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India: RBI Set to Challenge Supreme Court’s Crypto Verdict

March 6, 2020 by Ogwu Osaemezu Emmanuel at Regulation

India’s central bank, the Reserve Bank of India (RBI) is putting preparations in top gear to file a review petition in the Supreme Court against the court’s verdict in favor of cryptocurrency trading in the state, reports the Economic Times on March 6, 2020. RBI Not Giving Up As reported...

U.K.: FCA Says BitMex Not Authorized in the Nation, Warns Residents

March 5, 2020 by Ogwu Osaemezu Emmanuel at Regulation

The Financial Conduct Authority (FCA) has warned citizens to be wary of BitMex, a Hong Kong-based crypto exchange and derivative trading platform, as the firm is not authorized to operate in the United Kingdom, according to a statement on March 3, 2020. BitMex Not Authorized As part of its obligation...

ConsenSys, Microsoft, EY Launch Privacy-Protecting Blockchain Protocol

March 5, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

ConsenSys, a firm focused on solving real-world problems with the Ethereum blockchain, has joined forces with Microsoft and Ernst & Young to roll out Baseline Protocol, an innovative solution that makes it easier for enterprises to use the public Ethereum distributed ledger technology (DLT) mainnet without having to bother about...

Samsung SDS, Credorax Join Forces for Cross Border Payments Initiative

March 5, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

Samsung SDS, a subsidiary of Samsung Group focused on providing information technology and artificial intelligence (AI) solutions to its clients, has joined forces with Credorax, an Israel-based financial technology firm. The memorandum of understanding will enable both firms to develop a blockchain-powered remittance and account reconciliation platform, reports The Korea...

Korean Lawmaker Stresses the Importance of a Cryptocurrency Special Zone for ICOs

Breaking: Cryptocurrency Now Fully Legal in South Korea

March 5, 2020 by Ogwu Osaemezu Emmanuel at Regulation

In another significant development for the cryptoverse, the South Korean National Assembly has officially passed the "Act on Reporting and Use of Specific Financial Information” bill into law, making cryptocurrency trading and holding a legal activity in the nation, reports TheNewsAsia on March 5, 2020. Bitcoin Now Legal in South...

Pawn Shops in Ukraine Set to Start Accepting Cryptocurrencies as Loan Security

Ukraine Mandates Citizens to Declare Bitcoin (BTC) Holdings for Tax Purposes

March 4, 2020 by Ogwu Osaemezu Emmanuel at Regulation

In a bid to regulate its cryptocurrency space, Ukraine's National Agency for Prevention of Corruption (NAPC) has defined clear rules for declaring cryptocurrencies as intangible assets. As such, taxpayers in the country have been mandated to report their crypto holdings following these guidelines, according to a Forklog report on March...

Facebook Plans to Redesign Project Libra Due to Regulatory Hurdles

March 4, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

Facebook and the Libra Association are making plans to redesign project Libra in a bid to scale the ending regulatory hurdles that have plagued the global crypto project. Sources say the proposed Libra network may function as a payments network, supporting other cryptocurrencies including central bank digital currencies (CBDCs), reports...

MakerDAO (MKR) Partners with Simplex to Enable Dai (DAI) Purchase with Fiat

March 4, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

MakerDAO, Ethereum-powered decentralized finance (DeFi) heavyweight, has joined forces with Simplex, a European Union-licensed firm that provides a fiat gateway to leading bitcoin trading venues. The deal will enable Simplex to create a fiat on and off-ramp for the DAI dollar-pegged stablecoin, according to reports on March 3, 2020. Simplex...

UAE: National Bank of Fujairah Adopts RippleNet for Cross-Border Payments

March 3, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

The UAE's corporate bank, National Bank of Fujairah (NBF) has joined RippleNet, a global payments network to make easy and seamless cross border payments to India. Also, the corporate bank will use the blockchain-based payments network to send and track international payments in real-time, according to a Ledger Insights report...

Coronavirus: Millennials Choose Bitcoin as the Best Investment

March 3, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

iTrustCapital, a Los Angeles-based firm that enables clients to buy and sell bitcoin (BTC) and other cryptocurrencies, as well as physical gold in retirement accounts on a 24/7 basis, has released its latest survey report which reveals that most millennials prefer to invest in digital assets and gold in the...