South Korea’s Zeniex Closes Amid Government Crackdown on Unauthorized Crypto Exchanges

South Korea’s cryptocurrency exchange Zeniex will soon terminate its services due to a recent government crackdown on unauthorized platforms, a post by Zeniex reveals Friday, Nov. 9. The crypto exchange, a joint project by South Korea and China which opened May 2018, states in the post that due to “recent issues,” they have “come to…

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State Duma Chairman: Russian Stablecoin Would Be Equivalent to Fiat Ruble in ‘Digital Space’

The chairman of Russia’s State Duma Committee on Financial Markets has said that a state-backed stablecoin would be a complete equivalent to the Russian fiat ruble in a digital space, state-operated Russian news agency RIA Novosti reported Nov. 7. Chairman Anatoly Aksakov said that the “crypto ruble,” which may appear after the adoption of laws…

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Marshall Islands President Faces No Confidence Vote Due to National Crypto Plans

The President of the Republic of the Marshall Islands Hilda Heine faces a vote of no confidence due to her administration’s plans to introduce a national digital currency, Radio New Zealand News (RDZ) reported Nov. 5. The Marshallese parliament initially endorsed the creation of the national digital currency,  which would be called the Sovereign (SOV),…

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Venezuela Begins Public Sale of National Cryptocurrency Petro

The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies. Delegates from China have reportedly purchased some with yuan. Venezuela Starts Selling Petro On Monday,…

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New Zealand Gov’t-Backed Institute Issues Grant to Crypto Wallet and Trading Service

  New Zealand’s state-backed innovation institute Callaghan Innovation awarded a $330,000 grant to a local crypto wallet and trading service, according to a press release published Tuesday, Oct. 30. Callaghan Innovation issued an “R&D Project Grant” to local crypto wallet and trading platform Vimba, a rebranded version of former MyCryptoSaver. Following the grant, the crypto…

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Austria to Issue €1.15 Billion of Government Bonds on Ethereum

The government of Austria is to utilize ethereum’s public blockchain for the issuance of €1.15 billion ($1.35 billion) of government bonds in an auction that starts this October 2nd. Austria’s Finance Minister, Hartwig Löger, says: “For us, blockchain technology forms a focus of economic policy. Through setting up the FinTech Advisory Council at the Ministry of…

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Congressional Crypto Roundtable: Panel Discusses Token Classification and Compliance for ICOs

More than 45 representatives from major Wall Street firms and crypto companies took part in a meeting to discuss Initial Coin Offering (ICO) and cryptocurrency regulations in Washington D.C. September 25. The “crypto roundtable,” hosted by Congressman Warren Davidson in the last legislative session week before elections, gave a chance for industry representatives to express…

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US: Crypto Industry Reps, Lawmakers, Venture Capitalists to Discuss Regulatory Landscape

Representatives from U.S.-based financial giants and cryptocurrency startups will meet with Washington lawmakers this Tuesday to discuss the regulatory landscape, CNBC reported September 24. The roundtable dubbed “Legislating Certainty for Cryptocurrencies” will reportedly be hosted by Rep. Warren Davidson (R-Ohio). The attendees will address the issue of policy-making regarding the new asset class in the…

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Exchanges Don't Take Enough Action to Prevent Abusive Trading, New York Prosecutor Says

An analysis published by the New York attorney general hones in on a number of exchanges, pointing out what it perceives as a lack of accountability and customer protection. The office of the New York State attorney general submitted a report on Tuesday that highlighted what it perceived as problems that were pervasive in the…

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New York Attorney General Report Says Crypto Exchanges are at Risk of Manipulation

A new report published by the New York Attorney General’s office on September 18 says that cryptocurrency exchanges are vulnerable to manipulation, conflicts of interest, and other consumer risks. The report represents the results of the “Virtual Markets Integrity Initiative” launched in April, when New York Attorney General Eric T. Schneiderman sent letters to thirteen…

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Chinese Government Accepts Blockchain Records as Evidence in Court

A new ruling from China’s Supreme People’s Court clarified how blockchain records pertain to court processes, ruling that blockchain records are considered as admissible evidence in court. The new ruling regarding blockchain technology is particularly relevant for internet-based legal cases that can present difficulties regarding the accuracy of evidence and information presented to the court….

