Tag: regulation

South Korean cryptocurrency exchange Zeniex will terminate its services due to increasing government pressure on unauthorized digital currency exchanges. According to Zeniex’s website post, published on November 9, 2018, the cryptocurrency exchange noted that operating amidst a government crackdown on the industry will be a challenging feat. Closing Down Due to Government Pressure The cryptocurrency exchange opened on May 8,…

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In a report titled, “Freedom on the Net 2018: The Rise of Digital Authoritarianism,” an independent human rights watchdog, Freedom House, has uncovered alarming levels of declining Internet freedom across the world. The Rise of Digital Authoritarianism Freedom House is a non-governmental organization dedicated to upholding democracy and human rights. The organization has been in existence since 1941 and creates…

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On October 18, the U.S. Securities and Exchange Commission (SEC) ordered a New York-based firm Gelfman Blueprint, Inc. and CEO Nicholas Gelfman to pay $2.5 million in fines and restitution for running a Bitcoin Ponzi scheme. The indicted Nicholas Gelfman and his company presented false investor reports to other investors assuring them of profits. Brought to Book Interestingly, this is…

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Crypto Fund AG, a subsidiary of Crypto Finance AG, has become Switzerland’s first firm to be issued an asset manager license by the country’s financial regulator Swiss Financial Market Supervisory Authority (FINMA).. FINMA Awards First License to a Crypto Firm With the new approval, Crypto Fund AG will enjoy the same regulatory environment as other traditional asset managers. The Zug-based…

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California’s campaign watchdog arm, the Fair Political Practices Commission, ruled that candidates will not be allowed to receive donations for political campaigns with cryptocurrencies like bitcoin, the Associated Press reported on September 21, 2018. Cryptocurrency Donations a Threat to Political Transparency A new ruling from the state’s political watchdog says that candidates running for public offices in the state of…

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India is currently witnessing the mass movement of blockchain and cryptocurrency talent, as the regulatory environment toughens within the country. According to an article published by News18 on September 19, 2018, blockchain talent which includes developers, service providers, and blockchain-related companies are moving abroad to cryptocurrency-friendly countries like Thailand, Estonia, and Switzerland. Blockchain Destinations Attracting Indian Talent “There are talented…

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High-profile cryptocurrency companies and well-known technology entrepreneurs announced on September 11, 2018, that they will form a lobbying group in Washington called the Blockchain Association. According to the Washington Post, the Blockchain Association is designed to represent investors and entrepreneurs who are building and supporting blockchain technology. Coinbase, Circle, and PolyChain Capital The Association’s goal is to become the industry’s…

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Singaporean cryptocurrency exchange, KuCoin is set to enter the Australian waters as it looks to expand its operations down under. Per a report by The Australian Financial Review on September 9, 2018, KuCoin has made an investment of $3 million in the Aussie exchange Bitcoin Australia. Along with this, the two have entered into a joint venture to scale up…

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Belgium’s chief financial regulator, the Financial Services and Markets Authority (FSMA), has issued warnings about the spread of illegitimate crypto and blockchain platforms, adding 28 new websites to its blacklist on September 4, 2018. A Sea of Scammer Crypto Platforms As fraudulent cryptocurrency trading platforms continue to present problems for Belgian investors, the country’s financial regulator has issued several warnings…

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South Korean authorities are collaborating with the Walton Blockchain Research Institute to make 42 people proficient in Blockchain technology and get immediate employment in the country, as first reported by local news source Kinews on August 3, 2018. $100 Billion DLT Development Strategy According to sources close to the matter, key government parastatals in crypto-friendly South Korea including the Ministry…

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