Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.
Government spent $5 million on blockchain espionage: The US government’s obsession with cryptocurrencies and blockchain led to it spending almost USD 5.7 million with blockchain analytics firms so far and is keen to do more.
The revelation was made by a digital currency publication called Diar. Blockchain analytics firms are supposedly paid for Bitcoin espionage, criminal prosecution, taxes and even enforcing crypto regulations. The IRS alone spent USD 2.19 million in the process.
Google announces partial lifting of crypto ads ban: In a major move, Google has announced a partial lifting of the controversial cryptocurrency ads ban on its platform. The ban had been placed earlier this year by the tech company and had only been in force for a few months since June this year.
The recent announcement from Google suggests that cryptocurrency-related ads from registered exchanges will be allowed to air on the Google Adsense network, especially the ones involving US and Japanese companies.
The statement from the company said: “Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October.”
Other tech companies like Facebook have also announced a lifting of cryptocurrency bans placed earlier this year. The announcement is considered positive for the overall crypto community.
US Congressmen and crypto companies discussing legislation: Washington saw a new round of talks between US congressmen and fintech companies in the cryptocurrency genre to devise future regulations for the industry. ICOs remained the primary focus of the meeting.
The industry representatives met with the lawmakers to discuss the points of Congressman Warren Davidson’s bill which could pass through the House of Representatives later this year. Representatives of crypto companies include Andreessen Horowitz, Circle, CME Group, Coin Center, CoinList, Harbor, Intercontinental Exchange, Kraken, Nasdaq, Ripple, Union Square Ventures and other individuals.
There is still growing uncertainty regarding the final shape of the cryptocurrency regulation in the country.
Growth over time may propel SEC to approve ETFs: The Securities and Exchange Commission’s (SEC) attitude towards cryptocurrencies may change over time as the industry grows over time, according to Asjylyn Loder of the Wall Street Journal.
Almost ten ETFs including one from the Winklevoss twins have been rejected by the SEC to date and many more have been deferred over time. However, the mood is likely to change as cryptocurrencies will get to showcase their strengths and adaptability in the near future.
Congressman to introduce pro-crypto bills: Representative Tom Emmer is presenting three bills titled ‘Resolution Supporting Digital Currencies and Blockchain Technology’, the ‘Blockchain Regulatory Certainty Act’, and the ‘Safe Harbor for Taxpayers with Forked Assets Act’, in the House of Representatives.
The congressman is among the pro-crypto voices in the capitol and is working among a group of politicians trying to introduce helpful legislation in the country. Another congressman Warren Davidson had already tabled a bill for sensible cryptocurrency regulation before and is debating the issue with industry professionals.
Canada better prepared for crypto adaptation than US: The head of a registered cryptocurrency investment firm in Canada has said that the country is in fact better prepared for cryptocurrency policy and adaptation than USA.
CEO of First Block Capital Sean Clark has also called for the country to become a blockchain hub in the world and lead the way in its innovation efforts. He cited the positive government attitude, promotion of educational awareness as prime factors in the rapid progress of Canada in the sector.
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