Category: Regulations

News Taiwan to Enforce Cryptocurrency Regulations by November This Year

Taiwan to Enforce Cryptocurrency Regulations by November This Year

In order to prevent money laundering, Taiwan plans to enforce cryptocurrency regulation, effective from November this year. Chiu Tai-san, Justice minister of Taiwan said legal framework will be ready prior to the Asia Pacific on Money laundering in November. He said this on Friday at anti-money laundering event. According to Central News Agency, Tai-san was …

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News Martin Lewis Files a Lawsuit Against Facebook for Using His Identity to Promote Crypto Ads.

Martin Lewis Files a Lawsuit Against Facebook for Using His Identity to Promote Crypto Ads.

A well-known financial journalist and founder of consumer finance site MoneySavingExpert.com filed an indictment against Facebook today. The suit is filed in UK’s High Court alleging for defaming the tech giant. Lewis blames the Facebook advertised more than 50 cryptocurrency ads which basely used his identity to endorse cryptocurrency trading scams. Martin Lewis says as follows …

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News Texas State Security Board Probes 32 Illicit Cryptocurrency Offerings

Texas State Security Board Probes 32 Illicit Cryptocurrency Offerings

An interesting state, Texas always been keen on cryptocurrency offerings and tends it have its own. Now, a recently published report based on four-week investigation founds crypto frauds in which 32 illegal cryptocurrency offerings were revealed. Texas is high with Crypto Fraud Texas State Securities Board issued a report that necessarily paint a negative scenery …

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News Canadian Authorities to impose the tax on Cryptocurrencies

Canadian Authorities to impose the tax on Cryptocurrencies

Canadian tax obligations don’t exempt people who made money utilizing digital currencies. The taxes are implied on Canadian for income gain through virtual currencies. As cryptocurrency like Bitcoin and Ethereum made users to gain currencies. The word crypto comes from the Greek word for hidden. If User thinks to hide his virtual currency during taxing, …

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News Venture Capital Working Group Approaches Sec for Crypto Regulations

Venture Capital Working Group Approaches Sec for Crypto Regulations

Venture Capital Working Group met on March 28 and is asking the U.S. SEC to consider a safe harbor where some cryptocurrencies are considering a safe from securities regulations given their structure and manner of formation. Venture Capital Working Group, which is a group of investors and lawyers, has asked the U.S. Security Exchange Commissions …

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News European Parliament is on stricter regulations on Crypto exchange

European Parliament is on stricter regulations on Crypto exchange

Now, crypto exchanges and wallet provider must introduce customers including verification. The producer has been undertaken by European Parliament in favor of strict regulations on Crypto exchange. Since the new approach come with the EU Anti-Money Laundering Directive’s latest update. The new approach under Closer Regulation On Thursday, the agreement with the European Council of …

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News Philippines Senator Demands Harsher Penalties for Crypto Crimes

Philippines Senator Demands Harsher Penalties for Crypto Crimes

Philippines opposition minister has proposed a harsher penalty where crime involving cryptocurrency is punishable with one degree of higher than the traditional RPC. Philippines opposition senator wants a harsher penalty imposed against those committing cryptocurrency crimes. He proposed, to that effect, the Senate Bill 1694, filed last month and wants fellow legislators to expedite passage …

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News Barclay UK’s second largest bank to begin cryptocurrency trading desk

Barclay UK’s second largest bank to begin cryptocurrency trading desk

As per reports, Barclays Plc, the second largest bank of U.K is begun to audit client interest in setting up a virtual currency trading firm. Barclays is holding high-level discussions about starting a dedicated cryptocurrency counter. According to few sources these discussions are in a primary state. The bank is trying to predict the anticipation …

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News IMF forecasts on economic conditions of nations after 2020

IMF forecasts on economic conditions of nations after 2020

 The international monetary fund envisioned the economy of a world that has boomed since 2011. This might continue for upcoming two years and soon the economic conditions may fall down. On Tuesday, the firm gave a forecast of the year 2018 on the global growth of an economy. The estimated growth is 3.9 percent in …

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News Brazil Crypto Exchanges Launch Rival Cryptocurrency Organization

Brazil Crypto Exchanges Launch Rival Cryptocurrency Organization

Brazil regulators are working on a regulation on cryptocurrencies but there are tensions between banks and brokers — some banks have previously refused to open accounts with brokers because of risks. Additionally, the regulators have warned that local investment funds cannot invest in cryptocurrencies. Bitcointrade, Mercado Bitcoin, Foxbit crypto exchanges recently created the Associação Brasileira …

