The leading messaging app in China, WeChat, has banned all of its merchants from engaging in crypto-related transactions. WeChat, owned by giant Tencent, introduced the new ban on April 30th, 2019. The update to the Payment Service Protocol states that all merchants using the app’s services cannot be involved in any virtual currency trading transactions…
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Despite China’s anathema for all things crypto, Donald Tapscott, chairman of the Blockchain Research Institute and noted author on blockchain matters, believes that, over time, Chinese officials will get over their fears and embrace cryptocurrencies. In an interview with Bloomberg, he noted: In 20 years, we’re not going to be using bitcoin in China. The…
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The US-based Bittrex cryptocurrency exchange got its BitLicense application rejected by the New York Department of Financial Services on April 10th, 2019. The New York Department of Financial Services (NYDFS) published a letter in which they explain the multiple reasons why the application of Bittrex was rejected, stating: Based on the Department's extensive review of…
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If there is one aspect about cryptocurrencies that irritates regulators and government officials more than any other, it is the anonymity afforded the criminal element of our society by the nature of blockchain distributed ledger systems. At its next meeting on June 8 and 9 in Fukuoka, Japan, the G20 central bank governors and finance…
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In India, it has been a year since its central bank effectively issued a ban on cryptocurrencies by forbidding its banking members from providing service to any crypto related company. Investors may still trade, but at least two exchanges have shut their doors, claiming a lack of basic transaction accounts in the domestic banking system…
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The SEC has unveiled a comprehensive guideline to clarify whether or not any specific crypto is to be considered a security. They also ruled that an airline’s rewards program token is not a security and can continue to operate, the first time they have done so for a crypto asset. For the first time ever,…
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Pakistan is one of the countries that has not been quite "pro-crypto". Just on the contrary, the country has been quite strict when it comes to the use of cryptocurrencies. For example, some time ago, the central bank of the country warned all financial institutions and banks that the use of virtual currencies is highly…
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The Autorité des marchés financiers (AMF) and the ACPR have issued a public warning against the activities of several new websites and entities offering trading of investments on cryptocurrency derivatives without authorisation in France. Here is the list of the websites recently identified: www.avenir-crypto.com www.cryptos-advisor.com www.directco-invest.com www.direct-ep.com www.falcon-wl.com www.futur-solution.com www.globalco-crypto.com www.mabanquecrypto.com www.mcminage.com www.phoenix-gm.com A list…
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The SEC seems to be trying very hard to understand the blockchain, fintech and cryptocurrency world. The agency is preparing to hold a public fintech forum on blockchain in May, 2019. The SEC announced that some of its staff will hold a forum on DLT and digital assets on 31st of May. Some time ago,…
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Japan is introducing new cryptocurrency margin trading rules, as reported by the Japanese news agency Nikkei on the 18thof March, 2019. The idea is to bring more “order” in the crypto space and all exchanges that fail to follow the new regulations will be closed. The new amendments to the Japanese payment and financial services…
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