Tag: regulation

The 16 licensed cryptocurrency exchange platforms in Japan have decided to come together to launch a self-regulatory body called the Japanese Cryptocurrency Exchange Association (JCEA). The decision of cooperation between exchanges comes after months of planning between representatives of the various platforms, trying to formulate an acceptable regulatory framework. According to a report on Asahi Shimbun, a local Japanese media…

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The High Court of Delhi has sought a response from the Central Government of India over a statement issued by the Reserve Bank Of India on April 6, 2018. Amidst other restrictions, it barred banks and other financial institutions across the country from providing any banking services to companies involved in dealing with cryptocurrencies. The High Court also directed the…

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In a bid to accentuate client interests in Bitcoin trading and other cryptocurrencies, Goldman Sachs has hired a crypto trader to run a dedicated trading desk. Last week, Justin Schmidt joined Goldman Sach’s securities division as VP and chairperson of digital asset markets. Previously, he was a senior VP at Seven Eight Capital and a portfolio manager at LMR Partners…

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According to a report in the local media outlet, IRNA which was quoted by Reuters on Sunday, April 22, 2018, Iran has become the latest country to have its apex bank prohibit other banks from engaging in crypto transactions. The central banks of India, Nigeria, and Pakistan are among some of the others to have issued such a ruling. According…

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Xunlei, a China-based multinational firm has been dragged to Court by investors who feel they were deceived by the firm to invest in its ICO project in 2017. Initial Coin Offering or Puff of Smoke? The CEO of Xunlei, Chen Lei has strongly refuted accusations leveled against his firm claiming that they misled investors in a bid to organize a…

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Russia banned the app after the company refused to hand over encryption keys to unscramble messages. In response, activists took to the streets with paper planes, launching the small colored origami models at the cold facade of the Kremlin. Flying Planes for Internet Freedom The performance lasted no longer than fifteen minutes, and some protestors, including Pussy Riot’s Maria Alyokhina,…

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At a time when several cities and nation-states of the world are warming up to regulating the blockchain and cryptocurrency ecosystem, Kraken, a pioneer bitcoin and altcoin exchange, have made it clear to New York regulators that it won’t respond to their irrelevant inquiries. Mind Your Own Business At current, several cities in the United States are tailoring their cryptocurrency…

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In September 2017, South Korea – one of the world’s most crypto-friendly nations – took a not-so-friendly decision; to ban all Korean ICOs. A bout of panic selling broke out, with multiple blockchain startups in Korea fearing the worst. However in 2018, native cryptocurrency companies have found a way that keeps investors, and the government, happy. If you have been…

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Just like in the traditional finance system, bad actors are gradually infiltrating into the nascent world of virtual currencies. Heists and crypto-related robberies are steadily on the increase, almost in tandem with the meteoric rise of the price of bitcoin and the altcoins. Amidst this backdrop, a Senator in the Philippines is calling for more severe punishments for ‘cryptocriminals,’ in…

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The Securities and Exchange Commission filed additional fraud charges against a third co-founder of Central Tech’s $32 million initial coin offering, which had been endorsed by boxing champion Floyd Mayweather and music producer DJ Khaled. Raymond Trapani was charged with fraud in an amended complaint filed by the SEC on April 20. Centra’s two other co-founders, Sohrab Sharma and Robert…

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