Posts in category

Government


The Swiss Financial Market Supervisory Authority (FINMA) published a set of guidelines yesterday, Feb. 16, for applying existing financial market legislation to the regulation of Initial Coin Offerings (ICO). FINMA CEO Mark Branson sees these guidelines as a way of helping Blockchain technology successfully enter Swiss markets, noting that Blockchain companies “cannot simply circumvent the …

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Telegram creators Pavel and Nikolai Durov have filed a “Notice of Exempt Offering of Securities” with the US Securities and Exchange Commission (SEC) Feb. 13, reporting $850 mln raised under the SEC exemption Rule 506(c) from 81 investors for “the development of the TON Blockchain, the development and maintenance of Telegram Messenger.” The type of …

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The People’s Party of Spain is considering legislation that would give tax breaks to companies that use Blockchain technology, Bloomberg reports Feb. 15. Teodoro García Egea, the lawmaker preparing the bill, told Bloomberg that the legislation should be ready this year. García Egea added that bringing Blockchain-based companies into Spain will promote business across all …

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Berkshire Hathaway vice chairman Charlie Munger described Bitcoin as “totally asinine” Wednesday in what some consider will be one of his last public forums, Financial Times reports Thursday, Feb. 15. Speaking at the 2018 annual general meeting of the Daily Journal Corporation, Munger, who is 94, outed himself as one of Bitcoin’s most outspoken naysayers. …

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South Korea’s government said its regulatory course on cryptocurrencies is aiming to “prevent any illegal acts or uncertainties” in fresh comments Wednesday, Feb. 14. Quoted by various media outlets, the country’s minister of the office for government policy coordination Hong Nam-ki released a statement in response to last month’s public petition against harsh regulation or …

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South Korea has doubled down on its commitment to eliminating the use of cryptocurrency in illicit financial activities, while expressed a will to foster the country’s blockchain development. In a video published today, Hong Nam-ki, head of the office for government policy coordination, said the government is taking a strong stance in bringing transparency to domestic …

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Marc Hochstein is the managing editor of CoinDesk.  The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. “You have no sovereignty where we gather. We have no elected government, nor are we likely to have one…” The “we” John Perry Barlow referred to in his 1996 essay “A Declaration …

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Microsoft revealed its plans to integrate Blockchain-based decentralized IDs (DIDs) into its  Microsoft Authenticator app, the company announced in a blog post Monday, Feb. 12. As reported in the post, Microsoft is looking to provide new a model of digital identity that would not be controlled by any centralized institution and would guarantee fully private …

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International Monetary Fund (IMF) chief Christine Lagarde told CNNMoney yesterday, Feb.11, that regulation of cryptocurrencies is “inevitable” and necessary on an international level. When asked during an interview with CNNMoney emerging markets editor John Defterios, about the increasing popularity of crypto markets possibly being caused by a “starvation for high returns in the global markets,” …

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New cryptocurrency mining malware exploiting software for blind and partially-sighted people has infected “thousands” of website including the UK Government, the Guardian reports Sunday, Feb. 11. As various media outlets report Monday, malicious script was injected into BrowseAloud, a plugin which assists those with reduced sight in accessing online content. Visitors to sites involved see …

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In the corridors of Davos Cointelegraph has got a chance to catch up with Yobie Benjamin, co-founder and CTO Emeritus of Token.io with the background in mainstream banking (Citigroup). In five minutes, Benjamin shared his thoughts on regulation, huckster ICO’s and the potential of Blockchain. Cointelegraph: We are here with Yobie Benjamin. Could you introduce …

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Japanese cryptocurrency investors will pay between 15 and 55 percent on their profits declared on their annual tax filings this year, Bloomberg reports Thursday, Feb. 8. The Japanese National Tax Agency had already ruled “last year” that capital gains on transactions of virtual currency are considered “miscellaneous income,” Bloomberg writes. The tax on cryptocurrency profits …

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The US Internal Revenue Service (IRS) has assembled a team of 10 investigators for international crime investigations as well as for finding tax evaders who use cryptocurrency, Bloomberg reports Thursday, Feb. 8. Chief of the IRS Criminal Investigation Division Don Fort said that the team will work with international criminal agencies to investigate unlicensed exchanges …

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A senior Taiwanese official is urging the government to prepare policies to tackle the potential impact of cryptocurrencies on the island’s financial stability. Speaking at a seminar, hosted on Feb. 2 by Taiwan Academy of Banking and Finance, Shih Jun-ji, vice president of Taiwan’s executive branch of government, addressed issues around the financial impact of cryptocurrencies …

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Singapore’s deputy prime minister Tharman Shanmugaratnam provided new commentary on the government’s commitment “not to ban” cryptocurrency as part of its future regulatory plans. In a series of fourteen statements published Monday, Feb. 5 in response to questions posed by members of parliament Tuesday, Tharman Shanmugaratnam, deputy prime minister and minister in charge of regulatory …

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The Italian government is seeking feedback on proposed cryptocurrency regulations intended to clarify the technology’s use within the country. A summary of the proposed rules explains how service providers that accept cryptocurrencies would have to report their business and earnings to the Ministry of Economics and Finance, as well as what the government will do …

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Calls for cryptocurrency regulation were a resounding theme at the World Economic Forum in Davos last week.The world’s most prominent financial institutions remain wary of going all in on cryptocurrencies, amid fears of future regulation leading the market to tank. Governments around the world have signaled their ongoing or imminent intent to legislate and regulate …

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An Illinois government task force has outlined a potential direction for applying blockchain technologies in the state’s inter-government operations. According to a report filed on Jan. 31 by the Illinois Blockchain Task Force to the General Assembly, the state is eyeing the use of blockchain technologies to, at least, manage state residents’ identification, as well …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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Huge amounts of money are being poured into attempting to resolve institutionalized flaws within government service delivery. As recently as November 2017, the government of the UK committed £20 mln (approximately $27 mln in the US). Just as fintech has emerged as one of the fastest growing modern industrial sectors, it appears that ‘GovTech’ may …

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