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Know-hows on Different Legislations and blockchain Implementation Profitability in Your Business

*Crypto technology boom is on its peak now and there are still numerous discussions whether it is profitable to use blockchain in your business, or not. Financial companies, retail and even government authorities are using new instruments in their work.* At the same time, there are different approaches to regulations of **blockchain companies** in the world. Some countries accept new ways and ...

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5 signs of booming blockchain innovation in Australia

... wallabies, the Sydney Opera House. But, Australia, despite its modest population of 23 million, is more than just a faraway tourist destination. The home of kangaroos, koalas, AC/DC, and vegemite is well on its way to becoming a world leader in the blockchain space. Here are at least five signs of blockchain innovation in Australia right now. ***1. Australia Is a World Innovation Center*** ...

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Germany Introduces Draft Bill on blockchain-Based Digital Securities

Last week Germany’s Federal Ministry of Finance (BMF), together with the Federal Ministry of Justice and Consumer Protection (BMJV), introduced a draft bill on blockchain-based digital securities. The German Finance Ministry published a statement wherein the institution will be working on a draft law with the primary goal of creating a legal framework for digital securities, including the issua...

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The New York Times confirmed its readiness to implement blockchain technology to combate fake news around the world

...here were many attempts to help readers recognize when a source shouldn’t be trusted. One of the latest projects in this field comes from the New York Times. The New York Times (the NYT) Company has recently revealed information relating to its blockchain technology project specifically developed to fight against fake news. The NYT by means of IBM Garage, the accelerator program of the te...

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blockchain technology to be used for cross-border forex transfer in China

China’s foreign exchange reserve regulator, the State Administration of Foreign Exchange (SAFE), jointly with the Hangzhou blockchain Research Institute, has developed a blockchain platform for cross-border financial trades. At present, a highly complex industry such as China's import and export financing system relies on manual, paper-based operation for processing. In order to resolve this...

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Luxembourg has just passed the law providing a legal framework for blockchain securities

Luxembourg is among the most forward-thinking countries from the point of blockchain legislation implementation. At the moment, the country has taken a significant step forward in providing transparency and legal definiteness concerning the distribution of securities by means of blockchain technology. As was stated in a notice, published Thursday last week, the country’s Chamber of Deputies ...

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South Korea is planning to amend current tax legislation in order to boost blockchain startups

**The government of South Korea announced its plans to amend current tax rules in the part that concerns innovative companies – including, but not limited to, blockchain and crypto startups.** During a meeting of ministers from government agencies, a decision was made to expand tax benefits for companies that focus their research and development (R&D) on modern technologies. This move was ma...

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Two of Malta's blockchain acts came into force

As Malta aspires to become the center of blockchain, crypto, and ICOs, the ‘blockchain Island’ was the first territory to commence regulation of the blockchain and crypto areas by adopting two bills, namely: '**The Innovative Technology Arrangements**' and '**The Services and the Virtual Financial Assets Act**'. As it was expected, both of the above-mentioned acts (the Acts) came into force ...

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Tierion: utilizing the bitcoin blockchain to verify documents

**What Is Tierion?** The Tierion project utilizes **Bitcoin’s blockchain to verify documents.** The platform accomplishes this task through a process known as anchoring. Anchoring links documents to exact blocks in Bitcoin’s blockchain. The anchored documents are then verifiable at any time without the need of a trusted third-party. Let’s take a moment to examine this unique platform an...

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How blockchain will combat bias in news reporting

...media. These forces are not just at work online, and they affect even the most reputable outlets and publications. The advertising dollar funds most of the news media. Consequently, it has a scary level of influence over the news we see. Thankfully, blockchain solutions are emerging that will address this imbalance, by decentralizing the news itself. **The Problem – Advertising Pays for the ...

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A blockchain Education Network: the new era of scholastics

**blockchain technology continues to see expansion into every business sector, including the education system.** The added efficiency and security of implementing of a blockchain protocol is undeniable. The paper-based system that dominates most of the educational networks of the world is grossly outdated, and there is no real global consensus on the overall status of education. These systems...

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Dubai International Financial Center is planning to launch the world's first blockchain court

**The Dubai International Financial Centre (DIFC) has partnered with Smart Dubai to establish the world’s first “Court of the blockchain”.** The abovementioned organizations recently announced that they are conducting researches regarding the blockchain technology and how it can be implemented, and used to enforce court rulings and separately on the resolution and mitigation of disputes rel...

