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Crypto news in brief (March 7, 2018): South Korea, Far Eastern Air, Ripple, MoneyTap

March 7, 2018 By Crypto Reporter

South Korean government officials are banned from trading or holding cryptocurrencies. Far Earstern Air will accept payments in cryptocurrencies. A consortium of Japanesse banks will release a blockchain-based payment application MoneyTap.

According to Maeil Business, South Korean Ministry of Personnel Management issued a document, which forbids government officials from trading or holding cryptocurrencies.

###

Taiwanese airline Far Earstern Air announced that it will accept cryptocurrency payments for tickets and relevant services.

Zhang Gangwei, company’s president, noted cryptocurrencies have a bright future and will be widely accepted in airline and tourism sector.

###

A consortium of 61 Japanese banks, covering more than 80% of country’s banking assets, will release payment application MoneyTap. The app will be powered by Ripple’s blockchain technology.

MoneyTap will allow banks’ customers to make instant domestic payments instantly, 24×7, requiring only a bank account, phone number, or QR code. As of now, flexibility with domestic payments is limited in Japan: transactions take place only on weekdays, between 8:30 am and 3:30 pm.

SBI Net Sumishin Bank, Suruga Bank and Resona Bank will be the first banks to provide their customers with MoneyTap in autumn of 2018.

Filed Under: General News, News Tagged With: cryptocurrency, Far Earstern Air, Japan, news, news in brief, regulations, Ripple, South Korea, Taiwan, XRP

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