Tag Archives: crypto ban

As Bitcoin cools from its recent all-time high, HSBC has become the latest banking giant to restrict what its customers can invest in by preventing them from transferring any profits from crypto exchanges to their bank accounts.banAccording to a recent report in The Sunday Times, HSBC has blocked transactions to or from crypto exchanges as it takes a heavy-handed approach to Bitcoin and its brethren. A number of U.K. banks have also made moves to prevent their customers from buying crypto...

Before implementing the ban on cryptocurrency derivatives sales in the UK for retail investors, the FCA asked over 500 firms, trade bodies, and competent authorities on their opinion. Interestingly, the results decisively concluded that 97% of all participants didn’t agree with the prohibition.97% Oppose The FCA Crypto Derivatives BanUK’s watchdog, the Financial Conduct Authority (FCA), initially proposed prohibiting the sale, marketing, and distribution to retail clients of cryptocurrency...

It looks like India and cryptocurrency are back in the news. This time, India is resorting back to its old tricks of potentially banning crypto trading.India Seeks Full Ban on Crypto TradingThe big question is this… Didn’t the country already tread this path? While crypto trading itself was never banned within its borders, India did pass a law that prevented all standard banks and financial institutions from doing business with firms and enterprises that dabbled in crypto. If a company...

President Vladimir Putin of Russia has signed a new law that will prohibit the use of cryptocurrency as a payment means in the country by 2021. Meanwhile, the Russian government recently deployed blockchain technology for its constitutional amendment.Crypto as Payment to Become Illegal in 2021According to a report by local news outlet RIA on Friday (July 31, 2020), the bill signed by President Putin will prevent citizens from using crypto to pay for goods and services in Russia. The bill...

Following reports that Russia may introduce new legislation that would essentially criminalize cryptocurrency usage, a recent document revealed that the country is reviewing an updated version of the “Digital Financial Assets” (DFA) bill that excludes criminal allegations.No Prison In Russia For Cryptocurrency Usage?As CryptoPotato reported recently, members of Russian’s lower house (the State Duma) contemplated new strict legislation on cryptocurrencies.The first reading of the DFA bill...

Yesterday, in an online discussion with India’s leading cryptocurrency industry players, the country’s former Finance Secretary, Mr. Subhash Chandra, said that ‘crypto assets’ should be regulated, but with ‘rules.’ Garg previously headed the Inter-Ministerial Committee that drafted a draconian bill banning cryptocurrencies in India.Maybe We Can Try to Regulate it (Crypto) as a Commodity: GargAs per the draft of the crypto ban bill that surfaced in 2019, anyone possessing Bitcoin or other...

India saw a rapid increase in cryptocurrency trading amid the lockdown period, and after the Supreme Court overturned the Reserve Bank of India’s decision to ban crypto businesses, the Hindu reports.India’s Crypto Trading Volume May Be Up to $30M Per DayThe strict social distancing rules, which were adopted at the end of March, might have triggered a surge in cryptocurrency trading volumes, bringing many new participants. Local companies that deal with cryptocurrencies in one form or another...

Brazil’s CVM Says no to Binance Futures Trading: In a statement released on Monday, the Comissão de Valores Mobiliários (CVM) — Brazil’s securities regulator — announced the ban on Binance crypto derivatives trading in the country. According to the CVM, Binance is not authorized to offer securities trading in Brazil.For the CVM, crypto derivatives constitute a securities offering regardless of whether the underlying asset like Bitcoin (BTC) is not a security. Following the statement, Binance...

According to recent reports, the Ministry of Finance in India has proposed to ban digital assets. The move comes only three months after the nation’s Supreme Court revoked a two-year-old ban.India Changes Its Mind On Crypto (Again)?A local report from today informed that India’s Ministry of Finance had moved a note for inter-ministerial consultations. After the consultations, it will reach the cabinet and subsequently, the Parliament.Should it be successfully implemented, it could effectively...

Founder and CEO of Social Capital, Chamath Palihapitiya, and current Los Angeles Clippers owner Steve Ballmer were the latest popular individuals to had their names involved in fake Bitcoin giveaways on YouTube.With the rising number of similar scams on social media platforms, the question remains on the potential consequences on the community and legitimate cryptocurrency content creators.Steve Ballmer. Photo by: CBSsportsFake Bitcoin Giveaways ContinueDuring the weekend, scammers...