Category: Digital Currency

OSC Commissioner Debunks Arguments Against Bitcoin, Green-Lights Bitcoin Fund

OSC Commissioner Debunks Arguments Against Bitcoin, Green-Lights Bitcoin FundA commissioner of the Ontario Securities Commission (OSC) has debunked the arguments against bitcoin used to deny the public offering of The Bitcoin Fund. Among others, the commissioner rules that bitcoin is neither illiquid nor more susceptible to manipulation than other commodities, real volume and real trading in bitcoin exist, and it is not the […]

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23 Central Banks Divulge Their Digital Currency Requirements

23 Central Banks Divulge Their Digital Currency RequirementsTwenty-three leading central banks participated in an in-depth survey on their digital currency developments and requirements, including fungibility, convertibility, and availability. They also discussed the timeframe for issuing consumer-ready central bank digital currencies and divulged their greatest concerns about implementing them. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain The First […]

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Korean Presidential Committee Pushes to Legalize Crypto

Korean Presidential Committee Pushes Government to Legalize CryptoA South Korean presidential committee is pushing for the government to establish legal status for cryptocurrency to stay competitive globally. So far, the government’s policies have been risk-focused to curb speculation, which the committee says must change. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain Presidential Committee Pushes for Crypto Legalization […]

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Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq

Avalon Mining Rig Maker Canaan Files for $400M IPO on NasdaqMining rig manufacturer Canaan has filed for an IPO with the U.S. Securities and Exchange Commission to raise $400 million on the Nasdaq Global Market. Prior to this filing, the company had also attempted to go public in Hong Kong and China. Credit Suisse and Citigroup are among its underwriters. Also read: 4 New High-Powered […]

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China Ranks 35 Crypto Projects as President Xi Pushes Blockchain

China Ranks 35 Crypto Projects as President Xi Pushes BlockchainChina has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to evaluate and rank crypto projects, and the central bank is […]

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Indian Crypto Trading Volumes Accelerate on Positive Sentiments

Indian Crypto Trading Volumes Accelerate on Positive SentimentsCryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users. Also read: Mistakes Crypto Owners and Traders Should Avoid Strong Trading Volume Growth Banking services may be restricted […]

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Mistakes Crypto Owners and Traders Should Avoid

Mistakes Crypto Owners and Traders Should AvoidThere are many pitfalls one can easily get caught in when using, storing, investing or trading cryptocurrencies. While some mistakes could cost you a fortune, most of the common ones can easily be avoided. Bitcoin.com has produced a video featuring the top seven deadly mistakes crypto owners should avoid. Also read: ‘No-Deal Brexit Huge Positive […]

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McKinsey: Majority of Banks May Not Be Economically Viable

McKinsey: Majority of Banks Globally May Not Be Economically ViableManagement consulting firm McKinsey & Company has published a global banking review and found that a majority of banks worldwide may not be economically viable. More than half of them still do not generate their cost of equity 10 years after the crisis and may not survive an economic downturn. Also read: FATF Starts Checking […]

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State Bank of India Chief Argues Crypto Regulation Is a Must

State Bank of India Chief Argues Crypto Regulation Is a MustThe chairman of the State Bank of India (SBI) has spoken in favor of cryptocurrency regulation in an interview. He believes that it is necessary to regulate cryptocurrencies. Last week, the chairman attended IMF meetings in Washington, D.C., with Finance Minister Nirmala Sitharaman. Also read: India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives […]

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Bank Crisis Spreads in India – Deaths, Strike, Supreme Court Denial

Bank Crisis Spreads in India - Deaths, Strike, Supreme Court DenialThe Indian banking sector is facing multiple challenges. Customers of several cooperative banks are still struggling to withdraw their money, and deaths have been reported in connection with withdrawal restrictions. Meanwhile, some 300,000 state-run bank employees are on strike against what the bank unions call “cold-blooded murder of six banks.” Also read: Indian Finance Minister […]

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Cashaa Launches Banking Solution for Indian Crypto Owners

Cashaa Launches Banking Solution for Indian Crypto OwnersBanking services platform Cashaa is offering a solution for Indian crypto owners facing banking restrictions imposed by the country’s central bank, the Reserve Bank of India (RBI). The service allows users to deposit up to 1 crore rupees (~$141,012) per month to purchase cryptocurrencies. Also read: Indian Finance Minister Answers Crypto Questions at IMF Meeting […]

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FATF Starts Checking How Well Countries Implement Crypto Standards

FATF Starts Checking How Well Countries Implement Crypto StandardsThe Financial Action Task Force (FATF) has agreed on how it will assess whether countries have taken the necessary steps to implement the crypto-related requirements. “Given the global nature of the virtual asset industry, it is essential that countries implement these requirements swiftly,” the FATF emphasized. Also read: Where US Regulators Stand on Cryptocurrency FATF […]

