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U.K. Government Squashes Royal Mint’s Plans to Launch Gold-backed Cryptocurrency

October 28, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Finance, News, Platform, Regulation

Britain’s Royal Mint, a wholly government-owned mint whose primary objective is to create gold and silver coins for the state, will not be launching its gold-backed cryptocurrency any time soon, as the U.K. authorities have kicked against it, reported Reuters on October 23, 2018. Royal Mint’s Digital Gold Ambition Sees...

Shenzhen Court Says Bitcoin Should Be Legally Protected as Property

October 28, 2018 by Priyeshu Garg at Bitcoin, Finance, News, Platform, Regulation

An arbitration body in China has ruled that despite the country's central bank's ban on cryptocurrency trading, bitcoin should still be legally protected as a property with economic values, Shenzhen Court announced on their official WeChat account on October 25, 2018. Chinese Court Confirms Bitcoin Protected by Law The Shenzhen...

Nasscom Urges Indian Startups to Shy away from Cryptocurrency

October 27, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Business, Finance, News, Regulation

Debjani Ghosh, the president of the National Association of Software and Services Companies (NASSCOM), a nonprofit body focused on handling India's information technology sector, has said that bitcoin and other digital assets are illegal in India. As such, businesses are required to desist from engaging in crypto-related activities, reported the...

Spanish Regulators Mandate Cryptocurrency Holders to Formally Identify Themselves

October 26, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Business, Exchange, Finance, News, Regulation

The Spanish government has reportedly approved a draft law that will make it mandatory for digital asset holders with over €50,000 ($57,000) in their cryptocurrency wallets to identify themselves and announce their exact holdings. This new rule is targeted at curbing cryptocurrency tax evasion, according to a Finance Magnates report...

Japan’s Financial Regulator Discussing Caps on Crypto Margin Trading

October 26, 2018 by Priyeshu Garg at Altcoins, Business, Investment, News, Regulation

Japan's Financial Services Agency (FSA) is planning to put a cap on the leverage available for crypto margin trading to curb speculation and risk, Nikkei Asian Review reported on October 25, 2018. Caps on Cryptocurrency Margin Trades Weighed in Japan Japan's financial watchdog is reportedly planning to put a cap...

Japanese Cryptocurrency Exchanges now Allowed to Self-Regulate Operations

October 25, 2018 by contributor at Business, Exchange, Finance, Investment, News, Regulation

Cryptocurrency businesses in Japan can now self-regulate their operations, as per a recent Financial Services Agency (FSA) directive reported by Reuters on October 24, 2018. Japan Turns to Self-Regulation The self-regulation dictum was extended for supporting the growth of the burgeoning digital assets sector in Japan. Previously, local cryptocurrency exchanges...

Bitcoin, Ether, XRP Weekly Market Update: October 25, 2018

October 25, 2018 by Georgi Hristov at Altcoins, Bitcoin, Business, Exchange, News, Price Analysis, Regulation

BTC dropped $120 of its value and closed the trading day on October 18 at $6,615. The loss constituted its most significant one-day drop since October 11. BTC-USD On the same day, observers saw the Chicago Mercantile Exchange (CME) reporting significant growth in BTC Futures trading in Q3. The exchange...

Bitcoin ATMs Becoming Increasingly Commonplace in U.S. State of Michigan

India’s First Cryptocurrency ATM Confiscated by the Police, Unocoin Co-founder in Custody

October 25, 2018 by Aisshwarya Tiwari at Bitcoin, Business, Crime, News, Regulation

The local police have confiscated the recently launched Bitcoin ATM in India by Unocoin Technologies on the grounds of it being “illegal” as it was set up without any government approvals, The Times of India reports October 24, 2018. Unocoin Co-Founder in Custody Harish BV, the co-founder of Unocoin Technologies,...

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Trezor Wallet Adds Crypto Exchange Support with the Help of ShapeShift and Changelly

October 24, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, News, Regulation

SatoshiLabs, the Prague-based maker of the popular crypto hardware wallet Trezor, has enabled its Model T users to exchange coins directly through their wallet interface, the company announced in a blog post on October 22, 2018. Convert Bitcoin to Other Cryptocurrencies Right from Device SatoshiLabs, one of the most recognized...

Chinese Authorities Propose the First Set of Blockchain-Specific Regulations

October 23, 2018 by Priyeshu Garg at Altcoins, Business, News, Regulation, Tech

The Cyberspace Administration of China (CAC) published a draft policy framework on Oct 19, 2018, to regulate blockchain-powered services in the country. The leading internet censorship agency said it is open for public feedback till November 2, 2018, before finalizing the implementation of the new policy. First Step Toward Blockchain...

The Government of Gibraltar to Create Blockchain-Related Education Courses

October 23, 2018 by Cindy Huynh at Adoption, Blockchain, Business, News, Regulation

The Government of Gibraltar recently launched the New Technologies in Education (NTiE) Advisory Group, a group responsible for addressing the growing demand for skills in the emerging technology sector. According to the Gibraltar Chronicle’s article published on October 19, 2018, one of their focus areas is to create educational material...

A Legal Framework for Blockchain – Made in Germany – with the Help of Startups like Lition

October 22, 2018 by Guest Post at Adoption, Blockchain, Investment, Regulation

Blockchain is primed to disrupt the future of business as we know it, and German lawmakers are all for it. The CDU/CSU and SPD coalitions (major German political parties, for the uninitiated) aim to lead the European blockchain charge in developing a comprehensive blockchain strategy that fosters innovation and nurtures...

Gran West Agreed to Comply with Judge to Reimburse £900,000 worth of Bitcoin to his victims

Crypto Ponzi Scammer Ordered to Pay $2.5 Million for Duping Investors

October 22, 2018 by Pratik Makadiya at Business, Crime, Finance, Investment, News, Regulation

On October 18, the U.S. Securities and Exchange Commission (SEC) ordered a New York-based firm Gelfman Blueprint, Inc. and CEO Nicholas Gelfman to pay $2.5 million in fines and restitution for running a Bitcoin Ponzi scheme. The indicted Nicholas Gelfman and his company presented false investor reports to other investors...

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Japan Looks to Ease Tax Reporting of Cryptocurrency Gains and Profits

October 20, 2018 by Aisshwarya Tiwari at Altcoins, Bitcoin, Exchange, News, Regulation

To establish a seamless tax reporting mechanism for cryptocurrency gains in Japan, the Japanese Tax Commission held a debate on October 17, 2018, per a report by the local media outlet Sankei News. Standardization of Tax Filing Process According to the report published, the Japanese Tax Commission is contemplating ways...

World Payments Report: Public DLT Fails to Meet Financial Market Demands

October 19, 2018 by Cindy Huynh at Altcoins, Blockchain, News, Platform, Regulation, Tech

While the International Word Bank Organization believes that distributed ledger technology (DLT) could fundamentally transform the existing financial sector, the World Payments Report 2018, published on October 16, 2018, concludes DLT cannot keep up with the financial market demands due to many problems and challenges facing DLT adoption. Public DLT Technology...

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