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Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing
23.1.2020
India’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest...
Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies
23.1.2020
In this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with the U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail...
Retail Accumulation? Number of Bitcoin Addresses With One or More Coins Sees Solid Rise
22.1.2020
A key on-chain metric has witnessed solid growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders
Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court Today
22.1.2020
India’s supreme court spent all day on Wednesday hearing extensive arguments from both the counsel representing crypto exchanges and the central bank, the Reserve Bank of India (RBI). The counsel for the central bank confirmed again that cryptocurrency is not banned in India, but still...
Digital Chamber Asks Court to Draw Line Between Investment Contracts and Assets in Telegram Case
22.1.2020
The Chamber of Digital Commerce, a blockchain advocacy group, wants a U.S. court to distinguish between an investment contract and the underlying asset used by Telegram during a 2018 initial coin offering
Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed Exchange
22.1.2020
A new presidential decree in Uzbekistan envisages the introduction of tax exemptions for income obtained from operations involving crypto assets. The draft document published recently also incorporates proposals for the establishment of a blockchain valley and licensing regime for cryptocurrency...
UK Tax Agency to Pay $100K for Blockchain Surveillance Software
21.1.2020
On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a private contractor to design a cryptocurrency blockchain analysis tool. According to the listing, the contract is for one year and HMRC will pay the contractor $100,000 for software...
RBI Confirms Crypto Not Banned in India
21.1.2020
The Reserve Bank of India (RBI) has confirmed that cryptocurrency is not banned in India. During the latest supreme court hearing of the crypto case, the central bank’s reply to the Internet and Mobile Association of India was read out in detail. The RBI clarified that it only fenced in...
Popular Crypto Wallet Imtoken Adds Bitcoin Cash Support
21.1.2020
Consistently among the top digital assets in the world by market cap, Bitcoin Cash is accepted by most crypto service providers and the list just keeps growing. The latest platform to add BCH support is the popular crypto wallet with over 10 million downloads, Imtoken. Also Read: Bitcoin.com...
Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru
21.1.2020
A Centre of Excellence in Blockchain Technology has been inaugurated by Indian Union Minister Ravi Shankar Prasad in Bengaluru. It will facilitate various government departments in their blockchain work, leading to large scale deployment of blockchain applications. Also read: Regulatory Roundup:...
Maduro Opens Crypto Casino in Venezuela
20.1.2020
Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in...
New Bill in Oklahoma Proposes Depository for Cryptocurrencies Used by Government
19.1.2020
A bill has been introduced in the U.S. state of Oklahoma to establish a new type of state-chartered financial institution that will be “the central depository for virtual currency used by governmental agencies in this state.” The new establishment aims to provide financial and technical...
Malaysia Announces Digital Asset Guidelines
19.1.2020
The Securities Commission Malaysia has published the country’s guidelines on digital assets which set out the regulatory framework for token sales. All token offerings must now be carried out only through platforms approved by the commission. The guidelines also detail the obligations...
Crypto Experts Join OECD ‘High Level’ Advisory Board
19.1.2020
The Organisation for Economic Cooperation and Development, an intergovernmental body with 36 member countries, has formed “a high-level expert group” which includes executives from the crypto industry. They will provide advice in helping develop international blockchain policy...
FATF Holds Global Forum to Discuss Crypto Supervision
18.1.2020
The Financial Action Task Force (FATF) and over 50 delegations involved in crypto supervision recently gathered to discuss how to regulate crypto assets and related service providers. While examining three key areas, they stressed the importance of international cooperation, citing that...
Crypto vs RBI: 3 Days of Intense Supreme Court Hearings
18.1.2020
India’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance...
Canadian Regulatory Group Targets Crypto Exchanges Holding Users’ Digital Assets
17.1.2020
Canada's top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users' digital assets
Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million ‘Groundless’ Tax
17.1.2020
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply...
Crypto dealer SFOX Adds New Service for Fund Managers to Invest in Digital Assets
17.1.2020
The service has enabled fund managers to manage individual securities in a single account for their clients in the traditional financial services industry. However, the company claimed it has not been available to those with digital assets
Silvergate Bank and Bitstamp Launch Bitcoin Collateralized Loans
16.1.2020
U.S.-based Silvergate Bank has launched a bitcoin collateralized loan product with Bitstamp as its launch partner. The crypto exchange will act as the bank’s agent to manage and provide custody for bitcoin collateral. The product utilizes Silvergate Bank’s Exchange Network to fund loans...