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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…

South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits

Posted on January 22, 2020January 22, 2020 by Julie Williams

New report has it that South Korea’s Ministry of Economy and Finance is set to implement a crypto taxation legislation. According to an anonymous source, the topic of taxing crypto users have been in the pipeline for a while now. It is believed that South Korea’s government via the office of the Ministry of Finance has been flirting with a 20 percent tax rule on crypto profits. Going by the recent update, the Ministry of…

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….

Research Finds Active Bitcoin Address Linked with Terrorist Group Hamas

Posted on January 21, 2020January 21, 2020 by Julie Williams

The Interdisciplinary Center Herzliya’s International Institute for Counter-Terrorism (IDC-ICT) recently released a detailed report, highlighting the role of a Bitcoin address in financing the terrorist group Hamas. The terrorist group has a long-standing financial relationship with Iran. However, it seems the group is low on Iranian funds, and as such it is turning to crypto as its new source of funding. Via the Bitcoin address, the group is able to solicit help from supporters and…

Libra Professes Independence from Facebook with Own 5-Member Committee

Posted on January 20, 2020January 20, 2020 by Julie Williams

With what appears a great sense of fulfillment, Facebook’s Libra team has announced that an independent committee, tagged the Technical Steering Committee (TSC), has been formed within the organization to oversee technical activities in Libra. Speaking for the Libra Association, Micheal Engle, writes that the Libra Association is poised to reassure regulators and the genera public that the Libra cryptocurrency project is, in fact, independent of any organization. As opposed to the general belief that…

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…

Attendees of North Korea’s Crypto Conference Might Violate Sanctions

Posted on January 16, 2020January 16, 2020 by Julie Williams

It is no news that the Democratic People’s Republic of Korea (DPRK), or simply North Korea, has been on the wrong side of the United Nations (UN) and the free world at large. Stemming from that, some sanction experts with the UN have made it clear that attending any conference in North Korea, including the upcoming crypto conference, is considered criminal. Therefore, attendees will be penalized for it. All hell broke loose in August when…

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