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News Ripple Wants Regulators to Foray Cryptocurrencies Balance

Ripple Wants Regulators to Foray Cryptocurrencies Balance

Ripple’s head of regulatory called on U.K. to relook into delays of announcing cryptocurrency regulation saying that predictable regulation can help promote to markets by attracting new entrants, especially institutional investors. Financial Conduct Authority said it will study cryptocurrency regulation situation and publish recommendations in the third quarter of the year.   Ripple’s head of …

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News Russian Court Bans Telegram, Founder’s Insolent

Russian Court Bans Telegram, Founder’s Insolent

The telegram has appealed against the decision to ban access in Russia and says it will do everything possible to ensure the services are accessible again in the country. The court said the ban will continue until Telegram complies with a directive to turn over keys to decrypt user messages.    Moscow’s Tagansky court ordered …

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News Venezuela’s Government to accept Digital currency within 120 days.

Venezuela’s Government to accept Digital currency within 120 days.

Petro, Venezuela’s oil-endorsed digital currency should become a legal tender for all transactions that includes government institutions to financial firms to all other companies. The time allotted to this venture is 120 days as per the declaration was given by the Government’s Official Gazette. Bestowing to gazette of April 9, the government is going to …

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News Alibaba’s Taobao Lists Cryptocurrency-Related Products as Prohibited

Alibaba’s Taobao Lists Cryptocurrency-Related Products as Prohibited

The move is understandable given the pressure by government on businesses regarding cryptocurrencies. It is unclear if Alibaba will follow suit though it recently launched a cryptocurrency mining platform.   Customers and users of Taobao, an internet shopping site owned by Alibaba, will from April 17, no longer be able to provide products and services …

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News Marketers Discovering New Ways to Bypass Social Media on Crypto Ads Ban

Marketers Discovering New Ways to Bypass Social Media on Crypto Ads Ban

Some marketers still view the ban as one that won’t have an effect on their operations since they rely on other platforms for advertising or have already a strong social presence. Some people feel that these companies are beginning to feel the threat of decentralized tech. Facebook, Google, and Twitter (with an exception for verified …

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News Britain’s Financial Conduct Authority (FCA) to Publish a Review of Cryptocurrencies

Britain’s Financial Conduct Authority (FCA) to Publish a Review of Cryptocurrencies

Financial Conduct Authority will, together with others as part of a task force, develop thinking and publish a discussion paper in the third quarter about the way to go in regulating cryptocurrencies. Companies are already starting to think about self-regulation even as the regulator warns that they must observe the regulation handbook.    Financial Conduct …

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News State Securities Board of Texas issued an emergency cease for ban selling unlicensed securities

State Securities Board of Texas issued an emergency cease for ban selling unlicensed securities

On April 5, the State Securities Board of Texas have issued an Emergency Cease and Desist letter to the Millionaire Mentor University, Mark J. Moncher, and another connected player to ban selling unlicensed securities and defrauding investors in an allegedly fraudulent complex cryptocurrency trading and medical marijuana investment scheme. Estrada Trucking of Capital Cash and …

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News Reserve Bank of India embargoes the trade of cryptocurrencies

Reserve Bank of India embargoes the trade of cryptocurrencies

Reserve Bank of India banned digital currencies like Bitcoin, Ethereum from offering services to any individual or business dealt with cryptocurrencies. The central bank has provided three months to the regulated entities like banks and finance firms to unravel their entities related to cryptocurrencies as stated by RBI Governor BP Kanungo in a Media Conference. …

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News Abu Dhabi’s ADS Securities Trading Firm Adds BCH, XRP and LTC

Abu Dhabi’s ADS Securities Trading Firm Adds BCH, XRP and LTC

ADS Securities, Abu Dhabi based trading firm is widening their list by adding top three cryptocurrencies. The company has announced that traders using propriety OREX platform are now able to trade five cryptocurrencies: adding BTC and ETH which were since last year.  Now Trade with BCH, XRP, and LTC The reports stated, ADS Securities announced …

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News Mayor Park Won-soon of Seoul Intends To Launch S-Coin

