Int’l Accounting Standards Body Defines Bitcoin as ‘Intangible Asset’
Cryptocurrencies like Bitcoin are neither financial assets nor legal tender, says the International Financial Reporting Interpretations Committee Go to Source Powered by WPeMatico
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VERDAD is the Most Dangerous Crypto Bill to Face Congress Yet
The U.S. Congress is considering more than 20 bills on cryptocurrency. One deserves special attention: S.1025, the Venezuela Emergency Relief, Democracy Assistance and Development Act (VERDAD). “Verdad” is Spanish for “truth.” If VERDAD passes, it will be the first time a specific crypto has been deemed illegal for Americans at home or abroad to use. … Read more
Changes Afoot for Philippine Crypto-Friendly Economic Zone
The special economic zone in the Philippines known for its crypto friendliness is undergoing some changes. Government-owned Cagayan Economic Zone Authority (Ceza) is investigating a case involving one of its licensed crypto exchanges after a tip from the Chinese government. The authority has also issued new directives to all of its licensees, including 40 crypto … Read more
Indian Parliament Member Helping Crypto Community Influence Regulation
The Indian crypto community has made progress towards influencing the government’s crypto policies. Some industry leaders have met with an influential lawmaker who has agreed to help bring about positive crypto regulation in the country. Also read: India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives Crypto a Boost Parliament Member Agrees to Help … Read more
FATF-Driven Delistings Capture the Criminalization of Privacy
The delisting of privacy coins like monero, zcash, and dash is becoming something of a trend in Asia, and could soon expand elsewhere. In the wake of the intra-governmental Financial Action Task Force (FATF) issuing new global standards, Korean exchanges Okex and Upbit have announced they will delist and put warnings on several privacy coins … Read more
European Countries Step Up Response to Facebook’s Libra
The European Central Bank (ECB) and a number of countries in the region have stepped up their efforts in response to Facebook’s Libra, which has revived a competing ECB project for instant payments. As Facebook engages Switzerland’s financial regulator, the ECB clarifies how Libra can be regulated under EU laws. Also read: India’s Popular ‘Who … Read more
PayPal: ‘A Lot of Work’ Still Needs to Happen for Libra to Become Real
PayPal reportedly cautious about the fate of Facebook’s planned stablecoin Libra Go to Source Powered by WPeMatico
Crypto Facilitates Money Transfer for Restricted China
Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money can … Read more
EU Needs Own Digital ‘EuroCoin’ to Compete With Libra, Says France
“EuroCoin”? France’s finance minister thinks Europe needs its own public digital currency to challenge Facebook’s Libra stablecoin Go to Source Powered by WPeMatico
Indian Lawmaker Raises Hope of Positive Crypto Regulation
A member of the upper house of the Indian parliament has given the crypto community some advice on what can be done to influence the government’s crypto decisions. He encourages anyone to reach out to him and discuss their concerns, including issues related to the draft bill to ban cryptocurrencies in India. His words and … Read more