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World Bank launches first global blockchain bond-i and raises AU$110 million

**The World Bank created bond-i** (blockchain operated new debt instrument), the world’s first bond to be created, assigned, transferred and administered through its life cycle using distributed ledger technology (blockchain). The bond raised AU$110 million, marking the first time that investors have supported the World Bank’s development activities in a transaction that is fully managed ...

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Australia is planning to implement blockchain technology in order to automate transaction reporting

**The Australian Transaction Reports and Analysis Centre (AUSTRAC) currently is testing a blockchain prototype with a goal of funds transfer automation.** ZDNet reported this Sunday that the AUSTRAC has partnered with the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and rela...

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German Political Parties raise discussion on implementing Regulation for Crypto blockchain Industry

The SPD, the Alliance 90/The Greens, and the FPD suggested a draft of crypto and blockchain regulatory framework. The most influential political parties in Germany made a proposal of issuing a regulatory framework for cryptocurrencies and the blockchain industry. The Social Democratic Party (SPD) published a statement on their website, which suggests strict overseeing of crypto assets by the Eu...

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Spanish internal collaboration on blockchain project

...Recently it was announced that **Spanish National Security Market Commission (CNMV)** and several financial institutions, including BNP Paribas, Commerzbank, Banco Santander, Caixa Bank, during the entire previous year have been collaborating on a **blockchain project called Fast Track Listing (FLT)**, which is based on distributed ledger technology. The main purpose of the collaboration is to ...

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Novelties for the blockchain Business and ICOs in Gibraltar

...l regulator of this country, Gibraltar Financial Services Commission, announced new obligation for the companies using distributed ledger technology for storing or transferring values that belong to others. Currently, **DLT** is widely known as blockchain and businessmen with an innovative vision started establishing the firms that use this technology. From now on, **blockchain services** nee...

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Did Cayman become a top choice for blockchain business?

... years confirmed that the **Cayman Islands is one of the top jurisdictions for innovative fintech business**. Why is that so? In February 2018, Cayman Premier, Alden McLaughlin, confirmed that statistically, Cayman is now in top-three countries for blockchain entrepreneurs. Since 2012, the special tax-free economic zone, Cayman Enterprise City, functions in Cayman by attracting start-ups that use...

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blockchain regulations are on the way to Malta

Many countries that support **international business** had started to implement **blockchain regulations** during the last months. **Malta** is next in the line according to the plans announced at the **Dubai blockchain Conference**. Which industries will the new regulations cover? Not only blockchain but also **AI** (artificial intelligence) and **IoT** (internet of things). Technologies are...

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Coinbase was approved by SEC to list security tokens

...n (SEC) and the Financial Industry Regulatory Authority (FINRA) have officially authorized Coinbase to move forward with the purchase of Keystone Capital after over a month of anticipation. With the SEC supervision **Coinbase will be able to list blockchain-based securities**, a term which will likely include all initial coin offerings. **Coinbase Inc. is planning to establish one of the mos...

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Albania is preparing a legal framework for virtual assets

...ssets carried high levels of risk. **Currently in Albania are no law providing for the regulation, prohibition or penalty in connection with virtual assets and related services.** But to change that Albania is seeking to become the next European blockchain hub with a new set of laws that legalize the use of digital currencies. On May 21st, the Albanian parliament signed a new bill into law to ...

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The Central Bank of the Bahamas expressed digital currency plans

...hamas disclosed the plans to issue their own electronic money and establish digital currency as a legal tender.** According to the Central Bank, introducing the cryptocurrency will be a valuable input for handling economic issues. It will be the blockchain-based digital fiat currency dubbed “Sand Dollar” developed to boost the stability and resilience of the country’s economy. “Sand Do...

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In 2020 Starbucks will allow you to buy coffee using Bitcoin

...y have every chance to realize the project. Admitting that integrating Bitcoin in the daily activities sounds cool, there might be some downsides though. Experts argue that traditional payment platforms execute payments faster than those based on blockchain. Additionally, volatility of Bitcoin may bring losses to retailers and consumers. Nonetheless, the upcoming project will allow people to sp...

