Bitcoin, Crypto currency, Blockchain

Regulatory-ECHO week 40 –”crypto is the future of money”

In the past week a lot of is around the globe time and again in terms of regulatory events. In our regulatory response we look back at the week end and summarize what was thought about when, where, and by whom said, or decided.

India: no research group to Blockchain and crypto

In the past weeks, there had been rumors that the Indian Central Bank has established a unit for the study of the Blockchain and crypto-currencies. These rumors emerged on a report of Coin Crunch India, the RBI confirmed, but never from the official page. At the request of the newspaper, the RBI announced now, that no new unit was established for the study of crypto-currencies.

Japan: a self-regulatory group has strict rules

The Japanese Virtual-Currency Exchange Association (JVCEA) wants to tighten the rules to which the participating crypto-need to keep stock exchanges. In the JVCEA some of the largest crypto stock exchanges of the country, which have it written on the Flag, rules for self-regulation. The current tightening limited the number of Coins that can be managed from the Exchange online, to a maximum of 20 percent of the total deposits.

Malta: Prime Minister Muscat is in favour of crypto-currencies

“Blockchain makes Kryptowährugnen to the inevitable future of money.” With this statement, Malta’s Premier Muscat before the General Assembly of the United Nations a lot of attention. You help through your transparency to distinguish the good from the bad shops. DLT to give its users a “real possession” of their deposits and constraints on companies and governments to be more honest.

China: journal accepts Bitcoin payments

Beijing Sci-Tech Report, the largest Tech magazine in China, accepted in the future of Bitcoin as a means of payment. What is in other countries, usually only a footnote in value, in China represents an important message. After all, Beijing Sci-Tech Report, with this decision, directly against the direction of the government, the crypto currencies would reduce in the country. The price of a one-year subscription of the magazine is 0.01 BTC.

Israel: financial market authority uses the Blockchain for communication

As the newspaper Times of Israel reported, is using the Israeli financial market Supervisory authority Israel Securities Authority (ISA) now the Blockchain technology. On the authorities own Yael platform, an internal Messenger for communication with sub-agents, provided the technology is to be installed. Through the use of an immutable Blockchain technology, the Agency is trying to verify the authenticity of messages.

Ukraine: member of Parliament calls for suspension of crypto-control by 2030

The Deputy Yuriy Derevyanko has introduced this week a bill to Parliament, aimed at the suspension of the crypto-control. The bill provides tax exemptions for all participants in the crypto market to the 31. December 2029. He justified this by saying that the crypto-sector could be an engine for a new economic power. Derevyanko is a member of the Ukrainian Anti-corruption movement.

Brazil: the competition authority questioned crypto-exchanges

The Brazilian administrative Board for economic defense (CADE), which is operated by the local Ministry of justice, sent a questionnaire to various crypto-companies. The Bank accounts of these companies have recently been closed, what had been brought to the attention of the authority to the company. The CADE is responsible for the maintenance of competition in the country, similar to the German Federal cartel office.

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