Archive | January, 2016

Belgian government aims to combat bitcoin money laundering

January 29th, 2016 by

The Belgian government is setting plans in motion to target money laundering actions in Bitcoin. The tax authorities have started investigating fraud cases involving bitcoin. “More and more ordinary shops including restaurants, retailers and even car salesmen accept bitcoin. In October last year the European Court of Justice ruled also that no VAT is payable […]

France and Germany propose stricter bitcoin regulation

January 29th, 2016 by

Eurozone member states including Germany and France proposed a set of financial measures to the European Commission, to urge the control of bank accounts and digital currencies. Germany and France are pushing the EU Council for an “improved regulation and control” of anonymous payment products such as prepaid cards and virtual payment systems, particularly Bitcoin […]

Europol: No evidence of Islamic State using bitcoin

January 28th, 2016 by

Europol has found that there is no evidence that suggest Bitcoin is used by Islamic State (IS) for terrorism financing. The Europol report is the product of a review held by EU member states and Europol in the wake of the 13th November Paris attacks. Included was the finding that there have been no recent […]

UBS donates blockchain code to HEAL Alliance

January 28th, 2016 by

UBS announced it has donated the code for a blockchain-based trading platform to the HEAL Alliance. The code, which was developed in the UBS Innovation Lab in London, is currently been used by fintech startup Finclusion Systems to develop a blockchain platform to issue social impact bonds. The platform is aimed at allowing the HEAL […]

European Union will not regulate bitcoin

January 27th, 2016 by

The European Union has announced that they are not interested in regulating digital currencies such as bitcoin just yet. Citing that the virtual currency market was “hyped,” the regulatory body said that there’s just not enough known about the currencies to actually form specific regulation to curb issues that have arisen, such as money laundering. […]

DTCC calls for financial sector collaboration to adopt blockchain technology

January 27th, 2016 by

The Depository Trust & Clearing Corporation (DTCC) has released a white paper that calls for a coordinated effort among the financial industry to realize a “once-in-a-generation opportunity” to modernize and empower its infrastructure with blockchain innovation, the technology that powers the cryptocurrency Bitcoin. “The industry has a once-in-a-generation opportunity to reimagine and modernize its infrastructure […]

Lithuania Financial Crime Investigation Service warns public about Bitcoin

January 26th, 2016 by

Lithuania Financial Crime Investigation Service (FNTT) Director Kestutis Jucevicius announced to the public that digital currency Bitcoin should be used with caution as it is used to finance “terrorism.” “In the future can cause a lot of problems, because the money purified system through bitcoin can benefit not only organized groups engaged in arms trafficking, […]

Wyoming legislators drafts bitcoin bill

January 26th, 2016 by

A group of Wyoming legislators has introduced a bill that would change the way the state treats cryptocurrencies, such as Bitcoin. HB0026, introduced on 20th January, seeks to add a definition for digital currencies to a list of “permissive investments”, or assets like cash or securities that must be held by a money services business […]

Gatecoin is integrating with an international bank in Africa

January 25th, 2016 by

Gatecoin announced it is currently integrating with an international bank in Africa to allow it to provide bitcoin brokerage and blockchain remittance services in several African countries. According to Gatecoin co-founder and CEO Aurélien Menant, the solution will be deployed around March or April. Menant also said that his company was also in “advanced discussions” […]

New Hampshire House of Representatives kill bitcoin tax bill

January 25th, 2016 by

New Hampshire Bitcoin Tax bill HB552 has been defeated in a vote held at the New Hampshire House of Representatives. The New Hampshire House of Representatives voted 264 to 74 to kill the bill on 20th January – a move that came just over a year after the measure was first introduced. The bill was […]