#digital assets News

AICPA Unveils Practices to Simplify Cryptoasset Accounting

December 17, 2019 by Ogwu Osaemezu Emmanuel at Regulation

In an effort to enable accounting and auditing firms that service cryptocurrency-linked businesses to formulate accurate and error-free financial statements, audits and more, in a seamless manner, the Digital Assets Working Group of the American Institute of Certified Public Accountants (AICPA), has launched a new practice aid, according to a...

Fidelity Digital Assets Expands Operations into Europe

December 17, 2019 by Aisshwarya Tiwari at Blockchain

In a press release issued on December 17, 2019, Fidelity Investment’s cryptocurrency arm – Fidelity Digital Assets – announced that it is expanding its business operations into Europe through the U.K. Capturing the Market Across the Atlantic Fidelity Investments is inarguably one of the most well-known and significant financial institutions...

Thailand’s Securities Regulator will Update Laws to Cultivate Digital Asset Innovation

November 26, 2019 by Ashwath Balakrishnan at Regulation

The Thailand Securities and Exchange Commission (SEC) has announced they are looking into amending the royal decree issued for digital assets in May 2018. According to the Bangkok Post, the SEC has already given certain crypto companies permission to legally operate and serve customers in the region, November 25, 2019. Light...

U.K. Classifies Cryptocurrencies as Property Under English Law

November 19, 2019 by Osato Avan-Nomayo at Regulation

The U.K. is now the latest jurisdiction to classify cryptocurrencies and virtual assets as property. The Times reports that a legal panel chaired by Sir Geoffrey Vos, Chancellor of the High Court reached the decision which presents significant implications for the legality of cryptocurrencies and blockchain assets in the U.K....

Captain America Bitcoin Running Blue Red White

CFTC Chairman: The U.S. Should be the Global Leader in Crypto Asset Development

November 13, 2019 by Anthonia Isichei at Regulation

Heath Tarbert, the head of the United States Commodity and Futures Trading Commission (CFTC), says the country ought to be leading the global crypto market. Per a report by Law 360, Chairman Tarbert also says the country’s financial watchdogs and the U.S. Congress should consider simplifying the regulatory framework for...

Bitcoin being absolutely electric and gold

Welsh Cryptocurrency Insurance Startup Coincover Protects Digital Funds from Theft or Loss

September 24, 2019 by Edoardo Vecchio at Bitcoin

Welsh startup Coincover, which specializes in digital asset insurance, has been selected by the UK’s Department for International Trade (DIT) as one of the best insurtech companies for their 24/7 crypto-monitoring service. Secure Your Crypto, Even Online One of the first hurdles when approaching the world of cryptocurrencies is certainly...

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Brazil: Central Bank Adopts IMF Cryptocurrency Guidelines

August 27, 2019 by Aisshwarya Tiwari at Regulation

Brazil’s Central Bank, Banco Central de Brasil, published an official notice on August 26, 2019, stating that it had adopted the International Monetary Funds’ (IMF) guidelines with regard to cryptocurrency assets. Non-Financial Products In a major development in the Latin American cryptospace, Brazil’s lender of the last resort – Banco...

Spaceman making his way to Binance Venus

Binance to Launch “Venus” Stablecoin Network

August 19, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Binance, the largest Bitcoin (BTC) and altcoin trading venue in the world by reported trading volume, has announced plans to launch an open distributed ledger technology (DLT) network called Venus, to make it easier for entities to create localized fiat-backed stablecoins, according to a blog post on August 19, 2019....

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FINRA Requests Financial Firms Report to them Prior to Dealing with Digital Assets

July 21, 2019 by Ashwath Balakrishnan at Regulation

The Financial Industry Regulatory Authority (FINRA) previously asked its member firms to inform them before they engaged in activities relating to digital assets. In a new notice, FINRA has confirmed the continuation of this rule along with a few more added clauses in an attempt to set a precedent for...

Legally protected Bitcoin. Virtual property house

China Acknowledges Value of Bitcoin in Landmark Ruling

July 19, 2019 by Ashwath Balakrishnan at Bitcoin

The first case regarding Bitcoin as a commodity in China led to the Hangzhou Internet Court pronouncing it as virtual property. The court said Bitcoin has value, scarcity, and can be disposed, giving it the necessary attributes of a digital currency with inherent utility. China has been vocally critical of...

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