Tag: regulation

Ukrainian parliament considers separate law for mining

The government of Ukraine has been steadily working on regulation of cryptocurrencies and mining for several months now. Lawmakers have criticized recent confiscations of mining equipment by the police, who claim that the mined coins were used to finance pro-Russian separatist forces. A new proposal calls for mining to be regulated separately. Separate mining and cryptocurrencies Olexandr Danchenko, head of the Committee for Informatization and Communications in the Rada, called mining “just a calculation” and proposed to separate mining from general cryptocurrency refulation. “Ukraine’s share of the global cryptocurrency mining market has shrunk to just 3%. [We need to]...

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Anonymous cryptocurrency trading ends in South Korea

Even though the South Korean cryptocurrency trading ban did not pan out. Instead, we got a new set of rules, which require anyone depositing money in exchanges to use their real names. New users are now required to open a bank account under their name and deposit money strictly from there. Meanwhile, the community breathed a collective sigh of relief – it seems the option of a full-scale ban is no longer on the table. Accounts using real names The new rules entered into force yesterday. Anyone depositing money into a crypto exchange will have to pass an identification procedure....

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Market correction: South Korea ban still on the table

All cryptocurrencies have been sliding down after news that South Korean Finance minister said banning trading in digital currencies is a “live option.” In an interview with local radio station TBS, the minister stated that the government is considering forcing people to use their real names when trading and that the ministry is looking for a mechanism to tax crypto trading. According to him, closing exchanges is still on the table, but government ministries need to “very seriously review it”. Bitcoin is currently trading at $11,675.3 and Ethereum at $1,031.23 according to Coinmarketcap. This represents a 24h fall of 15%...

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Infographics: countries which have banned Bitcoin

Bitcoin and other cryptocurrencies are polarizing phenomena. Economists and governments disagree on how to handle them. While countries such as Japan and Belarus want to take advantage of the new technology, other countries simply prefer to ban it. Today, we present you with an infographic of countries that have banned Bitcoin. We want to start by explaining our methodology. Although many countries, organizations, and important individuals are strongly opposed to cryptocurrency, relatively few of them have decided to take specific legal steps. We’ve therefore chosen countries that have introduced specific legal sanctions for the use of Bitcoin and other...

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G20 to discuss bitcoin at upcoming summit

French Finance Minister Bruno Le Maire is pushing for a discussion on Bitcoin regulation at the G20 summit in April 2018. Reuters reports that the minister will ask G20 president Argentina to put Bitcoin on the agenda. Le Maire explained his initiative: “I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin. There is evidently a risk of speculation. We need to consider and examine this and see how … with all the other G20 members we can regulate bitcoin.”...

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