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China to become the first country to issue state-owned cryptocurrency

...try to issue domestic cryptocurrency.** The government plans to provide the digitized currency to commercial banks and other institutions, then those will transmit to the public. The President of China Xi Jinping has expressed his support for the blockchain technology and development of the first state-owned cryptocurrency. He revealed that the government is ready to invest in the advancement o...

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The UK provides legal certainty for crypto assets and smart contracts

...without an intermediary. The revolutionary concept wins the market – it is envisaged that the smart contract market could reach $300 million by 2023. Moreover, the World Economic Forum forecasts that one-tenth of the global GDP will be stored on a blockchain by 2027. The step towards regulatory clarity of crypto assets and smart contracts shows the adaptability of the common law system to fa...

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The evolution of Forex in the 21st century

... financial capitals also altering the character of FX market. The effects of such policy changes as Bing Bang are always dramatic, so having an understanding of the policies is a great way to prepare for changes that may occur in the future. blockchain and Crypto Cryptocurrencies and blockchain technology certainly are taking many industries further. Forex industry is not an exception. ...

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British Virgin Islands announces a dollar-backed digital coin

...e local Financial Technology sector includes the development of the sovereign digital currency. The British Virgin Islands have been using the United States Dollar as the national currency since 1959. Today, the government is cooperating with a blockchain startup LifeLabs to implement a central digital currency that will be backed by the US dollar in a 1:1 ratio for use within the territory o...

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The UN warns on North Korean Crypto Conference

As has been previously reported, North Korea will host its second blockchain conference that will take place in February. The event is being arranged by Alejandro Cao de Benos, a president of the Korean Friendship and Chris Emms, a business developer at Bitcoin.com. This January, the United Nations warned people not to attend the upcoming North Korean Crypto Conference and openly stated that a...

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Cambodia will launch a central bank digital currency

**“Project Bakong” first trialed last summer is a specially designed digital currency that will serve as the national payment gateway for Cambodia.** Based on the blockchain technology, a peer-to-peer platform with its own digital currency will be launched in the coming months. Bakong central digital currency was designed by the Japanese blockchain company. The company Soramitsu has devel...

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Pandemic effect on Cryptocurrency markets

... their digital method of value transfer, do not necessitate the handling of fiat cash — paper government debt notes that often carry germs from one person to the next.** It is absolutely clear that the digital nature of the industry means that the blockchain space is not an inherent breeding ground for viruses. Moreover, many projects within the industry function remotely or with remote poten...

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Outbreak of Crypto Frauds Amid Coronavirus Outbreak

...make decisions quickly. The world’s most popular video-hosting website is apparently having trouble discovering a major scam account involving crypto. A fake YouTube account with 277,000 subscribers was revealed after impersonating CEO of major blockchain company Ripple, in order to promote a fake airdrop scam. The video description promotes a nonexistent airdrop of 50 million XRP tokens and ...

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Japanese Officials Introduce New Amendments in Japan’s Crypto Laws

...them “crypto assets” instead of “virtual currencies” or “cryptocurrencies”. Another important amendment added to the regulations is the legal definitions of initial coin offerings (ICOs) and security token offerings (STOs). For years, blockchain firms struggled to get regulators to clarify the exact differences in terms of regulations. Now, regulators have a clear understanding of w...

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South Africa’s Introduction to Crypto Regulation

...een little in the way of crypto regulation. South Africa’s regulators argue that the growth of the digital economy depends on the establishment of a clear-cut crypto regulatory infrastructure that promotes innovation. Regulators fear that major blockchain firms operating outside the scope of their legislative control in the future. Considering that, last week South Africa’s Intergovernme...

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Possible Effects of Bitcoin Halving

...into the economy. A large portion of the increase came in the days preceding and following the Bitcoin halving last week. In the middle of the May the rewards that Bitcoin miners receive in exchange for the work they do to add transactions to the blockchain was cut in half. However, it was reported that from April 11th to May 14th, the average cost of Bitcoin network transaction fees increased ...

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Covid-19 Effect on Growing Number of Crypto Related Scams

According to a report from blockchain forensics company CipherTrace losses from cryptocurrency crimes netted 1.4 billion USD in the first five months of 2020. This could be the second-highest value in losses linked to cryptocurrency crimes compering to 2019 when crypto crimes proceeds surged to 4.52 billion USD, up 160 percent from 2018’s total of 1.74 billion USD. As a result, 2019 and 2020 ar...

