The SEC is now considered by some as “thorn in the eye” of many Bitcoin enthusiasts. Back in March, 2019 Leaprate reported on the situation inside the SEC regarding crypto regulation. As the crypto world keeps evolving and other markets become more aggressive in their desire to be market leaders, will the intransigence of the…
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Bitcoin is in ascendance again. Positive fundamental forces are originating from Facebook and Fidelity crypto initiatives. Institutional investors want to get in the game, if they have not already. The public, global regulators, and government officials are becoming more receptive to the notions of cryptocurrencies and blockchain technologies, thereby allowing fear and ridicule to dissipate…
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It should come as no surprise that crooks also know the benefits of outsourcing, especially when it comes to money laundering. To perform the entire operation on your own would require a multitude of phony companies, bank accounts, and the ability to transfer and deposit at will, not exactly what a common thief could build…
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It comes as no surprise to many that laws regarding cryptocurrencies can vary widely by national jurisdiction. Government officials the world over are having difficulty classifying the new digital asset age according to existing statutes. On top of that issue, each country may have several agencies with overlapping responsibilities that can confuse the situation even…
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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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