In what could be seen as a first of its kind proposal by a world leader, Russian Prime Minister Dmitry Medvedev has gone on record suggesting that there should be a cross-country regulatory framework for cryptocurrencies.
Apparently, PM Medvedev subscribes to the view that virtual currency regulations should not be country-specific. Instead, he wants the Eurasian Economic Union (EAEU) member states to cooperate and coordinate to bring forth a unified policy, according to a new report by Russian business journal Vedomosti.
Medvedev seems particularly keen on forming an alliance with the rest of the EAEU members including Belarus, Armenia, Kyrgyzstan, and Kazakhstan to regulate cryptocurrencies. This was evident from his speech at a conference called “Digital Agenda in the Age of Globalization” held on Feb 2 in Almaty, Kazakhstan.
Continue reading Russian Prime Minister Roots For International Collaboration For Cryptocurrency Regulation
The European Union (EU) seems keen on not missing out on the blockchain party.
European Commission (EC), the politically independent executive unit of EU, has launched a new body called the EU Blockchain Observatory and Forum (BOF) to consolidate and build on promising blockchain initiatives within EU member states.
BOF is essentially a pilot project backed by the European Parliament. It was proposed by Jakob von Weizsacker, the same Member of the European Parliament who drafted a recent, highly-cited report on cryptocurrencies.
Continue reading EU Aims To Lead The Path By Launching Blockchain Observatory and Forum
The London Football Exchange (LFE) has announced its intention to launch a cryptocurrency entirely centered around soccer. The vision is to create a global community linking everyone with an interest in soccer – both business and personal.
“Democratising Football Through The Blockchain”, reads the headline on the official site. “The London Football Exchange is a global movement to create the ultimate sports community where fans partake in exclusive club and fan experiences,” as explained on the website.
Continue reading London Football Exchange Announces Flagship Soccer Cryptocurrency
Bitflyer and Yamada Denki will be working hand-in-hand as the largest consumer electronics franchise in Japan tests the water for bitcoin payments.
Having launched in the US in November 2017, Bitflyer is one of the leading Japanese digital currency exchanges. It is also the fourth-largest trading platform, making it a high-profile partnership for the electronics retail giant.
Continue reading Japan’s Yamada Denki Joins Forces with Bitflyer for Bitcoin Payments Trial
Russia on Thursday announced that it will soon introduce a new legislation to regulate cryptocurrencies. A statement released by the Finance Ministry earlier on the same day emphasised on the need to control the production and distribution of digital currencies without fully banning them.
Apparently, the government is also keen on avoiding any scenario wherein digital currencies such as Bitcoin and Ethereum emerge an alternative to the Russian ruble.
Continue reading Russia Reconsiders Stand On Cryptocurrencies, Aims For A Middle Ground Between A Ban And Free Run
If the trends in the crypto economy over the past few years have taught us anything about real life use of virtual currencies, it’s that bitcoin is extremely unlikely to evolve into a universal communal ledger like many early proponents had claimed.
But to say that it is useless as a mode of payment is also as inaccurate as it can get.
Continue reading How Bitcoin Is Slowly Evolving as a Payment Method
In another moment of noted reaction in the world of the crypto-craze, the advocates of cryptocurrency have expressed fear upon the announcement of possible crypto regulation by Angela Merkel, German Chancellor and her counterpart, Emmanuel Macron, President of France.
The pair met January 19 2018, to discuss what many governments are coming to view as an unavoidably thorny issue. The decentralized nature of Bitcoin and other cryptocurrencies, especially when coupled with the inherent volatility of market sentiment and potentially delusional public enthusiasm for crypto, has finally made it to the agenda of world leaders.
Continue reading More Turmoil for Bitcoin As Merkel and Macron Propose Regulation
On January 9, 2018, Tom Lee spoke optimistically of Bitcoin in an interview with CNBC, expressing his opinion that the digital currency could “easily double” in value over the course of the year.
At the time of the interview, Bitcoin was down 25 percent since its highest point near $19,800 in December 2017. It has since dropped a further 25 percent, reaching a low under $10,000. The price of Bitcoin has since recovered reasonably and is trading at $11,680 at the time of writing.
Continue reading Wall Street Strategist Tom Lee “Aggressive Buyer” during Bitcoin Major Low
If you’re a crypto investor currently residing in South Korea, the past few days must have been quite a turmoil. Especially after the senior minister in the federal government went on record saying that an outright ban approach on cryptocurrency trading was still very much a “live option.”
Expectedly, the minister’s comment created panic among a sizeable chunk of the investor community who then went on selling off their crypto holdings in anticipation of an imminent crackdown. However, now it turns it out that the panic was probably more of an overreaction as the government has since virtually ruled out an outright ban in the immediate future.
The South Korean Office for Government Policy Coordination issued a statement on Monday hinting that the crackdown on crypto assets won’t necessarily come imminently.
Continue reading South Korea’s Government Switches To A Softer Stand On Cryptocurrency Ban
Vladimir Putin has shaken up the status quo with a unique and undoubtedly brilliant take on things, in this case, the cryptocurrency market.
The president of the Russian Federation has proposed nothing less than a multinational cryptocurrency, with the express purpose of forging a connection between the world’s emerging economies.
Continue reading What Will Be the Impact of Putin’s Proposed Multinational Cryptocurrency?