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Russia adopting three-tier cryptocurrency regulation

...ty issue and suppose that proposed crypto laws would reveal cryptocurrency owners’ identities. At this point, Russia is about to introduce one of the most comprehensive cryptocurrency regulations in the world. Together with the evolution of the blockchain and cryptocurrency sphere, the country continues to develop new crypto-related regulations and it is very likely that soon we will see a se...

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Potential PayPal Entry into Cryptocurrency Market

...urrency market in past, but this would be the first time company directly take a part in industry. PayPal has been working with crypto since 2014 when they started accepting Bitcoin, and over the years, company have gained experience with crypto and blockchain technology. Furthermore, PayPal is hiring crypto and blockchain experts and it has been said that the global payment platform will enable d...

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First central bank issued digital coin in the euro zone

...later, in July of 2020 Lithuania is about to issue the first central bank-produced digital coin in the euro zone. This week the Baltic country will issue the digital coin- LBCOIN, as part of a project to trial central bank digital currencies and blockchain technology in everyday use. Currently it is planned to issue a twenty-four thousand digital tokens, which will go on sale next week, based ...

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Legalization of Cryptocurrencies in Russia

...t of electronic data which can be used for payments purpose or even as an investment tool. It has been determined by local lawmaker that digital currencies do not have any centrally responsible party and are managed by the operators and nodes of the blockchain network. Also, new legal framework clarifies that digital currencies are recognized as a type of property and they cannot be used as a mode...

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Government of India working on law to ban crypto trading

...cketed. Many oversee crypto companies are also entering the Indian market lately. Notably, there is no supportive voice from the Indian lawmakers towards Bitcoin or other digital currencies. However, many were hailed for their contribution to the blockchain technology. Millions of dollars worth of business in cryptocurrency is being done every week, with the lockdown pushing up the volumes. ...

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Decentralized Internet – affordable resources and privacy on the web

...rface and provides browsers and links so people can navigate to websites. You may be thinking that a decentralized internet could bring a better user interface then. But anyone experiencing the user interface of typical cryptocurrency wallets and blockchain sites might well be skeptical. The web implemented a number of design choices reasonable people might well argue against. But centraliza...

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First Digital Securities Exchange Approved by Financial Conduct Authority

...d trading venue on which to engage with the digital securities space. Non-Executive Director at Archax said: “In the current global economic climate, providing new, efficient ways for small and medium sized businesses to access capital is key. blockchain and tokenisation are innovations that can empower more frictionless and transparent markets which, combined with an FCA regulated exchange ...

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Local Swiss Authority Planning to Accept Taxes in Cryptocurrency

...cated in central Switzerland, and Zug is often referred to as Crypto Valley. The canton of Zug has become the home of several crypto companies and fintech startups. The location is one of the top spots for such kind of businesses dealing with global blockchain and digital currency because if its tax-friendly system, favorable political, economic, and technological environment, and accessibility to...

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Tanzania takes steps to cryptocurrency implementation

...unday, 13.06.2021, Tanzanian president, Saami Suluhu Hassan, gave a speech, in which she urged the central bank to start preparations for cryptocurrency implementation. She stated, that it is impossible to ignore the fact, that cryptocurrency and blockchain technology as a whole is on a rise and in terms of keeping up with the modern world, Tanzania has to pave the way for development of abovem...

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Japan and South Africa are to set new crypto regulations

...lass, South African cryptocurrency service providers have been operating without any control from the regulatory powers. Last year, the collapse of Johannesburg-based Mirror Trading International was called the biggest crypto-related scam of 2020 by blockchain data platform Chainalysis. “We are of the view that cryptocurrencies are risky and we want to ensure that the financial sector is awar...

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Lawyers’ Lobbying Efforts result in lifting Crypto-Ban in Vanuatu

...e edge,” - Genia continues. “This amendment placed Vanuatu in the major league, with other, more established, jurisdictions that Tal Ron, Drihem & Co. have already been using since 2017 to represent clients in issuing coins and engage with other blockchain crypto activities, such as Gibraltar, Switzerland, Singapore, Malta, and Estonia. The amendment seeks to expand the possibilities for alrea...

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South Korea is planning to establish Crypto-Focused Bureau

...Yuguda, the bureau wants to come up with proper ruling to protect customers’ interests in the best possible way. “We are looking at this market closely to see how we can bring out regulations that will help investors protect their investment in blockchain,” Yuguda told Reuters. However, he did not provide a deadline for domestic crypto-market regulation deployment. Also, SEC’s Director st...

