Chinese news program said that there are 32,000 firms in China who claim to use blockchain, but fewer than 10% of them actually have the technology. Chinese news program Focus Report has said that there are around 32,000 companies in China that claim to use blockchain technology. Reportedly, the real number is not even 10%…
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The Comisión Nacional del Mercado de Valores has warned the public against Ethereum-based token dubbed AlyCoin. A Spanish financial watchdog has issued a warning against Ethereum (ETH)-based token dubbed AlyCoin. As Financial Magnates reported on Nov. 18, the Comisión Nacional del Mercado de Valores warned the public against AlyCoin as it the coin is registered…
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The U.K. Jurisdiction Taskforce of the Lawtech Delivery Panel published a statement concerning cryptocurrencies, DLT and smart contracts. The United Kingdom Jurisdiction Taskforce of the Lawtech Delivery Panel published a statement concerning the status of cryptocurrencies, distributed ledger technology (DLT) and smart contracts under English and Welsh private law. U.K. entrepreneur network Tech Nation announced…
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Ethereum and Bitcoin did not have to comply with regulation, admitted Ethereum co-founder Joseph Lubin, new projects should. Ethereum and Bitcoin (BTC) did not have to comply with regulation, admitted Ethereum co-founder Joseph Lubin in an interview with industry news outlet Forkast published on Nov. 18. During the interview — which took place at the…
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LocalBitcoins continues its path to full regulation with an official license from the Finnish Financial Services Authority. The Finnish Financial Services Authority (FIN-FSA) has officially registered LocalBitcoins as a virtual currency provider, starting at the beginning of November 2019. Finland only allows officially registered providers who fulfill the legal requirements to operate in the country.…
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A new report highlights the need for stablecoins to submit to regulatory requirements in order to “complement” the global economy. Stablecoins could “complement” other payment systems and improve conditions for consumers, but need constant checks, says the United States Federal Reserve. In its November 2019 Financial Stability Report released on Nov. 15, the Fed highlights…
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Europe has the potential to become a global leader in crypto-assets if it succeeds to create a common approach to regulating the sector, argues the AFME. Europe has the potential to become a global leader in crypto-assets if it succeeds to create a common approach to regulating the sector. So goes the argument in a…
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BaFin has issued a cease-and-desist order to Karatbit Foundation to immediately stop unauthorized e-money business in Germany based on the issuance of the KaratGoldCoin. The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany. BaFin alleges that Karatbit Foundation is issuing…
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New U.K. crypto tax policy paper: Crypto is an asset and subject to capital gain tax. Only a few weeks after the United States Internal Revenue Service published new guidance for crypto taxation, the United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs, has updated its cryptocurrency taxation policy paper for businesses…
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Australian Minister of Home Affairs Peter Dutton warned that terrorists are exploiting cryptocurrencies to “fund their deadly missions.” The Australian Minister of Home Affairs Peter Dutton warned that terrorists are exploiting cryptocurrencies to “fund their deadly missions.” During a counter-terror conference in Melbourne on Nov. 7, Dutton said that the anonymity of cryptocurrencies allow extremists…
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