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Russia to Allow Cryptocurrencies Trading on Stock and Commodity exchanges

Russia: Cryptocurrency to Fiat Transactions Exceeding $9,600 Must Be Reported

April 17, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Mining, News, Regulation

In the latest development, the Russian Federation announced on April 12, 2018, that all crypto transactions that exceed 600 rubles must be scrutinized. Latest Review On March 6, 2018, the Russian Ministry of Finance reportedly announced it was formulating a regulation to criminalize the use of blockchain-based virtual currencies as...

China Crypto Crackdown iIs a Much Needed Cleanse, Says NEO Founder

China Crypto Crackdown Is a Much Needed Cleanse, Says NEO Founder

April 17, 2018 by Kieran Smith at Altcoins, Bitcoin, Blockchain, Business, Commentary, Finance, News, Regulation

In an interview with the Hong Kong Economic Journal, NEO founder Da Hong-fei said that the China cryptocurrency regulation has been effective at eradicating the scams and fraudulent ICOs that trouble the market. Bubble of Innovation Hong-fei founded NEO in 2014, long before the frenzy of unregulated Initial Coin Offerings...

Washington County Gives Go-Ahead for Bitmain’s Subsidiary Ant Creek’s Mining Operation

April 17, 2018 by contributor at Altcoins, Bitcoin, Business, Commentary, Mining, News, Regulation

On April 13, 2018, Bitmain, the Chinese cryptocurrency mining giant, and the Port of Walla Walla in Washington State discussed terms for a ten-acre land lease, said local news reports. The land shall be used to develop a “small scale operation” for Bitmain’s subsidiary - Ant Creek LLC. Public Concerned...

BitLicense Discussion (Pt.2): “Regulation Kills Innovation in NY Bitcoin Space!”

April 17, 2018 by Rahul Nambiampurath at Altcoins, Bitcoin, Business, Finance, News, Regulation

The cryptocurrency community has long criticized BitLicense as a harmful law that destroyed bitcoin and related businesses in the state of New York. The New York Department of Financial Services (NYDFS) released the document in July 2015 to regulate crypto activity in the state, but its unveiling also meant that many startups...

Chinese Research Body Admits that Banning Cryptocurrency is Difficult

April 16, 2018 by Kieran Smith at Bitcoin, Commentary, News, Regulation

The government newspaper of China, The People’s Daily, has today printed a feature that recognizes the profound impact cryptocurrencies could have, and concedes that they are challenging to ban entirely. The feature, titled ‘The Ideal and Reality of Digital Currency,’ is written by a representative from the Chinese Academy of...

Issuing BitLicense Boosted Business, Says Head Of New York Finance Services

April 16, 2018 by contributor at Altcoins, Bitcoin, Business, Finance, News, Regulation

In a bid to maintain its position as one of the initial regulators of digital currency, the New York State Department of Financial services is taking specific steps. With the introduction of the blockchain-focused BitLicense in August 2015, Mario Vullo, the superintendent of NYDFS, displayed her agency’s contribution towards the...

Ripple Asks UK Government To “End the Wild West Days,” Introduce Regulations

April 16, 2018 by contributor at Altcoins, Bitcoin, Business, Finance, News, Regulation

Owing to the “Wild West” days- meaning no laws or regulations present - of the cryptocurrency market, Ripple, the world’s third largest digital currency, has encouraged the British regulators to follow Japan’s example of the implementation of new rules to end any crypto-frauds. Crypto-Markets Need Regulations The UK regulators were...

IRS: Cryptocurrency is a Property & Swaps are Taxable

Majority of Americans Yet to Declare Cryptocurrency Gains as Tax Filing Deadline Draws Near

April 16, 2018 by Priyeshu Garg at Bitcoin, Business, Finance, News, Regulation

With the U.S. tax filing deadline less than a week away, many Americans are yet to declare their cryptocurrency gains. According to the data released by Credit Karma on Friday, April 13, 2018. Less than 100 out of the first 250,000 tax filings via the Credit Karma platform have reported...

Latvian Government to Tax Bitcoin Transactions

April 16, 2018 by contributor at Altcoins, Bitcoin, Finance, News, Regulation

While governments around the world debate over the legality of cryptocurrencies, Latvia has a simple solution to keep the industry running; Make it legal and charge high taxes. Additionally, the government is mulling over the introduction of clear regulations for digital currencies. Latvian Government Discusses Crypto In the first week...

Authorities Blame Bitcoin for Rising Drug Usage, Fail to Consider Loopholes

April 16, 2018 by contributor at Bitcoin, Blockchain, News, Regulation

Designed as a peer-to-peer, borderless, digital payment solution, bitcoin (BTC) continually finds itself shrouded in controversies, scams, uninformed media claims and, unfortunately, dark net marketplaces. Bitcoin’s Properties Make It a Perfect Darknet Currency Although bitcoin’s existence is that of a simple digital token, its misuse results in widespread legal crackdowns....

Bermuda Prepares Regulation for Blossoming Cryptocurrency Ecosystem

April 16, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Business, News, Regulation

At a time when the ‘big nations’ are busy dragging their feet concerning the favorable regulation of the virtual currency industry, Bermuda, the self-governing British overseas territory island nation is putting the finishing touches to its crypto regulation plans. Bermuda’s Regulatory Body Seeks Feedback The Bermuda Monetary Authority (BMA) is...

After Launching Massive ICO, Telegram Is Now Banned in Russia

April 14, 2018 by Kieran Smith at Altcoins, Business, News, Regulation

Just weeks after launching one of the most successful ICOs ever, Telegram is to be banned in Russia. The ruling came after the company refused to yield encryption keys to the Russian authorities and Moscow has now ordered telecommunications companies to block the app. Why Telegram? Russia’s Federal Security Service...

After Binance, OKEx Announces Malta Expansion Plans

April 13, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, Finance, News, Regulation

OKEx, a major cryptocurrency exchange platform has announced plans to set up shop in the tiny island nation of Malta. The plan was made known via a post on the platform’s website on 12 April 2018. OKEx becomes the second dominant cryptocurrency exchange platform to announce a move to Malta...

Crypto Exchange bitFlyer Upgrades User Verification Process after FSA Criticism

April 13, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, Finance, News, Regulation

BitFlyer, one of the largest cryptocurrency exchange platforms based in Japan has made some changes to its user verification process. BitFlyer user verification element was introduced after the platform came under scrutiny from the Japanese Financial Services Agency (FSA), on account of the perceived weakness of the platform’s user verification...

Backpage.com Accused of Using Bitcoin to Launder Prostitution Revenue

Backpage.com Accused of Using Bitcoin to Launder Illicit Ad Revenue

April 13, 2018 by Rahul Nambiampurath at Bitcoin, Business, News, Regulation

The online classified website Backpage, which was previously accused of facilitating prostitution, has finally been seized by American law agencies. Prostitution, not Dating Advertisements The move came after a grand jury in Arizona indicted seven employees of the company on March 28, 2018. It is alleged that executives of the...

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