Mayor Park Won-soon of Seoul Intends To Launch S-Coin

Mayor Park Won-soon says that Seoul, the capital of South Korea is developing its own cryptocurrency, tentatively named as S-Coin, which would be used in the city-funded welfare program. Hankyoreh, the news outlet reported on March 30 that the mayor of Seoul, Park Won-soon has confirmed his purpose to launch South Korean capital’s own cryptocurrency …

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News Morrison Cohen LLP Launches a Crypto Litigation Tracker

Morrison Cohen LLP Launches a Crypto Litigation Tracker

The litigation tracker helps track details of litigation, fines and court judgments and determinations relating to cryptocurrencies. It could help investors willing to assess the flagged companies before making decisions. Morrison Cohen, which is a litigation form, has launched the ‘MoCo Cryptocurrency Litigation Tracker’ that helps track litigations, regulatory actions, and pronouncements regarding cryptocurrencies, initial …

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News MailChimp Prohibits Services to Promote Cryptocurrencies and ICOs

MailChimp Prohibits Services to Promote Cryptocurrencies and ICOs

MailChimp also banned promoting of multi-level marketing and “make money online” businesses or others that have higher-than-average abuse. It joins Google, LinkedIn, Twitter, and Snapchat on a ban on ICO and crypto-related ads, and the country-wide bans in China and South Korea.   MailChimp has updated, this week, their policy on promoting cryptocurrencies and ICOs …

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News It’s Confirmed- Twitter Will Ban Cryptocurrency Ads

It’s Confirmed- Twitter Will Ban Cryptocurrency Ads

Twitter is banning cryptocurrency-related ads on Tuesday, following the Reddit move in 2016 and joining advertising giants Google and Facebook to protect the investor from media hype of potential fraud or large investor losses.   Twitter, a social networking website and a huge cryptocurrency advertisement platform states that it will step ahead for a global …

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News US Securities and Exchanges Commission to Review Cryptocurrency Hedge Funds

US Securities and Exchanges Commission to Review Cryptocurrency Hedge Funds

According to the report from the Wall Street Journal, the US Securities and Exchanges Commission (SEC) is allegedly preparing to investigate nearly 100 cryptocurrency-based hedge funds.  The US Securities and Exchange Commission (SEC) will inspect dozens of cryptocurrency hedge funds. In order to prevent people from their risky trading policies and higher fees vs. traditional …

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News OECD Calls for International Collab on Cryptocurrency and Blockchain Taxation

OECD Calls for International Collab on Cryptocurrency and Blockchain Taxation

OECD statement are part of its larger initiatives to help countries fight tax evasion. It says cryptocurrencies need checking to not undo the progresses made in fighting tax evasion, globally. Organization for Economic Cooperation and Development (OECD) says governments need to do some more work to harness opportunities presented by blockchain technology and cryptocurrencies. Meanwhile …

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News U.K. launches cryptocurrency task force

U.K. launches cryptocurrency task force

The regulations will help boost collaboration between fintech companies and banks as well as with the government to remove barriers that help them grow domestically and internationally. The initiatives will help manage risks of use of cryptocurrencies and harness any benefits U.K. will launch a cryptocurrency task force and other fintech initiatives according to a …

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News Will Cryptocurrency Ban Disrupt Legit Crypto Businesses?

Will Cryptocurrency Ban Disrupt Legit Crypto Businesses?

Prohibition on cryptocurrency can be considered as the great move by the Google, Facebook, and Twitter. This may tackle scammers using cryptocurrency ads to promote their illicit online systems. In fact, a ban on cryptocurrency ads will have no longer effect on legitimate crypto businesses. Recently, the two giant online advertising platforms Google and Facebook …

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News Snowden’s 2013 Leak Exposed NSA’s Bitcoin Monitoring Tricks

Snowden’s 2013 Leak Exposed NSA’s Bitcoin Monitoring Tricks

That NSA would launch the program overseas to track targets is “pernicious” according to a professor. Not only such extensive moves violate privacy but also reveal the extent to which some government-backed institutions and individuals with vested interests can go.   Some of the programs in the web and crypto world that promise users huge …

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News MasterCard Supports Only Government Backed Cryptocurrencies

MasterCard Supports Only Government Backed Cryptocurrencies

Regulation lies at the centre of cryptocurrency —- while government of various countries ban ICOs, social and search giant also commenced following the ban the foot. But the leading financial services organisation, Mastercard is supporting cryptocurrencies as long as they are backed by Government Mastercard to deal with National digital currency – Rest other currencies …

