Category: Regulations

The White House Just Blamed Bitcoin for America’s Opiate Crisis

The White House Just Blamed Bitcoin for America's Opiate CrisisThe opioid epidemic is the new devil Bitcoin is being blamed for inflaming, to be added to the already long list of heinous crimes crypto is supposedly responsible for, like terrorism, money laundering, and trafficking. While it’s painfully clear that the U.S. dollar is a much more common tool for these unethical and illicit activities, […]

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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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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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Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event

Expert Insists IRS Letters Clarify - Exchanging One Crypto for Another Is TaxableThe U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters “very seriously.” Sean Ryan, CTO of Node40, a platform […]

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US Regulator Plans to Outsource Running Cryptocurrency Nodes

US Regulator Plans to Outsource Running Cryptocurrency NodesA recently published document reveals that the U.S. Securities and Exchange Commission (SEC) has plans to hire contractors to run specific cryptocurrency full nodes for the government agency. According to the SEC documentation, the regulator wants third-party contractors to run nodes for Bitcoin Core (BTC), Ripple (XRP) and Ethereum (ETH) in order to monitor compliance […]

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Large Regulated Token Sales Indicate ICOs May Be Coming Back

Large Regulated Token Sales Indicate ICOs May Be Coming BackInitial coin offerings have seen a significant decline in popularity, but they are not to be written off completely. Although you don’t hear the term “ICO” so often nowadays, some recent regulatory developments indicate they have a place in the digital economy realm. Crowdfunding through token sales has a chance of becoming a mainstream instrument […]

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Honestnode Founder Discusses the First Stablecoin Built on Bitcoin Cash

Honestnode Founder Discusses the First Stablecoin Built on Bitcoin CashOn June 12, the Honestnode team announced the release of a new stablecoin project built on top of the Bitcoin Cash network called Honestcoin (USDH). The new token was made using the Simple Ledger Protocol (SLP) and recently launched on the cryptocurrency trading platform Coinex. This week news.Bitcoin.com spoke with the founder of Honestnode, Jian […]

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The Myth of Authority: Mnuchin Denies USD Is Used Criminally

The Myth of Authority - Steven Mnuchin Claims Nefarious Activities Not 'Successfully Done' With CashU.S. Treasury Secretary Steven Mnuchin has once again weighed in on bitcoin, claiming the U.S. dollar has not been used to finance “nefarious” activity on a recent episode of CNBC’s Squawk Box. Democratic House Representative Maxine Waters also dropped a tasty nugget of a soundbite as well, sharing her thoughts on “bitcom” and the need […]

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G20 Policymakers to Discuss Regulations Proposed by Crypto Industry

G20 Policymakers to Discuss Regulations Proposed by Crypto IndustryAs world leaders start arriving for the G20 summit in Osaka, Japan, policymakers and crypto industry representatives are convening at another summit to discuss the implications of proposed global standards for crypto assets and service providers, as well as solutions that will minimize unintended consequences of implementing these standards. Also read: FATF Releases Global Standards […]

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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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VPN Providers Defy Order to Connect to Russia’s Internet Censor

VPN Providers Defy Order to Connect to Russia’s Internet SensorRussian regulators have once again moved to expand oversight of the online space in an attempt to ensure compliance with various restrictions Moscow is trying to impose. But as in other cases, their efforts have been met with resistance. Over a dozen VPN platforms, popular among crypto enthusiasts and other privacy-conscious users, have refused to […]

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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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Will Belarus Be the First Country With Nuclear-Powered Bitcoin Mining?

