The state of California has introduced a new bill that aims to recognize blockchain transactions, digital signatures, and smart contracts as a legal form of record. Assemblyman Ian Calderon introduced Assembly Bill 2658 on February 20 in order to re-define laws that apply to electronic records that take place within the state. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten California State Assembly Person Introduces Blockchain Record Keeping Bill An American lawmaker serving in the California State Assembly in the 57th district, Ian Calderon, wants blockchain…
Read MoreMonth: February 2018
Four Arrested Following Taiwanese Crypto Robbery
Taiwanese police have arrested four men after a bitcoin robbery worth five million Taiwanese dollars (approximately $170,000 USD). The case has been described as the first of its kind in Taiwan by authorities. Also Read: Bungling Bitcoin Thieves Foiled by Quick-Witted Trader Taiwanese Trader Loses 18 Bitcoins in Robbery A bitcoin trader with the surname of Tai has become the victim of Taiwan’s first crypto robbery. Taiwanese Police have stated that three men in their early 20s arrange to meet Mr. Tai in the city of Taichung under the pretext that…
Read MoreFrench Regulators Are Cracking Down on Cryptocurrency Binary Trading
According to a new report, a French market regulator has started cracking down on online trading platforms that offer cryptocurrency derivatives. Cryptocurrency Derivatives With the recent rise for cryptocurrencies worldwide, many trading platforms have started offering binary options, contracts, and derivative products tied to major cryptocurrencies like Bitcoin, Litecoin, and Ethereum. These new trading products have drawn the attention of several regulatory agencies in Europe. One of them is the French Autorite des Marches Financiers, which stated: The AMF concludes that a cash-settled cryptocurrency contract may qualify as a derivative, irrespective…
Read MoreRussia to “Tame and Test” Crypto Technologies in Crimea
A proposal to “tame” crypto technologies in Crimea has been made in Russia’s parliament this week. A local representative of the Russian Association of Cryptocurrencies and Blockchain told deputies the republic’s jurisdiction can be used to “test the new phenomenon”. RACIB has been working on a roadmap to implement the “Crypto-Crimea” plan and set up a blockchain technology development center on the peninsula. Also read: Russian Authorities Criticized over Proposed Crypto Regulation Testing Ground with а Special Status Ever since its accession to the Russian Federation in 2014, Crimea has…
Read MoreVenezuela Orders Government Services to Accept Any Cryptocurrency
Venezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Maduro’s Orders Maduro has ordered various government services to accept any cryptocurrency including the petro, Venezuela’s oil-backed currency which began its private pre-sale on February 20. This announcement was broadcasted nationwide from the Miraflores Palace and also reported…
Read MoreAustralia’s Consumer Watchdog Received 1289 Crypto Complaints in 2017
The Australian Competition & Consumer Commission (ACCC) has revealed that it received more than 1,200 complaints relating to cryptocurrencies via its ‘Scamwatch’ portal during 2017. In light of the number of complaints, the Australian Securities and Investments Commission (ASIC) has issued a warning to potential investors outlining the risks associated with cryptocurrency investment. Also Read: Tesla Hit by Hackers Who Used its Systems to Mine Cryptocurrency Australia’s Consumer Watchdog Received 1,289 Complaints Relating to Cryptocurrencies Last Year The Australian Broadcasting Corporation has reported that data obtained from the ACCC indicates that…
Read MoreUK Investigating Crypto, Spinning Future Regulation as Positive
The first step of a potential crackdown on cryptocurrencies is underway in the UK. Investigators are said to be taking a good look at Bitcoin and its underlying technology, as a means of measuring cryptocurrency’s overall risk to central banking and traditional financial institutions, while also assessing whether or not regulatory measures are necessary. Is Regulation Impending? The UK appears to be setting the stage for cryptocurrency regulation. According to The Telegraph, The House of Commons Treasury Committee is conducting an investigation into both cryptocurrency and the blockchain, sparking fears of…
Read MoreSpokesperson Confirms Bitfinex Is Client of ING
Major Dutch financial services company, ING, has confirmed that Bitfinex holds an account with the company in the Netherlands. The bank issued a statement regarding its relationship with Bitfinex after Dutch-language website Follow the Money published a report revealing that ING is providing financial services to Bitfinex last week. Also Read: Independent Ratings Agency Alerts Investors About Dangers of Tether ING Confirms Relationship With Bitfinex Harold Reusken, an ING spokesperson, has confirmed via email that Bitfinex holds an account with the bank in the Netherlands. Mr. Reusken did not comment when…
Read MoreFBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack
Jon E. Montroll, a 37 year old from Texas, is now facing up to 30 years in jail for perjury and obstruction of justice. The operator of Weexchange and Bitfunder is accused of repeatedly lying to the SEC under testimony in an effort cover up massive client losses after being hacked. Also Read: US Federal Authorities Arrest Man for Selling 9.99 Bitcoin Bitcoin Exchange Operator Arrested by FBI The FBI announced on Wednesday that Jon E. Montroll (aka Ukyo) was taken into federal custody for giving false sworn testimony and…
Read MoreMarkets Update: BTC Prices Dip Below $10K
BTC prices and a vast majority of other cryptocurrencies have taken a significant dive over the past 24-hours as the entire crypto-economy shaved $75Bn from its recent highs this week. BTC/USD markets dropped to a low of $9,730. Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media Crypto-Markets See Losses Between 3-20 Percent Two days ago BTC/USD markets reached a high of $11,780 across global trading platforms, but bulls seem to have lost some of the momentum. Presently bulls are trying to get the price back above the…
Read More