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News US President Donald Trump Bans Venezuelan’s Petro Cryptocurrency for American Citizens

US President Donald Trump Bans Venezuelan’s Petro Cryptocurrency for American Citizens

On Monday, President of America, Donald Trump sanctioned an executive order to prohibit the purchase of Petro, Venezuela’s new national cryptocurrency by the American citizen or by anyone inside a US province. The Trump administration has banned the usage of the Venezuelan cryptocurrency. Previously, President Donald Trump said to be preparing to sign an executive …

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News US Federal Trade Commission Files Lawsuits on Crypto Invest Scheme Promoters

US Federal Trade Commission Files Lawsuits on Crypto Invest Scheme Promoters

Federal Trade Commission registered a complaint against two company viz. My7Network and Bitcoin Funding Team. A lawsuit was filed because they have allegedly defrauded nearly 30,000 people globally. According to the lawsuit, the operators were promoting cryptocurrency scams on social media platforms including Twitter and Youtube. Global Cryptocurrency Regulation Regulators worldwide are grappling with ways …

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News After Facebook and Google, It’s Now Twitter Aiming to Prohibit Cryptocurrency Ads

After Facebook and Google, It’s Now Twitter Aiming to Prohibit Cryptocurrency Ads

Yes!!! You got it right, very soon Twitter is going to join Facebook and Google in breaking down on cryptocurrency ads. The ban will be against ads on ICOs, cryptocurrency and wallets. It could also include banning cryptocurrency exchange but with several exceptions. Twitter has reached on Sky’s news report on Monday that the step …

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News Ripple CEO Says Lawyers Are The “Real Winners” In Cryptocurrency Space

Ripple CEO Says Lawyers Are The “Real Winners” In Cryptocurrency Space

The CEO of the Ripple, Brad Garlinghouse has claimed that lawyers are the actual winners in the cryptocurrency space. Brad Garlinghouse, CEO of the Ripple stated that the winners in the flourishing practice of Initial Coin Offerings will exist from the legal community. Initial coin offerings or ICOs are managed by the different startups in …

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News New York to Collect Tax for Cryptocurrency Mining

New York to Collect Tax for Cryptocurrency Mining

New York making a hard stance on cryptocurrency for saving high electricity bills produced from cryptocurrency mining operations. The state is ill-fame for its stiff attitude on cryptocurrency ever since the introduction of Bitlicence. Recently, though it struck a big indenture with a Bitcoin mining company called Coinmint who had made $165 million. A change …

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News Google to Crackdown Crypto-Related Ads in the Coming Months

Google to Crackdown Crypto-Related Ads in the Coming Months

Google follows steps by Facebook which banned ads from cryptocurrency-related operations including ICOs and binary options. Its ban takes effect this coming June. Google is next after Facebook to crack down on crypto-related ads according to their latest announcements. It says in its annual “trust and safety” ads report that many companies advertising binary options, …

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News Philippines Lawmaker Intensifies Penalty for Crypto Crimes

Philippines Lawmaker Intensifies Penalty for Crypto Crimes

Philippine Senator Leila de Lima geared up to introduce the tougher penalties for taking part in cryptocurrency related crimes. An opposition Senator in the Philippines, Leila de Lima issued a bill to impose stringent penalties for involving in virtual currencies like Bitcoin. According to Senate Bill (SB) No. 1694 released in a March 13 press …

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News Winklevoss Twins Takes on Cryptocurrency Self-Regulation

Winklevoss Twins Takes on Cryptocurrency Self-Regulation

The Virtual Commodity Association will have regulations about information sharing, cybersecurity and fiscal responsibility. Members will have to comply to these regulations to remain members. The two brothers see it as the next step in the maturation of crypto markets Winklevoss twins have proposed to create Virtual Commodity Association, a self-regulating organization that would police …

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News Regulators Are Looking at Cryptocurrencies More Favorably but Cautiously

Regulators Are Looking at Cryptocurrencies More Favorably but Cautiously

SEC and CFTC gave a presentation to a congress committee where they called for a need to have coordinated efforts in coming with viable regulation. Both alluded to the need for a regulation to curb misuse of the innovation. Regulators in the U.S. have repeatedly alluded to the need for appropriate regulation on ICOs, cryptocurrencies …

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News Mexico’s Lower House of Congress Aims Crypto Regulations via Fintech Bill

