Huobi Indonesia has announced that it has launched a local fiat gateway to enable a direct fiat-to-crypto trading facility between the Indonesian Rupiah (IDR) and Tether (USDT). Indonesian investors will now be able to use the local fiat currency to trade over 250 cryptocurrencies available on Huobi Indonesia's digital asset exchange. Local customers can now…
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The Dash Gold Foundation has announced that it will use the gold SKR (Safe Keeping Receipt) to promote BDSG (Beyond Dashgold) digital currency payment business, online shopping mall and gold sales business, and digital currency ATM business. Gold SKR is issued by BankoSentralng Pilipinas, and the beneficiary is the Dash Gold Foundation. BDSG, a digital…
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Uzbekistan has allegedly banned its citizens from buying cryptocurrencies. According to local news media Novosti Uzbekistana, it was the National Project Management Agency that has barred its citizens from buying digital coins, even ones on established exchanges. The news comes out as a shock to many, especially since Uzbekistan was thought of "crypto friendly" place. For example,…
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Russia is moving forward with testing stablecoins, as The Bank of Russia has started testing these pegged to real assets set in regulatory sandbox. The head of the central bank, Elvira Nabiullina, commented that the bank does not assume that stablecoins will eventually replace money or function as payment means. What the Bank of Russia…
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The European Central Bank has proposed a new model to deal with cryptocurrencies, especially the AML risks associated with them. The ECB also clarified that it it not looking to creating its own coin. The new proposed payment system is called EUROchain and is a simplified CBDC payment type of service. Under this new model, all…
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The fight against the mining of cryptocurrencies continues with full force. It is a well-known fact that the mining of Bitcoin and other digital coins drains a huge amount of electricity and this cost often comes at the expense of the respective government. While in China it's no longer a crime to found mining operations,…
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The Australian Securities & Investments Commission (ASIC) has announced that the Federal Court in Sydney has issues asset restraint orders against Corporate Authorised Representatives of OTC derivatives provider USGFX, or Union Standard International Group Pty Ltd. ASIC has sought to issue the restraint orders in order to protect customers while an investigation against USGFX is underway. The Federal…
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FINRA has recently fined Robinhood with a $1.25 million for execution lapse processes. The California-based unicorn that offers commission-free trading servings to its clients has reportedly violated certain execution processes. What FINRA found out is that the execution price on the app was not updated in the proper way, an act that caused price disruptions…
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The US lawmakers are getting serious about regulating the cryptocurrency industry in 2020. Thus, the US is bringing a special regulatory framework for digital assets (including digital coins). For the purpose, a new bill called Crypto-Currency Act of 2020 is introduced to find out which federal agencies exactly are to regulate digital assets. The bill…
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The US SEC has approved time and time again that ICOs are no joke and companies wishing to go for such "schemes" must obey by certain rules. The latest example of a company that filed an illegal ICO and got penalized by the SEC with a $250,000 fine is BCOT (Blockchain of Things Inc.) The…
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