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Indian Finance Minister Answers Crypto Questions at IMF Meeting

Indian Finance Minister Answers Crypto Questions at IMF ConferenceAt an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed Finance Minister Talks Crypto At the […]

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‘No-Deal Brexit Huge Positive for UK Cryptocurrency’ – How Brexit Could Affect the Industry

'No-Deal Brexit Huge Positive for UK Cryptocurrency' - How Brexit Could Affect the IndustryBritish lawmakers have voted to postpone a crucial Brexit vote and forced Prime Minister Boris Johnson to ask the EU for an extension. News.Bitcoin.com talked to the CEO of a local crypto exchange to find out the effects a no-deal Brexit could have on the crypto industry. Also read: SEC Wants Second Look at Bitwise […]

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Fed Research Considers Negative Interest Rates Effective Policy Tool

Fed Research Considers Negative Interest Rates Effective Policy ToolA research paper published by the Federal Reserve Bank of San Francisco shows how negative interest rates could become an important policy tool for fighting future economic downturns. The paper examines the market response to the introduction of negative interest rates by five major central banks. Also read: Where US Regulators Stand on Cryptocurrency Fed […]

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SEC Wants Second Look at Bitwise Bitcoin ETF Proposal

SEC Wants Second Look at Bitwise Bitcoin ETF ProposalThe U.S. Securities and Exchange Commission (SEC) is reviewing its order issued last week pertaining to a rejected proposal for a bitcoin exchange-traded fund (ETF). The proposal was filed by NYSE Arca for the Bitwise Bitcoin ETF Trust. Meanwhile, the SEC is also evaluating a proposed rule change for a different type of bitcoin ETF. […]

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Rare Joint Statement From U.S. Regulators Proves Crypto Centralization Is Here

Rare Joint Statement from U.S. Regulators Proves that Centralization of Crypto Is HereThe U.S. SEC, Fincen and CFTC issued a rare joint statement Friday addressing regulation of “activities involving digital assets.” Citing crypto’s perceived role in money laundering and terrorism, the regulatory power trio prescribed stricter adherence to anti-money laundering (AML) policies and know your customer (KYC) protocols. The statement is a highly visible product of the […]

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Where US Regulators Stand on Crypto Assets

Where US Regulators Stand on Crypto AssetsThe U.S. has many regulators responsible for overseeing different aspects of crypto assets, each with its own stance on how they should be regulated. Major regulators in the U.S. with strong opinions on cryptocurrency include the SEC, the CFTC, the Federal Reserve, Fincen, and the IRS. Also read: Tax Guide: What Crypto Owners Should Know […]

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G20 Informed Stablecoins Could Pose Financial Stability Risk

G20 Informed Stablecoins Could Pose Financial Stability RiskThe Financial Stability Board has informed the G20 finance ministers and central bank chiefs of the risks stablecoins could pose to financial stability. Unlike crypto assets which do not pose financial stability risk at this time, stablecoins could pose a host of challenges. Also read: Unicef Launches Cryptocurrency Fund Financial Stability Risk The Financial Stability […]

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Indian Supreme Court Postpones Crypto Case to November

Indian Supreme Court Postpones Crypto Case to NovemberThe Supreme Court of India on Tuesday once again postponed hearing the case against the crypto banking restrictions by the Reserve Bank of India (RBI). The central bank has replied to crypto exchanges’ representation as directed by the court, which was supposed to resume hearing the case today. Also read: RBI Ban Stops Indian Police […]

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Diversified Crypto Fund Receives FINRA Regulatory Approval

Diversified Crypto Fund Receives FINRA Regulatory ApprovalGrayscale Investments has received regulatory approval to publicly quote shares of its diversified crypto fund. The product, which is the firm’s only diversified offering, invests in five main cryptocurrencies. In addition, the firm offers nine single-asset investment funds, some of which are also quoted publicly. Also read: 7 Crypto Exchange-Traded Products Now Live on Swiss […]

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Tax Guide: What Crypto Owners Should Know

Tax Guide: What Crypto Owners Should KnowWith the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are not taxing crypto transactions. Furthermore, many tools exist […]

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IRS to Require 150 Million Tax Filers to Disclose Crypto Dealings

IRS to Require 150 Million Tax Filers to Disclose Crypto DealingsThe U.S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies during the year. Also read: […]

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Visa, Mastercard, Ebay, Stripe Join Paypal in Leaving Libra

Visa, Mastercard, Ebay, Stripe Join Paypal in Leaving LibraMost payment companies have now pulled out of Facebook’s Libra project. Visa, Mastercard, Ebay, and Stripe have followed Paypal in dropping out of the project amid regulatory concerns. The Libra Association has responded to the exodus of these companies. David Marcus, who is in charge of the project, calls it “liberating.” Also read: European Countries […]

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