The Fate Of Crypto Assets In India: To Regulate Or Not

333 0 The Budget 2018, released by the Government of India saw the Finance Minister, Arun Jaitley acknowledge the elephant in the room that is gaining prominence with each passing day – crypto assets & the related investment/trading activities. Jaitley stated that crypto assets were not a legal tender and the government would take all […]

Rules on cryptocurrencies should be out soon: SEBI chief

328 0 Amid continuing volatility in bitcoin prices and growing concerns about investors’ safety, SEBI Chairman Ajay Tyagi said on Feb 10th that the regulations on cryptocurrencies should be out soon and the role various regulators will play is being finalized. “The day Budget was presented, on the next day itself we have requested DEA (Department of Economic […]

Gibraltar Moves to Legalize and Regulate ICOs

257 0 The Government of Gibraltar (HMGoG) and the Gibraltar Financial Services Commission (GFSC) are developing legislation relating to tokenised digital assets (tokens), essentially those created and traded using distributed ledger technology (DLT). After taking into account stakeholder feedback, work has now begun on drafting legislation to regulate: the promotion, sale and distribution of tokens […]

Indian Finance Minister states cryptos not legal tender in Budget speech

295 0 The official statements from Mr. Arun Jaitley, Finance Minister read as follows: “The Government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto assets in financing illegitimate activities or as part of the payment system. The Government will explore the use of blockchain […]

Russia’s largest State Bank to open Cryptocurrency Exchange in Europe

257 0 Sberbank, the largest state bank of Russia, is planning to launch a cryptocurrency exchange in its Swiss branch, Sberbank Switzerland AG, local media group RBC reported on Tuesday Jan. 30. The bank’s Head of Global Markets Andrey Shemetov told RBC that the Russian bank chose Switzerland for the exchange location because Russian authorities […]

Singapore will not ban Cryptocurrencies

293 0 In a series of fourteen statements published Monday, Feb. 5 in response to questions posed by members of parliament Tuesday, Tharman Shanmugaratnam, deputy prime minister and minister in charge of the regulatory body, the Monetary Authority of Singapore (MAS), confirmed a broadly hands-off policy regarding cryptocurrencies going forward. From his official statement: “(MAS) […]

U.S. Banks ban Crypto purchase via Credit Cards

269 0 U.S. banks Bank Of America, Citigroup, JP Morgan, Capital One and Discover banned their customers from purchasing cryptocurrencies in a move intended to decrease both financial and legal risk. The effect spilled over to the other side of the Atlantic with U.K. banking group, Lloyds following suit. Although cited as a financial and […]

Australian Banks confirm no ban on buying Cryptos

310 0 Unlike their British and American counterparts, Australian banks issued statements about not blocking customer transactions for buying Bitcoin and other cryptocurrencies. While Westpac and ANZ expressed to ABC news that no crypto transactions would be blocked, National Australia Bank suggested it might not allow certain cryptocurrency transactions to proceed if security concerns arise. […]