Category: Economy & Regulation

Traditional Law and Finance Can Adapt to Bitcoin, These Examples Show

Traditional Law and Finance Can Adapt to Bitcoin, These Examples ShowBitcoin brought about solutions to persistent problems that stood in the way of previous attempts to invent digital money, such as the risk of double spending. Some of its features, however, like the characteristic irreversibility of blockchain transactions, have created certain challenges for the traditional legal and financial systems. At times they may seem incompatible […]

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IMF Has Another Trick Up Its Sleeve When Fiat Fails – Its Own Coin SDR

IMF Has Another Trick Up Its Sleeve When Fiat Fails - Its Own Coin SDRVirtually everybody knows what a dollar is, but not as many know about the SDR. The International Monetary Fund’s (IMF) Special Drawing Rights is an international, monetary reserve system created specifically to address limitations of gold and standard fiat currencies such as the USD. In short, should these fail, central banks and their governments retain […]

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More Nations Join the Club of Crypto-Friendly Jurisdictions

More Nations Join the Club of Crypto-Friendly JurisdictionsRegulatory barriers are a major concern for businesses working with decentralized assets. Not all governments, however, are putting obstacles in front of crypto companies. In fact the number taking a crypto-friendly stance is in fact increasing. Also read: Ukraine in a Rush to Legalize Cryptocurrencies Under Zelensky Executives View Regulations as the Biggest Threat Government […]

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Ukraine in a Rush to Legalize Cryptocurrencies Under Zelensky

Ukraine in a Rush to Legalize Cryptocurrencies Under ZelenskyThe new administration in Kiev, headed by the young president Volodymyr Zelensky, has brought renewed interest in cryptocurrencies. Fresh energy is now being injected into efforts to legalize decentralized digital money and regulate related economic activities. New draft laws have been proposed or are under preparation to accommodate the nascent industry, from which the Ukrainian […]

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Here’s How Belarus Pressures Russia to Legalize Cryptocurrencies

Here’s How Belarus Pressures Russia to Legalize CryptocurrenciesRelations between Belarus and Russia have always been quite complicated. The union the two close allies created has faced all kinds of challenges over its 20 plus years of existence. Now cryptocurrency is becoming a new apple of discord, as Minsk has taken a relatively friendly approach to regulating decentralized assets, while some in Moscow […]

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Liechtenstein Adopts Token Act to Attract Crypto Business

Liechtenstein Adopts Token Act to Attract Crypto BusinessOne of Europe’s smallest but richest nations, Liechtenstein, has made a significant step towards clarifying the regulatory environment in its already crypto-friendly jurisdiction. The parliament of the German-speaking principality in the heart of Europe has just passed a law that is likely to entice even more crypto companies to its territory. Also read: Turkish Government […]

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Russia Regulates Digital Rights, Advances Other Crypto-Related Bills

Russia Regulates Digital Rights, Advances Other Crypto-Related BillsAfter much deliberation in the past months and years, Moscow has recently taken important steps toward regulating the crypto space. These are part of the efforts to open the way for the development of the Russian digital economy. The country, heavily dependent on energy exports and hurt by Western sanctions, needs alternative sources of revenue […]

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Trump Pressures Fed for More Rate Cuts as Mega Banks Drain the Balance Sheet

Trump Pressures Fed for More Rate Cuts as Mega-Banks Drain the Balance SheetU.S. President Donald Trump is pressuring the central bank to cut interest rates even further as a spike in oil prices has offset the Federal Reserve’s ‘normalization’ tactics like rate-cutting and overnight repos. Additionally, the mega bank JP Morgan Chase (JPM) is being blamed for the lack of liquidity in the repo market’s cash reserves, […]

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Why the Birth of Bitcoin Can Be Traced Back to 1971

Why the Birth of Bitcoin Can Be Traced Back to 1971The world economy is a complex system that has undergone many different phases in the past century. As strange as it may sound today, there have been times when banking crises were rare, pay was rising alongside productivity, and the U.S. dollar would buy a certain amount of pure gold. Despite its obvious successes in […]

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Crypto Salaries Gain Regulatory Recognition Around the World

Crypto Salaries Gain Regulatory Recognition Around the WorldSalaries paid in decentralized digital coins have become a norm across the crypto industry, but there’s really no reason why cryptocurrencies can’t be used for remuneration by businesses in other sectors as well. In many jurisdictions that should be legal even in the absence of dedicated legislation. Switzerland, New Zealand, Japan and Estonia are a […]

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Ron Paul Slams Fednow Payment System and Encourages Crypto Competition

Ron Paul Slams 'Fednow' Payment System, Encourages Crypto Competition InsteadRon Paul, the muckraking former congressman from Texas, is stirring things up once again, this time taking aim at the new real-time digital payment system proposed last week by the U.S. Federal Reserve. Presented as an innovative solution by government and media voices, the cryptosphere received the news of the Fednow program with little more […]

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EU Members Adopt Tougher Crypto Rules Than AML Directive Requires

EU Members Adopt Tougher Crypto Rules Than AML Directive RequiresEurope is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s Fifth Anti-Money Laundering Directive (AMLD5) […]

