Category: Regulation

VERDAD is the Most Dangerous Crypto Bill to Face Congress Yet

VERDAD is the Most Dangerous Crypto Bill to Face Congress YetThe U.S. Congress is considering more than 20 bills on cryptocurrency. One deserves special attention: S.1025, the Venezuela Emergency Relief, Democracy Assistance and Development Act (VERDAD). “Verdad” is Spanish for “truth.” If VERDAD passes, it will be the first time a specific crypto has been deemed illegal for Americans at home or abroad to use. […]

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Changes Afoot for Philippine Crypto-Friendly Economic Zone

Changes Afoot for Philippine Crypto-Friendly Economic ZoneThe special economic zone in the Philippines known for its crypto friendliness is undergoing some changes. Government-owned Cagayan Economic Zone Authority (Ceza) is investigating a case involving one of its licensed crypto exchanges after a tip from the Chinese government. The authority has also issued new directives to all of its licensees, including 40 crypto […]

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Indian Parliament Member Helping Crypto Community Influence Regulation

Indian Parliament Member Helping Crypto Community Influence RegulationThe Indian crypto community has made progress towards influencing the government’s crypto policies. Some industry leaders have met with an influential lawmaker who has agreed to help bring about positive crypto regulation in the country. Also read: India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives Crypto a Boost Parliament Member Agrees to Help […]

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FATF-Driven Delistings Capture the Criminalization of Privacy

FATF-Driven Delistings Capture the Criminalization of PrivacyThe delisting of privacy coins like monero, zcash, and dash is becoming something of a trend in Asia, and could soon expand elsewhere. In the wake of the intra-governmental Financial Action Task Force (FATF) issuing new global standards, Korean exchanges Okex and Upbit have announced they will delist and put warnings on several privacy coins […]

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European Countries Step Up Response to Facebook’s Libra

European Countries Step Up Their Responses to Facebook’s LibraThe European Central Bank (ECB) and a number of countries in the region have stepped up their efforts in response to Facebook’s Libra, which has revived a competing ECB project for instant payments. As Facebook engages Switzerland’s financial regulator, the ECB clarifies how Libra can be regulated under EU laws. Also read: India’s Popular ‘Who […]

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Crypto Facilitates Money Transfer for Restricted China

Crypto Facilitates Money Transfer for Restricted ChinaCrypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money can […]

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Indian Lawmaker Raises Hope of Positive Crypto Regulation

Indian Lawmaker Raises Hope of Positive Crypto RegulationA member of the upper house of the Indian parliament has given the crypto community some advice on what can be done to influence the government’s crypto decisions. He encourages anyone to reach out to him and discuss their concerns, including issues related to the draft bill to ban cryptocurrencies in India. His words and […]

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Government Hates Crypto Because It Empowers the People, Not Because It’s Used for Crime

Government Hates Crypto Because It Empowers the People, Not Because It's Used for CrimeA recent article from MIT Technology Review has leveraged a somewhat sensationalist headline to stir up fear about bitcoin and crypto. The article, written about a “hidden” government weapon to be deployed against Bitcoin, references September 3 senate subcommittee testimony by Washington D.C. consulting firm Financial Integrity Network. In the testimony, Vice President of the […]

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5 Key Concepts from Day One at Bitcoin Cash City

5 Key Concepts from Day One at Bitcoin Cash CityWith day one of North Queensland’s Bitcoin Cash City all wrapped up, conference attendees were left with an overflow of big ideas to distill, process, and potentially integrate. These include underwriting merchant adoption, building tech parks and mining operations, BIP70 applications, separation of money and state, government applications of crypto, user experience, and regulation. The […]

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Fantasy Sports Giant Fanduel Now Accepts Bitcoin Cash

The second-largest fantasy sports provider Fanduel has revealed customers can make deposits on the platform using cryptocurrency. Fanduel members can now top up their accounts with BCH or BTC via the digital currency payment provider Bitpay. Also Read: More Than 70 Projects and Applications Built Around Bitcoin Cash Fanduel Adds Bitcoin Payments via Bitpay Fantasy […]

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Indian Government’s New Report Views Crypto Positively

Indian Government’s New Report Views Crypto PositivelyA new Indian government report has put cryptocurrency in a positive light, viewing the mechanisms surrounding it, including initial coin offerings, as “revolutionizing the global fintech landscape.” The report also discusses the regulation of coins and tokens. Also read: Indian Exchanges Innovate as Calls for Positive Crypto Regulation Escalate Steering Committee’s Report The Indian Ministry […]

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Dutch Central Bank Prepares to Start Regulating Crypto Sector

