Regulation

It’s a big win for Chinese tech giant Tencent as Hong Kong’s top-most regulator – Securities and Futures Commission (SFC) – has recently granted them a new license to open a virtual bank.On Friday, November 8, speaking at the World Blockchain Summit in Wuzhen, China, Tencent’s chief of blockchain division – Yige Cai – said that his company has received a go-ahead from the SFC to open blockchain-based virtual banking system in the country.Although not many details of the bank’s launch are...

CannaCor (Pty) Ltd is a company licensed as a prohibited drug operator. With over 50 000m2 of acquired land in Berea, Lesotho, the company will dedicate the land to the greenhouse or indoor cultivation of Cannabis. This company aims to become one of the top players in the industry, currently licensed and compliant with regulations to provide services in Canada, Europe and other global markets from this facility.The medical cannabis cultivation is a growing industry, with many countries...

Photo: BinapexIn a wide row of crypto exchanges, Binapex can be really noted for its safety and speeds of transactions. It is located in Seychelles and is built to provide its users with a reliable platform with which they can track and trade cryptocurrencies like Ethereum, Bitcoin and lots more.Binapex.com stands out from the row of other platforms as it introduces convenience, simplicity, and tight security to the crypto-space through its fiat currency, token, and cryptocurrency exchange...

Ripple Labs Inc, and its CEO Brad Garlinghouse are enmeshed in a lawsuit with Bradley Sostack who is the court-appointed plaintiff in a lawsuit that argues that Ripples monthly Escrow sales of its token constitute illegal sales of securities.The filing which was made public on Monday indicates that the new claim was made as a result of Ripples’ motion to dismiss the suit in September. Ripple is basing its argument on the statute of repose where the plaintiff didn’t file any charges within the...

The G7 meeting participants state that things like stablecoins including Facebook‘s Libra should be strictly regulated and the risks connected with them are not yet studied well. Per EU lawmaker and a German conservative Markus Ferber:“At the very least, we need a robust regulatory framework to deal with virtual currencies. The (executive EU) Commission has been way too complacent on the issue so far. With the threat of Libra on the horizon, it is time for action now.”The draft text of the...

Hong Kong’s financial regulators will introduce a new framework for cryptocurrency exchanges, after the unsuccessful first attempt from last year. An official from the Securities and Futures Commission (SFC) in the city informed that the new version should be published today.Hong Kong To Regulate Crypto ExchangesDuring a FinTech conference taking place in Hong Kong, the head of the SFC, Ashely Alder, announced that they will issue a new regulatory format. Purportedly, by including...

Huobi Global will disable the accounts of U.S.-based customers. HBUS welcomes Huobi Global’s users. The move could impact the price of Huobi Token (HT). Huobi Global announced Monday it will freeze the accounts of its U.S. customers in order to comply with domestic regulations. The move could have severe implications for Huobi Token (HT), the company’s native cryptocurrency. Complying with Laws and Regulations In a blog post, the world’s third-largest cryptocurrency exchange by...

Photo: Wikimedia CommonsI have big hopes for Christine Lagarde following her appointment as the new head of the European Central Bank. And here’s why (Warning: libertarian crypto enthusiasts should look away now).A company I co-founded held Bitcoin in the now-infamous Mt. Gox exchange. You may remember that back in 2013-14 it was the world’s leading Bitcoin exchange handling over 70% of all transactions worldwide. But in February 2014 things went horribly wrong as Mt. Gox suspended trading...

Today the next chapter of a long-running and closely watched lawsuit against Ripple will happen. The plaintiff, Bradley Sostack, has time until the end of this Monday to file a response to the startup’s September 20 motion to dismiss. If the case won’t be entirely dismissed, it will probably go into discovery next year.As we already reported, the main point of this dispute is the question of whether Ripple’s cryptocurrency XRP is a security or not.If it is, that means that it should have been...

Malta has become one of the world’s biggest crypto havens over the past few years, and now, things are about to take a whole new turn.Malta Is a Leading Crypto MaverickSeveral companies – 34, to be exact – that either operate in blockchain or cryptocurrency-based territory within Malta, have sent “letters of intent” to the country’s Financial Services Authority (the MFSA). These letters say they are requesting permission from the organization to continue their operations and further provide...