Month: May 2019

31 May, 2019

Brazil Establishes Committee for Cryptocurrency Regulation

The President of the Chamber of Deputies of Brazil has ordered to establish a commission to consider cryptocurrency regulation in the country, Cointelegraph Brasil reported on May 31. The Chamber of Deputies of Brazil is a federal legislative body and the lower house of the National Congress of Brazil, and consists of representatives of the […]
31 May, 2019

The Copyright for the Satoshi White Paper is Already Causing Trouble

Craig Wright’s copyright registration of the original bitcoin white paper is starting to create ripple effects. On May 28 Scribd, a service for posting downloadable documents on the Internet, notified CoinDesk that it had pulled down our copy of the Satoshi Nakamoto white paper. “This is a notification that Scribd’s BookID copyright protection system has […]
31 May, 2019

SEC’s Hinman Says Some ICOs May Be Eligible for ‘No-Action’ Relief

Startups that conducted initial coin offerings (ICO) years ago may be eligible for relief from potential enforcement actions by the U.S. Securities and Exchange Commission, an agency official said Friday. For the last year and a half, the regulator has been filing cases against projects that raised money by selling tokens without registering them as […]
31 May, 2019

Coinbase President Steps Down, Emilie Choi Named as Replacement

Coinbase president and chief operating officer Asiff Hirji is leaving the cryptocurrency exchange, the company confirmed Friday. Hirji joined the crypto unicorn in December 2017, joining after a stint at venture capital firm Andreessen Horowitz. “We’re incredibly grateful for Asiff’s contributions over the past 18 months,” Brian Armstrong, co-founder and CEO of Coinbase, said in […]
31 May, 2019

Japan Hardens Rules for Cryptocurrency Storage and Trading

Japan has officially revised its laws to provide more clarity – and tighter controls – over cryptocurrency. The legislation amending the Payment Services Act and Financial Instruments and Exchange Act was formally enacted on May 31 and will take effect in April of next year. Among the notable changes, the act does away with the definition […]
31 May, 2019

Bitcoin Shines Amid Wall Street Losses

Bitcoin decoupled from traditional markets in May, rising more than $3,000. The cryptocurrency, currently at $8,300 on Bitstamp, is set to end higher for the fourth straight month with 60 percent gains. That is the longest monthly winning streak and the biggest monthly gain since August 2017. Notably, the leading cryptocurrency by market value has […]
31 May, 2019

Op Ed: Bitcoin in Africa, What Needs to Be Done to Encourage Adoption?

Bitcoin has the potential to revolutionize the African continent. Through Bitcoin, millions of unbanked Africans will have access to financial services. These and many more such statements exist across the internet. All these statements are true. But, despite all the benefits that Bitcoin is expected to bring to African countries, adoption levels in Africa continue […]
31 May, 2019

Australian Government Publishes Update on Cryptocurrency and ICO Rules

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs). In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act. This update is noteworthy as the country continues […]
31 May, 2019

Man Sentenced for Illegal Money Transmission Services on LocalBitcoins

U.S. citizen Morgan Rockcoons has been sentenced to fines and prison time for running unlicensed money exchange services on LocalBitcoins. Advertising himself on the peer-to-peer bitcoin trading network, Rockcoons made more than 1,000 transactions with hundreds of different users. The U.S. Department of Justice (DoJ) pursued him on charges of not registering his business with […]
31 May, 2019

Ernst & Young Exec: Most Ethereum Decentralized Apps Not Used Productively

The head of innovation at Big Four audit firm Ernst & Young argued that blockchain disruptors should “go back to first principles.” 83% of decentralized applications (DApps) on the Ethereum network are “not in the most productive uses,” according to Ernst & Young’s (EY) head of innovation. Paul Brody, Global Innovation Leader for blockchain at […]