Crunch Time for Crypto in Kenya as Legal Status Deadline Looms
Kenya’s Treasury Secretary Henry Rotich reportedly has two weeks to make a decision regarding cryptocurrencies’ future as legal tender, according to Coingape. Since 2015, the status of digital currencies in the African nation has been tenuous, with both the central bank and the government taking a prohibitive stance, the latter sending circulars to banks to warn […]
25-Cent Crypto Sold for $6M in Bitcoin on Binance, Prompting Suspension, Policy Changes
A single Syscoin, worth about USD 0.25, was inadvertently sold for BTC 96 (USD 6.3 million) on Binance on 3 July 2018. This unusual trading activity prompted a temporary suspension of the entire exchange. When trading resumed, new policies were announced by Binance, including a Secure Asset Fund for Users (SAFU) that will compensate customers […]
Malta Passes New Laws to Claim World’s First Nation with Crypto Certainty
Malta has officially passed three bills into law to legalize cryptocurrency businesses in the country, claiming to make it the world’s first nation to provide legal certainty to the cryptocurrency field, according to Bitcoinist. The bills passed their fourth and final reading on 4 July and as Bitcoin News reported recently, the bills are aimed at […]
Philippines Fast Becoming Asia’s Blockchain Hotspot and Testing Ground
Global business head of ConsenSys in Asia, Aiai Garcia, sees the Philippines as the next tech hotspot in Asia and a home for future blockchain sandboxes, writes Cryptovest. Blockchain is a fast-growing industry in the south-east Asian country with a regulator-friendly background and the Philippines has long been a magnet to foreign investment, as illustrated […]
In Bitcoin We Trust, All Others Pay Cash: Another Bitcoin FUD Myth Disclaimed
In January of this year, a prominent study revealed that less than 1% of Bitcoin transactions was used for illicit activities, disproving one of the many myths surrounding Bitcoin’s prominence in illegal use, writes Bitcoinist. Yaya Fanusie, director of analysis for the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance (CSIF), conducted the […]
India’s Exchanges Adapt Around Central Bank Crypto Business Ban
Despite the Indian Supreme Court’s decision not grant interim relief to those affected by the Reserve Bank of India’s (RBI) ban on banks’ dealings with crypto-related businesses, some exchanges are operating as normal, according to Coindesk. RBI’s circular, directing all banks to end existing relationships with crypto exchanges and traders within three months, was due […]
40% of UK’s Latest Regulatory Sandbox Companies Blockchain, Crypto Related
Out of the 29 firms released by the UK Financial Conduct Authority (FCA) this week to the fourth cohort of the regulatory sandbox, ten are blockchain and crypto asset firms, according to the EconoTimes. The FCA’s regulatory sandbox was created so that prospective companies would be able to test innovations and services in a live, […]
UK MP Says Government Needs to “Unlock Blockchain” to Increase Efficiency
A British Conservative Party Member of Parliament (MP) has released his report, ‘Unlocking Blockchain’, which advocates a public-facing chief blockchain officer to oversee the UK’s blockchain strategy, according to City AM. MP Eddie Hughes made recommendations in his report urging Theresa May’s government to focus more readily on blockchain technologies, citing social freedom, increasing efficiency and […]
Japan to Upgrade Crypto and Exchange Legislation
In a recent report, local Japanese media outlet Sankei has indicated that the Japanese Financial Services Agency (FSA) is to change the legal foundations on which cryptocurrency regulations are based in the country. Classification switch The report made on 3 July states that the Japanese financial watchdog is considering to regulate cryptocurrency exchanges under the Financial Instruments […]
Ethereum Transaction Fees Hit $5 Record High as Network Clogs
Ethereum average transaction fees reached a record high of USD 5.53 on 2 July 2018, beating the previous record of USD 4.15 on 10 January 2018, far higher than the transaction fees between USD 1 and USD 2 during the CryptoKitties craze in December 2017 which caused a major backlog on the Ethereum network. The […]
