Crypto service providers must fulfill seven conditions that include being constituted in the form of a company with a minimum capital of roughly $52,725 (EUR 50,000).
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Category: Virtual Currencies
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Dubai establishes virtual asset regulator and announces new crypto law
The Sheikh said the regulator will have authority in Dubai’s special development zones and free zones with the exception of the Dubai International Financial Centre.
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China’s Supreme Court adds digital currency to list of illegal fundraising methods
The new policy change aims to mitigate risks arising from digital currency fundraising and the absorption of funds from the public.
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People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown
The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions. According to Chinese media, the entities have been targeted in a crackdown on crypto trading in the city. People’s Bank of China Cracks Down on Coin […]Powered by WPeMatico
Shanghai Law Enforcement Officials, Scholars Talk Cryptocurrency
Representatives of law enforcement agencies and academia in Shanghai held a seminar devoted to cryptocurrencies, regulations, and the combating of crypto-related crime. Determining “the legal attributes of virtual currency” was among the main topics at the forum which also focused on matters of financial supervision. Prosecutors and Professors Discuss Crypto Oversight in Shanghai Amid an […]Powered by WPeMatico
UAE to experiment and launch an in-house digital currency
As a part of the 2023-2026 strategy, CBUAE intends to be among the world’s top 10 regulators.
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A Look at How Second Life’s Linden Dollars Helped Kickstart Bitcoin’s Value
When people think about bitcoin’s past they sometimes refer to subjects like Mt Gox, the Silk Road, or the famous pizza transaction. Although, people often forget that the online virtual world Second Life played an important role during the Bitcoin network’s early years. In fact, some large Linden dollar (L$) holders who swapped their virtual […]Powered by WPeMatico
Kenyan Banks Warn Clients Against Crypto Trading
A few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.” Crypto Trading Risks According to a local report, one of […]Powered by WPeMatico
Chinese trade associations sound crypto investment warning
Three associations outlined four issues related to crypto investment beginning with a call for its members to understand the nature of virtual currencies.
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US Government Agencies Propose Changes to Funds Transfer Rules-Seek to Broaden Definition of Money to Include Cryptocurrencies
The U.S. Federal Reserve Board and Fincen are seeking feedback on their proposal to lower the threshold at which financial institutions must collect and retain information on funds transfers. In their joint notice on the rule change proposal, the two U.S. agencies want a new threshold for international transactions to be set at $250 down […]
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