The Utility Settlement Coin (USC) project has the potential to disrupt the banking sector with crypto payments. On June 3, the Utility Settlement Coin (USC) project, one of the most ambitious crypto-based initiatives in mainstream finance, announced that it had taken the next step in its progression: the creation of a new company called Fnality […]
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Adam Back, a cypherpunk who was one of the first people to work on BTC, attended a seminar at the G20 meeting of finance ministers. Adam Back, who invented the hashcash proof-of-work system and was one of the first people to work on bitcoin (BTC), spoke about the positive uses of blockchain at G20. Cointelegraph Japan […]
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Iran’s deputy energy minister said that electricity bills for digital currency miners should be calculated in accordance to real prices. The deputy energy minister of Iran has said that electricity bills for digital currency miners should be calculated in accordance to real prices, Iranian economic daily newspaper Financial Tribune reported on June 9. Iran’s deputy […]
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G20 finance ministers and central governors ask the Financial Stability Board and other regulators to consider a multilateral approach to crypto. G20 finance ministers and central bank governors have asked the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks around crypto assets. The request was made in a joint communiqué published on […]
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India’s new draft bill reportedly suggests a 10-year prison sentence for dealing with crypto, while proposing a national digital coin. Indian lawmakers have reportedly proposed to enforce a 10-year jail term for citizens who deal with cryptocurrencies, local financial news agency BloombergQuint reports on June 6. The new tough crypto regulation is a part of […]
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The CEO of the Russian state-owned bank considers bitcoin a “technical instrument for transactions,” rather than a type of investment. The CEO of state-owned Russian bank Sberbank has officially confirmed the institution’s decision to not develop crypto-related services, local financial publication Banki.ru reports on June 7. Herman Gref, Sberbank CEO and a former minister of […]
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The Egyptian government is ready to overcome years of uncertainty on crypto, with new laws reportedly coming by the end of 2019. In the end of May 2019, the Central Bank of Egypt (CBE) announced that it is working on a draft law for crypto-related activities. When introduced, it will oblige financial institutions in the country […]
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Aleksandr Konyuk said cybercrime was impacting peoples’ everyday lives and jurisdictions should study areas such as crypto as a result. Belarus’ general prosecutor has raised concerns about the role cryptocurrency could be playing in tax evasion, local daily news outlet TUT.by reported on June 4. Speaking as Belarus hosted the International Prosecutors Association’s regional conference, […]
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BitMEX has invested in the Philippine Digital Asset Exchange, which is licensed by the country’s central bank. BitMEX Ventures has invested in a crypto exchange licensed by the central bank of the Philippines, the company announced in a news release shared with Cointelegraph on June 3. The release notes that the financial backing will help the Philippine […]
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Brazil’s National Bank for Economic and Social Development will finance the production of a documentary using its BNDES token. A Brazilian state-owned bank is reportedly funding a documentary film through its own ether-based stablecoin, Cointelegraph Brazil reports on June 3. Brazil’s National Bank for Economic and Social Development (BNDES) will finance the production of a […]
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