Category: Economy & Regulation
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Bitcoin ETFs Rejected Again: SEC Denies 9 Hopefuls in 3 Decisions
The United States Securities and Exchange Commission (SEC) has issued three published decisions, covering nine different Bitcoin ETF. Applications put forward by Direxion, Pro Shares, and Granite Shares were rejected along largely the same lines of argument. Also read: Meet Bitmain Founder Jihan Wu: A Most Important Man in Crypto Bitcoin ETFs Denied in Three Published…
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Venezuelans to Be Paid at Least Half a Petro a Month
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. …
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Regulations Roundup: This Fall May Bring More Crypto-Friendly Jurisdictions
August is not the best period for important decisions but it seems a good time to sketch plans for the second active half of the year. Authorities in several countries have shared their intentions regarding the regulation and oversight of the crypto space. The club of crypto-friendly jurisdictions may accept new members this fall. Others…
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Venezuela to Have Two Units of Account – Petro and Petro-Pegged Bolivar
President Maduro’s Venezuela is preparing to effectively adopt next week two official units of account – the nation’s crypto, El Petro, and the new petro-pegged bolivar that will replace the inflated national fiat. New salary and pricing mechanisms will be implemented as well, the country’s leftist leader promised. Also read: Malta Tops Exchange-Based Crypto…
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Malta Tops Exchange-Based Crypto Trade, Russia Leads in OTC Volume
Jurisdictions with crypto-friendly legislation or comprehensive regulations in place are leading in terms of exchange-based cryptocurrency trading. According to a new study, however, over the counter and P2P exchange is much more popular in developing nations and countries where non-cash payments are still not widely spread. Also read: Crypto Funds Number 466 Despite Trends, Uncertainty…
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Study: Crypto Funds Number 466 Despite Trends, Uncertainty
The number of crypto hedge and venture capital funds is increasing at a fast pace this year, already reaching a total of 466, despite the bearish market trend and continuing regulatory uncertainty. 96 new funds have been founded by the end of July, according to a new study whose authors believe this year’s number will…
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Iran Steps Up Plan for National Crypto After US Sanctions
Right after Washington’s move to impose sanctions that will restrict Iran’s access to US currency, reports came out that Tehran is speeding up the project to develop a national cryptocurrency. Officials in the Islamic Republic believe the state-issued coin could help circumvent the restrictions imposed by the Trump administration. Also read: New Bill Proposes 5%…
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New Bill Proposes 5% Tax on Crypto Incomes in Ukraine
A draft law prepared by deputies and representatives of the industry aims to introduce light taxation of crypto incomes in Ukraine. Businesses and individuals will be required to pay 5% on their profits from trading and mining cryptocurrencies when exchanged to fiat. Add to that the mandatory ‘military charge’ of 1.5% all Ukrainians owe the…
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Bitpay COO Believes Bitcoin is “Working” as Means of Payment
Bitpay’s chief operating officer, Sonny Singh, recently attested to the efficacy of bitcoin as a means of payment, stating that “bitcoin is being used all around the world for things other than speculation and trading.” The COO also reported that Bitpay processed $1.2 billion USD worth of bitcoin payment in 2018. Also Read: Swissquote Reports 44%…
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Survey: Crypto Exchanges Want Regulation but See Strict Policies as a Threat
The majority of crypto exchanges want to see the industry regulated, although many consider excessive regulation to be the biggest threat, according to a new study. A third of the platforms in the poll also fear a market crash that could suddenly devalue digital assets. A fifth of the exchanges dislike anonymity. Also read: Huobi…