Bitcoin Daily: Korean Peace Declaration Stored In Ethereum, London Police Seize $700K In Bitcoin


An agreement for peace between North and South Korea was stored in the blockchain by a South Korean developer, CoinDesk reported. Ryu Gi-hyeok recorded the Panmunjom Declaration on the Ethereum blockchain. The declaration said that "there will be no more war on the Korean peninsula.”

"I just thought it took too long for the South and the North to give way to each other," Gi-hyeok told CoinDesk Korea. "After finding out what I could contribute to this historic achievement as a developer, I found the Panmunjom Declaration on the Blue House homepage and recorded it on Ethereum."

And police in England seized a whopping $700,000 worth of bitcoin from a 25-year-old man, USA Today reported. The news circulated after a British court said on Wednesday (May 2) that Grant West would be sentenced later this month. West had been arrested on a train last year and pleaded guilty in December to a cyberattack.

Police were able to seize West's bitcoins because he happened to be logged into his accounts when authorities took him into custody. Prior to the West case, police in Britain seized more than $1 million in cryptocurrency from an individual who was convicted of money laundering and selling drugs.

In other news, an U.S. Securities and Exchange Commission (SEC) official is saying that initial coin offerings (ICOs) can be risky for investors, CNBC reported. "They're raising a lot of money, but they're not complying with the rules that are in place to protect investors," SEC assistant director of enforcement, Valerie Szczepanik, said at an event.

Szczepanik did not name any particular ICOs, but she did say that the Commission is looking into the offerings. Still, she stated that the SEC was not trying to stifle innovation in the blockchain space.

"We do not want to chill the markets," Szczepanik said at the event. "The promise of blockchain technology is not one that we want to ignore.”



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.