Dutch Central Bank Prepares to Start Regulating Crypto SectorThe central bank of the Netherlands is preparing to supervise the country’s crypto sector. The bank has requested crypto exchanges and wallet providers to come forward and submit some information. Once the law takes effect, these operators will be required to register with the central bank to continue operations. Also read: Crypto Can Boost Indian […]

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Indian Exchanges Innovate as Calls for Positive Crypto Regulation Escalate

Indian Exchanges Innovate as Calls for Positive Crypto Regulation EscalateIndian crypto exchanges are innovating, launching new products and improving services for their users, despite the country’s regulatory uncertainty and unresolved banking restrictions. Meanwhile, the Indian crypto community continues its efforts to convince the government that the draft bill to ban cryptocurrencies is flawed, calling for positive regulation instead. Also read: Crypto Can Boost Indian […]

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Crypto Needs Less Government Regulation – Not More

Crypto Needs Less Government Regulation – Not MoreA recent opinion article by Peter Lin, “Why Regulation Is The Best Thing For Crypto,” presents common arguments on why the state and state-affiliated institutions should administer cryptocurrency. Underlying the arguments is an assumption: the free market cannot provide necessary standards for crypto and the state must step into the void. Also read: Why the […]

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Crypto Can Boost Indian Economy – How Banning Will Hurt it

Crypto Can Boost the Indian Economy - How Banning Will Hurt itThe Indian economy is experiencing severe economic slowdown not seen in many years, and cryptocurrency can potentially help. However, the government is considering a draft bill to ban cryptocurrencies, which could have undesirable consequences on the economy. Meanwhile, the Indian crypto community has already been enduring a banking ban by the central bank. Also read: […]

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Switzerland Approves Bitcoin Banks – But With Strict Conditions Attached

Swiss crypto banksOne of the major problems for businesses in the cryptocurrency industry is finding a bank that agrees to work with them and connect them to the traditional fiat financial system. The financial regulator in Switzerland has just made this easier by licensing two companies to serve as tailored banks for the industry and further open […]

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‘Not an Audit’: IRS Notice Could Spell Trouble for Crypto Traders

'Not an Audit' - IRS Notice Could Spell Trouble for Crypto TradersThe IRS took to Twitter on August, 26, posting a video about recently mailed CP2000 notices, of special interest to crypto traders. The notice, which seeks to rectify discrepancies made by recipients in tax reporting, is another in a series of crypto-related letters recently sent by the agency. Though the promised guidelines for reporting still […]

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The Push to Kill Cash – Australia’s Proposed Ban Shows It’s Not Conspiracy Theory

The Push to Kill Paper Money - Australia's Proposed Ban Shows It's Not 'Conspiracy Theory'The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction […]

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The New Bitcoin Banks Are Here

The New Bitcoin Banks Are HereA new age of banking is imminent. Legacy models will be forced to follow suit or become obsolete in the eyes of value holders worldwide, as new bitcoin and crypto services take over, seeking to implement blockchain systems with an eye on convenience and financial inclusion. Announcements of stablecoins and exchange services from giants Binance, […]

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Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set

Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date SetAfter hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume hearing the case. Also read: […]

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RBI Defends Its Power Over Crypto in Indian Supreme Court

RBI Defends Its Power Over Crypto in Indian Supreme CourtThe Indian supreme court heard the case against the crypto banking restriction by the Reserve Bank of India (RBI) in detail Tuesday. After many arguments challenging the RBI’s power over crypto were presented, the counsel for the central bank began making the case against cryptocurrency. Also read: RBI’s Power Over Crypto Challenged at Length in […]

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Fiat Lite vs. Freedom Maximalist: The Two Types of Bitcoiner

Fiat Lite vs. Freedom Maximalist - Regulations Highlight Two Types of BitcoinersAs regulation continues growing exponentially for cryptocurrencies worldwide, a chasm is yawning ever deeper between supporters. On the one hand, many yearn for massive adoption and clear regulations so they can get on with their trading, and get on with their lives – not to mention the lucrative value gains attendant to such ubiquity. This […]

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Philippines Increasingly Crypto Friendly – A Look at Driving Forces

Philippines Growing More Crypto Friendly - A Look at Driving ForcesThere are many reasons why the Philippines is becoming increasingly crypto-friendly. Not only has its central bank registered more crypto exchanges recently, but the Securities and Exchange Commission has also been actively finalizing crypto guidelines. The country has an active crypto community, and one of its largest banks has engaged in multiple crypto projects. Also […]

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IRS Revoking Passports Shows How Government Erodes Everything We Hold Dear

Government Parasitism - Why Crypto, Geo-Mobility and Sustenance Are CriticalIf you have outstanding tax debt, the IRS may now want to take your passport. For U.S. crypto holders still waiting on promised IRS guidelines for filing — especially those overseas who may have missed these warning memos — the over 400,000 agency notifications issued since February last year are troubling. This kind of behavior […]

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