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Japan’s Largest Bank Partners with US Tech Giant for Blockchain Payment Service

Japan's Largest Bank Partners with US Tech Giant for Blockchain Payment Service

The biggest bank in Japan has partnered with a US tech company to design a blockchain capable of handling 1 million transactions per second, boosting speed and reducing transaction feeds through distributed ledger technology. MUFG and Akamai partnership The Mitsubishi UFJ Financial Group (MUFG) partnered with US-based Akamai to deliver a new global payment network service, which is intended to …


Spain Opens Legal Doors for Funds Investing in Crypto

Spain Opens Legal Doors for Funds Investing in Crypto

Spain’s Comisión Nacional del Mercado de Valores (CNMV) or National Securities Market Commission, recently stated that investment funds could interact with Bitcoin. The statement was within a Q&A document for fintech companies, with one of the questions asking if a fund registered by CNMV could directly invest in cryptocurrencies. The answer by the CNMV was: “This type of funds would …


UK ‘Cryptoassets Task Force’ Begins on Positive Note

UK 'Cryptoassets Task Force' Begins on Positive Note

The UK government’s ‘Cryptoassets Task Force’ met for the first time on 21 May as part of the country’s plan to regulate the cryptocurrency and blockchain space, reported Crowdfund Insider. One of the functions of the UK government’s task force will be to examine the risks of blockchain technology and mitigate these while examining the benefits of ledger technology in financial …


Crypto Tax Lifted as Poland Heeds Public Demand

Crypto Tax Lifted as Poland Heeds Public Demand

Poland has reviewed its position on cryptocurrencies in the country, as part of a thorough analysis of the crypto space, announcing that it is to temporarily suspend tax collection for digital currencies, according to Cointelegraph. In a similar move to the French government’s, who recently heavily reduced its taxation on sales of cryptocurrency, Poland’s ministry of finance has been forced …


 2017 Bad Year for Aussie Crypto Scams as US Launches ‘Cryptosweep’

 2017 Bad Year for Aussie Crypto Scams as US Launches 'Cryptosweep'

The Australian Competition and Consumer Commission (ACCC) announced on Monday that consumers lost more than USD 2.1 million to cryptocurrency scams last year, CoinDesk reported. Of this figure, the ACCC reported, consumers lost approximately USD 100,000 per month between January and September of 2017. These losses increased in December to USD 200,000 when Bitcoin price rose to nearly USD 20,000, recording losses …


New EU Privacy Laws Brings Parity’s PICOPs to a Halt

New EU Privacy Laws Brings Parity's PICOPs to a Halt

New General Data Protection Law (GDPR) guidelines have led to the shutdown of the Parity ICO Passport Service (PICOPS). The main conflict is between blockchain’s immutability and GDPR’s right to deletion of data clause. With fines getting as severe as EUR 20 million, it has prompted other cryptocurrency companies to clean up their act as well. Trading platform LocalBitcoins recently …


Thai Focus Group Hearing Clarifies ICO, Crypto Stance

Thai Focus Group Hearing Clarifies ICO, Crypto Stance

The Security and Exchange Commission (SEC) of Thailand made several clarifications on cryptocurrency and blockchain when hosting a focus group meeting on cryptocurrency. Broadcast on 21 May on Facebook Live, the SEC discussed its present and future approaches to crypto-related enterprises and initial coin offerings (ICOs). Clarity in conversation As reported by local news outlet Siam Blockchain, the SEC clarified its …


Bitcoin Predicted to Dominate Future of Online Marketplaces

Bitcoin Predicted To Dominate The Future Of Online Marketplace

Bitcoin is becoming the world’s number one internet currency. This is according to Jack Dorsey, the owner of Square. He says that Bitcoin will emerge with time to become the Internet’s “native currency”, with the increasing popularity of the currency to overrun other internet currencies and become a preferred medium of exchange. Bitcoin’s predicted future dominance Jack Dorsey predicted the …


Nokia Partners with Streamr, OSIsoft to Compensate Customers for Data

Nokia PartneNokia Partners With Streamr, OSIsoft to Compensate Customers for Datars With Streamr and OSIsoft to Compensate Customers for Their Data

A looming partnership between the blockchain data platform Streamr, the giant Finnish-based telecom company Nokia and California software company OSIsoft will allow mobile users to monetize their data and make purchases. Speaking at CoinDesk’s Consensus 2018 Conference, Streamr CEO Henri Pihkala said, “This not only meant to showcase our prowess on the world’s platform but to mark an important day in the …


Chinese Ministry of Industry and IT Anticipates Big Year for Blockchain

Chinese Ministry of Industry and IT Anticipates Big Year for Blockchain

China’s Ministry of Industry and Information Technology (MIIT) released a whitepaper on 20 May 20th detailing the accelerating growth and prospective future of blockchain industries in the country. China has notoriously been a slightly cryptocurrency-friendly environment; stances in the country seem rather juxtaposed. For example, initial coin offerings (ICO) and trading are banned entirely, but the nation still promotes blockchain …


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