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Iran Wants To Introduce Crypto Mining Licenses
Legislation   |   20.09.19  |  

After quite a controversial two weeks for the Iranian government, it seems that regular political operations regarding crypto industry are resuming in the country After quite a controversial two weeks for the Iranian government, it seems that regular political operations regarding crypto industry are resuming in the country. According to the latest announcement a bill has been drafted in regards to the rampant crypto mining operations within the country. The government wants to somehow regulate...

European Central Bank Blames Uncertain Regulation in Stablecoins’ Vulnerability
Regulation   |   30.08.19  |  

According to the European Central Bank (ECB), stablecoins with a clear governance framework can be hindered by the uncertainty of regulation or its complete absence On August 29, the European Central Bank released a new document on stable tokens, where they are characterized as digital units of value that are not a form of any particular currency, but rather rely on a set of ...

Cloud Contracts: Is It Possible To Get Rich?
Bnt-reviews   |   27.08.19  |  

The article is about the features of cloud mining: popular companies’ advertising offers and the difficulties that their users may face A cloud bitcoin contract is another way to take part in mining for those who still have not joined the game. For those who could not make a fortune at a time when the extraction of new cryptocurrency blocks was an affair accessible to everyone. Advertising of cloud mining services describes them as an investment tool, as a source of stable and passive income. Does...

The Central Bank of Rwanda Explores the Possibility of Issuing Its Own Digital Currency
Innovations   |   23.08.19  |  

The National Bank of Rwanda (NBR) is studying reports conducted by central banks on the topic of digital currencies, considering the issue of conversion as a key one The National Bank of Rwanda (NBR) is exploring the possibility of issuing digital currency. It is studying the research conducted by central banks on digital currencies. In particular, such studies were carried out by the Royal Bank of Canada, De Nederlandsche Bank (DNB) and the Monetary Authority of Singapore, according to a report...

Importance of KYC/AML & Cryptocurrency Regulations in Crypto Exchanges
Guest-posts   |   06.08.19  |  

... completely get to know about the user base right from the source of income! On another side, the customers are also benefited by understanding the services of the company and knowing his/her rights. Even countries have their own laws governing with KYC, AML regulations. Thus, these features enhance feasibility from both the ends. What are KYC/AML & Cryptocurrency Regulations? As the demand for cryptocurrency exchanges are increasing every day, it has become a need for the exchange platforms to bring in strict ...

UK: Bitcoin and Ethereum Do Not Require Regulation
Legislation   |   01.08.19  |  

... currencies such as Bitcoin and Ethereum will not fall under its regulatory jurisdiction. However, it is worth noting that the regulatory body came to the conclusion that security-tokens and utility-tokens are still within its competence and may be subject to regulation, since the former are similar to securities, and the latter may fall under the classification of electronic money. The same approach applies to stablecoins, but FCA made it clear that not all of them fall under the definition of electronic ...

Crypto Companies to Register With BaFin Starting 2020
Legislation   |   26.07.19  |  

The reason for such a change of heart seems to be the implementation of EU-wide Anti Money Laundering laws which entails better KYC regulations According to an announcement from the Federal Financial Supervisory Authority of Germany ( BaFin ), cryptocurrency companies will have to register for a license with the regulator starting from the beginning of 2020. The reason for such ...

Circle Moves to Bermuda. Why?
Legislation   |   23.07.19  |  

... will be now in charge of these accounts: “Europe and Asia are both pretty significant markets for us in particular [and] the USDC stablecoin is particularly popular with institutional Asian investors.” Such move by Circle is due to the unstable regulation situation in the USA and it is quite possible that other crypto companies may follow their example. The hearing in the Senate and the US Congress regarding Facebook Libra last week could provoke the “escape” of crypto companies: Steve ...

India Is Just a Step Away From a Total Ban Of Cryptocurrency
Legislation   |   23.07.19  |  

The Indian Interdepartmental Committee (IMC) stated that the government should ban virtual currencies, and also presented the bill The Indian Interdepartmental Committee (IMC), created to study and develop legislation for bitcoin and other cryptocurrencies, stated that the government should ban virtual currencies. An excerpt from the report reads as follows: “As for private cryptocurrencies, given the risks associated with them and volatility in their prices, the Group has recommended the banning...

Crypto Crimes Cost $2.28 Bln In South Korea
Crime   |   22.07.19  |  

... the lack of clear rules for the exchange of cryptocurrencies has led to an increase in the use of quasi-anonymous or non-transparent accounts. With the prohibition of anonymity, the exchanges began to use the so-called “beehive accounts” to bypass regulation: they keep users' funds on their corporate bank accounts and keeping the identity of their users private. The government proposed to stop this practice, but the court suspended this initiative, deciding that it would be inappropriate for the ...

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