The Dutch central bank has imposed a fine on crypto exchange Coinbase for providing services in the past without the necessary registration. The trading platform, which has until March to object to the measure, is currently considering an appeal against the move. Dutch Monetary Authority Fines Coinbase for Operating Without Registration De Nederlandsche Bank (DNB) […]
A phenomenon like bitcoin can gain recognition, including regulatory, in many different and often unexpected ways. Governments that hesitate to accept cryptocurrencies as legal tender, sometimes validate their existence indirectly and even acknowledge they can be used for payments. Taxing crypto incomes and profits is one such example. Russia has just provided another one by […]
The post Russia’s Supreme Court Recognizes Tokens as Assets Like Money and Property appeared first on Bitcoin News.
A growing number of governments have responded to Facebook’s cryptocurrency plans including China, France, India, Japan, South Korea, Russia, Singapore, Thailand, the U.K., and the U.S. Several intergovernmental organizations have also weighed in such as the European Central Bank and the Bank of International Settlements. Also read: G20 Leaders Issue Declaration on Crypto Assets – […]
The post How 10 Countries Respond to Facebook’s Libra Cryptocurrency appeared first on Bitcoin News.
The decree establishing a legal framework for cryptocurrencies in Venezuela has entered into force. It contains 63 articles including rules for the purchase, sale, use, distribution, and exchange of cryptocurrencies and related products. It also mandates a registration system and details audit procedures, penalties for non-compliance, and how mining equipment can be confiscated. Also read: Indian Supreme […]
The Senate of the U.S. state of Wyoming has passed a bill which defines cryptocurrency as property and establishes rules including for allowing banks to provide crypto custodial services. For secured transactions, however, the bill recognizes cryptocurrency as money subject to some of the same rules as money in the state. Also read: Indian Supreme Court Moves […]
The post Wyoming Senate Passes Bill Recognizing Cryptocurrency as Money appeared first on Bitcoin News.
The price of BTC had increased in value significantly over the years, reaching $19,600 at its highest peak – and the exchange rate rests at $8,500 today. This is a stark contrast to just over a year ago when the digital currency’s value was under $1,000 per coin. Since the fiat value has increased so […]
The post Some of Bitcoin’s Earliest Adopters Find it Difficult to ‘Cash Out’ appeared first on Bitcoin News.
The South Korean Fair Trade Commission (KFTC) does not have the authority to close cryptocurrency exchanges. “It is impossible in reality,” said the KFTC chairman. The agency is currently investigating 13 major exchanges operating in the country for alleged violations of the e-commerce law. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto […]
The post South Korean Regulator: In Reality Impossible to Close Cryptocurrency Exchanges appeared first on Bitcoin News.
Bitcoin is a phenomenon that provokes conflicting emotions in people. Fear. Excitement. Elation. Doubt. For governments tasked with regulating every new thing that comes along, be it the motor car or the internet, bitcoin presents a conundrum. How to regulate such a seemingly unregulatable creation? While many western governments have reached for the button marked […]
The post Japan Teaches Western Governments a Lesson in Cryptocurrency Regulation appeared first on Bitcoin News.
By Jimmy Nguyen Chief IP, Communications & Legal Officer – nChain Group The bitcoin community still debates whether Segregated Witness will help the network’s scalability or will instead create more problems. As I have previously written, SegWit raises legal questions because it would enable full digital signature (witness) data to be dropped from the transaction […]
The post The Risks of Segregated Witness: Problems under Evidence Laws appeared first on Bitcoin News.
A South Korean district court has ruled for the first time regarding the nature of digital currencies. In the case where 216 bitcoins were seized by the police as criminal proceeds, the court ruled that it is inappropriate to confiscate bitcoins. Also read: South Korea to Dispose of 216 Bitcoins in First Public Auction The Court’s Ruling […]