There seems to be a race for the first central bank digital currency (CBDC) led by China and Japan does not want to fall behind. Even though China had been trying to crack down on crypto speculation, more details on its classified digital yuan project had started to surface, according
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On January 29th, BCB Group, a European crypto-focused payment processor for major crypto firms, had announced that it had secured a license from the United Kingdom’s Financial Conduct Authority (FCA). The firm’s core subsidiary BCB Payments is now an Authorized Payment Institution (API), and it’s regulated in both the UK
Her Majesty’s Revenue & Customs had posted an open contract worth 100,000 pounds on January 17th, inviting contractors to provide a tech tool that will help the British tax agency to combat cybercrime and tax evasion using cryptocurrencies. Back in November, the HMRC had updated the cryptocurrency taxation guidelines and
Rumors surrounding a central bank digital currency (CBDC) in China increased again, once China’s law for cryptographic password management came into power at the beginning of January 2020. Even though China issued warning on crypto speculation in Q4 2019, media outlets continue to spread the idea that the PBoC could
Based on the information available right now, Facebook’s Libra project should be launched in June 2020, but as David Marcus, the man in charge of the project, claimed, the date could be postponed until all regulatory hurdles will be settled. According to a recent Reuters report, it seems like the
Things can easily take a 180-degree turn in the cryptocurrency market and that’s what happened yesterday, when the cryptocurrency market started to rebound impulsively higher, erasing all the weekly losses. If for the past few days cryptocurrencies had dropped mainly due to a Chainalysis report, now we have more upbeat
On December 10th, the U.S. Department of Justice announced that BitClub Network was actually a $722 million-worth crypto scheme and just recently, authorities in New Jersey had arrested three men who are assumed to be important figures from the company, according to Cointelegraph. If Chinese Authorities announced inspections for crypto
The scrutiny surrounding the Facebook Libra project is not over yet, and proposed regulation for stablecoins might represent another important roadblock for the company. On October 28th we’ve talked about the “Stablecoins Are Securities Act of 2019”, a piece of legislation proposed on a bipartisan way that will place some
Even though most of the attention is focused on China and some of its activities to crack on cryptocurrencies, it seems like Switzerland is another country currently asking for better regulation when it comes to blockchain. The Federal Council of Switzerland, which acts as the main executive governing body, made
As time passes the idea of central bank digital currency (CBDC) continues to gain traction and the United States Federal Reserve is among the public institutions exploring this new concept. Just recently we’ve seen how the US major bank JP Morgan, in partnership with Singapore’s MAS, revealed a new blockchain
