Wednesday, December 11, 2019
A panel of senior financial regulators in the United States has warned the public about the purported risks of stablecoins and cryptocurrencies. A report issued on Dec. 4 by the Financial Stability Oversight Council (FSOC) highlighted potential problems resulting from stablecoins gaining wider recognition.The FSOC was set up...
On Nov. 27, major South Korean cryptocurrency exchange Upbit announced that 342,000 Ether (ETH), accounting for roughly $50 million, were stolen from its hot wallet earlier that day. Details remain vague, and some users are suggesting an inside job, although experts are skeptical of the theory after...
A new bill in Germany could enable banks to support the sale and custody of Bitcoin (BTC) and other cryptocurrencies by 2020.German news agency Handelsblatt reported on Nov. 27 that the bill now requires consensus from the country’s 16 states, having successfully passed through the Bundestag, the...
A California federal court has affirmed the validity of the United States Internal Revenue Service’s (IRS) request for data from crypto exchange Bitstamp in connection with an individual tax reporting case.Per a Nov. 25 filing, the court has found that five of the six arguments presented against...
Russia is allegedly preparing a ban on the use of cryptocurrencies to pay for goods and services.A report from Izvestia on Nov. 29 cites several sources allegedly familiar with ongoing discussions at the country’s central bank, financial regulator and Ministry of Finance in support of a ban.Legal...
In January 2020, the regulatory landscape for crypto businesses will completely change in the European Union in comparison with the last decade — and these changes will touch all those who store clients’ crypto funds or provide fiat-to-crypto exchange services, at minimum.Not long ago, the Anti-Money Laundering...
At least five Chinese cryptocurrency exchanges have halted or chosen to terminate operations this month in response to a perceived redoubling of Beijing’s anti-crypto stance.Exchange operator Bitsoda informed the public on Nov. 23 of its decision to terminate services; Akdex followed suit, announcing its decision to shut...
Blockchain researchers at online brokerage eToro have argued that Facebook should look to support third-party stablecoins, not Libra.According to a Nov. 28 report from Finextra, eToro’s blockchain research unit eToroX Labs believes that while Facebook’s crypto project offers a “trailblazing opportunity” to disrupt financial services worldwide, the...
A Ukrainian government official said that United States cryptocurrency exchange Bittrex sought to collaborate with the Ukrainian government on developing the country’s cryptocurrency industry.In a Nov. 20 interview with domestic blockchain media outlet ForkLog,. Deputy Minister of Digital Transformation Alexander Bornyakov claimed that Bittrex contacted the Ukrainian...
Cryptocurrency exchange BitBay will delist privacy-centric cryptocurrency Monero (XMR) due to money laundering concerns.The exchange announced the decision on Nov. 25, noting that the delisting will take place on Feb. 19, 2020. The exchange explained its decision“Monero (XMR) can selectively utilize anonymity features among projects. This feature...