Cryptocurrency Derivatives in the UK at Risk of Ban, Taskforce to Have Final Say

Cryptocurrency derivatives including futures, options and contracts for differences could potentially be prohibited in the United Kingdom in the near future. According to a statement issued by the Financial Conduct Authority (FCA), UK’s financial watchdog, consultations will be held between now and the first quarter of next year where a ban on crypto derivatives will The post Cryptocurrency Derivatives in the UK at Risk of Ban, Taskforce to Have Final Say appeared first on CCN

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Spain Approves Law Requiring Citizens to Disclose all Crypto Holdings

The Spanish Ministry of Finance has closed a legal loophole allowing holders of bitcoin and other cryptocurrencies to skirt asset declaration laws. Announcing a draft anti-fraud law approved by the Council of Ministers earlier today, Finance Minister María Jesús Montero explained that the new law will mandate “the identification of the holders and the balances contributed The post Spain Approves Law Requiring Citizens to Disclose all Crypto Holdings appeared first on CCN

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Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report

The cryptocurrency ecosystem in India may have just found a lifeline, albeit an unlikely one. According to a legal report released in July 2018, the country’s lawmakers are considering legalizing the multi-million dollar sports betting industry – naming cryptocurrencies as a legally acceptable payment method akin to credit and debit cards. India Explores Cryptocurrencies in The post Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report appeared first on CCN

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Australia Central Bank Admires Bitcoin But Says It Has ‘Flaws’

“Even if one is quite skeptical of whether bitcoin will have a significant role in the economy in the future, I think it is hard to avoid some admiration for its design,” Reserve Bank of Australia official Tony Richards thus addressed bitcoin and cryptocurrencies in general in a speech to the Australian Business Economists in The post Australia Central Bank Admires Bitcoin But Says It Has ‘Flaws’ appeared first on CCN

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47% of South Africans Plan to Invest in Cryptocurrencies

South Africa has the most sophisticated economy and financial sector on the continent, and its citizens are increasingly warming up to the idea of investing and trading in cryptocurrencies — despite regulatory concerns over such decentralised digital financial assets across the world. The MyBroadband 2018 Cryptocurrency Survey — completed in April — shows that more South The post 47% of South Africans Plan to Invest in Cryptocurrencies appeared first on CCN

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SEC: ICO Tokens Should Be Regulated as Securities, Not Bitcoin

The role of cryptocurrencies was thrust into the spotlight during a hearing between Congress and the US Securities and Exchange Commission. The US House of Representatives Committee on Appropriations held a hearing with the Wall Street regulator on April 26, and they explored regulating cryptocurrencies in what they still seem to believe exist in a The post SEC: ICO Tokens Should Be Regulated as Securities, Not Bitcoin appeared first on CCN

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Warning Celebrity Cryptocurrency Endorsers: You May Be Sued For Promoting Fraud ICOs

Celebrity endorsers of initial coin offerings and other cryptocurrency products could soon face legal action as regulators continue to crack down on fraud. That’s what securities attorneys warned amid the rash of SEC actions against scam ICOs. “They are clearly sending a signal,” former SEC attorney Nick Morgan told the Financial Times. Morgan, a partner in The post Warning Celebrity Cryptocurrency Endorsers: You May Be Sued For Promoting Fraud ICOs appeared first on CCN

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Pakistan Central Bank Bans Banks from Cryptocurrency, ICO Transactions

Pakistan’s central bank has told banks and other financial services providers not to support virtual currency transactions. The State Bank of Pakistan (SBP) advised the general public in a statement on its website and in a tweet that it regulates both domestic and international payment and money transfer services.   Pakistan’s announcement on Friday follows The post Pakistan Central Bank Bans Banks from Cryptocurrency, ICO Transactions appeared first on CCN

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