Posts in category

Regulation


A group of licensed cryptocurrency exchanges in Japan is looking to restore market confidence by adopting self-imposed rules. According to the Japanese news outlet Asahi Shimbun Tuesday, 16 exchanges that are currently registered with Japan’s Financial Services Agency (FSA) have formally launched a new self-regulatory organization dubbed the Japanese Cryptocurrency Exchange Association. Taizen Okuyama, president and CEO …

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Regulation: It’s good for you, but it’s going to hurt. That seemed to be the main takeaway for the cryptocurrency industry from Monday’s Business of Blockchain conference at the Massachusetts Institute of Technology (MIT). On the one hand, the event was clouded by speculation that the U.S. Securities and Exchange Commission (SEC) may go as …

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WikiLeaks has had to find alternative solutions for its online shop. On April 20, 2018, the whistle-blowing document depository revealed in a tweet that Coinbase has shut down the WikiLeaks’ online store account. Even with  Coinbase out as a payment processor, WikiLeaks’ online shop is still able to use  CoinPayments.net for cryptocurrency payments, accepting both bitcoin …

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California could become the next U.S. state that allows companies to store data – including information about stockholders – on a blockchain. Bill 838 was first introduced by Senator Robert Hertzberg in January, but public filings show that the measure has picked up steam in recent days. The State Senate’s Banking and Financial Institutions Committee referred the …

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The High Court of Delhi has issued a notice to India’s central bank over its order barring banks from engaging with cryptocurrency services, following a petition from a bitcoin exchange operator. The company, Kali Digital Ecosystems, had planned to launch an exchange platform called CoinRecoil in August of this year. The firm filed the petition last week, seeking “an appropriate writ, …

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Iran’s financial businesses should not deal in bitcoin or other cryptocurrencies, according to the country’s central bank and one of its principal market regulators. Fearing the possible illicit use of cryptocurrencies in money laundering and terrorist financing, the Central Bank of Iran (CBI) sent out a circular on Sunday to prohibit the use of the …

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The CEO of Monex Group, Japan’s third-largest online brokerage, thinks Japan’s cryptocurrency exchanges – including the one his firm recently decided to buy – should be regulated more strictly. “Japan’s exchanges do both matching and custodial services – they’re close to a bank,” Oki Matsumoto told Reuters in an interview published Friday. “To someone in …

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When Arthur Breitman, cofounder of Tezos, published a white paper on the cryptocurrency project in September 2014, he listed the author as L.M. Goodman. Later, when Breitman disclosed that he was the real author behind the work, many wondered why he used a pseudonym.  As it turned out, at the same time he started working …

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Several venture capitalists (VCs) and entrepreneurs have been petitioning federal authorities to see certain virtual currencies in a “different light.” Right now, many cryptocurrencies are in danger of being classified as “securities,” which would place them under strict regulatory scrutiny. Working to change this, venture capital firms Andreessen Horowitz and Union Square Ventures have gathered …

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The Department of Justice has unveiled fraud charges against another co-founder of cryptocurrency startup Centra, a move that comes weeks after two other founders were arrested and charged. The U.S. Attorney’s Office for the Southern District of New York said Friday that Ray Trapani has been arrested and charged in connection with the company’s token …

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Taiwan aims to formally regulate bitcoin under anti-money laundering (AML) rules before the end of the year. According to the Taiwan Central News Agency, Chiu Tai-san, the country’s minister of justice, said at an anti-money laundering event on Friday that the nation aims to have the legal framework ready before a visit to Taiwan by the Asia …

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The European Parliament has backed a move to bring closer regulation to cryptocurrencies such as bitcoin. The parliament’s members voted by a large majority on Thursday to support a December 2017 agreement with the European Council for measures aimed, in part, to prevent the use of cryptocurrencies in money laundering and terrorism financing. The parliament members passed the move …

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Xunlei, the NYSE-listed cloud network provider, has launched its proprietary blockchain platform, despite ongoing class actions over an alleged initial coin offering (ICO). At a press event in Beijing on Friday, the company announced its open blockchain protocol dubbed ThunderChain, which is designed to enable developers to build decentralization applications. Based on the practical Byzantine …

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The co-founder of Tezos, the cryptocurrency project that made headlines with its $232 million initial coin offering last year, has received a sanction order from a U.S. financial regulator. According to a report by Reuters, the Financial Industry Regulatory Authority (FINRA) prohibited Arthur Breitman from association with broker-dealers for two years and handed him a …

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Major crypto industry investors Andreessen Horowitz and Union Square Ventures reportedly held a private meeting with U.S. Securities and Exchange Commission (SEC) officials to discuss the exemption of blockchain-based tokens from the agency’s oversight. The Silicon Valley-based venture capital firms and their special counsel met with senior officials from the SEC’s Division of Corporate Finance …

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Initial coin offerings (ICOs) raised more money in the first three months of 2018 than the whole of 2017, according to data collected by CoinDesk. At $6.3 billion, ICO funding in the first quarter is now 118 percent of the total for 2017, a figure that might go a long way toward undermining a common …

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Cryptocurrency miners in South Korea may find it to be more difficult in getting foreign-made mining chips imported to the country. According to data published by the Korean Customs Service (KCS) Wednesday, the government agency has added cryptocurrency mining chips into the current list for items that are mandated to meet certain requirement set by …

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Telegram CEO Pavel Durov is battling against Russian security forces, after they implemented a block on Monday, April 16, 2018, on the messaging app when it refused a court order to “grant state security services access to its users’ encrypted messages,” according to Reuters. The move was initiated by Alexander Zharov, head of the Russian …

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San Francisco-based cryptocurrency exchange Kraken isn’t planning to respond to the New York Attorney General’s newly-unveiled inquiry into the ecosystem. Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman on Tuesday as part of his new inquiry into cryptocurrency exchanges, as previously reported. While most exchanges generally …

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The Philippines Securities and Exchange Commission (SEC) has officially warned against 14 cryptocurrency investment schemes seeking to attract consumers in the country. In an advisory statement issued Wednesday, the regulator listed the names of the 14 investment projects, including Onecash, which was already called out by the SEC in a previous warning last month. As …

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