Rehan Yousaf | AllStocks Network

Telecommunications Giant Vodafone Leaves the Libra Association

Posted on January 26, 2020January 26, 2020 by Rehan Yousaf

Since the announcement of Facebook’s ambitious cryptocurrency project Libra last year, the social media company has faced a lot of scrutiny from regulators and politicians. This has caused many early backers, such as Mastercard and PayPal to exit the Libra Association, and as of recently, Vodafone has become the latest member to quit the project as well. When Facebook announced its plan to launch a digital currency in June of 2019, the news quickly gained…

Group of Central Banks Assesses Developing Central Bank Digital Currencies

Posted on January 23, 2020January 23, 2020 by Rehan Yousaf

Thhe Bank of England released an official notice on January 21st, stating that a group of central banks will assess the possibility of launching central bank digital currencies. The coalition of banks involved in the new cryptocurrency project will include the Bank of Canada, the Bank of England, the Bank of Japan, European Central Bank, Sveriges Risbank of Sweden, the Swiss National Bank and the Bank for International Settlements. The group of banks will look…

Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously

Posted on January 22, 2020January 22, 2020 by Rehan Yousaf

As advancements in blockchain technology increase, there has been a wider debate regarding cryptocurrency and global safety. In an analysis report conducted by Chainanalysis, the findings indicate some concerning issues regarding the use of cryptocurrency. Ibn Taymiyya Media Center (ITMC), the media representative of a terrorist organization called Mujahideen Shura Council, became the first terrorist organization to establish a crowdfunding donation in 2016 using cryptocurrency. The organization guaranteed donors that the money it raised would…

Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws

Posted on January 21, 2020January 21, 2020 by Rehan Yousaf

Canadian Securities Administrators, an umbrella organization unifying various regulatory bodies, have issued a notice that instructs crypto trading platforms and the general public about the effects of securities regulations relevant to their actions. The notice issued in called ‘Guidance on the Application of Securities Legislation to Entries Facilitating the Trading of Crypto Assets’ and is categorized as Notice 21-327. The notice details that under certain conditions, the platforms will not be subjected to securities legislation….

Thailand’s Police Suspects Actor Involved in Kidnapping and $740K Bitcoin Ransom

Posted on January 19, 2020January 19, 2020 by Rehan Yousaf

A famous Thai actor (currently still unnamed), who was arrested for potentially kidnapping a businessman for a Bitcoin ransom, will be brought in for questioning by the authorities. After the 33-year-old businessman, Mark Cheng, was successfully able to escape from his abductors he immediately reported the event to local law enforcement agencies. According to the filed report, Cheng was asked to pay the approximately $740K ransom in Bitcoin to the kidnappers, among which was also…

US SEC Cautions Investors from Investing in Initial Exchange Offerings

Posted on January 19, 2020January 19, 2020 by Rehan Yousaf

On January 14th, Office of Investor Education and Advocacy of the U.S. Securities and Exchange Commission (SEC) posted a message on its official website of an alert to caution investors from investing in initial exchange offerings via online trading platforms. IEOs are initial offerings of digital assets to raise capital, somewhat similar to initial coin offering. IEOs are offered through online trading platforms directly on the behalf of companies, as to provide investors with instant…

UK’s Regulator FCA to Monitor Money Laundering and Terrorism Finance via Crypto

Posted on January 14, 2020January 14, 2020 by Rehan Yousaf

The UK’s Financial Conduct Authority (FCA) now supervises companies and business working with crypto for anti-money laundering (AML) and counter terrorism finance (CTF) compliance. In an announcement released on January 10th, the financial regulator said that it will supervise whether businesses dealing with cryptocurrencies and blockchain in the UK are complying with the relevant rules and regulations to curb money laundering and terrorism finance efforts. The FCA also put forth a list of requirements for…

Japan’s Financial Regulator Eyes Strict Limits on Crypto Margin Leverage

Posted on January 14, 2020January 14, 2020 by Rehan Yousaf

Japan’s Financial Services Agency is planning to impose strict restrictions on permitted leverage for margin trading in cryptocurrency exchanges. The planned changes were reported by the Japanese news outlet Japan Times which references sources at the agency. The financial regulator is pushing for these restrictions in order to reduce the risk for margin traders on cryptocurrency trading platforms. According to the report, only twice as much as the deposited amount will be allowed as leverage….

China Rolls Out National Blockchain Network to Enhance Virtual Economy

Posted on January 12, 2020January 12, 2020 by Rehan Yousaf

China’s nationwide blockchain network is due to be launched in the upcoming months. The blockchain-based service network (BSN) will contribute to improving the infrastructure of the blockchain sector in the country to develop the layout for newer blockchain projects and accelerate the growth of smart cities and the virtual economy. The BSN is being released six months after the testing process for the technology began. The new network will be backed by the State Information…

Crypto Gaming Platform Litemint Completes the Acquisition of Stellarport

Posted on January 9, 2020January 9, 2020 by Rehan Yousaf

In an official statement released on January 1st, the gaming platform Litemint, and Stellarport, which is part of Stellar ecosystem, announced that the two companies have entered an agreement in which Litemint will be acquiring Stellarport. The press release states that Stellarport provides a compact multi-assets crypto wallet, and conducts and anchors the services and operations for Stellar Decentralized Exchange. Litemint will soon become a key player in the blockchain-based markets, merging $68.5 billion mobile…

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