The chief of a village council in Ukraine, Maxim Golosnoy purchased a small amount of cryptocurrency. The earnings that Golosnoy generated from the cryptocurrency investments were distributed to the residents of Elizavetovka, Dnipropetrovsk region, as dividends. Golosnoy declared “No budgetary funds’ were spent for the investment and still the village residents get cryptocurrency
A United States District Judge of the United States District Court of the District of Maryland, Paul Grimm mentioned that the cryptocurrencies are not backed by ‘full faith and credit’ of the government. He advised the public to analyze the risks and added, “If you are looking at cryptocurrency as an investment, you should do due diligence.”
Finance Minister of Brazil has recently approved the residents to make cryptocurrency investment in the domestic market. Some rules and regulations relating to the cryptocurrency investment have been set by the country’s financial watchdog, Securities, and Exchange Commission of Brazil which will monitor the exchanges. The authorities are aimed at the prevention of illegal activities.
A survey conducted by Rathbone Investment Management has revealed that the residents living in London show high interest to invest in cryptocurrency than the rest of the country. The investment director of Rathbone, Hughes-Penney explained, “Lucrative returns made by the early adopters of bitcoin and other cryptocurrencies have been widely publicised.”
A survey by Harris Insight revealed that the 50 percent of the respondents who participated in the survey are likely to enter the cryptocurrency market. The CEO of Gem, a crypto startup, Micah Winkelspecht commented, “We find that younger people with less income are more willing to put money in crypto. My guess is that crypto is of the digital age.”
The Securities and Exchange Commission has issued a warning regarding the self-directed individual retirement accounts that are directed towards crypto investments. SEC highlighted that the cryptocurrency and initial coin offering could also be used by the fraudsters. Crypto investment would be “fair and lawful” but “may not provide complete or accurate information to aid investors in making informed decisions.”
The police have charged actor Jiratpisit “Boom” Jaravijit under a money laundering case. Jiratpisit has tricked a foreigner to invest 797 million baht in the digital currency. The complaint made to the police revealed that the foreigner was asked to transfer money in bitcoins for the purchase of shares in companies that invested in Dragon Coin currency.
One of the most well-established financial holding company in South Korea, KB Group has recently unveiled a report finding that only 2% of the respondents who participated in the study are willing to make crypto investments. This shows that the investors are cautious about the risks associated with the crypto market due to the volatility.
A stock exchange based in Germany, Boerse Stuttgart, has revealed its plan in introducing an end-to-end infrastructure facilitating cryptocurrency trading. CEO of Boerse Stuttgart, Alexander Höptner explained their plan to offer cryptocurrency suite and added, “As a Germany-based provider we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.”
A local press has reported that The Bank of Thailand (BoT) has announced that the local banks are permitted to deal with cryptocurrencies by establishing subsidiaries. The Thai banks can issue their own digital tokens, cryptocurrency brokerage services, and make investments through subsidiaries. The focus is to foster ‘financial innovation.’