Swiss Regulator: Crypto Assets Need 800% Risk Weighting In Absence Of Formal Rules

Swiss financial regulator has informally signaled cryptocurrency investments should have a risk weighting ratio of 800 percent of the original amount. FINMA Highlights Bank, Dealer Queries According to local news media outlet Swissinfo, the Swiss Financial Market Supervisory Authority (FINMA) revealed the figure in October in response to a query by trustee and accountant association […]

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South Korea Stands Firm: Won’t Legalize ICOs For Now

South Korea stood its ground on the matter of legalizing initial coin offerings (ICOs), reaffirming the ban that the country instituted last fall. ICO Ban Stands The Financial Services Commission (FSC) – South Korea’s top financial regulator — reaffirmed October 11 that the country will maintain its position on initial coin offerings and keep them outlawed. […]

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France Contemplating Regulatory Framework for Cryptocurrency Intermediaries

France is considering enacting the country’s very first regulatory framework governing crypto-asset intermediaries. The move will require fiat-to-cryptocurrency exchanges as well as custodians of cryptographic keys to undergo a mandatory AMF registration.  Getting Serious About Cryptocurrencies France is one of the more active members of the European Union when it comes to cryptocurrency regulations. The […]

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Iran: Central Bank Figure Hints Cryptocurrency Ban Will End In September

Iran will likely reverse its cryptocurrency ban in September, a central bank official told a conference August 26, paving the way for official regulation in the country. Regulators Revisit April Exchange Block The country, which introduced a blanket ban on trading in April this year, has since seen economic turmoil return to its economy in […]

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Poland Bitcoin Community Files Complaint Against Bank Account ‘Denials’

Poland’s cryptocurrency industry lobby group the Polish Bitcoin Association (PBA) confirmed it has complained to regulators about banks’ denial of services to businesses June 27. Banks ‘Aim To Remove Virtual Currency’ In a statement sent to the Office of Competition and Consumer Protection (OCCP), the PBA cites financial institutions closing and denying bank accounts as […]

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BitFlyer Halts New Account Signups As Regulators Demand Improvements

Wilma Woo · June 22, 2018 · 6:00 am Japanese cryptocurrency exchange BitFlyer suspended new account registrations on June 21, after regulators demanded it improves its security arrangements. BitFlyer Hit With AML/KYC Cleanup A tweet and statement confirmed the move, which officials implemented as part of a Business Improvement Order from Japan’s Financial Services Authority […]

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Got Bitcoin Mate? Because Australia Wants a Piece of Your Profits

Georgi Georgiev · June 19, 2018 · 6:00 am After moving to request all cryptocurrency exchanges to report to the country’s watchdog agency, the Australia Taxation Office (ATO) will be collecting Capital Gains Tax (CGT) on cryptocurrency gains, essentially classifying them as assets. Cryptocurrency = Asset Liz Russel, a senior tax agent at a private […]

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Bitcoin Price Falls As Markets React To (False) Japan Binance Threat [UPDATED]

Wilma Woo · March 22, 2018 · 7:30 am Bitcoin fell $500 in hours to hit two-day lows March 22 after news broke Japanese regulators may ban the world’s largest cryptocurrency exchange, Binance. Co-Founder Ye Not Concerned UPDATE: Binance CEO Changpeng Zhao has responded to the news on Twitter stating that the source showed “irresponsible […]

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Brave New World: Why the Crypto Revolution Shapes the Modern Individual

As a college student, I often ask myself about where I stand amidst the overarching reach of our institutions and the demanding responsibilities of public life. While many everyday actions seem impermanent – or overshadowed by the immensity of the collective – I have been thrown into a circumstance where I have regained my status […]

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Finnish Crypto Exchange Prasos Oy’s Trading Days May Be Numbered

Nikita Blows · March 9, 2018 · 11:00 pm Four out of the five banks that Finnish-based Prasos Oy uses for their business has severed ties with the exchange, citing money laundering fears as the main reason. Prasos Oy has become a well-known name in the Nordic region’s crypto circuit. The platform relies on the […]

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