Buyer’s Remorse? Cryptocurrency Lawsuits Have Tripled Since 2017

Cryptocurrency lawsuits increased threefold in the first two quarters of 2018 compared to the whole of last year. This is according to a report prepared by Lex Machina, a legal analytics firm. Last year, the number of cases mentioning bitcoin, cryptocurrency or blockchain amounted to just 15 ,but in the first and the second quarters …

Japan Ramps up Scrutiny of New Cryptocurrency Exchange Applicants

Japan’s primary financial regulator has dramatically increased its screening process of applicants registering to open cryptocurrency exchanges, according to a local report. The Financial Services Agency (FSA), Japan’s financial regulator and watchdog, has “increased the number of questions asked when screening applications to about 400 items”, a four-fold increase from previous norms, the Japan Times …

Does Beijing’s Commercial Crypto Ban Signal a Further Govt. Crackdown?

Commercial venues located in Beijing’s bustling downtown district have been banned from hosting cryptocurrency events, igniting speculation over whether China’s government is moving to tighten the noose on the industry, which continues to thrive despite last year’s trading ban. According to a report published on Chinese-language outlet QQ, local authorities in Beijing’s Chaoyang district have …

Keep Your Hands Off Cryptocurrency, Economist Tells World Governments

Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central banks around the world to let go of the idea of creating state-backed cryptocurrencies and instead focus on the soundness of the fiat system and the banking system. “Leave Crypto Alone” In an editorial published …

Roger Ver Sent Governor of Jeju I$100 in Bitcoin Cash, Did it Violate Local Policy?

Roger Ver, a prominent cryptocurrency investor who has backed some of the largest companies in the global crypto sector such as Blockchain, Zcash, BitPay, and Kraken, recently sent the governor of Jeju Island of South Korea $100 worth of bitcoin cash at a public event. Humorous Kim Yeong-Ran Rule Banter Over the weekend, Ver visited …

NY BitLicense Chief Clashes with U.S. Treasury over Fintech Banking Charters

The New York State Department of Financial Services (DFS) has stated its opposition  to the U.S. Department of Treasury’s endorsement of regulatory “sandboxes” for fintech companies that essentially allow fintechs to receive special bank charters, according to a statement on its website by Maria T. Vullo, DFS superintendent and overseer for the state’s BitLicense regime. The …

What Happens After it’s Passed?

The government of South Korea is hurrying the finalization of the country’s first crypto and blockchain legislation, to recognize the cryptocurrency and blockchain sector as legitimate industries. What it Means For Crypto As CCN reported, local financial authorities initially disclosed their intent to regulate the cryptocurrency market with stricter but more comprehensive regulatory frameworks to …

Bitcoin Price Slides After SEC Rejects Winklevoss ETF

The bitcoin price careened back toward $8,000 on Thursday after the U.S. Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ second attempt to create a bitcoin ETF and list it on a regulated stock exchange. The bitcoin price had entered the evening trading at approximately $8,300, a mark it managed to hold until shortly …

South Korea is Officially Recognizing Crypto Exchanges as Regulated Banks

For the first time in history, the government of South Korea has officially recognized crypto exchanges regulated financial institutions and banks. Local publications in South Korea have reported that the financial authorities of South Korea have finalized their plans to categorize crypto exchanges as an industry called “Cryptocurrency Exchange and Brokerage” to enable trading platforms …

Bermuda Amends Banking Act to Favor Blockchain Startups

Bermuda continues its push to become a global hub for blockchain and fintech innovation, having recently announced plans to change its banking laws to create a class of banks catering to blockchain and fintech companies, according to Finextra. The amendment to the country’s Banking Act follows the recent passage of a Digital Asset Business Act …