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Dubai is set to regulate investment tokens

...ributing to the ongoing growth of future-focused financial services in the DIFC.” Simon Hudson, founder and CEO of Cheeze Inc., told Arabian Business media outlet the following: "Regulating tokens in my opinion is a step in the right direction. blockchain technology is still very early but its huge adoption and daily trade volume shows that it is here to stay. By adding an underlying regulati...

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India is up to Classifying Crypto-Exchanges as e-Commerce Platforms

...es might classify crypto-exchanges into three categories: Those acting as facilitators, brokerages that allow buying and selling, and trading platforms, providing users with trading interface. Another initiative discussed is to classify the use of blockchain technologies as an export, thus may bring down the tax on crypto startups. There has been daily growing urgent need of crypto-industry re...

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Local cryptocurrency could soon be used in Japanese regions

...se-Shima area and settle at facilities such as Shima Village or Shima Kanko Hotel in Shima City. Two entities conducting an experiment have been working on joint crypto projects for two years. In 2017, they were testing a payment system based on blockchain technology. In 2018, the companies were trying out the QR code technology and person-to-person transfers. This year, Mitsubishi Research In...

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Crypto aspirations: North Korea is holding cryptocurrency conferences

North Korea continues to impress the international community by showing how enthusiastic it is about the ample opportunity deriving from the cryptocurrency. The country announced that it will be holding the second blockchain and cryptocurrency conference in February 2020 and which is expected to be far larger than the previous one. Following the previous successful crypto event back in April 2...

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Hedge fund billionaire joined crypto market

...ing crypto branch projects**. **During this year cryptocurrency-focused hedge funds have rapidly grown in numbers**, as entrepreneurs are trying their best to satisfy the increasing demand from traditional investors. Simpson suggested that among blockchain's many use cases, two were not in doubt: *"It's still up in the air if people want to do a number of thing on the blockchain. We're stil...

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China's Central Bank is planning to ban crypto airdrops

...7, while only five were launched before 2017. This sudden jump also attracted over 105,000 investors who contributed a total funding of around $377.3 million, accounting for more than 20 percent of the whole sum raised globally in the same period by blockchain startups. The central bank stated that it needs to remain highly vigilant and to coordinate with other organizations to supervise the cr...

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Cyprus Securities and Exchange Commission is planning to establish an Innovative Hub

... promoting closer ties with these fledgling but fast-growing industries, we aim to best protect investors by fully understanding the risks and benefits these new products bring.”* CySEC seems to be particularly interested in distributed ledger (blockchain) technology. Since this type of innovative technology of the financial industry not only has a lot of benefits, but also brings forth a gre...

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List of ICOs to watch in June

At present, the main concern among cryptocurrency enthusiasts is a sharp drop in the exchange rate. But this does not affect **the popularity of the blockchain technology**. Recently, the **number of new blockchain projects, varying from gaming to artificial intelligence, rapidly increased**. Here are some projects that successfully launched during the previous month and are worth to be revie...

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Polymath CEO Trevor Koverko on smart investing, secret societies, and security tokens

...s requesting to take selfies with crypto’s man of the moment. So, what is it that’s got everyone talking about Trevor Koverko? Quite a few things actually. CoinCental’s Christina Comben squeezed a few minutes of Trevor’s time at the World blockchain Forum in London, and here’s what we found out. **He Makes Smart Investment Choices** Active in crypto since the early days and buyi...

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The government of Zimbabwe is willing to treat bitcoin same way Switzerland does

...cy businesses in a way similar to India and Iran. Zimbabwe is still facing cash difficulties following political commotion for many years of economic chaos. Mr. Ncube stated that the advantages that bitcoin and other related technologies such as blockchain can grant have been underestimated. In view of this the minister urged other countries to pay attention to modern technologies in crypto in...

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Mauritius is willing to adapt distributed ledger technology and acknowledge the cryptocurrency as digital asset

... with an innovative approach. The Republic has admitted that the current digital revolution grants opportunities for smaller economies (for instance Mauritius) to open new and innovative growth perspectives. For this reason, **Mauritius is embracing blockchain technologies and acknowledges cryptocurrencies as digital assets to become the Financial Technology (FinTech) Hub for Africa.** Prime mi...

