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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 ...

Mnuchin Echoes Trump: Crypto Market Freezes
Legislation   |   16.07.19  |  

The Minister made a statement and called the use of cryptocurrency to finance illegal activities a matter of national security US Treasury Secretary Steven MNUCHIN said that he shares the President’s concern about the use of cryptocurrency to finance illegal activities and underscores the role of FinCEN regarding cryptocurrency organizations. The minister made a statement at a press conference on July 15 and called the use of cryptocurrency to finance illegal activities a matter of national security...

How Australia Is Changing Its Crypto Landscape With New ICO Guidelines
Australia   |   04.07.19  |  

... Australia has been mentioned in crypto news several times this month already, but thankfully, it was all for the right reasons. It seems like the country is gearing up for a crypto dominant future as it is starting to implement some healthy laws in terms of regulation and money laundering prevention. One may have heard Australia spearheading global crypto tax crime task forces, but it has also been implementing relevant judicial guidelines on its own territory as well. Why were the ICO guidelines implemented ...

EU To Pressure Malta Into Revamping Its AML Framework
Malta   |   01.07.19  |  

... lot of preparation to do in terms of anticipating large market players as well. OKEx and Binance, two of the largest crypto exchanges in the world have already decided to open offices on the Island, however, this was decided during a time where strict regulations were unheard of. Should Malta give up on its friendly approach to the blockchain, it’s likely that it will lose the newcomers, which would be a massive hit to the nation’s budget. Overall, the country is under constant pressure to cater ...

Malaysian Securities Commission Has Registered Three Crypto Exchanges
Exchanges   |   05.06.19  |  

... Southeast Asia General Manager David LOW stated: “We’ve been working closely with regulators and banks to complete the groundwork for the buying, selling and storing of cryptocurrencies and digital assets, which we believe are the future of money. Regulation will ultimately bring clarity and protection to consumers, and will ensure that all cryptocurrency businesses have adequate standards in place to protect investors and their funds.” Since January 2019, Malaysia has finally classified cryptocurrencies ...

Precedent: Israeli Supreme Court Rules in Favor of Cryptocurrency Exchange
Legislation   |   04.06.19  |  

... notes that the ruling is a precedent for Israeli crypto companies: in fact, it is an opportunity to use traditional banking services on legal grounds. It is worth noting that in March 2019, the Israeli Securities Authority issued recommendations for the regulation of cryptocurrencies. Image courtesy of Finance Magnates

Regtech And Suptech: Laws Are New Gold
Forecasts   |   17.05.19  |  

The application of IT in finance became possible due to fintech. Regtech and suptech are even more specialized IT areas in the area of monitoring of compliance with laws and regulations The growth of computing power of PCs, the widespread distribution of data networks, the increase in information volumes and the emergence of tools for working with it led to the emergence of information technologies (IT). The use of IT in ...

A Quick Guide For Bitcoin ATMs: How, Where, What’s Next
Guest-posts   |   14.05.19  |  

Bitcoin ATMs are some of the easiest ways to buy bitcoin. Their numbers and locations are growing as BTC starts to get accepted more around the world. Learn more about them Bitcoin ATMs are some of the easiest ways to buy bitcoin. Their numbers and locations are slowly growing as bitcoin starts to get accepted more around the world. If you don’t know what it is, it’s a kiosk that allows a person to purchase bitcoin by using cash or a debit card. There are two main kinds of bitcoin machines: bitcoin...


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