When it comes to fulfilling their responsibilities related to the new world of virtual assets, regulators across the world are caught between a rock and a hard place. Protecting consumers from fraud can be exceedingly difficult when current regulations on the books cannot be easily applied to the crypto ecosphere. The European Securities and Markets…
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India can definitely be called "anti-cryptocurrency". Indian banks are now forcing their clients to "promise" not to use Bitcoin. The regulations come from the Reserve Bank of India. Indian banks are "forcing" their clients to sign a contract that says that they will not be using Bitcoin or any other cryptocurrencies. In addition, banks in…
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Thailand is following in the footsteps of Japan, when it comes to regulating the cryptocurrency industry. Thailand has recently issued its very first licenses to four cryptocurrency exchange applicants. The Security and Exchange Commission in Thailand has already granted four licenses to Bitcoin Co, Satang Corporation, Bitkub Oline Co ltd and Coins TH Co. The…
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The Autorité des marchés (AMF) has just warned the public against the activities of several unauthorised crypto websites. The regulator, along with the Autorité de contrôle prudentiel et de resolution (ACPR), have published a list of these websites and entities offering trading of investments on cryptocurrency derivatives without authorisation in France. The list can be…
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The concerns over the cryptocurrency regulations are growing constantly. Countries around the world are not really sure how to classify cryptocurrencies, as money, as digital assets, as property rights or as a completely different category. The US Treasury Department of Foreign Assets Control or OFAC has prosecuted two Iranians for conducting a major cyberattack, now…
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Blockchain solutions have been missing an essential feature – the custodian one. Now, InVault, a Hong Kong-based cryptocurrency custodian service company, has recently launched after the country put new regulations valid for crypto exchanges and fund managers, requiring both to properly implement custodian solutions to their offerings and protect the virtual assets of their clients.…
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Since cryptocurrencies' market value fell by some 20% in just under two weeks, there is a new report showing that the massive declines in prices of major alt coins have forced around 35 crypto hedge funds to close. Bitcoin, for example, has lost more than 70% of its value as compared to its December, 2017…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm GMT Crypto. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Cryptobourse. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to scam…
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Coinsource, the Bitcoin ATM network, has announced that it was granted a virtual currency license in the state of New York. With approximately 40 physical kiosks in the state, the Fort Worth based company becomes the first Bitcoin ATM operator to be granted a New York virtual currency license, and only the twelfth company overall.…
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