Vietnam at Crossroads on Cryptocurrency Regulations

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Vietnamese authorities are still considering their approach to regulating the cryptocurrency space. The Ministry of Justice has put forward several alternative solutions and the Ministry of Industry and Trade has expressed its opposition to the ban on imports of mining equipment. Also read: Uzbekistan Sets up International Arbitration Center for Crypto Businesses Justice Ministry Reports…

China’s Central Bank Calls for More Government Oversight on Blockchain

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China’s central bank the People’s Bank of China (PBC) encouraged the government to increase supervision of blockchain-related ventures in a working paper released on Tuesday, warning that “bubbles were apparent,” according to Reuters. “China to Strengthen Supervision on Blockchain-Related Financing, Investment” by REUTERS via NYT https://t.co/A9MGNo1Z9d #crypto #blockchain — ACO (@altcoinore) November 6, 2018 ‘Cannot…

Venezuela’s Supreme Court Orders Payment in National Cryptocurrency

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Venezuela’s Supreme Tribunal of Justice has ordered a compensation payment of 266 petros, the country’s national cryptocurrency, in a workplace injury case. Meanwhile, the Venezuelan government has launched the petro savings plan, backed by 4 million of the digital currency. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Venezuela’s Supreme Court Recognizes Petro The…

Korean Court Rules in Favor of Cryptocurrency Exchange Against Bank

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A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.…

UK Report Warns PMs Not to Crack Down Too Hard on Crypto

UK Report Warns PMs Not to Crack Down Too Hard on Crypto

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A new report on cryptocurrency regulation in the UK warns that “bad regulation is worse than no regulation at all,” the Telegraph reported on Monday. Experts cited in the report claim that an overly harsh crackdown on cryptocurrencies could break up the UK crypto market, causing companies to move to less regulated pastures to set…

South Korea Cracks Down on Unauthorized Cryptocurrency Funds

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South Korean financial regulators are cracking down on unauthorized cryptocurrency funds. In particular, one crypto fund launched by a local exchange is reportedly being investigated. The exchange claims no wrongdoing as its token activities were carried out overseas, but has promptly canceled its plan to launch a second fund. Also read: Yahoo! Japan Confirms Entrance Into…

Japanese Regulator: Stablecoins Are Not Cryptocurrencies Under Current Law

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Japan’s top financial regulator, the Financial Services Agency, has exclusively explained to news.Bitcoin.com how stablecoins are treated under current Japanese law. In addition to emphasizing that they are not virtual currencies, the regulator clarified the registration requirements for their issuers and dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Not Virtual Currencies Japan’s…

Taiwan Drafting National ICO Standards

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The Taiwanese Financial Supervisory Commission is drafting a set of national standards for initial coin offerings. The regulator reportedly aims to make tokens as easy to invest and as liquid as stocks. The commission emphasizes that it “has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as…