Dec 29, 2017

South Korea moves against Bitcoin

Illustration: Rebecca Zisser / Axios

South Korea has proposed legislation that would prohibit South Korean entities from providing settlement services to complete cryptocurrency transactions, per The Verge. The country also handed down rules earlier this year that restrict cryptocurrency investments by financial firms. And South Korea's government has hinted that it might want to ban cryptocurrency exchanges entirely in the future.

Why it matters: It's a sign that developed nations with strict monetary controls are becoming hyper-aware of the implications of an uncontrolled cryptocurrency market. But while nations could make it difficult for their citizens to interact and do business with cryptocurrency by implementing regulations preventing interactions with traditional financial institutions, it might be impossible to ever completely cut off access.

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Assault weapons ban dies in Virginia Senate despite Democratic control

Gun-rights ralliers at a protest outside the Virginia Capitol Building in January. Photo ROBERTO SCHMIDT/AFP via Getty Images.

An assault weapons ban died in the Virginia Senate Judiciary Committee on Monday despite a Democratic majority in the assembly, the Washington Post reports.

Why it matters: Democrats flipped the Virginia House and Senate last year after campaigning hard on gun control. The assault weapons bill would have banned future transfers and sales of all assault weapons in the state.

What we know: Deadly Storm Dennis whips at England, Wales and Ireland

Photo: OLI SCARFF/AFP via Getty Images.

At least two deaths are being attributed to Storm Dennis on Monday as it continues to strike at parts of England, Wales and Ireland, per AccuWeather.

The big picture: Dennis is the second-strongest nontropical storm ever recorded in the North Atlantic Ocean. Its hurricane-force winds and heavy rains have caused widespread flooding across the United Kingdom. The army has been deployed in the U.K. to help with flood relief.

Go deeperArrow33 mins ago - Science

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,775 people and infected more than 70,000 others. Most cases and all but five of the deaths have occurred in mainland China.

Go deeperArrowUpdated 3 hours ago - Health