Mexico’s Lower House of Congress Aims Crypto Regulations via Fintech Bill

Mexico wants to regulate cryptocurrencies through a bill that is now set for the final signing by the president to become law. The regulation gives central bank sweeping powers to decide which cryptocurrency trades in the exchanges.  Mexico is now part of the few countries that have so far put into place new legislation meant …

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News Austria Aims to Work on New Cryptocurrency Regulations

Austria Aims to Work on New Cryptocurrency Regulations

Austria is pushing EU to have regulations on cryptocurrencies. The new rules require trade disclosure and identification  Cryptocurrency traders in Australia will now need to disclose any trade of €10,000 ($12,300) and above to government’s financial intelligence unit. Additionally, market participants will need to add identification procedures. This is according to new requirements from the …

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News Cryptocurrency Scammers Are Now Using Twitter to Hijack Verified Accounts

Cryptocurrency Scammers Are Now Using Twitter to Hijack Verified Accounts

Cryptocurrency scammers are now using Twitter to make use of naïve investors looking to make money. At present, scammers have started hijacking verified accounts to look more credible. Some cryptocurrency scammers are now hijacking previously verified accounts and then using those accounts to scam users. The latest example is that of a Twitter account by …

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News Philippine Bill to Impose Penalties for Crimes Involving Cryptocurrencies

Philippine Bill to Impose Penalties for Crimes Involving Cryptocurrencies

The Philippine country has no official regulation for cryptocurrencies and relies on advisories from SEC and BSP. SEC said some cryptocurrencies fall under securities categorization. A bill before the 17th Congress is seeking to increase penalties to criminality involving cryptocurrency. Congress received the law on February 14. If it becomes law, the penalty will be one …

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News Ranking officer in charge of Seoul crypto regulation found dead

Ranking officer in charge of Seoul crypto regulation found dead

An official in charge of devising measures against cryptocurrency speculation was found dead in Seoul this Sunday. The likely cause of death is heart attack according to media reports. Additionally, police are already investigating the cause of death of the officer attached to Office for Government Policy Coordination. He was in his 50s. Colleagues say …

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News CFTC instructing to duck pump-and-dump schemes

CFTC instructing to duck pump-and-dump schemes

The U.S derivatives regulator (Commodities Future Trading Commission) issued a warning against potential investors on Thursday regarding cryptocurrency “pumps-and-dumps” scams. The main intention of such schemes is to force investors by inflating the price of digital tokens through bogus information. Commodities Future Trading Commission to protect Investors against pump-and-dump schemes Some of the pump and dumps …

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News US Government to Emphasize on Cryptocurrency Risks Before Bitcoin Regulations

US Government to Emphasize on Cryptocurrency Risks Before Bitcoin Regulations

Rob Joyce, White House cybersecurity coordinator and special assistant to the president told US government is nowhere close to Bitcoin regulations. At Munich Security Conference in Germany, he highlights on the better understand the cryptocurrency risks and benefits before undertaking regulatory rules. Speaking with CNBC on Friday, Rob Joyce, special assistant to the president and …

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News Switzerland’s Finance Regulator to look some ICO as securities

Switzerland’s Finance Regulator to look some ICO as securities

Swiss Finance Regulator will treat some tokens from Initial Coin Offerings as securities. The announcement came amid in surge of inquiries to regulate ICOs launching in Switzerland. Regulator’s guidelines explain how ICOs will be regulated in future. The announcement comes in the wake of ICO spike and the inquiries to regulate crowdfunding in Switzerland. The post reads; “The guidelines define …

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News Spanish Party to Lure Blockchain Firms by Considering Tax Incentives

Spanish Party to Lure Blockchain Firms by Considering Tax Incentives

People’s Party is planning on a regulation that will allow the party to use tax breaks to attract investors in the blockchain technology. The law is in preparation stages. They are planning to have it ready this year, said Teodoro Garcia Egea, the lawmaker who is preparing the bill. He said the new move is …

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News Cryptocurrency Industry in Japan is launching a self-regulating body

Cryptocurrency Industry in Japan is launching a self-regulating body

Two cryptocurrency industries in Japan are aiming to form a self-regulating body. By April, the Japan Blockchain Association and the Japan Cryptocurrency Business Association could unite. To overcome the theft of $530 million of digital money, it aims to better safeguard the investors. Two cryptocurrency industry groups are forming a self-regulating body According to sources, the …

