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Dubai to Launch Blockchain-based Marketplace for Travel and Tourism

UAE: Moody’s Rates Dubai’s KYC Blockchain Platform “Credit Positive”

February 26, 2020 by Aisshwarya Tiwari at Blockchain, Regulation

According to a report by The National published on February 26, 2020, a recently formed consortium of six banks and licensing authorities in the UAE has been declared “credit positive” for lenders in the country by Moody’s Investors Service. UAE Embracing Blockchain Heads-On Gulf countries, in particular, have emerged as...

Bitcoin-Becomes-the-Main-Method-Of-International-Payment

Bitcoin Adoption in Lebanon Increases Amidst Worsening Economic Situation

February 25, 2020 by Anthonia Isichei at Regulation

As the current financial crisis rocking Lebanon continues to intensify, Lebanese citizens are increasingly looking to bitcoin to escape the country’s crippling economic situation. Lebanon joins the list of countries whose citizens have turned to the top cryptocurrency to counter the financial crisis. Bitcoin Gives ‘Financial Freedom’ Lebanon’s financial situation...

Caitlin Long, Attracting More Wall Street Money to Crypto with Avanti Bank

February 25, 2020 by Ogwu Osaemezu Emmanuel at Regulation

Caitlin Long, a Wall Street veteran, is joining forces with blockchain firm, Blockstream to launch Avanti Bank, a crypto-focused financial institution that will offer regulated services to institutions working with digital assets, according to a tweet on February 24, 2020. Avanti to Bridge the Gap between Wall Street and Crypto...

Russian Oligarch Given Green Light for Private Digital Currency

February 25, 2020 by Ashwath Balakrishnan at Regulation

Vladimir Potanin, a Russian businessman with interests in the metal and airline industry, has been given permission by the Russian government to launch his own blockchain – Atomyze – with a digital currency for customers to use while transacting with his business. As reported by Bloomberg, this represents a major step...

Bank of England Executive Supports Calls for CBDC Issuance

February 24, 2020 by Osato Avan-Nomayo at Regulation

Sarah John, chief cashier of the Bank of England (BoE) says governments should seriously consider creating central bank digital currencies (CBDC) as a countermeasure to private crypto projects. Central Banks Need to Dominate Digital Currency Space Speaking to the Telegraph, John highlighted the need for central banks to consider CBDC...

Bank of Japan Studying Digital Currencies, Says Governor

Japan’s Finance Minister Sounds China CBDC Warning

February 24, 2020 by Osato Avan-Nomayo at Regulation

Taro Aso, Japan's Finance Minister has voiced his reservations concerning China’s plans to issue its central bank digital currency (CBDC) - the digital yuan. Aso told fellow finance chiefs at the G-20 summit that Beijing’s state-backed crypto could negatively upset the balance of the global economy. Tokyo Concerned About China’s...

New Jersey: Lawmaker Files Bill Requiring Crypto Firms to Obtain Business License

February 23, 2020 by Aisshwarya Tiwari at Regulation

According to a report by The Block published on February 21, 2020, a New Jersey-based lawmaker has proposed a new bill that seeks to make it mandatory for all crypto firms to obtain a business license to be able to conduct its business in the state. Bill to Regulate Crypto...

Malta Island Blockchain Beach Blue White

Malta: MFSA Says Binance Exchange Not Authorized to Operate in Malta; CZ Responds

February 21, 2020 by Aisshwarya Tiwari at Regulation

In an announcement dated February 21, 2020, Malta’s financial regulator, the Malta Financial Services Authority (MFSA) stated that it has never approved major cryptocurrency exchange platform Binance to operate in the island nation. Binance Not Authorized by the MFSA In a startling announcement on Friday, Maltese financial watchdog MFSA announced...

Man sitting down calculating bitcoin Tax

Crypto Tax: IRS Invites Industry Stakeholders to Parley in March

February 19, 2020 by Osato Avan-Nomayo at Regulation

The United States Internal Revenue Service (IRS) is inviting cryptocurrency stakeholders to a crypto tax summit in March. The move comes as the IRS has declared its intention to pursue robust virtual currency tax enforcement in 2020. IRS and Crypto Groups to Discuss Taxation Policies According to Bloomberg Tax, the...

Bloomberg’s 2020 U.S. Presidential Election Campaign Plan Pledges Clearer Crypto Regulations

February 19, 2020 by Anthonia Isichei at Regulation

Democratic Party Presidential Aspirant and CEO of Bloomberg L.P, Michael Bloomberg, pledged to provide a clearer regulatory framework for cryptocurrency and other matters relating to digital currencies, as part of his financial reform policy. The cryptocurrency landscape in the U.S. is ambiguous, which has consequently affected the development of the...

China: Crypto Exchange FCoin Can’t Pay Back $125 Million in User Funds

February 18, 2020 by Osato Avan-Nomayo at Regulation

FCoin founder Zhang Jian has published a lengthy tell-all detailing the demise of the once-promising crypto exchange platform with the service unable to service the $125 million in crypto deposits owed to customers. FCoin Founder Bares All On Monday (February 17, 2020), Jian published a blog post on the FCoin...

Gold-Based Cryptocurrency to Go Live in the UAE

Russia: Central Bank Proposes Amendment of Digital Assets Law to Include Tokenization Platforms

February 17, 2020 by Aisshwarya Tiwari at Regulation

In an announcement dated February 17, 2020, the Central Bank of Russia (CBR) stated that it had successfully completed a blockchain tokenization pilot using a platform developed by Nornickel within its regulatory sandbox. Incoming Changes to Russia’s Proposed Crypto Legislation? Following the steps of other global superpowers, Russia has amped...

India’s Election Commission Set to Deploy Blockchain Solution for Increased Voter Turnout

February 17, 2020 by Osato Avan-Nomayo at Regulation

The Election Commission of India (ECI) and the Indian Institute of Technology, Chennai (IIT-C) are working to create a blockchain system for implementing electoral reforms. The move forms part of the growing trend of government-backed distributed technology (DLT) use cases in the country. EC and IIT-Chennai Partner on Blockchain Voting...

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