Central Bank

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China’s PBOC Governor Speaks Against Speculative Cryptocurrencies

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This week the People’s Bank of China (PBOC) governor, Zhou Xiaochuan, spoke about both public and privately issued cryptocurrencies. Zhou details that the central bank dislikes “speculative cryptocurrency products” and the bank does not officially recognize digital currencies like bitcoin. Further Zhou explains the bank is monitoring projects like bitcoin and initial coin offerings (ICO), … Read more

Thailand Dodges Extreme Cryptocurrency Regulations

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The Thai Deputy Prime Minister has mandated that the law on cryptocurrencies and initial coin offerings be finalized within a month. The regulators have met and agreed that there is no need to invoke the country’s controversial Section 44 law but to introduce a “special law” for them instead. Also read: Japan’s DMM Bitcoin Exchange Opens … Read more

Ex-Trump Chief Strategist Bannon: Cryptocurrencies Make Central Banks Redundant

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Bitcoin has always been considered by its staunch supporters a tool to bring about personal financial freedom from government control and censorship as well as taxation via inflation. As such, most political players shun the cryptocurrency when they are in power as it threatens their position. Once out of power they are freer to appreciate … Read more

Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’

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Venezuela has chosen a platform on which to auction its “oil-backed cryptocurrency”, the petro. While the country’s National Assembly has repeatedly declared this new currency illegal, the Venezuelan government will proceed with the auction of the petro on the country’s official foreign exchange platform. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more

Russia Drafts Law to Criminalize the Use of Cryptocurrencies as Money

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The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes. The Bank of Russia and the finance ministry have previously opposed the use of cryptocurrency in this way, citing that only rubles can be used for payments of goods and services in Russia. Also read: Indians Look to … Read more

Ecuador’s Cryptocurrency ATM Industry Won’t Grow Anytime Soon

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Ecuador is a very interesting country when it comes to cryptocurrencies. Although the national government does not favor this innovative form of money, local entrepreneurs are ignoring its warnings whenever possible. In fact, there are now cryptocurrency ATMs in Ecuador, which is a pretty big development for the industry as a whole. Bitcoin Continues to Thrive in Ecuador No one … Read more

New Malaysian Cryptocurrency Regulation Come Into Effect

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Last week, Malaysia’s new Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) policy guidelines specifically addressing cryptocurrencies came into effect. The new regulations compel Malaysian virtual currency exchanges to mandate KYC adherence, including the collection of ID documentation. Also Read: Two Indian Token Marketplaces Suspend Trading Due to Regulatory Pressure New Malaysian AML/CFT Guidelines for Cryptocurrencies … Read more