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News Class Action Lawsuit Filed Against Bitconnect in a Federal Court

Class Action Lawsuit Filed Against Bitconnect in a Federal Court

A law firm is suing BitConnect on behalf of former customers for Ponzi operations and fraud. The lawsuit was filed last month in the United States District Court for the Southern District of Florida. BitConnect closed crypto exchange and lending platform last month following cease orders from two state security regulators. The company said the …

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Exchange Bitlicense Comes to South Korea as Cryptocurrency Exchange Approval System

Bitlicense Comes to South Korea as Cryptocurrency Exchange Approval System

South Korea is following the footstep of NewYork state Department of Financial Services (NYSDFS) by considering BitLicense as cryptocurrency Exchange approval system. South Korea announcing Cryptocurrency Exchange approval system New York employs BitLincese, means that it allows cryptocurrency trading only when they have a license. Similarly, the South Korean Government is introducing cryptocurrency exchange approval …

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News New Jersey Watchdog Slapped Bitstrade for Unregistered Securities Offering

New Jersey Watchdog Slapped Bitstrade for Unregistered Securities Offering

New Jersey’s Attorney General has officially announced the ceased order at Bitstrade on account of offering unregistered securities fraudulently. Another Ponzi Scheme Is Exposed Off Following Bitconnect’s Ponzi scheme, yet another Bitcoin company is offering fraudulent securities. According to New Jersey regulator, Bitrstrade which is an online cryptocurrency-related investment firm was violating the New Jersey’s …

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News Japan’s DMM Bitcoin exchange installs a traditional billboard to advertise services

Japan’s DMM Bitcoin exchange installs a traditional billboard to advertise services

DMM Bitcoin exchange has recently installed a traditional billboard in Japan, featuring a Japanese celebrity coated in gold. Crypto Exchange Advertising goes big in Japan Japan is setting a high range of trend by the latest ad for the DMM bitcoin exchange with the celebrity cost in gold. And while digital ads are still an …

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News Canada’s binary task force wants Google to ban binary options and cryptocurrency Ads

Canada’s binary task force wants Google to ban binary options and cryptocurrency Ads

Chairman of Canada’s Binary Options, Jason Roy has said that they were pleased with the recent move by Facebook to ban cryptocurrency and ICO ads and is urging Google to follow suit. ——————————————————- Regulator calls on Google to follow Facebook’s Footsteps to ban Binary option, ICO and Cryptocurrency Ads Their main concerns according to the chairman …

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News Ukraine cyber police support cryptocurrency legalization

Ukraine cyber police support cryptocurrency legalization

Ukraine cyber police say they support the idea of legalizing cryptocurrencies despite the fact that their existence and circulation depends on the foundations of financial pyramid.    Legal Favors at Cryptocurrency Cyber Police Department head Serhiy Demediuk said in a Facebook post that the department also supports the mining of cryptocurrencies. However, the head alluded …

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News U.S. CFTC charges My Big Coin Pay operators on fraud and ponzi claims

U.S. CFTC charges My Big Coin Pay operators on fraud and ponzi claims

The United States Commodity Futures Trading Commission has filed charges against Randall Crater and Mark Gillespie for allegedly causing people to invest in My Big Coin Pay and for misappropriating more than $5 million from the funds. US CFTC charges My Big Coin Pay operators In the meantime, the U.S. District Court for the District …

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News IMF wants regulators to coordinate globally on cryptocurrencies

IMF wants regulators to coordinate globally on cryptocurrencies

International Monetary Fund (IMF) says there is a need for regulators to coordinate on cryptocurrencies globally because there is increasing risks of surging crypto prices. IMF cites risks including the use of cryptocurrencies in money laundering, financing of terrorist activities and tax evasion and fraud. This is in addition to losses caused to investors. These …

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News India’s top bank suspend accounts of major bitcoin exchanges

India’s top bank suspend accounts of major bitcoin exchanges

Recently, the top banks of India have suspended accounts of major Bitcoin exchanges. Thus, suspecting of dubious transactions. Banks including Axis Bank, HDFC Bank, State Bank of India and Yes Bank have suspended accounts of top ten cryptocurrency exchanges. Such as Unocoin, BtcxIndia, Zebpay, CoinSecure among users. Reportedly, these banks have for additional collateral with …

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News CFTC files lawsuit against cryptocurrency investment schemes

