The People’s Bank of China blockchain trade finance solution processed $4.36 billion in foreign exchange transactions since its inception. The blockchain trade finance solution of the People’s Bank of China (PBoC) processed over 30 billion yen ($4.36 billion) in foreign exchange transactions, local finance news outlet SINA reports on July 8. Per the report, the […]
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Deputy governor for new technologies at the Central Bank of Iran said that buying and selling bitcoin is illegal in the country. Buying and selling cryptocurrencies like bitcoin (BTC) is illegal in Iran, a senior government official declared, according to a report by local news agency Tasnim News on July 8. Nasser Hakimi, deputy governor […]
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Singapore plans to exempt cryptocurrencies that are intended to function as a medium of exchange from Goods and Services Tax (GST) — the local equivalent of VAT. Singapore plans to exempt cryptocurrencies that are intended to function as a medium of exchange from Goods and Services Tax (GST) — the local equivalent of Value-Added Tax […]
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European Central Bank executive board member Benoit Coeure said that financial regulators must act fast to prepare for Facebook’s Libra stablecoin. European Central Bank executive board member Benoit Coeure said that financial regulators must act fast to prepare for Facebook’s Libra stablecoin, Bloomberg reports on July 7. Per Bloomberg, Coeure argued on Sunday in Aix-en-Provence […]
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Iranian Assistant Minister of Trade says that US Congress is trying to stop BTC mining in Iran. Saeed Zarandi, Iranian Assistant Minister of Industry, Trade, and Supply, said that US Congress is working to stop Iran’s access to cryptocurrencies and Bitcoin (BTC) mining, as reported by local news service Al-Fars on July 6. According to […]
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Taxing people to store money will drive them to cash, which authorities can’t afford to eliminate, says Bank of Japan deputy. Japan’s second most senior banking figure has said central banks cannot use digital currencies to enforce negative interest rates, Reuters reported on July 5. Speaking at an event held by the publication, Masayoshi Amamiya, […]
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Donald Trump’s latest currency manipulation tweet bolsters the argument for crypto as a safe haven asset. United States President Donald Trump has proposed the U.S. should ‘MATCH’ Chinese and Euoropean currency manipulation, sparking a dip in the greenback’s value. The president shared his thoughts in a tweet published on July 3: “China and Europe playing […]
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Nobel laureate in economics Joseph Eugene Stiglitz claimed that “every currency is based on trust, but only a fool would trust Facebook’s Libra.” Nobel prize-winning economist, Joseph Eugene Stiglitz, claims that “every currency is based on trust, but only a fool would trust Facebook’s Libra” in an article published on July 2. Stiglitz also notes […]
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The Financial Conduct Authority is planning a ban on crypto derivative products for retail investors. British financial watchdog, the Financial Conduct Authority (FCA), is preparing a potential ban on the sale of crypto derivatives to retail investors, according to an official document released on July 1. In the document, titled “Restricting contract for difference products […]
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Dutch ministers have called on the government to introduce new regulations on money laundering that would include cryptocurrency-related stipulations. Dutch ministers have urged the government to regulate cryptocurrencies and certain cash payments over money laundering concerns in a statement on July 1. The officials said that the government should ban cash payments over 3,000 euros, […]
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