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Lolli: how legit is the customer loyalty program that rewards users in bitcoin

...ors Alex Adelman and Matt Senter decided that that wasn’t going to be the end of the road for them, however. Only this time, they would need to build a business with the latest tech in mind. And that, as you may suspect, falls firmly in the lap of blockchain. **Where Did the Name Come From?** Alex explains that as a young boy his dad would often take him and his sister to the bank. He alwa...

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Leading Russian banks intend to work with crypto

During a meeting, held at the Moscow Exchange, **numerous Russian banking organizations expressed their readiness to collaborate with the industry of cryptocurrency and blockchain**, stated Russian news site RBC on September 19. According to an unnamed source, cryptocurrency has a huge potential in Russian region and the demand over the past year has grown significantly, but the banks are unab...

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Cryptocurrency: what are your options?

...s that surround cryptocurrencies and protect the public from scams and fraudulent activities. Investors themselves must also take necessary precautions before investing in cryptocurrency. For starters, investors should research the concept of the blockchain, which serves as the facilitator for the financial transactions involving cryptocurrency. Transactions could revolve around financial contr...

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Singapore clarified new requirements for digital advisors

...vance notice period that will be provided prior to carrying out any rebalancing activities; and * advise the client prior to all rebalancing transaction. Stay tuned with **Offshorelicense** to be informed of all legal news in relation to blockchain, LegalTech and other digital industries.

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Governmental digitalization in Malta

Recently the **Parliament of Malta considered three bills on distributed ledger technology**. Simply put, distributed ledger technology (DLT) is widely known as **blockchain technology**. Analyzing the provisions of the aforementioned documents, we can certainly say that the public authorities of Malta have a positive attitude towards the blockchain technology. **Malta government authoritie...

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What is coin selection and why does it matter?

...e proof of work algorithm simple. It also permits parallel processing across multiple accounts, which enhances scalability. Finally, it allows for Simple Payment Verifications (SPV), lightweight clients that can verify a payment’s inclusion in the blockchain without downloading the full database. However, UTXO has some drawbacks. Most notably, it doesn’t work for smart contract platforms gi...

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Malta as the new crypto bay

...ustry that will probably become the next big thing following the Internet, as well as will affect almost everything of our everyday life. Recently, the Maltese authorities ratified three bills that created a regulatory base for cryptocurrency and blockchain industry. The three above-mentioned bills are: the **‘Malta Digital Innovation Authority Act’**, the **‘Innovative Technological Arra...

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ICO vs IPO. Main differences

...fact that the names ICO and IPO sound very alike and many people think that their purposes are very similar, there are many differences between them. **The Initial Coin Offering (ICO) is a new fundraising method or a means of crowdfunding for new blockchain companies, which includes creating and selling tokens for the purpose of raising capital and launching the project.** **The Initial Publ...

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New hype or a real irreplaceable instrument. Contracts of digital age.

Currently **computer algorithms that work on blockchain are crushing and reforming classic financial systems**. However, recently there is a lot more hype surrounding the so called smart contracts. But following this trend, there were a lot of surveys stating that smart contracts are rather vulnerable and unstable instruments. In order to understand the essential thing about smart contracts we sh...

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FINMA provides guidelines on "stablecoin"

...ket Supervisory Authority (FINMA) has provided the guidelines bringing to light how ‘stablecoins’ are being handled under the relevant Swiss regulation. The Swiss Authority’s handling of ‘stablecoins’ is based on the current approach to blockchain tokens. FINMA’s treatment of this cryptocurrency under supervisory law mainly comprises focusing on the purpose and economic role of the ...

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Virtual currency draft bill in Gibraltar

**Distributed ledger technology** (DLT), widely known as the **blockchain**, is a stumbling block for many jurisdictions. It is hard to ignore it now due to the fact that dozens of businesses in their activities use virtual technologies and, as a result, virtual currencies. **Gibraltar** is the jurisdiction that, along with the others, starts adding DLT to its scope of regulation. The Gibralt...

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Top 5 crypto-friendly jurisdictions

Dear readers, today we would like to draw your attention to the **most crypto-friendly zones around the world**. **SINGAPORE** Singapore, an island city-state that is opened to both cryptocurrencies and blockchain. The government and the central bank of the country are chasing a clear blockchain plan with the objective to connect central banks worldwide through DLT (distributed ledger techn...

