Bitcoin Blockchain and Cryptocurrency News Center
Regulators and service providers are collaborating as never before to address systemic vulnerabilities of the crypto industry, the Cointelegraph reported on October, 4. This year has been a strong one for digital asset markets, highlighted by growing institutional inflows and a propitious shift in the regulatory environment. Witness the U.S. Securities Exchange Commission’s September letter […]
Crypto continues its trek into the mainstream. The European Union, or EU, plans to incorporate crypto and blockchain technology into its main processes by 2024. Over the next four years, the economic union aims to firm up fresh regulations that will promote blockchain and digital asset usage for international money transfers, according to internal documents that Reuters reported […]
Crypto mining can harm the country’s electricity distribution, says a Venezuelan minister. Venezuelan Minister of Habitat and Housing Ildemaro Villarroel announced today that crypto mining operations won’t be allowed in any state-owned housing or neighborhoods that are part of the “Gran Misión Vivienda” project (Great Home Mission). During an official speech on July 15, Villaroel stated that […]
Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says. A recent paper from academics at Leiden Law School suggests that if a crypto exchange or crypto custodian goes bankrupt, investors could well lose control over their stored coins. This happened in Japan’s Mt. Gox exchange collapse, and more […]
InCore bank becomes the first Swiss business-to-business bank approved by the financial watchdog to operate with digital assets, the Cointelegraph reported. The Swiss Financial Market Supervisory Authority, or FINMA, has authorized InCore bank to carry out digital assets transactions, allowing customers worldwide to access and transact within the bank. The official announcement represents an important step in […]
The members of the Joint Chiefs of Global Tax Enforcement are updating their crypto laws to prevent financial crimes and money laundering, the Cointelegraph reported. EXPERT TAKE Cybercriminals are taking full advantage of the COVID-19 pandemic, which has forced life into a digital realm, by leveraging increased fear and uncertainty to steal money and launder it through […]
The International Organization of Securities Commissions (IOSCO) thinks global stablecoin initiatives might be subject to securities laws, according to a new report. Published Monday, the 31-page examination of regulatory issues around stablecoins – cryptocurrencies with prices pegged to a low-volatility asset reserve – stressed that jurisdiction and regulation ultimately depend on project specifics. IOSCO looked at a […]
South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report. The Korean government is expected to announce its tax reform plan in late 2020. The low-level trading tax was recommended because there is a […]
Governments around the world are facing hard choices when it comes to cryptocurrency: overregulate it and risk losing the benefits to the economy, or do nothing and make themselves vulnerable to those who step up. Currently, the European Union can’t figure out what to do about Libra, the digital currency set to be released by […]
The European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with the finalized proposal expected in the third quarter, the news.bitcoin.com reported. EU […]