China is introducing a Password Law at the very start of 2020 to promote digital currencies and their adoption. The ultimate goal is to allow the technology of blockchain to thrive and set a legal framework for the issue of digital blockchain-based RMB. According to press, China passed a password law in 2019 (October) that…
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While there is no proof who the real Satoshi Nakamoto is, legal cases and Bitcoin awards for proclaimed "Satoshis" are quire common. The latest one involves the most famous "Satoshi" of all: Mr. Craig Wright. Mr. Wright has fought several legal battles in the crypto industry, with the latest being against his former business partner…
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Takasbank (or Turkey’s Istanbul Clearing, Settlement and Custody Bank) has announced that it will be launching a blockchain-based physical gold-backed transfer system. The system is called BIGA Digital Gold and allows P2P gold transfer through blockchain. The transfer is valid for digitizable gold only. According to the announcement what the new system tries to accomplish…
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While the US is still pondering on a Bitcoin ETF, China is moving forward in to the future by preparing to launch its first blockchain ETF, it seems. Penghua Fund, a Shenzhen-based asset management company, has recently filed an application for a blockchain ETF, a document that was accepted by CSRC or the China Securities Regulatory Commission…
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Poloniex, the cryptocurrency exchange, has recently initiated a password reset procedure for all of its clients due to a confirmed email address and password "leak" on Twitter. The information comes from Cointelegraph. Yesterday, Poloniex sent an email to its customers to let them know that there is a list of leaked passwords and email addresses…
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Taxes in the cryptocurrency world are not an uncommon issue. In fact, the idea of taxing cryptocurrencies and crypto exchanges has been a long standing issue for many countries around the world. However, one of the largest cryptocurrency exchanges in the world and the largest one in South Korea, Bithumb, got hit with a massive…
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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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Malaysia is taking new steps to enhance the growing popularity of virtual banks and the benefits they can offer to customers. The country's central bank, Bank Negara Malaysia (BNM), will issue up to five licenses to digital banks in Malaysia. BNM is currently working on releasing the "Exposure Draft on Licensing Framework for Digital Banks", or…
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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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