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Cryptocurrency Friendly Swiss City to Trial Blockchain-Based Voting System

June 13, 2018 by contributor at Blockchain, News, Regulation, Tech

The small Swiss city of Zug will trial a blockchain-based voting procedure for citizens in June 2018. Results of the test will significantly determine the use of a distributed ledger technology for future governance purposes. Small Size, Large Impact The 118,118-citizen strong constituency of Zug, as per 2014 statistics, is...

U.K. Asks Banks to Scrutinize Cryptocurrency Businesses, Does Not Consider Asset Class as Criminal

June 13, 2018 by contributor at Bitcoin, Blockchain, News, Regulation

The CEOs of several major banks in the U.K. received a letter from the country’s Financial Conduct Authority (FCA) over the potential risks when dealing with cryptocurrencies on June 11, 2018. Cryptocurrency Firms Pose Risk to Financial Framework As per details of the letter, institutional banks and financial service firms...

Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

June 13, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Blockchain, News, Regulation

Canadian authorities have amended the nation’s anti-money laundering (AML) and anti-terrorism funding laws to foster orderliness in the finance and cryptocurrency industries by preventing deceitful individuals from exploiting regulatory loopholes in cryptocurrency exchanges and firms. Canada’s Fraud Crackdown As stated in the draft published by Canada Gazette, the Financial Action...

Ripple Urges South Korea to Amp up Cryptocurrency and Blockchain Regulations

June 13, 2018 by contributor at Bitcoin, Blockchain, Finance, News, Regulation, Tech

South Korea’s dominance in the traditional finance sector has been much less pronounced than its neighboring economies of Japan and China. However, the country is surging ahead with the world’s new cryptographic financial system catalyzed by the government's forbearing stance on the digital asset class. Korea’s Cryptocurrency Influence In the...

Lithuania Releases New ICO Guidelines

June 13, 2018 by Cindy Huynh at Altcoins, Commentary, News, Regulation, Tech

The Republic of Lithuania recently released Initial Coin Offering (ICO) guidelines for the nation on June 6, 2018. While it may be challenging to promote innovation while protecting consumers and the financial system of any potential shocks, Lithuania believes they can no longer ignore the development of emerging technologies such...

$1 Trillion Institutional Investor Catches the Bitcoin Fever

Crypto and Institutional Interest Converge in Manhattan for Day One of the BCI Investment Summit

June 12, 2018 by Liam J Kelly at Altcoins, Bitcoin, Blockchain, Commentary, Ethereum, Finance, News, Regulation, Tech

On June 11, 2018, investors converged, many for the first time, on the Metropolitan Pavilion in New York City for the BCI Summit to get a better idea of how to enter the cryptocurrency space. The intrigue of an explicitly finance-focused conference should also be another example of the mainstream...

SEC Chairman: Bitcoin is the only Cryptocurrency That Is not a Security

June 11, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Ethereum, Finance, News, Regulation

In the United States digital assets ecosystem, the Securities and Exchange Commission (SEC) exhibits the most significant regulatory influence. In the latest development, SEC Chairman Jay Clayton made it clear that bitcoin (BTC) is the only cryptocurrency that does not fall under the securities category since the pioneer cryptocurrency can...

Qfellow Program Incentivizes Cryptocurrency Enthusiasts to Weed out Fake ICOs

June 11, 2018 by Rahul Nambiampurath at Business, Finance, ICO/IEO, News, Regulation

Launched in August 2017, ConcourseQ has conducted strict due diligence for hundreds of Initial Coin Offerings (ICOs). Now, it is offering cryptocurrency enthusiasts an opportunity to safeguard the rest of the community from dubious coin issuers by surveying Qfellow reports. ConcourseQ and Qfellow ConcourseQ first started its Qfellowship program in...

Vladimir Putin Says Russia Not Interested in Developing National Cryptocurrency

June 11, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Mining, News, Regulation, Tech

Russia's relationship with the U.S. and other world powers has been anything but cordial in recent times. These sentiments have also been fueled by rumors that the former may soon develop a state-backed cryptocurrency to circumvent international sanctions. However, a recent speech by Russian President Vladimir Putin quelled rumors of a...

Tax Raid on Bithumb Found “No Illegal Activities such as Tax Evasion”

June 11, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, News, Regulation

Following the tax raid on Bithumb, South Korea's largest cryptocurrency exchange in January 2018, officials from the National Tax Service of South Korea have stated that their tax investigation of Bithumb turned up "no illegal activities such as tax evasion." The Gangnam Raid A team of over a dozen agents...

Bank of Thailand to Adopt Blockchain Technology

June 11, 2018 by Cindy Huynh at Blockchain, Finance, News, Regulation, Tech

Dr. Veerathai Santiprabhob, the Governor of the Bank of Thailand, announced the South East Asian country would use blockchain technology to improve existing banking applications. Blockchain Technology Gaining Momentum Santiprabhob made the announcement on June 5, 2018, at the Nomura Investment Forum in Singapore where he also expanded on the...

Canada Urges Caution as no Cryptocurrency Exchange Guarantees User Security

June 11, 2018 by Rahul Nambiampurath at Bitcoin, Blockchain, Regulation

The Canadian Securities Administrators (CSA) issued a warning note to investors on June 6, 2018, which called for caution when trading on cryptocurrency exchanges. Despite online exchanges claiming to be registered or verified, the CSA clarified that none of them were recognized officially in Canada. CSA Urges Caution The CSA...

“Cryptocurrencies Are Here to Stay,” Believes Founder of Saudi Arabian Remittance Firm

June 10, 2018 by contributor at Altcoins, Bitcoin, Blockchain, Business, Commentary, Finance, News, Regulation, Tech

According to Abdulaziz Al Jouf, CEO of Saudi based digital payments platform PayTabs, cryptocurrencies will succeed as an asset class regardless of the worldwide concerns around their unregulated and volatile nature. Can’t Control, Will Ban Speaking to the Arabian Business, Al Jouf said that he does not see digital currencies...

VanEck Inks Strategic Partnership with SolidX to Launch Bitcoin ETF

June 10, 2018 by Ogwu Osaemezu Emmanuel at Bitcoin, Business, Finance, News, Regulation

After trying twice without succeeding, New York-based investment management firm, VanEck has joined forces with SolidX blockchain and fintech firm, in a bid to launch a crypto-powered ETF. Strike One, Bitcoin ETF According to Business Wire, VanEck asset management company has declared it will partner with SolidX blockchain technology company...

Fidelity May Launch Cryptocurrency Exchange but Quietly Shuts Down Cryptocurrency Fund

June 10, 2018 by contributor at Altcoins, Bitcoin, Blockchain, Business, Ethereum, Finance, News, Regulation

Fidelity Investments is facing roadblocks on its way to being a digital currency player. While reports on June 5, 2018, suggested the institutional heavyweight is intent on building a cryptocurrency exchange, an additional report confirmed the firm’s closure of their much-celebrated cryptocurrency fund. Fidelity’s Cryptocurrency Exchange Push Fidelity has been...

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