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Chinese Crypto Traders Find Ways To Skirt Government Crackdown

Rules Are Meant To Be Broken?  To many in the crypto community, intense government intervention or regulation is not a problem, as a majority of nations across the globe are somewhat open to the use and propagation of crypto assets. However, as reported multiple times by Ethereum World News in the past few weeks, China-based…

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Australian Regulator Hints at Increased Crypto Exchange and ICO Scrutiny

Australian regulator the Australian Securities and Investments Commission (ASIC) has revealed plans to increase scrutiny of cryptocurrency exchanges and Initial Coin Offerings (ICO) in its ‘Corporate Plan’ published this week. ASIC, which acts as a supervisory organ for financial market operators, highlighted the exchange sector as an area of priority through 2022. Specifically, the body…

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Swiss Blockchain Company Gains Regulator Approval, Seeks Banking License in 2019

Swiss blockchain startup Smart Valor has won approval from the country’s regulators to operate in the local financial market, Reuters reported September 5. Smart Valor will be regulated by the local Financial Services Standards Association (VQF) rather than the national regulatory agency, the Financial Market Supervisory Authority (FINMA). The VQF is authorized by FINMA to…

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How Venezuela Came to Be One of the Biggest Markets for Crypto in the World

Venezuela has been living with hyperinflation since at least 2014. Its national currency — the Venezuelan bolívar — hit an official inflation rate of 57.3 percent in February 2014, while independent currency analysts were reporting that, by that September, the real inflation rate had already topped 100 percent. In other words, the bolívar (VEF) was…

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Colombian President Promises to Cut Rent Taxes for Crypto Firms

Colombian President Ivan Duque has recently promised to cut taxes for cryptocurrency and blockchain startups, local newspaper El Tiempo reported Wednesday, August 29.   Duque delivered an opening message during ANDICOM, an international congress on information and communications technology (ICT) held annually in Cartagena de Indias, Colombia. A recording of his speech is now available on…

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University of Malta Launches Blockchain and DLT Scholarship Fund

The University of Malta has partnered with the Malta Information Technology Agency (MITA) to establish a €300,000 ($351,000) blockchain and distributed ledger technology (DLT) scholarship fund, Times of Malta reported August 29. The new scholarship is targeted at students studying information and communications technology (ICT), law, finance, and engineering, and will be split over three…

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Russian Financial Monitoring System Seeking Tool to Track Crypto Transactions

The Russian Federal Financial Monitoring Service has ordered an analytical tool to track crypto transactions, especially those in Bitcoin (BTC), BBC News Russia reported Wednesday, August 29. By the end of 2018, the new application will be included in a condensed monitoring system for the organization, whose main alleged aim is to confront fraud schemes…

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Russian State Pension Fund to Use Blockchain for Employment Contracts

The Russian state pension fund (PFR), the country’s largest social service, has recently suggested implementing blockchain technology in labor relations, local news outlet Izvestiya reports Wednesday, August 29, citing the organization’s press center. The fund plans to introduce smart contracts to be used as employment contracts between employers and employees. Such agreements could be made…

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Fundstrat’s Tom Lee: ‘Correlation’ Between BTC and Emerging Markets Is Sign of Upcoming Trend Reversal

Fundstrat’s Bitcoin (BTC) analyst Tom Lee has claimed that the cryptocurrency “could end the year explosively higher,” citing a correlation between it and emerging markets. Lee has made his new prediction in an interview during CNBC’s “Trading Nation” show August 25. The Head of Research at Fundstrat Global Advisors has said that he “still think[s]…

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