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Indian bitcoin companies launch blockchain and virtual currency association

February 13th, 2017 by

Bitcoin companies in India namely Zebpay, Unocoin, Coinsecure and Searchtrade have formed Blockchain and Virtual currency Association of India (BVAI) in order to engage with the regulators. The formation of BVAI follows the recent notice by the country’s central bank, The Reserve Bank of India (RBI), cautioning users when engaging in bitcoin-related activities. The startups […]

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Venezuelan bitcoin exchange Surbitcoin halts operations

February 6th, 2017 by

Venezuelan bitcoin exchange Surbitcoin is no longer trading locally after its Banesco, the exchange’s main bank partner, suddenly suspended withdrawal and deposit services. In a statement, the exchange said it would be forced to cease operations for at least two weeks while it “establishes a new business structure with new improvements and security measures.” Surbitcoin […]

Polish regulator recognizes bitcoin firms

February 6th, 2017 by

Poland’s Central Statistical Office (GUS) has recognized the trading and mining of virtual currencies. This means that those companies who use virtual currencies with their business are now able to register with the GUS. According to GUS website, companies can do this by applying to obtain an official PKD 64.19.Z. The development marks a significant […]

Wall Street Blockchain Alliance launches new Blockchain Assets Working Group

February 3rd, 2017 by

The Wall Street Blockchain Alliance (WSBA) has set up a new working group – the Blockchain Assets Working Group (BAWG). The Blockchain Assets Working Group is chaired by Chris Burniske, Blockchain Products Lead at ARK Investment Management, and will explore a number of facets of this emerging asset class, including underlying technologies, development teams, economics, […]

Indian Central cautions against use of bitcoin

February 3rd, 2017 by

The Reserve Bank of India (RBI) – once again – said it has not given any licence or authorisation to any entity or company to operate such schemes or deal with bitcoin or any virtual currency. “The Reserve Bank of India advises that it has not given any licence / authorization to any entity / […]

Central Bank of the United Arab Emirates clarifies bitcoin ban

February 2nd, 2017 by

The Central Bank of the United Arab Emirates has clarified regulations released on January 1, 2017, stating they do not outlaw virtual currencies such as bitcoin. New comments suggest that, at least for now, the central bank isn’t taking any action on bitcoin or other digital currencies. “These regulations do not cover ‘virtual currency’ which […]

Czech Republic to regulate bitcoin

February 2nd, 2017 by

The Czech Republic Finance Ministry has introduced a law restricting bitcoin. An anti-money laundering law prepared by the Ministry requires virtual currency exchanges to determine the identity of customers. Bitcoin users will no longer be able to “hide behind fake names or nicknames.” The law has been endorsed by the House and now heads to […]

BitPesa closes $2.5 million funding round

February 1st, 2017 by

Kenya-based bitcoin payments startup BitPesa has raised $2.5 million in a new Series A round led by Draper VC, and drawing support from Greycroft Partners, Blockchain Capital, BnkToTheFuture, Digital Currency Group, Pantera Capital Future\Perfect Ventures and Zephyr Acorn. BitPesa CEO Elizabeth Rosielleo revealed that the funds will be used to focus on customer acquisition and […]

European Commission considering transaction limits on virtual currencies

February 1st, 2017 by

The European Commission has released an Inception Impact Assessment [PDF] considering a limit on cash transactions in a move that may also affect virtual currency payments. According to an impact assessment published by the Commission, the aim of the proposal is to curtail payments in cash, which critics say promotes anonymity when transacting. Any restrictions, […]

Procivis launches blockchain e-government platform

January 31st, 2017 by

Swiss blockchain startup Procivis announced its proof of concept for a blockchain-backed e-government platform. Describing it as an “e-government as a service platform,” the Procivis platform is designed to “enable the digitization of societies and the provision of online public services across the globe.” E-government services are a promising example how blockchain technology can be […]

Cisco, Bosch and others create an IoT blockchain consortium

January 31st, 2017 by

Bosch, Cisco, BNY Mellon and other innovative Fortune 500 companies has decided to unite efforts to adopt the blockchain to Internet of Things applications. The formation of the consortium follows the December meeting that saw representatives from a group of industry-leading startups and discussed the challenges facing blockchain and IoT applications and the potential for […]