Monthly Archives: September 2017

Deputy Finance Minister: Bitcoin Payments Won’t be Legalised in Russia

Bitcoin Payments

Russia’s deputy finance minister has said that pending legislation on digital currencies is likely to include a ban on bitcoin payments. According to state-backed Russian news source TASS, Alexey Moiseev, the deputy finance minister of Russia, said: “No regulator doubts that payments will be banned.” Additionally, he implied that discussions on the regulation of the cryptocurrency… Read more »

Novogratz: Cryptocurrency Market Will be ‘Largest Bubble of Our Lifetimes’


A former hedge fund manager at Fortress Investment Group is, reportedly, looking to create a $500 million hedge fund focusing on cryptocurrency and blockchain. Mike Novogratz, the former manager at Fortress Investment Group, is investing $150 million of his own money. An additional $350 million is expected to be raised by January, 2018, through outside… Read more »

Japan’s FSA Regulator to Monitor Bitcoin Exchanges from October

Bitcoin Exchanges

Japan’s Financial Services Agency (FSA) is to begin monitoring Japanese bitcoin exchanges from October. According to the Japan Times, the move is to ensure that digital currency exchanges have the correct internal systems, such as protecting customer assets, in place. If not, on-site inspections will be carried out. In April, a revised payment services law… Read more »

ViaBTC to Launch Bitcoin Exchange Overseas in Light of Beijing Ban


Chinese bitcoin exchange ViaBTC has announced that it will be launching an overseas platform after Chinese authorities cracked down on digital currency exchanges in the country. On September 25, ViaBTC is expected to suspend its domestic services to customers. As a result, it has urged current investors to withdraw their assets before closing. At a… Read more »

Dimon Faces Market Abuse Report After Bitcoin Fraud Comments


A market abuse report has been filed against JPMorgan’s CEO after ‘spreading false and misleading information’ about bitcoin. The report in question was filed by London-based Blockswater, an algorithmic liquidity provider. It was filed with the Swedish Financial Supervisory Authority against JPMorgan and its CEO Jamie Dimon. According to Blockswater, Dimon violated Article 12 of the European… Read more »

South Africa’s 2nd Largest Grocer Won’t Accept Bitcoin without Regulation


It was believed that South Africa’s second-largest supermarket chain, Pick n Pay, would start accepting bitcoin in one of its stores. However, a fresh report indicates that that is not the case. On the 18th September, payments software development firm Electrum made the announcement. It said that it had enabled Pick n Pay to accept… Read more »

UK Watchdog Warns Bitcoin Investors Could Lose Their ‘Entire Stake’


The U.K.’s financial regulator has issued a warning to bitcoin traders over the frenzy created by initial coin offerings (ICO), some of which are being promoted by celebrities such as Paris Hilton and boxing champion Floyd Mayweather. The Financial Conduct Authority (FCA) has said that traders investing in ICOs should be prepared to lose all of… Read more »

Howard Marks Has a Change of Heart Over Bitcoin, Sees it As a Currency


Billionaire bitcoin critic Howard Marks has reviewed his opinion on bitcoin, admitting it could be a legitimate currency. At the end of July, the founder of Oaktree Capital Management wrote a 22-page memo to clients stating that digital currencies aren’t real. His position on them couldn’t be questioned. This was because he firmly stated they… Read more »

Indian State Intends to Use the Blockchain to Protect Citizen Data


The Indian state of Andhra Pradesh has announced it is working with cybersecurity firm WISeKey to store citizens data on a blockchain securely. Andhra Pradesh, bordering India’s southeastern coast, is the seventh largest state in the country. In an announcement, Swiss-based WISeKey and Andhra Pradesh will explore blockchain technology proof-of-concepts as pilot projects across a variety… Read more »

Australia’s Corporate Regulator: Cryptocurrencies Will Replace Banknotes


Cryptocurrencies will replace bank accounts, changing how Australians pay for things, according to Australia’s corporate regulator. Within the next 10 years, Greg Medcraft, the chairman of the Australian Securities and Investments Commission, predicts that consumers could live without a bank account as cryptocurrencies replace them. He also thinks in the next five to 10 years central… Read more »