Marshall Islands President Survives No Confidence Vote Prompted by National Crypto Plans

The President of the Republic of the Marshall Islands Hilda Heine has narrowly survived a no confidence vote that was partly prompted by her plans to introduce a national digital currency, Asia-focused English-language publication Nikkei Asian Review reports Nov. 12. The Marshallese parliament was reportedly split 16-16, just one vote short of the number needed…

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The Cyberspace Administration of China (CAC) has announced that it will accept public feedback through Nov. 2 on draft rules it recently published to regulate blockchain projects, but the proposed legislation has already drawn a mixed response from distributed ledger technology (DLT) analysts. Also Read: Bitstamp Confirms Acquisition by South Korean Company Strict Rules for DLT Users…

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Int'l Financial Watchdog FATF to Introduce Cryptocurrency Rules in 2019

The Financial Action Task Force (FATF) – an international agency which is intended to tackle criminal activity across the globe, is set to issue the first set of rules regarding cryptocurrency regulations in 2019. Focus on Crypto Exchanges The FATF is based in Paris and it is currently comprised of 37 countries. Its’ president Marshall…

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Blockchain Companies Get GDPR Advice from EU Consulting Body

In addition to offering blockchain ventures advice on data protection compliance, the EU Blockchain Observatory and Forum has appealed again to EU authorities to resolve the existing tension between privacy protection laws and DLT. The European Union Blockchain Observatory and Forum, a consultancy body under the umbrella of the European Commission, has published guidance on…

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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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Australian Gov’t Partners With IBM and Legal Experts to Build Smart Contracts Platform

IBM, CSIRO’s Data61 and law firm Herbert Smith Freehills have partnered on a new Australian consortium to build a cross-industry blockchain-based smart contracts platform for enterprises, according to a press release published August 29. Data61 is a digital innovation center that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) – an Australian…

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Blockchain Data Now Has Legal Bearing in the State of Ohio

Governor John Kasich from the Midwestern state of Ohio signed a bill this week that formally recognizes data recorded on a blockchain and electronic signatures as having legal bearing in a court of law. The state joins Vermont and Arizona, two states that have already passed laws that recognize blockchain-based transactions. Blockchain Records Now Recognized…

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Law Commission of India Recognizes Cryptocurrency as Means of Electronic Payment

The Law Commission of India has recognized cryptocurrency as a means of electronic payment. The pronouncement came during the Commission’s recent feasibility study of the legality of online gambling in the country. Cryptocurrency enthusiasts in India will most likely welcome this news given the negative view held by many government officials towards virtual currencies. Law…

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Cryptocurrencies in India are at par with electronic means of payment, states the Law Commission of India

The Reserve Bank of India [RBI] has appealed for a ban on cryptographic forms of money, as to preclude the banks for conversion of digital currencies into Indian Rupee [INR]. On 3rd July, the Supreme Court of India [SC] held the hearing of Internet and Mobile Association of India, IAMAI vs RBI. According to the reports,…

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Tether is Fully Backed Says Law Firm According to Tether

Freeh, Sporkin & Sullivan LLP (FSS), a Washington-based law firm formed by three former judges, including a former FBI director, says tether is fully backed with dollars. In a report hosted by Tether, they say: “FSS is confident that Tether’s unencumbered assets exceed the balance of fully-backed USD Tethers in circulation as of June 1st,…

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Wendy McElroy: Crypto – Civil Law Versus Common Law

The Satoshi Revolution: A Revolution of Rising Expectations Section 3: Decentralization Chapter 8, Part 1. Crypto: Civil Law Versus Common Law “World’s Second Most Valuable Cryptocurrency Under Regulatory Scrutiny.” “Bitcoin CRACKDOWN: IMF chief Christine Lagarde calls for cryptocurrency regulation.” “France announces Bitcoin regulations amid cryptocurrency ‘bloodbath’.” 2018 is the year in which cryptocurrency will be…

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Class Action Lawsuit Against Ripple Alleges Sale Of Unregistered Securities

Law firm Taylor-Copeland law has filed a class action suit against Ripple Labs for the sale of unregistered securities, according to the official complaint filed yesterday, May 3. The lawsuit targets Ripple, its subsidiary XRP II, and Ripple CEO Brad Garlinghouse, alleging that Ripple’s sale of XRP tokens is a violation of U.S. securities laws….

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French Crypto Regulation à la carte: Context, News, Perspectives

France has been hard to classify on the crypto lovers/haters spectrum. During the 2018 G20 meetings, it claimed to aim at being a blockchain pioneer. At the same time, its ICO volumes are dwarfed by much smaller neighbors like Switzerland. On April 26, France dramatically cut the taxation of gains on cryptocurrency trading. Let’s see…

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Aussie Regulator Discusses Applying Existing Laws To Overseas ICOs

An Australian financial services watchdog has stated that ICOs conducted abroad may be subject to Australian laws if they accept investment from “Australian consumers.” In an April 26 address, Commissioner John Price of the Australian Securities and Investments Commission (ASIC), the country’s “corporate, markets and financial services regulator,” said that the agency would update ICO…

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The SAFT Is Alive But Who Knows How Well

Risky and rational. That about sums up the state of U.S. token sales in the wake of new dialogue on whether the mechanism, by which startups are issuing custom cryptocurrencies to raise funds, is compliant with the law. Lost in the dialogue, however, has been that there are many more specific types of token sales….

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Malta's Cabinet Approves Cryptocurrency Bill

The Cabinet of Malta has approved three bills related to cryptocurrency and blockchain technology. One bill in particular, the Virtual Financial Assets Bill, provides a regulatory framework for cryptocurrencies and initial coin offerings. Crypto Bill Approved by Cabinet The Cabinet of Malta approved three bills on Tuesday, one of which is the Virtual Financial Assets…

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Japan is planning new rules for legalizing controversial cryptocurrency fundraising

A Japanese government-backed research group has put forward rules that would see initial coin offerings (ICOs) given regulatory definition and approval. China and South Korea banned ICOs last year due to concerns of illegal activity and speculative investing in the space. A CNBC investigation last month revealed that more than 1,000 investors were swindled by…

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Report: Two Japanese Crypto Exchanges to Shut Down

Two cryptocurrency exchanges in Japan are reportedly set to cease operating amid growing scrutiny from regulators in the wake of a $500 million theft. According to Nikkei, two exchanges – Mr. Exchange and Tokyo GateWay – are withdrawing previously filed applications with Japan’s Financial Services Agency (FSA) in which they sought approval to launch services…

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