Archive | October, 2015

Poland’s Ministry of Finance: EU should create bitcoin regulation

October 19th, 2015 by

In a written response to a request for information filed by two Polish Members of Parliament (MPs), Jan Warzecha and Bogdan Rzońca, Poland’s Ministry of Finance said regulating bitcoin should form “part of initiatives at the EU level, due to the transborder character of cryptocurrency transactions”. In their request for information, the MPs said “piracy, […]

UK’s economic and finance ministry highlights benefits of blockchain

October 19th, 2015 by

Uk’s economic and finance ministry secretary Harriet Baldwin MP has spoken about the benefits of digital currencies and blockchain technology during her speech in London. Baldwin said the government is working to create the right regime for digital currency businesses and to attract both overseas investors and companies to the UK. “The potential to facilitate […]

NYSDFS approves the launch of Gemini bitcoin exchange

October 8th, 2015 by

The Winklevoss Twins announced the launch of their long-awaited Bitcoin exchange, Gemini, with the approval from the New York State Department of Financial Services to begin serving US customers in 26 states as well as Washington, DC. “[W]e take licensing and compliance very seriously and think that asking for permission, rather than forgiveness is the […]

Commonwealth central bankers set to discuss bitcoin’s role in global remittances

October 8th, 2015 by

Commonwealth central bankers and senior finance officials are set to discuss bitcoin and digital currencies within the context of global remittances. Comprised of 53 member-states, the Commonwealth is among a growing number of intergovernmental bodies to conduct work on digital currency issues. Bangladesh Central Bank governor Aitur Rahman is set to chair the meeting, according […]

National Bank of Ukraine warns banks about bitcoin

October 8th, 2015 by

The National Bank of Ukraine warned regional banks and executives of the certain risks using virtual currency. This news also comes after the National Bank of Ukraine invited PayPal, Apple Pay, and Google Wallet to their regional markets. When regulators had said they would facilitate the tech giants into the Ukrainian payment system, they also […]

Uniform Law Commission releases Regulation of Virtual Currencies Act

October 8th, 2015 by

The Uniform Law Commission (ULC) released the Regulation of Virtual Currencies Act, to serve as a “discussion only” draft for the committee’s upcoming meeting on 9 Oct. The ULC is working on virtual currencies, defined “as a form of electronic value, the value of which depends on the market. It is not backed by government […]

CFTC: Tera Exchange failed to enforce prohibitions against circular trading schemes

October 5th, 2015 by

The US Commodity Futures Trading Commission (CFTC) has charged Tera Exchange for failing to enforce prohibitions against circular trading schemes. According to the CFTC, wash trading and prearranged trading were conducted between counterparties on its platform without intervention. Both trades are illegal in CFTC-regulated venues and elsewhere, and are prohibited according to Tera’s own rulebook. […]

Russia’s Central Bank Director: 5 Russian banks undergone DDoS-attack

October 5th, 2015 by

Artyom Sychev, Deputy Director of the General Directorate of Security and Information Protection of Russia’s Central Bank said five banks in Russia have undergone a DDoS-attack. The regulator had warned banks in advance about the cyber-attack planned for September26. “Last Saturday monitoring channels received information that, obviously, several major financial institutions will be attacked. We […]

ABN Amro exec wants to stay away from bitcoin

October 5th, 2015 by

Arjan van Os, the head of ABN Amro‘s innovation centre said the Dutch state-owned bank wants to stay away from bitcoin, but is interested in blockchain technology. van Os cited the bitcoin’s associations with drug trafficking and illicit activities as the reason behind the bank’s decision to distance itself from the digital currency. “We want […]

13 more banks joined R3 to build blockchain to the mainstream financial sector

October 5th, 2015 by

R3 announced that 13 more of the world’s leading banks have also joined the partnership. “The addition of this new group of banks demonstrates widespread support for innovative distributed ledger solutions across the global financial services community, and we’re delighted to have them on board,” said David Rutter, CEO of R3. The new banks are […]