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Tag: central bank

New Book “The Bitcoin Standard” Touts Bitcoin as an Alternative to Central Banking

Category: Bitcoin, Finance, News, Regulation, Tech

New Book “The Bitcoin Standard” Touts Bitcoin as an Alternative to Central Banking

Academic Saifedean Ammous recently published a book called “The Bitcoin Standard.” In it, Ammous discusses the history of money and other mediums of exchange, the relationship between economics and various aspects of society, and explores what constitutes “good” money, drawing heavily from the Austrian school of economics. Most importantly, Ammous discusses why bitcoin may be able to provide a viable…

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India Admits to not Conducting Due Research before Placing Cryptocurrency Ban

Category: Altcoins, Bitcoin, Business, Finance, News, Regulation

India Admits to not Conducting Due Research before Placing Cryptocurrency Ban

A reply by the Reserve Bank of India (RBI) to a New Delhi-based advocate’s Right To Information (RTI) application revealed the bank did not research before placing a blanket ban on dealing with digital currency businesses in the country. RBI’s Epistemic Crisis The Economic Times reported the development on June 13, 2018, after lawyer Varun Sethi, a self-styled blockchain lawyer,…

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South Africa Central Bank: “Cryptocurrencies Don’t Meet Requirements For Money”

Category: Altcoins, Bitcoin, Commentary, Finance, News, Regulation

South Africa Central Bank: “Cryptocurrencies Don’t Meet Requirements For Money”

South Africa is the latest country to try and classify cryptocurrencies as it looks to regulate the industry and generate income tax. According to the country’s Central Bank, digital currencies such as bitcoin (BTC) are mere “cyber-tokens” that don’t meet the criteria to be categorized as money. South African Cryptocurrency Classification According to Francois Groepe, the Reserve Bank Deputy Governor,…

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Central Bank of Norway to Develop Digital Currency Following Decline in Cash Usage

Category: Altcoins, Finance, News, Regulation

Central Bank of Norway to Develop Digital Currency Following Decline in Cash Usage

Prompted by the decline in cash usage, Norges Bank, a central financial institution of Norway, is looking forward to developing its own cryptocurrency. As per Norges Bank’s recent report, dubbed the “Central Bank Digital Currency”(CBDC), plans to act as an alternative to fiat currency to “ensure confidence in money and monetary system.” Other central banks are also analyzing the possibility…

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Chinese Authorities: We Have Successfully Shutdown all ICOs and Cryptocurrency Businesses in China

Category: Altcoins, Bitcoin, Blockchain, Ethereum, Finance, News, Regulation

Chinese Authorities: We Have Successfully Shutdown all ICOs and Cryptocurrency Businesses in China

China declared total war on its local virtual currency environment by placing a blanket ban on initial coin offerings (ICOs) and cryptocurrencies such as bitcoin and other altcoins, late 2017. Now, the Chinese authorities have declared total victory, stating that all relevant businesses have indeed been crushed. A Close Watch on Fundraisers According to Reuters, major financial regulatory bodies in…

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Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

Category: Blockchain, Business, News, Regulation

Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

The Vietnamese market is under the eye of the government as of late due to a scam which saw a reported VND 150 trillion ($650 million) stolen from local Vietnamese investors on April 8, 2018. Rallying All the Ministries Around New Crypto Directive The Vietnamese firm responsible had its office raided in Ho Chi Minh City on Sunday, April 8th,…

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Polish News Hints at Bitfinex, Bitcoin, and Colombian Cartel Connection

Category: Altcoins, Bitcoin, Finance, News, Regulation

Polish News Hints at Bitfinex, Bitcoin, and Colombian Cartel Connection

The Polish media have made a tenuous link between the arrest of two companies on suspicion of money laundering, and the cryptocurrency exchange Bitfinex. The news comes two months after it emerged that Polish Central Bank had funded a social media campaign against crypto. But is this latest scandal another smear campaign, or a legitimate claim? Verifying a Network of…

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India Bans Banks from Dealing With Crypto Businesses, Says it Would Launch its Own Coin

Category: Altcoins, Bitcoin, Blockchain, News, Regulation

India Bans Banks from Dealing With Crypto Businesses, Says it Would Launch its Own Coin

In a startling move, the Reserve Bank Of India (RBI) virtually banned cryptocurrencies on April 5, 2018, as they passed a mandate which bars banks and regulated financial institutions from providing services to any individual or business dealing in digital currencies. Lost, but not Forgotten As part of its move, the bank gave an ultimatum of three months to all…

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Thailand Scares off Crypto-related Startups after Unveiling Taxation Measures

Category: Altcoins, Business, Finance, News, Regulation

Thailand Scares off Crypto-related Startups after Unveiling Taxation Measures

Thailand’s Finance Minister Apisak Tantivorawong announced on March 27, 2018, that the country’s military regime is planning to tax cryptocurrency. The move is creating uncertainty in a region which is promoting Singapore to stay ahead and take control of the leadership in the sector. Cutting out a Slice of the Pie The country’s military leaders want to impose taxation on…

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Central Bank of Malaysia Strikes Coinzer ICO for Exploiting Their Logo

Category: Altcoins, News, Regulation

Central Bank of Malaysia Strikes Coinzer ICO for Exploiting Their Logo

The Central Bank of Malaysia, Bank Negara Malaysia (BNM), officially flagged a Malaysian ICO ‘Coinzer’ on March 11, 2018, for using their logo and Jata Negara, the Malaysian Coat of Arms, on their proposed token. The BNM has cautioned customer and asked them to disassociate with the coin. Coinzer Exploits BNM Logo, Coat of Arms, and Malaysia Symbol The ICO…

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