Legal

New Crypto & Fintech Regulation Bill By Chilean Government

New Crypto & Fintech Regulation Bill By Chilean Government

A bill regulating cryptocurrencies and fintech announced by the Minister of Finance of the Chilean government Felipe Larraín. Larrain explained, “Regulation of these platforms would mitigate some of the risks, such as money laundering and terrorist financing, and increase the legal certainty with which they operate. We want to adequately protect against the risks associated with this kind of activity.”

Israeli Man, Afek Zard Accused for $9 Mn Dash Crypto Theft

Israeli Man, Afek Zard Accused for $9 Mn Dash Crypto Theft

The victim Alexei Yaromenko has filed an indictment against, Afek Zard, his roommate who allegedly stole DASH crypto worth of $9 million. Afek Zarad reportedly started investing in cryptocurrencies in 2013 and was responsible for teaching his roommate Yaromenko how to trade the new assets, before the alleged theft. Afek reportedly stole Yaromenko crypto wallet credentials from his computer in his absence and moved the cryptocurrencies to four different crypto wallets.

Japan Draws up Cryptocurrency Regulations ‘Manual’ for G20 Leaders

Japan Draws up Cryptocurrency Regulations ‘Manual’ for G20 Leaders

The G20 has quickly discussed cryptocurrency money guidelines at past gatherings, and has likely concurred on the significance of worldwide crypto charge measures, however, has so far shunned making a conclusive move. The Japanese government has in this manner draw up its “manual” for cryptocurrency administration proposition and supports. Japan has arranged the manual will be distributed to G20 pioneers and global budgetary boss.

Trump Tax On Remittance Nudges Crypto Adoption

Trump Tax On Remittance Nudges Crypto Adoption

President of United States Of America Donald Trump has proposed a new remittance tax, which will push immigrant to adopt cryptocurrency to send money outside the country. Kris Kobach, Kansas secretary of state explained, “The threat if we follow through on it. That is the threat of ending remittances from the majority of people in the United States from Mexico who are here illegally.”

Permission For Treasury Bond-Backed Stablecoin Startup Seeks To SEC

Permission For Treasury Bond-Backed Stablecoin Startup Seeks To SEC

A digital asset management startup located in Los Angels, Arca is seeking Securities and Exchange Commission (SEC) approval to sell a new type of stablecoin to retail investors. In its document: “It is therefore anticipated that the underlying portfolio, and the NAV of Arca UST Coins, will have relatively little volatility. Although holders of Arca UST Coins could experience greater NAV volatility compared to typical stablecoins, such volatility will be relatively limited.”

Building Home in Sea Puts Thai Bitcoin Trader’s Life At Risk

Building Home in Sea Puts Thai Bitcoin Trader’s Life At Risk

Chad Elwartowski, a rich Bitcoin trader has built his platform house off the coast of Phuket. But Authorities suspect he attempting to create an independent state and threaten the sovereignty of Thailand. The Bangkok Post also reports that crypto traders are leading the charge to “establish micronations,” exploiting a loophole in international law, thereby making the local authorities toothless against him.

South Korean Lawmaker Urges Improvement on Blockchain and Crypto Regulation

South Korean Lawmaker Urges Improvement on Blockchain and Crypto Regulation

The lawmakers in South Korea have pressurized the country to improve the existing cryptocurrency and blockchain regulation imposed by the local practitioners. A representative of the Democratic Party, Min Byung-doo commented, “The government said it would lower regulation barriers, but cryptocurrency and blockchain are not subject to this, which is a contradiction.”

Thor Accuses Regulator For Its $21mn Loss

Thor Accuses Regulator For Its $21mn Loss

The San Francisco-based company, which functions on vision to disrupt the trillion-dollar gig economy through the use of the blockchain has complained on regulator. David Chin, CEO & co-founder of Thor laments, “Unfortunately, we did not achieve the commercial success we were looking for. Thor ran into many regulatory challenges while operating that prevented us from achieving what we set out to in our white paper.”

Busan City Chose for Blockchain Regulation-free Zone Project

Busan City Chose for Blockchain Regulation-free Zone Project

Busan City has been preferred for blockchain regulation-free zone project by the Ministry of SMEs and Startups. The final examination and designation will be done by the Ministry of SMEs and Startups of the country on this coming July where Busan City will be competing with Jeju province for the same designation.

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

The number of fake celebrity endorsement on cryptocurrency in the Netherlands has shown a worryingly increasing number. Numerous scam cryptocurrency website are using celebrities fake quotes as a bait to trap potential investors. Around 1.7M Euros worth of damage have been reported to the Fraud Help Desk since the year 2018 and only five fraudulent websites have been exposed.