It seems that the losing streak around Libra is endless as recent weeks have been quite pessimistic for this project. Not only have several members decided to leave the association, but also Facebook will have to face another problem, this time regarding a trademark.
The Bitfinex exchange has not had a winning streak in recent months. This time, a group of investors filed a class action for damages of up to a trillion dollars.
The Dutch central bank has announced that institutions that provide any cryptocurrency services must prepare for new legal regulations from January 2020.Date of changesJanuary 10, 2020 - it is then that the new regulations prepared by De Nederlandsche Bank are to go into effect. Institutions conducting operations related to cryptocurrencies will have to register relevant documents in the bank in order to continue operating them.In the official statement of the central bank we can read:“In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”In July ministers of the Netherlands have attached a condition that cryptocurrencies have to be regulated; the reason is that not so long ago people have been concerned about increasing threat of money laundering, as cryptocurrencies are used for scams pretty frequently.Finance Minister Wopke Hoekstra received a note in January from the Dutch tax office and the central bank. It suggested the implementation of appropriate licenses that should be required from companies providing cryptocurrency services. The Netherlands is a country that does not officially recognize cryptocurrencies as a means of payment, but in 2018 one court ruled that Bitcoin is a "transferable value". In 2018, a survey was conducted on the most popular cryptocurrency exchanges used by the Dutch. Coinbase is the leader here, indicated by 23% of respondents. 12% of respondents said that they do not use any exchanges.
In the blockchain and cryptocurrency industry, more and more disputes over intellectual property have been emerging recently. This is an example of one
The topic of the cryptocurrency in the United States is still relevant. A delegation from the US House Financial Services Committee will raise the issue of Libra in Switzerland.
New Zealand officially declared income in cryptocurrencies as legal. The country introduced a formula on how to tax this income as well.
The European Union has outlined specific requirements for cryptocurrency regulations. The Czechs, however, want to establish their own regulations.
Various struggles have been going on for many months in the Bitcoin environment, sparking controversy. There have even been trials. One of them was brought by Craig Wright.
The court in China, after looking into one of the cases, considered Bitcoin as a virtual property of a certain value, which, in turn, makes it a legally protected asset there.
The Inter-ministerial Committee (IMC), established to examine Bitcoin and cryptocurrency regulations in India, states that the government should put a complete ban on cryptocurrencies.
Democrats proposed a bill that is supposed to punish technology companies with a fine amounting to million dollars a day for putting cryptocurrencies into circulation.
One of Bitcoin's main opponents, Iran, while allowing BTC to be mined, will still not allow for the trade of it.
Canada has amended the regulations against money laundering. The changes will affect cryptocurrency exchanges and their operations.
Christine Lagarde is to become the new president of the European Central Bank. Up until now, Lagarde looked rather kindly on cryptocurrencies, but recently it has diametrically changed.
One of the discussions of the last G20 meeting was connected with the legal regulations regarding cryptocurrencies. The leaders of the countries will carefully look at the postulates of the Financial Action Task Force FATF).
A fake Cryptocurrency exchange led to losses amounting to nearly $27 million. Thousands of people have lost money on operations that most likely took place in the UK and the Netherlands.
Russia is preparing for the possible legalization of cryptocurrency trade. For a long time, the parliament has been waiting for this decision.
New recommendations regarding the regulation of virtual assets have finally been implemented. From now on, the cryptocurrency exchanges will have to share their clients' data.
The five largest cryptocurrency exchanges in Korea have adopted new regulations imposed on them by FTC, the Federal Trade Commission.
Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets has finally explained the problems with cryptocurrencies, although he did so by accident. After announcing potential penalties for miners, he stated that possession of Bitcoin, despite the ban, is still possible.
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