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Indian Finance Minister Answers Crypto Questions at IMF Meeting
21.10.2019
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court...
‘No-Deal Brexit Huge Positive for UK Cryptocurrency’ – How Brexit Could Affect the Industry
20.10.2019
British lawmakers have voted to postpone a crucial Brexit vote and forced Prime Minister Boris Johnson to ask the EU for an extension. News.Bitcoin.com talked to the CEO of a local crypto exchange to find out the effects a no-deal Brexit could have on the crypto industry. Also read: SEC Wants...
Fed Research Considers Negative Interest Rates Effective Policy Tool
20.10.2019
A research paper published by the Federal Reserve Bank of San Francisco shows how negative interest rates could become an important policy tool for fighting future economic downturns. The paper examines the market response to the introduction of negative interest rates by five major central banks....
SEC Wants Second Look at Bitwise Bitcoin ETF Proposal
18.10.2019
The U.S. Securities and Exchange Commission (SEC) is reviewing its order issued last week pertaining to a rejected proposal for a bitcoin exchange-traded fund (ETF). The proposal was filed by NYSE Arca for the Bitwise Bitcoin ETF Trust. Meanwhile, the SEC is also evaluating a proposed rule change...
Where US Regulators Stand on Crypto Assets
16.10.2019
The U.S. has many regulators responsible for overseeing different aspects of crypto assets, each with its own stance on how they should be regulated. Major regulators in the U.S. with strong opinions on cryptocurrency include the SEC, the CFTC, the Federal Reserve, Fincen, and the IRS. Also read:...
G20 Informed Stablecoins Could Pose Financial Stability Risk
16.10.2019
The Financial Stability Board has informed the G20 finance ministers and central bank chiefs of the risks stablecoins could pose to financial stability. Unlike crypto assets which do not pose financial stability risk at this time, stablecoins could pose a host of challenges. Also read: Unicef...
Indian Supreme Court Postpones Crypto Case to November
15.10.2019
The Supreme Court of India on Tuesday once again postponed hearing the case against the crypto banking restrictions by the Reserve Bank of India (RBI). The central bank has replied to crypto exchanges’ representation as directed by the court, which was supposed to resume hearing the case...
Diversified Crypto Fund Receives FINRA Regulatory Approval
15.10.2019
Grayscale Investments has received regulatory approval to publicly quote shares of its diversified crypto fund. The product, which is the firm’s only diversified offering, invests in five main cryptocurrencies. In addition, the firm offers nine single-asset investment funds, some of which...
Tax Guide: What Crypto Owners Should Know
14.10.2019
With the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are...
IRS to Require 150 Million Tax Filers to Disclose Crypto Dealings
12.10.2019
The U.S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies...
Visa, Mastercard, Ebay, Stripe Join Paypal in Leaving Libra
12.10.2019
Most payment companies have now pulled out of Facebook’s Libra project. Visa, Mastercard, Ebay, and Stripe have followed Paypal in dropping out of the project amid regulatory concerns. The Libra Association has responded to the exodus of these companies. David Marcus, who is in charge of...
5,200 Tobacco Shops in France Now Sell Bitcoin
11.10.2019
Bitcoin can now be purchased at 5,200 tobacco shops in France. Fintech startup Keplerk launched the service on Oct. 10 after halting it for many months. France’s 24,000 licensed tobacco shops have diversified into non-tobacco products to boost revenue. Also read: IRS Issues New Crypto...
SEC Rejects Another High-Profile Bitcoin ETF Proposal
10.10.2019
Another high-profile proposal for a bitcoin exchange-traded fund (ETF) has been denied by the U.S. Securities and Exchange Commission (SEC). The agency, however, emphasized that the disapproval was not based on whether bitcoin has utility or value as an innovation or an investment. Shares of...
United Nations Agency Unicef Launches Cryptocurrency Fund
9.10.2019
Unicef announced Wednesday that it has launched a cryptocurrency fund and become the first United Nations organization to hold onto its crypto donations. Without converting them into fiat, the fund will hold two cryptocurrencies and disburse them to support projects benefiting children worldwide....
Indian Supreme Court Sets Date to Hear Crypto Case Next Week
7.10.2019
The Supreme Court of India has confirmed a new date to hear the crypto case after multiple delays. During the last hearing, the court directed the Reserve Bank of India (RBI) to reply to crypto exchanges’ representation within two weeks, which the central bank has done. Also read:...
Bank Raided, Arrests Made but RBI Still Restricts Withdrawals
6.10.2019
The crisis has elevated at the cooperative bank recently placed under regulatory restrictions by India’s central bank. Multiple branches have been raided and several arrests were made. However, the RBI continues to impose a withdrawal limit, preventing bank customers from accessing their...
7 Crypto ETPs Now Trading on Main Swiss Stock Exchange
4.10.2019
Switzerland’s principal stock exchange now has seven cryptocurrency exchange-traded products (ETPs) listed. They allow investors to either gain exposure to individual cryptocurrencies or invest in portfolios of top cryptocurrencies. Four ETPs track the prices of single cryptocurrencies. Also...
RBI Ban Stops Indian Police From Cashing Out Seized Crypto
4.10.2019
The effects of banking restrictions by the Reserve Bank of India (RBI) have reached an Indian police department. The police sold some cryptocurrencies they seized only to find out that they cannot access the Rs 8.42 crore (~$1.2 million) proceeds due to the current RBI banking ban. Also read:...
New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals
2.10.2019
Customers of a cooperative bank with 137 branches across India still do not know the fate of their money, which was restricted by the central bank. Evidence of alleged bank fraud has since surfaced, but the RBI still insists that India’s banking system is safe, despite many citizens being...
How G20 Central Bank Digital Currencies Are Progressing
2.10.2019
Central bank digital currency has become a hot topic among finance ministers and central bankers worldwide, with some G20 countries ahead of the rest on work done toward issuing their own digital currencies. Experts have weighed in on their expectations of when the first G20 digital currency will...