Category: Economy & Regulation

  • The US Government Is Powerless to Block Bitcoin Addresses

    The US Government Is Powerless to Block Bitcoin Addresses

    It has been widely reported this week that the U.S. government has blacklisted two BTC addresses linked to cyber crime. These particular addresses were singled out because their owners are believed to be Iranians, whose country is currently facing heavy economic sanctions from the U.S. While the BTC addresses are clearly connected to ransomware, mainstream…

  • Malaysian MP ”Concerned About Threat” from Cryptocurrencies to Government Money

    Malaysian MP ”Concerned About Threat” from Cryptocurrencies to Government Money

    Lim Guan Eng, the finance minister of Malaysia, has warned individuals and companies planning to issue new cryptocurrencies with a stern: “don’t do it”. Addressing parliament on Nov. 26, Guan Eng advised to wait for legal guidance from Bank Negara Malaysia, the southeast Asian country’s central bank. Also read: Law Firm: South Africa’s Draft Law Could…

  • Uganda to Regulate Cryptocurrency as Fake Bitcoin Schemes Surge

    Uganda to Regulate Cryptocurrency as Fake Bitcoin Schemes Surge

    Uganda will seek to regulate crypto assets to prevent criminals from exploiting digital currencies to scam citizens. This comes as thousands of Ugandans have fallen victim to a number of Ponzi schemes, including the D9 Club, which promised to pay members in bitcoin. Minister of State for Finance (Planning) David Bahati said the government has…

  • Venezuela Approves Law Granting Legal Effect to the Petro

    Venezuela Approves Law Granting Legal Effect to the Petro

    A government plan to counter economic sanctions is coming into force in Venezuela after parliament passed a law on crypto asset regulation. The law, originally proposed by the country’s leader Nicolás Maduro, gives legal effect to the petro, Venezuela’s multi-asset-backed digital currency. Also read: Nigeria’s Opposition Leader Promises Cryptocurrency Policy If Elected President ‘Breaking Financial and…

  • Italian Securities Regulator Warns Against Three Unlicensed Cryptocurrency Companies

    Italian Securities Regulator Warns Against Three Unlicensed Cryptocurrency Companies

    Italy’s financial regulator, the National Commission for Companies and the Stock Exchange (CONSOB), has warned against three cryptocurrency companies engaged in schemes to promote cryptocurrency mining and investments. CONSOB said the companies were neither licensed nor authorized to provide the services they promised. Also read: North Korea to Hold Crypto Conference in April Cease and Desist…

  • Estonia Issues Over 900 Licenses to Cryptocurrency Businesses

    Estonia Issues Over 900 Licenses to Cryptocurrency Businesses

    In less than a year since Estonia introduced licensing for companies operating in the cryptocurrency industry, the number of licenses issued has surpassed 900. Authorities in the Baltic country have adopted a rather progressive approach to regulating the crypto space but startups have complained that local banks are still reluctant to offer them regular services.…

  • Isle of Man Updates Registration Rules for Cryptocurrency Businesses

    Isle of Man Updates Registration Rules for Cryptocurrency Businesses

    The financial regulator of the Isle of Man recently introduced changes to its policy governing the registration of companies in the cryptocurrency industry. The British Crown dependency in the Irish Sea is also tightening rules applicable to projects that conduct initial coin offerings (ICOs). Also read: Vietnam at Crossroads on Cryptocurrency Regulations Financial Authority Adopts…

  • Iran Completes Development of Rial-Supported National Cryptocurrency

    Iran Completes Development of Rial-Supported National Cryptocurrency

    Iran has finalized the development of its national cryptocurrency, which is backed by the local fiat unit, the rial. Once the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking institutions for testing in payments, internal and interbank settlements according to local media reports. Also Read: Bahamas…

  • Growing Number of Crypto Companies Operating From Belarus

    Growing Number of Crypto Companies Operating From Belarus

    A number of cryptocurrency businesses are now based in the Belarus Hi-Tech Park after the government in Minsk legalized crypto-related activities for its residents. Registering an entity in the special economic zone was supposed to be a straightforward process, but clearer guidelines and detailed regulations are still needed to attract more investors. Also read: Huobi…

  • US Excludes Iran’s Central Bank from the Global Financial System

    US Excludes Iran’s Central Bank from the Global Financial System

    The Central Bank of Iran has been cut off from the global monetary system, after the Swift banking network bowed to U.S. pressure. The move leaves Iran’s 81 million citizens financially excluded and facing serious economic consequences, amidst renewed U.S. sanctions. America’s coercion of Swift attests to the stranglehold the nation exerts on the world…