In a positive move for the cryptocurrency market, Taiwan has announced that it won’t be banning digital currencies like bitcoin. News of what Taiwan intends to do avoids the harsher steps taken by China and, more recently, South Korea. Instead, Taiwan is copying the move by Japan by embracing the digital currency market. The news …
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Ripple’s CEO has said that there are too many people using blockchain as ‘a buzzword,’ who aren’t developing real world use cases. During a Q&A session on Quora, Brad Garlinghouse, Ripple CEO, said: “Blockchain is like the new big data or AI – too many people are using it as a buzzword and not focused [on] …
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European banks are interested in cryptocurrencies like bitcoin, but they don’t believe the currency is likely to become accepted, according to the chairman of UBS. The head of the Swiss global financial services said that bitcoin’s use to banks is limited. This was due to its volatility and lack of control over its supply. Speaking …
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The head of the International Monetary Fund (IMF) has said cryptocurrencies may eventually give traditional banking systems ‘a run for their money.’ Speaking at a Bank of England conference at the end of September, Christine Lagarde, the managing director of the IMF, said that ‘it may not be wise to dismiss virtual currencies.’ She added, however, …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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