South Korea Recognises Cryptocurrency As Assets

South Korea’s Supreme Court has recently confiscated 191 Bitcoins from a man who operated on a pornographic site, therefore, recognizing cryptocurrencies as assets, reports South China Morning Post.

This is the first time cryptocurrencies have been confiscated in the country. The court has seized 191 Bitcoins worth approximately $2.3 million, which the man, called Ahn, earned on pornographic sites.

“The cryptocurrency is recognized to have value so it can be confiscated,” the Supreme Court stated.

Ethiopian Government Signs Agreement With ADA To Introduce Blockchain In Agritech

The Ethiopian government has recently signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA), The Next Web reports May 3. The agreement will see Ethiopian developers apply blockchain technology to the country’s agritech industry.

Venezuelan Digital Coin Presale Fetches $3.3Bln – Maduro

MEXICO CITY - A presale of Venezuela's state-backed virtual coin called petro has raked in $3.3 billion, President Nicolas Maduro said.

Maduro said in a statement on Thursday the proceeds would be transferred to the central bank to be auctioned off via foreign exchange platform DICOM, according to the AVN news agency.

Petro ICO Review: A sovereign asset powered by the Venezuelan Government

Petro is an electronic currency proposed by the Venezuelan government. The utilization of blockchain technology allows you to transfer bulk information without the need for any third parties. This crypto also offers efficient tools that may successfully work to tackle the challenges that come with developing financial solutions and platforms.

Top 5 Biggest Cryptocurrency Scams

Cryptocurrencies have revolutionized the way people do transaction worldwide - but they've also facilitated some monumental scams within the last nine years. The success of Bitcoin and several altcoins jumpstarted an industry that's incorporating Blockchain technology in several innovative ways.
As the smartest minds have created some game-changing companies backed by the ability of Blockchain and cryptocurrencies, nefarious minds also have jumped on the bandwagon, fleecing unwitting investors in elaborate scams.

WeChat Shuts Down Cryptocurrency Groups On Government Orders 📰📰

The world has gone crypto crazy and China is no exception. However, the market is still highly speculative, and many people have fallen victim to crypto scams. This issue is already being addressed in the West where Twitter, Google, and Facebook have all banned crypto advertisements, specifically for initial coin offerings or ICOs. This week, China followed suit with their largest social network, WeChat.

G20 Considers Crypto As Assets, Not Currencies, According To Document Draft

A draft of a G20 document -- acquired by Bloomberg -- reads that cryptocurrencies “lack the traits of sovereign currencies,” implying that the G20 considers crypto to be an asset rather than a currency, Bloomberg writes today, March 20.

The issue of how to define cryptocurrencies is expected to be discussed this afternoon, according to Bloomberg.