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Research Reports Show Positive Crypto Industry Growth in H1 2019

More than half the year is behind us and the cryptocurrency ecosystem continues to move forward, showing relentless growth over the last six months. 2019 has also seen a new theme arise as speculators believe the cryptocurrency ecosystem is experiencing an influx of institutional interest and regulatory crackdowns. A variety of cryptocurrency research reports analyzing […]

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Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto

Banks Stopped Walmart Bank - Now the Retail Giant Hits Back With CryptoOn August 1, it was discovered that the giant retail corporation Walmart has patented plans for a stablecoin that’s backed by U.S. dollars. If released into the wild, the USD-based cryptocurrency would be issued to select Walmart retailers and partners while the patent’s description explains the coin could be used outside of Walmart’s retail scope […]

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Africa’s Interest in Bitcoin Remains High as 15 States Plan to Adopt the ‘Eco’ Currency

Africa's Interest in Bitcoin Remains High While 15 States Plan to Adopt the 'Eco' CurrencyBy 2020, a large group of West African countries plan to adopt a single fiat currency called the eco. After a meeting in Abuja held on June 29 between the 15 member-country regional bloc, the implementation of a new single currency, after debating the monetary unit for years, was agreed. Despite the eco discussion and […]

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BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto ExecutiveItaly has had its share of economic problems in the past decade and a growing number of its citizens blame the euro for their country’s misfortunes. Italians, many of whom still prefer to use cash, are now turning their attention to cryptocurrencies such as BCH. Federico Pecoraro, the CEO of Chainblock, one of the first […]

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Consumer Affairs Report Shows 70% Spike in Japanese Crypto Inquiries

Consumer Affairs Report Shows Crypto-Related Inquiries Spike in Japan by 70%Japan’s Consumer Affairs Agency (CAA) has released its 2019 report and noted a significant spike in inquiries concerning cryptocurrency related issues last year. The report details a 70% increase in 2018 in regard to consumer queries largely stemming from exchange issues. Moreover, over the last two quarters of 2019, the Japanese yen paired with various […]

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Dithering U.S. Regulators Risk Causing a Brain Drain to Friendlier Crypto Climes

Dithering U.S. Regulators Risk Causing a Brain Drain to Friendlier Crypto ClimesCryptocurrency companies in the United States aren’t happy. Token issuers, exchanges, and VCs are up in arms about vague and contradictory guidance on crypto asset regulation. Should the U.S. fail to update its archaic securities laws, they warn, there is a risk of top talent making an exodus to friendlier crypto climes. Also read: Countries […]

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Traders Are Now Banned From Using Localbitcoins Exchange in Iran

Traders Are Now Banned From Using Localbitcoins Exchange in IranTraders from Iran have been banned from using the peer-to-peer trading platform Localbitcoins.com within the country. The Iranian section of the website displays a short message that states that the exchange is “currently not available.” The news follows significant Iranian rial trade volume on the Localbitcoins platform, which has been climbing steadily over the last […]

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Québec Allocates 300 MW Energy Quota for Crypto Mining

Québec Allocates 300 MW Energy Quota for Crypto MiningQuébec, the resource-rich Canadian province, has made up its mind about cryptocurrency mining. Régie de l’énergie, the region’s energy regulator, has rendered its decision on the blockchain sector and lifted the moratorium on electricity supplies. An additional 300 MW of energy will be allocated to power the minting of digital coins, a move that local […]

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Dozens of Crypto Trademarks Filed in the US This Year

Dozens of Crypto Trademarks Filed in the US This YearGeneral interest in cryptocurrencies is not what it used to be during the all-time highs of 2017 and established companies in the industry have been rethinking their priorities. Entrepreneurship in the crypto space, characterized by ingenuity and optimism, remains strong however. This is shown by the fact that dozens of businesses and individuals in the […]

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Russia Prepares to Test Cryptocurrencies in Four of Its Regions

Russia Prepares to Test Cryptocurrencies in Four of Its RegionsThe Russian Federation, which is yet to regulate digital assets, is now planning to allow four of its regions to test innovations that are not covered by its current legislation. A bill drafted by the Economy ministry envisages the establishment of regulatory sandboxes there. The special economic zones will allow companies, entrepreneurs and authorities to […]

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Survey Shows South Koreans Increased Crypto Holdings by 64% Last Year

Survey Shows South Koreans Increased Crypto Holdings by 64% Last YearOver the last few years, South Korea has become a hotspot for cryptocurrencies and the region captures a large amount of the world’s digital asset trade volume. A survey published on April 20 by the Korea Financial Investment Association shows that the average South Korean cryptocurrency trader has increased their crypto holdings by 64.2% over […]

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Russia Adopts Law to Isolate Runet From the Internet

Russia Adopts Law to Isolate Runet From the InternetRunet, the Russian segment of the internet, is about to be isolated from the rest of the web. A new law adopted by the State Duma aims to do so in order to supposedly protect it from external threats and turn it into a “sovereign” space. Russian taxpayers and end users will pay the bill […]

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