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Bank of Russia: We are not going to ban bitcoin – yet

January 17th, 2017 by

Bank of Russia deputy chairman Olga Skorobogatov said that the central bank is not going to prohibit the use of digital currencies such as bitcoin in the country. “Since bitcoin is a private currency, it turns out that not everything is as simple and brilliant there as they claim in books and magazines. The regulator’s […]

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DTCC partners with IBM, Axoni and R3 to clear derivatives with blockchain

January 10th, 2017 by

The Depository Trust & Clearing Corporation (DTCC), the central bookkeeper for Wall Street’s securities trades, announced that it has selected IBM, Axoni and R3 to create a blockchain framework to improve the derivatives post-trade lifecycle. The firms will work collaboratively to re-platform DTCC’s Trade Information Warehouse, working collaboratively to build a derivatives distributed ledger solution […]

Securities Exchange Commission delays decision on SolidX Bitcoin Trust

January 10th, 2017 by

The U.S. Securities Exchange Commission (SEC) announced that it is delaying its decision whether to approve the listing of SolidX Bitcoin Trust on the NYSE Arca exchange. SolidX first filed a registration statement (Form S-1) with the SEC on July 11, 2016, proposing to launch its SolidX Bitcoin Trust. SolidX Bitcoin Trust will not be […]

The Netherlands’ Public Prosecution Service focusing on bitcoin money laundering

January 9th, 2017 by

The Netherlands’ Public Prosecution Service is looking at three pending cases involving the digital currency bitcoin and money laundering in 2017. The prosecution department, formally known as the Openbaar Ministerie (OM), is the body responsible for determining whether suspected criminals should be referred for prosecution. It is currently legal to trade in bitcoin, which rose […]

China’s central bank urges bitcoin exchanges to ensure regulatory compliance

January 9th, 2017 by

Officials from the People’s Bank of China (PBOC) met with representatives of major bitcoin exchanges Huobi, OKCoin and BTCC to urge their compliance with “relevant laws and regulations. On the evening of Friday, January 6 in China, the PBOC offices in Beijing and Shanghai both issued statements on the meetings, noting that the “recent bitcoin […]

SEC’s decision on Winklevoss bitcoin ETF coming March 11

January 6th, 2017 by

The Securities and Exchange Commission (SEC) on Wednesday designated March 11 as the date by which it would either approve or disapprove the Winklevoss Bitcoin Trust ETF, which would be the first to exclusively track the digital currency. The decision comes roughly eight months after regulators first asked for public comment on the fund, and […]

Jeffrey Berns responds anew to IRS efforts to identify bitcoin users

January 6th, 2017 by

Coinbase customer and attorney Jeffrey Berns filed an answer to the IRS’ response to his motion to intervene and quash a “John Doe” summons served by the IRS on Coinbase to identify bitcoin users. The case began in November of 2016 when the IRS presented Coinbase with a summons requiring the company to disclose client […]

Iranian banker calls for bitcoin adoption

January 5th, 2017 by

The chief executive of Tejrat Bank has called for Iranian banks and payment service providers to prepare the grounds for using bitcoin in the country. The executive has also called for laying the groundwork to embrace and welcome bitcoin and fintech innovations in Iran. Speaking at a meeting on cryptocurrencies, Mohammad Ibrahim Moqaddam noted that […]

Spanish banking group BBVA acquires Mexican fintech startup Openpay

January 4th, 2017 by

BBVA has announced the acquisition of Openpay, a payments fintech startup based in Mexico that enables real-time payments for individuals, small businesses, and large enterprises. According to BBVA, Openpay combines a cutting-edge, real-time platform that allows users to make card, cash and loyalty points payments and banks transfers in a single integration. It also uses […]

Digital currencies are now illegal in Colombia

January 2nd, 2017 by

Superintendencia de Sociedades, the Colombian regulatory agency has announced that bitcoin, and digital currencies in general, are now illegal in Colombia. The announcement was made by the head of Superintendency, Francisco Reyes Villamizar. According to reports, the action was taken to check the increasing growth of so-called investment clubs which are mostly Ponzi schemes. Most […]

EU wants to identify bitcoin users

January 2nd, 2017 by

The European Parliament and the Council of the European Union have proposed the amendment of existing Directive (EU) 2015/849. In order to prevent misuse of virtual currency platforms, the EU proposal requires the existing AML and CFT norms currently applicable for conventional financial machinery to be extended to cryptocurrency exchanges and wallet service providers. If […]