Will Belarus Be the First Country With Nuclear-Powered Bitcoin Mining?Cryptocurrency mining has lost some of its profitability during the prolonged bear market of the past year. However, not all investors are short-sighted. Belarus, for example, is not giving up on its intentions to develop the digital economy, of which the crypto space is a part of. Minsk thinks it has enough resources and soon […]

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Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s

Lithuania to Adopt Crypto Regulations Stricter Than the EU RulesLithuania, one of the Baltic tigers that has in past few years demonstrated it doesn’t shy away from new technologies and the digital economy, is preparing to introduce stricter rules for crypto companies. The government in Vilnius is working on amendments that according to officials will go beyond the requirements of the latest, fifth EU […]

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Regulators Tackle Businesses in Europe’s Crypto-Friendly Nations

Regulators Tackle Businesses in Europe’s Crypto-Friendly NationsThere’s a group of countries on the Old Continent that have recognized the potential of the newly forming cryptoconomy. In the past couple of years, nations such as Malta, Switzerland and Estonia have been making efforts to attract businesses from the nascent industry, often rebuffed elsewhere. However, registering and running a crypto company, even in […]

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In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

In the Daily: Mt Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss RegulationsMt. Gox rehabilitation trustee Nobuaki Kobayashi has reviewed the claims filed by the exchange’s creditors and we’ve included his announcement in The Daily. Also, Caspian launches crypto derivatives trading in partnership with Deribit, Facebook is looking to hire a blockchain lawyer, and Swiss lawmakers have tasked the federal government with adapting existing regulations to cryptocurrencies. […]

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Lithuania Central Bank’s Policy Update Opens the Door for Crypto Payments

Financial Companies in Lithuania to Accept Cryptocurrencies Through Third PartiesThe central bank of Lithuania has updated its position on cryptocurrencies and tokens issued through initial coin offerings. The regulator has revised the definition of these assets specifying the conditions under which financial institutions can operate with digital money and accept crypto payments. Also read: Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account […]

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In the Daily: Liberstad Coin, Mining Contracts, Luxembourg Law

In the Daily: Liberstad Coin, Mining Contracts, Luxembourg LawIn this edition of The Daily, we look at Liberstad’s progress toward building a libertarian community in Norway. The city has just issued its own digital coin. Also, crypto mining contracts have been classified as securities in the Canadian province of Quebec. And in Europe, Luxembourg has adopted a law that protects crypto traders and […]

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Indonesia’s Futures Regulator Issues New Rules for Crypto Assets

Indonesia's Futures Regulator Issues New Rules for Crypto AssetsIndonesia’s Futures Exchange Supervisory Board (Bappebti) has announced new regulations on the implementation of physical markets for crypto assets in futures trading. The rules focus on good governance for cryptocurrency tradèrs, legal certainty and consumer protection. They will also require the regulator to establish a physical market for futures trading in virtual currencies. Also read: Crypto […]

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US Lawyers: Crypto Regulations Are ‘Tough Waters to Navigate’

"Patchwork" of US Cryptocurrency Regulations are "Tough Waters to Navigate"In a recent interview, Matt Kohen and Justin Wales, two senior counsels working for Carlton Fields’ virtual currency and distributed ledger technology group, highlighted the challenges that legal practitioners and regulators face in interpreting United States regulations pertaining to cryptocurrency. Also Read: Quadrigacx Saga: Founder’s Widow Owns $5.6m Properties, Hospital Confirms Cotten’s Death Cryptocurrency Lawyers Emphasize […]

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Over 50 Bitcoin ATMs Operate Legally in Russia, Study Finds

Over 50 Bitcoin ATMs Operate Legally in Russia, Study FindsAt least 51 cryptocurrency ATMs operate in compliance with the current regulations in Russia, estimates a new report. According to the study produced by the country’s crypto industry association, the average monthly turnover of each of these teller machines is around $27,000. Also read: Crypto Startups Push Swiss VC Investments to a Record $1.25B Most […]

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Florida Appeals Court Defines Bitcoin as Money as Espinoza Ruling Reversed

Espinoza Ruling Reversed, Florida Appeals Court Defines Bitcoin as MoneyIn 2016, Judge Teresa Mary Pooler of the Eleventh Judicial Circuit of Florida made headlines for a ruling she made during the Michell Espinoza trial. Judge Pooler ruled Espinoza could not be charged with illegal money transmission offenses because bitcoin was not considered legal tender. However, a motion filed with the Florida appeals court has […]

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The Wrapped Bitcoin Project Has Officially Launched on Ethereum

The Wrapped Bitcoin Project Has Officially Launched on EthereumOn Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms. Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings The Introduction of […]

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