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New crypto regulation from Switzerland

**FINMA (Switzerland’s Financial Market Supervisory Authority) has recently announced a new fintech license**, with moderate conditions, that is appropriate to blockchain and cryptocurrency-based companies. On 3rd December, 2018 the regulator stated that the new regulation will grant recognized “innovative financial companies” the ability to accept public deposits of up to 100 million Sw...

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Ethereum has attracted considerable interest of the CFTC

... about one of the most popular cryptocurrencies – Ethereum (ETH). Let's try to figure out what caused such an interest from the regulator's side. **Ethereum is the second most discussed cryptocurrency right now.** Ethereum proposes to provide a blockchain with an integral, fully fledged programming language that can be employed to create “smart contracts” that might be used to encode arbi...

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Switzerland puts a hand over supervising ICOs

...s. This implies that the requirements for them are stricter than for payment tokens. However, the authority still controls all three types. The European financial regulators community still does not have a unified position about cryptocurrencies, blockchain and ICO. For the time being, Switzerland is a pioneer in this case and these regulations might become a runway for the EU and the UK. **Pot...

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Is Accepting Bitcoin a Reasonable Choice for Banks?

...are ready to create their own currencies to meet the demands of evolving innovations. Not only the Citigroup speaks positively about the Bitcoin, but also other major banks in countries like China, Russia, Japan and others. They already suppose that blockchain technology and cryptocurrencies can solve many problems with trans-border transactions, fund operations and even client services. Most W...

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Bermuda warns: virtual currency shall not pass

Each jurisdiction makes and individual decisions on the matters of **cryptocurrency business**. We have already informed you about the countries whose reception of blockchain is mostly positive and the new legal initiatives are giving business space to work. However, it is not about **Bermuda**. Currently, this territory is not against cryptocurrencies, but the Bermuda Monetary Authority has ...

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Bahamas Securities Commission pushes for new legislation for token sales

**The Security Commission of the Bahamas is radically pushing for a new framework for token projects.** **The aforesaid project’s purpose - to turn this popular tourist destination into a blockchain startup hub.** The Regulator has recently provided a draft of the new bill that will provide regulations of token offerings that are not considered as securities. The new bill describes details...

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Marshall Islands Announces Fund Development For Its Local Cryptocurrency

... will be absolutely autonomous, with a board of seven directors. Two directors will be named by the government of the Marshall Islands, and two will be appointed by SFB Technologies, the company engaged by the government to create SOV’s sufficient blockchain infrastructure. The aforesaid four directors will then appoint three further directors to the board. Majority votes will be required fo...

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FINRA grants extended deadlines for companies to report their crypto activities

...ies; • creation, management or participation of a crypto exchange, fund or derivatives product; • participation in an ICO or Pre-ICO; • facilitating the clearing or distribution of cryptocurrencies; and • recording cryptocurrencies using blockchain or distributed ledger technology. FINRA also recommended that member firms report ‘any other use of blockchain technology,’ with the...

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Binance exchange is planning to create crypto futures trading platform

...e world’s largest cryptocurrency exchange by trading volume, has recently revealed its plans to launch a futures trading platform which will offer both long and short positions for digital assets.** The aforesaid news was announced at the Asia blockchain Summit in Taipei. During a presentation at the conference, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased that the...

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Legal bitcoin to be!

The recent research, conducted jointly by blockchain analytics company Elliptic, researchers from Massachusetts Institute of Technology (MIT) and tech giant IBM, showed an overwhelming bitcoin transaction clearness. The aforesaid partnership was organized in order to use deep learning developments and analyze bitcoin transactions in the context of measures to detect illicit activities, such a...

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Bitcoin and cryptocurrency litigation

...s that surround cryptocurrencies and protect the public from scams and fraudulent activities. Investors themselves must also take necessary precautions before investing in cryptocurrency. For starters, investors should research the concept of the blockchain, which serves as the facilitator for the financial transactions involving cryptocurrency. Transactions could revolve around financial contr...

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Why cryptocurrency is the future of electronic cash systems

...l. This has given new opportunities for consumers and businesses around the world to become more connected. A lot has changed since Satoshi Nakamoto’s original white paper in November 2008. We’ve seen major advancements in the capabilities of blockchain technology to empower a better future of P2P payments via cryptocurrencies (despite the Bitcoin dip). When considering the current lands...

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