#regulation News

“No Cryptocurrency Ban,” Says Indian’s Minister of State for Finance

July 19, 2019 by Anthonia Isichei at Regulation

In the past months, there have been rumours about an imminent bitcoin ban in India. However, a government official recently stated that there were no plans to ban bitcoin or any cryptocurrency in the country as revealed in a July 16, 2019, Q&A with the nations Minister of Finance &...

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...

2008 Financial Crisis Predictor Roubini: “Blockchain Is Nothing More than a Glorified Spreadsheet”

Nouriel Roubini Opens Fire on Cryptocurrency Exchange BitMex and Arthur Hayes

July 18, 2019 by Ashwath Balakrishnan at Commentary

After a scathing attack on Arthur Hayes at the Asia Blockchain Summit, Roubini has once again hit out at BitMex in a blog post that covers his opinion on the cryptocurrency market, as reported by Bloomberg. Arthur Hayes was unfazed by Roubini's personal attacks and even gave it back to...

Cryptocurrencies standing proud waving the French flag blockchain

French Regulators Set to Approve Bitcoin-Linked Firms

July 18, 2019 by Ogwu Osaemezu Emmanuel at Regulation

France’s financial watchdog, the Financial Markets Authority (AMF) has announced plans to implement a new set of rules that will govern bitcoin and crypto-based businesses in the region. The regulation is expected to go live later this month, and it takes care of essential pain points like consumer protection, tax...

A Fiat dollar coin waving a digital currency flag blue purple

Report: Regulated Digital Money will Boost Global Payments Systems

July 17, 2019 by Ashwath Balakrishnan at News, Regulation

Supranational economic institutions have been studying the effects of cryptocurrency and blockchain. In a report released by the IMF, July 15, 2019, they highlight the potential for cryptocurrencies and traditional digital money to spark a new age of payments. In the future, it is idealised that cash dependence will severely...

Steven Mnuchin holding a pieceof paper with question marks and Libra on it, not looking happy at all.

U.S. Treasury Secretary Expresses Libra and Digital Asset Concerns

July 16, 2019 by Ashwath Balakrishnan at Regulation

Steve Mnuchin, the secretary for the United States Treasury, held a press briefing to address the sudden storm of cryptocurrencies led by the announcement of Libra. Mnuchin, along with other bureaucrats, expressed scepticism over the launch of Libra, going as far as drafting a bill to keep tech companies out...

The United States Seeks to Prohibit Big Tech from Banking and Finance

July 16, 2019 by Ashwath Balakrishnan at Regulation

A copy of draft legislation barring big tech from entering the banking industry and providing financial services has been doing the rounds. It is believed that this draft has been circulated amongst the House Financial Services Committee's Democratic majority. This is a direct response from big banking to the threat...

Building a blockchain with blue blocks of blockchain

Outlier Ventures: Blockchain Fundamentals and Market Growth have Never Been Stronger

July 12, 2019 by Ashwath Balakrishnan at Blockchain

In a report by Outlier Ventures head of research, Lawrence Lundy, the VC firm confirmed that data points signal a huge boom in crypto, and despite price lagging behind the market has never been stronger. The report looks at the whole ecosystem from an enterprise, consumer, and regulators perspective, July...

Putin checking out some bitcoin russia flag

Russia May Postpone Implementation of Cryptocurrency Law

July 11, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Anatoly Aksakov, head of the State Duma Committee on the Financial Market revealed that Russia's digital financial assets law has been practically agreed upon but it may be postponed to autumn because the authorities have been unable to reach a concrete agreement on how bitcoin and altcoins should be handled...

Facebook in a Meeting with a CFTC official statue of liberty in the background

Facebook Assures Senate Committee That They Will Play by the Rules

July 10, 2019 by Ashwath Balakrishnan at Altcoins

David Marcus, the head of Calibra, wrote a letter to the House Financial Services Committee solidifying Facebook's stance that they will ensure customer privacy and are taking their time to roll out Libra, allowing it to be done correctly, as reported by The Hill. Earlier this month, Marcus took to social...

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