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Facebook Project Libra on a Board with details about what it does

Congress Representative Wants Facebook to Put a Hold on Cryptocurrency Plans

June 20, 2019 by Ashwath Balakrishnan at Regulation

American Democratic Representative Maxine Water wants Facebook to temporarily put off all implementation plans for its cryptocurrency until Congress investigates it for potential risks, as reported by The Verge, June 18, 2019. Troubles Begin for Libra Less than a day after the project was formally announced, and the whitepaper released, Facebook's...

Cryptocurrency Exchange Bancor Restrics U.S.-Based Investors from Trading on Its DEX

June 19, 2019 by Aisshwarya Tiwari at Exchange, News, Regulation

In a blog post published on June 18, 2019, decentralized exchange (DEX) Bancor announced that from July 8, 2019, its U.S.-based users will no longer be able to use the exchange to trade digital currencies. Unclear Regulations to Blame The decentralized P2P exchange blamed ambiguous crypto and blockchain regulations in...

SEC Sues Shopin and its Founders for Fraudulent ICO Project

FINRA and SEC Frustrating U.S Crypto Startups

June 19, 2019 by Ogwu Osaemezu Emmanuel at News, Regulation

The Financial Industry Regulatory Authority (FINRA), a non-governmental and self-regulatory organization (SRO) in charge of regulating member brokerage firms, has been reluctant to approve the application of nearly 40 firms looking to offer crypto-related services in the region. Some insider sources have revealed that FINRA’s inaction stems from the fact...

Circle, Coinbase, and Huobi Executives to Meet at G20 for Clarity on Crypto Regulation

June 18, 2019 by Aisshwarya Tiwari at Regulation

Leaders of top crypto ventures including Circle, Coinbase, bitFlyer, Kraken, and Huobi will convene in Osaka, Japan, later this month to interact with policymakers and central bank executives of the countries of the G20 forum. This, according to a report by Financial News published on June 17, 2019. Facing the...

Wanted Poster Four Members Hackers Bitcoin Fraud

Europol to Use Gamification to Tackle Cryptocurrency-Related Crimes

June 14, 2019 by Anthonia Isichei at Regulation

The law enforcement agency of the European Union, Europol, revealed at a recent cryptocurrency conference that it was developing a cryptocurrency game that would train law enforcement agencies on how to trace and investigate virtual currency-related crimes. According to a press release on June 14, 2019, the agency and stakeholders in...

Crypto-Brokers Demand Regulations in Hopes to Build Trusted, Respectable Businesses

Tightened Identity Regulations Could Spell Trouble for Crypto Exchanges

June 12, 2019 by Anthonia Isichei at Regulation

The Financial Action Task Force (FATF) is set to release new rules and guidelines regarding the cryptocurrency market. Per a report on Bloomberg on June 11, 2019, the upgraded guidance seeks to apply bank rules to the innovative sector. Old Rules, New Tech With the continuous growth of the cryptocurrency sector, alongside its...

Malaysian Electricity Authority Nab Illegal Bitcoin Miners

Iran Removes Subsidy for Crypto Miners

June 11, 2019 by Ashwath Balakrishnan at Regulation

The Deputy Minister for Energy, Homayoun Haeri, stated that cryptocurrency miners in Iran will no longer have access to the country's electricity subsidy, and must pay the full cost to run miners, as reported by Financial Tribune on June 10, 2019. Cast Away Iran has been facing economic and political turmoil since...

Congressman Ted Budd Asks for Lower Taxes on Cryptocurrency Transactions

June 10, 2019 by Aisshwarya Tiwari at Regulation

Speaking at the U.S. House Ways and Means Committee on June 4, 2019, U.S. Republican Congressman Ted Budd mentioned two crypto specific bills he hopes would witness unanimous support from the Congress. These bills are titled The Cryptocurrency Tax Fairness Act, and the Virtual Value Tax Fix of 2018. Cryptocurrency...

Russian Nuclear Scientist Jailed for Illegally Mining Bitcoin

Russia Contemplates Ban on Mining Public Blockchain Tokens

June 10, 2019 by Ashwath Balakrishnan at Regulation

In an interview with a Russian media outlet, Chairman of the State Duma Committee on Financial Markets, Anatomy Aksakov, revealed that Russian lawmakers might potentially introduce a penalty for mining cryptocurrency on an open blockchain, as reported by Finance Feeds on June 10, 2019. Focus on Permissioned Ledgers Russian lawmakers are mulling...

G20 Finance Leaders Acknowledge Cryptocurrencies’ Technological Benefits for the Financial System

June 10, 2019 by Aisshwarya Tiwari at Regulation

Japan’s Ministry of Finance on June 9, 2019, published a joint statement from the various G20 finance ministers and central bank governors requesting the Financial Stability Board (FSB) to keep a close eye on risks surrounding crypto-assets. The two-day meeting in Fukuoka, Japan, took place over the weekend. Call for...

Man with Glasses and Gavel in the Background

Getting Clear on the Indian Crypto Ecosystem with Blockchain Lawyer Varun Sethi

June 8, 2019 by Aisshwarya Tiwari at Regulation

The world’s largest democracy recently held its general elections and as many political pundits had predicted, India’s mandate remained firmly with Narendra Modi’s Bharatiya Janata Party (BJP). However, for Modi, the battle is only half-won. Emulating a stellar political performance not witnessed since the early 80s, expectations from the Modi...

India’s Crypto Ban: Breaking Down the FUD

June 7, 2019 by Ashwath Balakrishnan at Regulation

A recent article by Bloomberg Quint reveals pictures of a supposed draft for a bill to ban cryptocurrency in India and offer a one to ten year jail term for mining, holding, or using crypto. The Indian crypto community was outraged at this possibility as it was published without citing a legitimate...

Big box of money below cuffed hands, Longfin on the box. Can't touch that money now.

Longfin CEO Charged by Prosecutors for Propping up Books

June 6, 2019 by Ashwath Balakrishnan at News, Regulation

Longfin, a FinTech company specializing in structured trade solutions, was previously charged by the SEC for securities fraud and froze $27 million worth of assets. In a press release, the SEC revealed they are now charging ex-CEO, Venkata Meenavalli, with cooking the books and faking 90 percent of the company's...

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