A property dispute involving Bitcoin was held in the internet court in Hangzhou, China on July 18, setting a new precedent by declaring that Bitcoin is virtual property with monetary value. According to the case of plaintiff Wu against defendants FXBTC and Taobao, it has been recognized that Bitcoin has the attributes of virtual property … Continue reading China Declares Bitcoin as Virtual Property with Monetary Value
Bitcoin’s trading volume has set a record high in Venezuela, thanks to the 10,000,000% inflation rate in 2019 as shown in Statista. Source: Coin.dance The data shows Bitcoin’s trading activity in P2P exchanges LocalBitcoins, Paxful and Bisq from Coin.dance. Bitcoin’s trading volume in LocalBitcoins hit a record high of 57 million bolivars on 20 July, beating the previous high of 49 … Continue reading Venezuelans Will Love Bitcoin Even More with 10,000,000% Inflation
In recent speculation, Facebook has acknowledged that there are several regulatory issues that is preventing the progress of launching Libra globally. “There can be no assurance that Libra or our associated products and services will be made available in a timely manner” Facebook mentioned in its filing with the Securities and Exchange Commission. The filing added, “These laws and regulations, … Continue reading Will Facebook Ever Be Able to Launch Libra?
The British Financial Conduct Authority (FCA) has confirmed that they will not be regulating cryptocurrencies such as Bitcoin and Ether as it falls out of their perimeter. The FCA first issued a finalized policy statement on digital assets titled “PS19/22: Guidance on Cryptoassets”. This policy statement update is in response to the feedback received from the previous … Continue reading UK Financial Conduct Authority: We Will Not Regulate Bitcoin and Ether
The United States Commodities and Futures Trading Commission (CFTC) confirmed that LedgerX has not yet been approved to offer physically-settled Bitcoin futures in contrary to previous announcements. LedgerX has officially launched their product on July 31, as they revealed to CoinDesk that they had launched the first physically-settled Bitcoin futures contracts in the U.S, surpassing Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX. CEO of LedgerX, … Continue reading LedgerX “Not Yet Approved” by CFTC to Launch Physical Bitcoin Futures
Singapore’s Central Bank has announced that a website instigating fake claims to woo Singaporean investors is operational. Notably, this financial regulator has called out its activities as investors are prompted to purchase Bitcoin. The Monetary Authority of Singapore (MAS) has been pivotal in showcasing the website’s fabricated declarations about Bitcoin investment linked to Goh Chok … Continue reading Singapore’s Central Bank Raises Alarm About a Bitcoin Scam
The US Declares China a ‘Currency Manipulator’ The US Treasury Department officially designated China as a “currency manipulator” on Monday following the most significant stock market losses the US has seen in 2019. There was a 2.9% plunge overnight in the Dow Jones Industrial Average, Nasdaq down 3.4% while Bitcoin is up 3.2% as tweeted by Tim Draper. In a … Continue reading US Declares China a 'Currency Manipulator' while Bitcoin Sees Growth
The Hong Kong Monetary Authority (HKMA) started exploring blockchain technology with the whitepaper on distributed ledger technology (DLT) in Nov 2016. Since then, the HKMA has been actively leveraging blockchain into trade finance including eTradeConnect, Global Trade Connectivity Network, and we.trade. What is the role of Deloitte Blockchain Lab in these initiatives? We were delighted to interview Dr. Paul Sin, leader of the Deloitte … Continue reading Exclusive: Deloitte Blockchain Lab on the Three Areas of Collaborations with HKMA
In a report released by the European Central Bank (ECB) on Aug 7, it was stated that the central banking community would increase the monitoring of cryptocurrency transactions on-chain and off-chain. The report titled, “Understanding the crypto-asset phenomenon, its risks and measurement issues,” claims that the ECB is devising a monitoring framework of the crypto market, by using … Continue reading ECB is Raising the Bar with its Crypto Surveillance
In an effort to increase the level of expertise in the field of distributed ledger technology, the government of Bangladesh has expressed its intentions to send 100 new graduates for blockchain training in Japan and India according to the report by Bangladesh’s English-language newspaper The Daily Star on Aug. 4. The country also plans to … Continue reading Bangladesh Sends Graduates Abroad for Blockchain Training with IT Fund