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London Blockchain Week • January 20-26, 2017

London Blockchain Week kicks off with a Hackathon, followed by a two-day conference on Bitcoin, Blockchain and Distributed Ledger Technology…

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Category: Regulation

Coinbase CEO Asks IRS For Reasonable Agreement

Category: Bitcoin, Finance, News, Regulation

Coinbase CEO Asks IRS For Reasonable Agreement

Brian Armstrong, CEO of prominent bitcoin exchange and wallet platform Coinbase, firmly believes the Internal Revenue Service (IRS) provided an unfair assumption that the majority of Coinbase users are evading taxes. Armstrong and his team are asking the IRS for a more reasonable agreement and an alternative approach in dealing with the matter. In late 2016, the IRS sent Coinbase...

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Russia's Government and Largest Bank are Looking More Favorably on Bitcoin

Category: Bitcoin, Commentary, News, Regulation

Russia's Government and Largest Bank are Looking More Favorably on Bitcoin

The central bank of Russia, better known as the Bank of Russia, does not plan to impose a ban on Bitcoin. Olga Skorobogatova, the Deputy Governor of the Bank of Russia, announced on January 12 that the central bank nor the government would prohibit the usage of bitcoin. Skorobogatova emphasized the complexity and sophistication of bitcoin and explained that the...

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Chinese Exchanges Retract Margin Trading, Calms Volatility

Category: Bitcoin, Commentary, News, Regulation

Chinese Exchanges Retract Margin Trading, Calms Volatility

With the Bitcoin community captivated by recent price movements, everyone is looking to where the market, namely China, goes next. With the majority of hash rate, trading volume, and Bitcoin startup companies sourced in China, the events that occur within Chinese borders have such a noticeable effect on what is supposed to be a decentralized cryptocurrency. How Far Does the...

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China's Central Bank Continues to Probe Bitcoin Exchanges

Category: Bitcoin, Commentary, News, Regulation

China's Central Bank Continues to Probe Bitcoin Exchanges

China’s central announced the launch of ongoing spot checks on Chinese bitcoin exchanges on January 11, forcing the price of bitcoin down even further, trading just below $790 at the time of writing. While there has been no statement made that the appropriate regulations are not being adhered to, the People’s Bank of China (PBOC) said its probe was to...

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Indonesia Tightens Fintech Regulations, Bitcoin Adoption On the Rise

Category: Bitcoin, Business, Commentary, News, Regulation

Indonesia Tightens Fintech Regulations, Bitcoin Adoption On the Rise

Indonesia’s Financial Services Authority called Otoritas Jasa Keuangan (OJK) passed an important regulation, requiring fintech startups to maintain at least $185,000 in capital to obtain a business license from the government’s agency. The new regulation comes amidst a wave of bitcoin adoption in the country. Basic Capital Requirement Enacted on Startups The newly passed regulation is an essential part of...

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Ambisafe Inc. and ICOrating Partner to Form “Moody's” of ICO Investing

Category: Altcoins, Bitcoin, Finance, News, Regulation

Ambisafe Inc. and ICOrating Partner to Form “Moody's” of ICO Investing

As the cryptocurrency economy continues to mature, investors have been funding blockchain startups with millions of dollars through what the crypto world calls "ICOs," or Initial Coin Offerings. To help individuals and institutional investors make informed decisions, U.S. corporation Ambisafe Inc. has partnered with Russian rating agency ICOrating, to analyze the burgeoning ICO market. The term ICO is an almost...

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Colombia Declares Bitcoin Illegal, Peso is the Only "Valid" Currency

Category: Bitcoin, News, Regulation

Colombia Declares Bitcoin Illegal, Peso is the Only

The Superintendecia de Sociedades, a regulatory agency of the government of Colombia, has declared digital currencies including bitcoin illegal, stating only the Colombian Peso is permitted for transactions according to Panampost and El Tiempo, two South American-focused news outlets. Francisco Reyes Villamizar, the head of the Superintendencia de Sociedades, described bitcoin as a fraudulent investment scheme, in which users convince...

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Zug, the Heart of the Swiss Crypto Valley, Warms to Bitcoin

Category: Bitcoin, Finance, News, Regulation

Zug, the Heart of the Swiss Crypto Valley, Warms to Bitcoin

The little Swiss city of Zug became famous worldwide for being the first city to accept bitcoin for municipal services. Now the city says it has had “positive experiences” with accepting bitcoin - and that it plans to adopt non-monetary blockchain applications for the city’s administration. Zug, the capital of Swiss canton Zug, is a remarkable town. With just 23,000...

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Russia's Ministry of Finance Wants to Legalize Bitcoin

Category: Bitcoin, News, Regulation

Russia's Ministry of Finance Wants to Legalize Bitcoin

Bitcoin and other cryptocurrencies should be treated like foreign currency, the Russian Ministry of Finance suggests while Bitcoin transactions could spark the suspicion of illegal activities. Russia’s position on cryptocurrencies is an enigma. For years there have been rumors that the government plans to ban Bitcoin and impose harsh penalties of up to four years in prison. Yet still, legal...

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Direct Bitcoin Trading is Not Money Transmission in Texas and Illinois

Category: Bitcoin, News, Regulation

Direct Bitcoin Trading is Not Money Transmission in Texas and Illinois

Financial regulations on cryptocurrency and bitcoin trading are changing in some regions. Texas and Illinois, two states of the US, recently announced that the direct trading of bitcoin is not overseen by money transmission regulations, which means that it is not under consideration for taxes, regulations, and KYC policy requirements. Marco Santori, a bitcoin specialist and the head of FinTech...

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