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Saudi Arabia and the United Arab Emirates have unveiled the first of its kind pilot cryptocurrency cross border initiative. This new project is part of the Saudi-Emirati Coordination Council. And there is no doubt that this will also boost investor confidence in cryptocurrencies. The official statement says that the pilot cryptocurrency project focuses on cross […]
Bitfury, the firm that had made a foothold in Bitcoin mining, has ventured into the music industry with its own open-source platform, Bitfury Surround. The Chief Executive Officer of Bitfury, Valery Vavilov said the music entertainment industry has evolved into a complex, competitive and technologically-driven environment. Vavilov said they want to incentivize the growth of […]
The South African Reserve Bank (SARB) has implemented ‘light regulation’ for cryptocurrency. As per the new laws, cryptocurrency asset trading platforms, custodial service provider and payment service providers have to register with the Intergovernmental Fintech Working Group (IGFWG) which is formed by members of the Treasury and SARB. The newly imposed regulation is in line […]
The Stock Exchange of Thailand (SET) has eyed the digital asset operating licence to open a new digital asset exchange. Pattera Dilokrungthirapop, the vice chair of SET’s board of governor’s said they will be applying for the licence through the Finance Ministry. Dilokrungthirapop said the new exchange will be part and parcel of Thailand’s acceptance […]
The state of Wyoming in the Unites States of America has passed a new bill that now classifies cryptocurrencies as money. The new bill has broken down cryptocurrency into three categories, digital securities, digital assets and virtual currencies. Experts say the classification had been long due and has set the cryptocurrencies rolling forward. The Bill […]
The Organization for Economic Cooperation and Development (OECD) has called for greater clarity in the regulatory and supervisory frameworks applied to initial coin offerings (ICOs). In its latest report OECD (2019) Initial Coin Offerings (ICOs) for SME Financing, the world body stated that the ICOs must be allowed to deliver its potential for the financing […]
The Russian Deputy Finance Minister Alexei Moiseev says you can use crypto cards to pay for goods and services. Moiseev told the local media that the transactions are legal as the businesses receive money in Russian rubles. The minister highlighted an incident whereby a person was prosecuted for paying his cafe bill with a crypto […]
Huobi, the Singapore-based cryptocurrency exchange group is ready to make a comeback into Japan, this time with a full Financial Services Agency (FSA) License. This came about after its merger with BitTrade. Leon Li, the Huobi Group Founder and CEO described their re-entry into the Japanese market as a milestone. Li acknowledged Japan as an […]
International banking giant, HSBC is the latest to be sucked into the blockchain vortex. HSBC revealed that it has made over three million forex trades in 2018 with about 150,000 payments via FX Everywhere, its proprietary blockchain. Richard Bibbey, the acting head of currencies at HSBC said the bank conducted thousands of foreign exchange transactions […]
The Distributed Technologies Research (DTR), non-profit foundation, has launched a globally scalable decentralized payments network, known as ‘Unit-e’. Babak Dastmaltschi, Chairman of the DTR Foundation Council said advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. Dastmaltschi said blockchain and digital currency markets are at an interesting crossroads. “We are […]
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