US Congressmen Ask Fed to Consider Developing ‘National Digital Currency’
Two U.S. lawmakers want the Federal Reserve to consider creating a digital dollar.
Texas bill will require identity verification to use cryptocurrencies
A bill has been proposed in the state of Texas by Phil Stephenson that would require a person receiving cryptocurrencies as payment to first "verify the identity of the person sending payment." However, according to the bill, verification is not required "if the payment is sent by a verified identity digital currency.”
A California asset manager has come up with a clever way to include bitcoin in an ETF
A California-based asset manager has figured out a way to sneak bitcoin in an exchange-traded fund, and the CEO says it’s the best way to get a crypto fund approved by the Securities and Exchange Commission.
Important Aspects of Stablecoins: The Difference Between Pegging, Collateralization, and Redeemability
Stablecoins have been making the headlines in recent months, attracting big investors, tempted by the allure of a on ‘non-volatile’ cryptocurrency. At first, we usually pay attention to the backing connection, in other words, to the coin’s stabilizing mechanism. Broadly speaking, this is broken down into 3 categories: asset-backed (including fiat), crypto-backed, and non-backed stablecoins (including algorithms and the Seigniorage shares’ approach).
U.S. CFTC Seeks to ‘Provide Regulatory Clarity’ for Listing Virtual Currency Derivatives
The U.S. Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products, according to a CFTC press release published yesterday, May 21. The advisory statement is aimed at providing clarity for exchanges and clearing houses.
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime
The Hong Kong Financial Services and Treasury (FSTB) released a report yesterday, April 30, on the status of money laundering (ML) and terrorism financing (TF). The report concluded that virtual currencies (VC), like Bitcoin (BTC), are not particularly involved in either type of financial crime.
Romania's Oldest Bitcoin Exchange Is Shutting Down Next Week
In a notice dated April 22, the nation's oldest cryptocurrency exchange told its customers to withdraw all of their remaining funds from the platform, which had already suspended most of its operations - including the ability to trade between cryptocurrencies and fiat currencies like the Romanian leu - earlier this year.
Billionaire Mark Cuban Hates Bitcoin and Gold Equally: ‘I’d Buy a Pet Rock First’
Tech billionaire Mark Cuban, owner of the Dallas Mavericks, hates both gold and bitcoin, saying they’re not viable alternatives to currency.
Most Cryptos Aren't Commodities, Defendants Claim in CFTC Case
Defendants from a cryptocurrency services company charged with fraud by the CFTC are pushing back against the the agency's assertion that cryptocurrencies are commodities.
China To Develop Centralized Crypto, Protects Yuan Against Non-State Digital Currency
The People’s Bank of China (PBoC) will continue to apply strict measures on virtual currencies as part of its strategy for protecting and strengthening the yuan (RMB), according to a statement published March 29 on the bank’s website.
Dutch Court Finds Bitcoin A Legitimate “Transferable Value”
A Dutch court classifies Bitcoin as a “transferable value” after the court ruled in favour of a plaintiff who was owed 0.591 Bitcoins (BTC), according to a court document published March 20.
Over $6.2 Mln In Crypto Assets Lost To Fraud, Hacks In Japan Last Year
Over $6.2 mln (662.4 mln yen) of cryptocurrency was lost in 2017 due to fraud and theft, according to statistics released from Japan’s National Police Agency (NPA), local news outlet Nikkei reports today, March 22.
Swiss Foundation Gets $30mln To Start ‘Non-Volatile’ Cryptocurrency
A group of financiers will create a “complimentary global currency” subject to random identity checks and pegged to fiat, Financial Times reports March 22.
Venezuelan Politician Blasts US Sanctions as Petro ICO Goes Public
A senior politician from Venezuela's ruling party has denounced the sanctions imposed by the U.S. government against its recently launched national cryptocurrency, the oil-backed petro.
G20 Considers Crypto As Assets, Not Currencies, According To Document Draft
A draft of a G20 document -- acquired by Bloomberg -- reads that cryptocurrencies “lack the traits of sovereign currencies,” implying that the G20 considers crypto to be an asset rather than a currency, Bloomberg writes today, March 20.
SEC, CFTC Chiefs Set for Senate Crypto Hearing
The heads of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (SEC) are set to testify on cryptocurrencies during a U.S. Senate hearing next week.