Russia is already on the path to regulating the crypto industry following orders by the country’s President, and could finally fit in the last piece of the puzzle in a spring session according to Olga Skorobogatova, the first deputy chairman of the Bank of Russia.
One month after the Supreme Court of India reportedly instructed the government to release regulations for the cryptocurrency industry, nothing has happened, and the industry has suffered yet another discrimination.
A delegation of 21 U.S lawmakers led by Rep. Tom Emmer has asked the country’s Internal Revenue Service (IRS) to provide further guidance about how cryptocurrency holders should report their taxes.
The Republic of Lithuania will continue its recent effort to control the activities of crypto-related businesses by rolling out new regulations in the coming months.
If there is one word that should often go hand in hand with the crypto industry, then it should be “innovation” as the years have shown.
Jared Rice, the founder of the AriseBank Coin, has pleaded guilty to one count of securities fraud before a Federal Court in Dallas, implying that he lied to investors to collect around $4.2 million worth of cash and cryptocurrencies in a fake ICO.
The recent clampdown on ICOs is not expected to end soon after the U.S SEC Chairman; Jay Clayton told CNBC reporters that the regulators’ definition of Initial Coin Offerings ICOs) remain the same and projects who fail to meet up to their requirements will still be considered “non-compliant.”
The Gibraltar Blockchain Exchange (GBX) a subsidiary of the Gibraltar Stock Exchange (GSX), has been licensed by the Gibraltar Financial Services Commission (GFSC) as a “DLT services provider.
A proposed Bitcoin Futures contract by a crypto startup, Bakkt, has been postponed once again according to a notice by the Intercontinental Exchange (ICE), where the offering is expected to be rolled out. Sadly, this is the third postponement since the futures contract was first announced.
To wrap up this week’s round of news reports, here is a quick review of the biggest headlines around cryptocurrencies, security tokens, and blockchain technology.
Anyone thinking that industrial blockchain technology adoption is still going to take a long time must be mistaken according to comments made by Herman Gref, CEO of Russian Bank, Sberbank.
Iran will rely on a new partnership signed with Russian blockchain experts in other to build a strong blockchain and crypto industry.
An ongoing lawsuit between Ripple Labs and investors who labeled XRP as a ‘security’ token, has been moved to a Federal Court according to reports by a financial news agency, Unbnked.
The Central Bank of Iran (CBI) has increased their efforts to release a state-backed digital currency in the wake of a ban from Global financial messaging service, SWIFT.
The International Monetary Fund (IMF) will continue to keep a close eye on the development of blockchain technology according to Deputy General Counsel, Ross Leckow.
Having become one of the first VFA Class 4 licensed crypto exchanges in ‘blockchain island’ Malta, Bitstraq is now eyeing the introduction of a security token trading platform for its clients.
Any plans to launch a stablecoin backed 1:1 by the native Russian currency, Ruble, is still only a ‘fantasy’ according to the state Chairman who raised the dust while speaking at a press conference last week. In a more recent update, he shared his thoughts on what could happen if the country decides to create a stablecoin.
The U.S Securities and Exchanges Commission has charged and heavily fined, Zachary Coburn, for setting up a digital trading platform that allows traders to buy and sell tokens that have been marked as 'securities’ by the regulators.
Israel will not be joining the list of countries to issue a Central Bank backed Digital Currency (CBDC), at least not for the meantime. A report released earlier this week by the Bank of Israel warned that a move in that direction should not be made after carefully studying the matter for nearly a year.
The U.S Securities and Exchange Commission (SEC) has never taken it easy with fraudsters who rip unsuspecting investors of their crypto assets and is not planning to slow down their effort anytime soon.
At a time when the crypto markets have begun to flourish again, a big win has been recorded by the new asset class in the off-market.
BBVA Spain, the second-largest bank in the country has successfully tried blockchain technology for a syndicated loan worth $150m according to a Financial Times report. It is the first time that a syndicated loan which usually involves a group of lenders and a borrower is conducted over a blockchain.
The U.S Securities and Exchanges Commission (SEC) has plans in place to solve a common problem faced by crypto startups looking to organise an ICO.
Swiss-based banks who are interested in trading cryptocurrencies have been provided with new guidelines by the Swiss Financial Market Supervisory Authority (FINMA).
South Korea based cryptocurrency exchange, Bithumb has signed a new deal with an American Fintech firm, SeriesOne. According to a local news source, the purpose of the new union is to establish an exchange that is dedicated to trading security tokens.
Can anyone stay away from crypto right now? Maybe, but not the researchers at Morgan Stanley who just released an update to a paper titled "Bitcoin Decrypted: A Brief Teach-In and Implications," which they published earlier this year.
The unceasing growth in crypto trading has given rise to many illegal activities like money laundering and high profile hacking of top crypto exchanges around the world. The Chairman of Financial Services Commission South Korea has, yesterday, clarified in a statement that with the support of banking sector the crypto exchanges will never face such issues. Here, it is pertinent to mention that South Korean banks used to open virtual currency accounts that were banned by the financial regulators back in January by introducing strict anti-money laundering rules for crypto exchanges and banks.