Tag: Government

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Report urges US government to focus on blockchain, crypto and a ‘digital dollar’

February 16, 2021

Will the new Biden–Harris administration be able to enforce a technology strategy focused on blockchain, cryptocurrency and digital assets? As the COVID-19 pandemic unfolds, the Biden–Harris administration has begun implementing new strategies to restore the U.S. economy. While notable, implementing emerging technologies, while ensuring data privacy, should also be a top priority for the White House administration…
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Russian Duma prepares bill on cryptocurrency taxation

February 16, 2021

The Russian State Duma will consider a new bill on cryptocurrency taxation on Feb. 17. Russian lawmakers are actively preparing new legislation for taxing cryptocurrencies like Bitcoin (BTC). According to an official announcement by the Russian State Duma, the Duma’s Committee on State Building and Legislation has approved a bill on cryptocurrency taxation on Feb.…
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Thai SEC schedules hearings to address crypto investor qualifications

February 15, 2021

The SEC of Thailand is looking to establish qualifications for crypto investors as digital currency purchases increase. A major financial regulator in Thailand is looking to determine qualifications for cryptocurrency traders to ensure investor protection. The Securities and Exchange Commission of Thailand has scheduled a public hearing this month to address specific requirements for investors…
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Exchanges warn that Hong Kong’s crypto retail trader ban could backfire

February 15, 2021

Crypto industry concern mounts ahead of the likely introduction of a bill to ban retail traders from cryptocurrency activities in Hong Kong. Crypto industry actors in Hong Kong have been trying to push back against a forthcoming law that would restrict legal cryptocurrency trading to professional investors, locking out 93% of the local population from…
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Institutional adoption underscores urgency of clear crypto rules, says Hester Pierce

February 15, 2021

Regulatory clarity in the crypto industry is needed now more than ever, per one official. As institutions move into the cryptocurrency space, the need for clear rules regarding digital assets is critical, an official at the Securities and Exchange Commission said. SEC commissioner Hester Peirce believes that clear cryptocurrency rules are needed now more than…
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Miami council supports mayor’s move to offer city worker salaries in Bitcoin

February 12, 2021

The City Commission of Miami is now looking into the feasibility of allowing Miami residents to pay taxes and receive salaries in Bitcoin. Miami Mayor Francis Suarez has proposed an official resolution that would see Bitcoin (BTC) become an acceptable payment instrument in various parts of the city’s administration. Announcing the news on Twitter, the…
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US Treasury Secretary Yellen says crypto misuse is a growing problem

February 11, 2021

The private sector invests enormous resources to help the government combat crypto crimes, U.S. Treasury Secretary Janet Yellen said. United States Treasury Secretary Janet Yellen is concerned about crypto’s supposed criminal element.  In Feb. 10 remarks to a financial sector innovation roundtable, United States Treasury Secretary Janet Yellen stated that the misuse of cryptocurrencies and…
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China releases final anti-monopoly rules targeting major tech and payments firms

February 8, 2021

China’s market regulator finalizes rules that have been three months in the making. China has finalized new guidelines to aid in antitrust battle against tech giants.  On Feb. 7, the State Administration for Market Regulation released finalized rules for its anti-monopoly push against e-commerce and payments giants like Alibaba, Ant Group and Tencent. The guidance specifically…
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Hardware wallet for digital yuan debuts in Xiong’an New Area

February 8, 2021

China’s first hardware wallet for the digital yuan supports dual offline payments without an internet connection. A Chinese banking institution has completed the development of a hardware wallet for the country’s central bank digital currency, the digital yuan According to a Feb. 7 announcement by Xiong’an authorities, the Xiong’an branch of the Agricultural Bank of…
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Russia’s regulatory sandbox and the implementation of blockchain tech

February 6, 2021

The regulatory sandbox that came into effect in Russia last month is aimed at boosting innovative technology implementation. The main challenge companies face when testing and implementing innovative technologies is the need to amend existing legislation. Developing and testing new products based on distributed ledger technology requires special conditions that are often inconsistent with existing…
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