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Regulation

Cryptocurrency Donations Without Limit to Politicians are Now Legal in Japan

In a surprise move that will spur further adoption of cryptocurrencies in Asia and globally, the Japanese can now donate unlimited amounts of cryptocurrencies to politicians and need not disclose this to the authorities. This was made known by Sanae Takaichi in a press conference two days ago. Sources indicate that she said that cryptocurrency donations don’t fall under the purview of the Political Funds Control Law and as such don’t need to be disclosed and can be donated without limit to...

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Bitcoin-Friendly Japan Clarifies Stance on Crypto Donations – It’s Legal

In a clear example of tech evolving faster than the law can adapt, a Japanese minster has confirmed that crypto donations are now legal due to a classification loophole. According to Reuters, on Tuesday, Sanae Takaichi, the internal affairs and communications minister of Japan, noted the newfound ‘legality’ of crypto donations. She specifically highlighted their use within elections, remarking that cryptocurrencies were not subject to the stringent political fund’s control law; a statute...

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ICE, NASDAQ, CME Urge FCA Not to Restrict Crypto Derivatives for Retail Investors

The World Federation of Exchange (WFE), which is made up of the globe’s giant stock exchanges such as Deutsche Boerse, the London Stock Exchange, Korea Exchange, CME Group, and Nasdaq, has requested the Financial Conduct Authority (FCA) of the United Kingdom not to illegalize crypto derivatives for retail users.The WFE made the official announcement in reply to the financial regulator’s consultation document on potentially restricting crypto derivatives like Bitcoin futures as well as...

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Lawsuit Claims Bitfinex and Tether Manipulated the ‘Largest Bubble in Human History’

In a typical class action, a plaintiff, per Wikipedia, sues a defendant or more of them on behalf of a group, or class, of absent parties. This differs from a traditional lawsuit, where one party sues another party for redress of a wrong, and all of the parties are present in court. We already reported of how Bitfinex and Tether are expecting another lawsuit for market manipulation.Now, a class-action lawsuit was filed on Monday against Bitfinex, Tether and other members in the United States...

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British Crypto Investigations Skyrocket 74% as Watchdog Proposes Derivatives Ban

Investigations into cryptocurrency firms by the UK Financial Conduct Authority (FCA) have surged by three-quarters this year, as the agency tightens the rein on the crypto sector. Scrutiny On the Rise According to research from Pinsent Masons, an international legal firm, active investigations into cryptocurrency firms have surged to a whooping 87 companies in 2019 from just 50 a year prior. Speaking on the rampant increase in scrutiny, David Heffon, a partner at Pinsent Masons, remarked...

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German Finance Minister Speaks in Favor of Digital Euro

Olaf Scholz who is currently the German finance minister has indicated his stance on the cryptocurrencies in particular and electronic money in general. According to local sources, he made his position known last week and also revealed skepticism for private-interest cryptocurrencies such as Facebook’s Libra. He proposed the introduction of an electronic Euro which won’t serve a replacement of the current Euro system but will be used alongside it.He said:“Such a payment system would be good...

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U.S. Congressmen Want the Federal Reserve to Consider a Digital Dollar

Even as the U.S. Congress bites down hard on Facebook and the social media giant’s grand plans of issuing its own digital currency, a recent event has corroborated the general idea that the problem with the Libra might not be the fact that it’s a digital currency itself, but that it’s being issued by Facebook. This is because, two Rep members have revealed concerns about the inevitability of digital currencies in the near future, suggesting that the United States should start getting used to...

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Telegram to Officially Launch TON Network by October 31

Telegram Open Network (TON) announced in its letter to investors that it is close to its planned launch.Mitja Goroshevsky, CTO of TON Labs, a startup building tools for TON developers, said that TON Labs itself “will run and manage its own validation pool.”He confirmed the authenticity of the letter saying that original investors received emails from the Telegram core team and that is expected from them to provide Telegram with their public keys by Oct. 16 using the key generator in order to...

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Unfazed by All the Negativity, Facebook’s Libra Publishes Roadmap for Mainnet Launch

There has been a lot of negativity surrounding the launch of Facebook Libra over the last few months. Global regulators and banking institutions have showered severe criticism over the project. However, despite several kickbacks, the Libra Association is proceeding ahead with its plans of mainnet launch.Recently, the Libra Association has published a new roadmap that highlights 4 major milestones to be attained before the launch of the Libra network. The Calibra team says that the first...

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Visa, Mastercard and Other Major Libra Backers Want to Pull Out from the Deal

Since its launch on June 18, 2019, Facebook’s Libra project has encountered mixed reactions. Now, four payment companies that had joined the social media giant as founding members of the Libra Association are hesitant. They have developed cold foot over whether to formally sign on to the crypto project. The issue was explained by people familiar with the matter.According to a new Bloomberg report, MasterCard, Visa, Stripe, and PayPal are allegedly stalling at officially joining the...

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