CFTC files lawsuit against cryptocurrency investment schemes

The CFTC (Commodity Futures Trading Commission), US commodity files lawsuit against allegedly fraudulent cryptocurrency investment schemes. Both suits were filed on Thursday in US federal court in New York. Since these are the latest move from the country’s derivatives regulator in getting close over scrutiny activities into cryptocurrency. The joint statement published on the lawsuit …

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News SWIFT and Central Securities Depositories sign MOU for distributed ledger technology

SWIFT and Central Securities Depositories sign MOU for distributed ledger technology

SWIFT and seven Central Securities Depositories have signed an MOU to show how distributed ledger technology would be used in voting and proxy-voting and other applications. It will also show how ISO 20022 can support distributed ledger technology. Most importantly, it will help develop standards, which is the most pressing challenge for emerging technologies such …

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News Brazil could turn to Ethereum blockchain to collect petition signatures

Brazil could turn to Ethereum blockchain to collect petition signatures

The constitution requires that the Brazilian Congress must hear any petition that gets 1 percent of signatures from the electorates. But that constitutional promise has caused political crisis related to the electoral process. Failure to fulfill this promise had been due to lack of a platform that can securely collect and verify the signatures and …

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News Visa suspends pre-paid crypto cards

Visa suspends pre-paid crypto cards

Prepaid Visa card users will no longer be able to use the cards for cryptocurrency transaction after Visa suspended the service starting January 5. This is another embarrassing move by a major financial institution. With the cards, users could fund their accounts using BTC or ETH. They can withdraw it in regular currencies such as …

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News Bitconnect gets cease order from Texas State Securities Board

Bitconnect gets cease order from Texas State Securities Board

BitConnect handed a cease order from Texas State Securities Board (TSSB) on January 5, stating to close down operations in 30 days. TSSB orders Bitconnect stop operation The cease and desist letter orders BitConnect to stop selling its Bitconnect Coin assets in Texas until when it registers with Securities Commissioner or given exemptions to register. It …

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News Finance Ministry of Russia draft law on cryptocurrencies regulation

Finance Ministry of Russia draft law on cryptocurrencies regulation

Recently, Russia takes a step forward with its plans on cryptocurrencies regulation  and ICOs. Thus, to provide an accurate framework for trading in the industry. According to Antony Siluanov, Finance Minister said in Econo Times, “The Ministry of Finance has prepared a draft law, currently under consideration, which will determine the procedure for issuing, taxing, buying and …

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News South Korea imposing the new regulations on cryptocurrency trading

South Korea imposing the new regulations on cryptocurrency trading

South Korea’s government said on Thursday that it will execute more measures to operate cryptocurrency trading. The government declares that, “The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility”. But, the government has not given accurate examples. Instead, …

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News South Korean government summons an emergency meeting

South Korean government summons an emergency meeting

South Korean Government has called for an emergency meeting targeted at discussing trading of cryptocurrencies. And regulatory or other measures to be introduced in the market. This is according to a central bank official on Wednesday. While the official did not give further details, the meeting shows the frenzy over cryptocurrencies in the country. The …

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News Treasury ministry plans strong regulations of Bitcoin

Treasury ministry plans strong regulations of Bitcoin

United Kingdom Treasury wants to crack down on Bitcoin since there are growing concerns of its use in money laundering and dodging taxation and will implement a regulation that requires cryptocurrencies to disclose their identities and report suspicious activity. The new law is expected next year. The treasury committee is not convincing that the regulatory …

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News South Korea finalizing regulation for crypto exchanges

South Korea finalizing regulation for crypto exchanges

South Korea is working on a law to regulate cryptocurrencies to curtail the risks surrounding its use such as lack of customer protection and money laundering, says the country’s Financial Services Commission. If implemented, the proposal will categorize cryptocurrency exchanges such as Bithumb, Coinone, and Korbit as “unauthorized fundraising” but will allow them to run …

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News Bitcoin market has loose regulations: Japanese cryptocurrency researcher

Bitcoin market has loose regulations: Japanese cryptocurrency researcher

Japan- largest Bitcoin market in the world in terms of trade volumes but has loose regulations for the business and investors according to Koji Higashi, the co-founder of IndieSquare and Japanese cryptocurrency researcher. He also says there is loose customer protection by government, which has given much freedom to cryptocurrency exchanges. Japan has a legal …

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