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Blockchain and Crypto related News

Why Regulation Could Help Bitcoin

Why Regulation Could Help Bitcoin

A couple of weeks ago, we published a piece called 'Why Regulating Bitcoin Won't Work'. Here Bob Swarup provides the counter argument, assessing what regulations could do for bitcoin. Bob has extensive global experience in financial markets, macroeconomics and regulation. He has also recently released his new book Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown.

Is it a commodity? Is it a currency? No, it's bitcoin.

Shanghai Court Rules Ethereum is Protected Under the Law as Property

Shanghai Court Rules Ethereum is Protected Under the Law as Property

The Shanghai Hongkou District Court ruled that Ethereum and other cryptocurrencies are not classified as money but have the same legal protection as owning property, a post on Baidu, the Chinese internet search engine portal similar to Google, said.

The case stemmed from the fundraising done by a Beijing-based technology company in August 2017 involving Bitcoin and Ethereum. However, the company was forced to return the company to investors after the Chinese government ordered a ban on initial coin offerings.

US States Take The Lead on Crypto Adoption

US States Take The Lead on Crypto Adoption

It is no secret that governments around the world are reluctant to fully recognize crypto as legal tender. Nevertheless, its growing popularity, and the increasing adoption of blockchain technology, is a movement that cannot be ignored. This fact has created a quandary for central governments, as they struggle to find a place for decentralized assets within their current financial systems. In the United States, the government regards cryptocurrency as property, but is unwilling to take further actions regarding legitimizing it as an asset. However, federal inaction has led to U.S. states taking independent steps to join the crypto revolution, which is likely to have far-reaching ramifications on the legal and regulatory status of blockchain assets.

Australian Bitcoin & Cryptocurrency Tax Laws 101

Australian Bitcoin & Cryptocurrency Tax Laws 101

Regulatory bodies around the world are scrambling to keep up with the rapidly evolving blockchain industry, driven largely by the massive amounts of profits generated by cryptocurrency traders. With new crypto-millionaires being minted by the thousands, it’s easy to forget about the potential tax implications of digital currency under Australian tax law.

Business Booming for S Korean Crypto Lawyers

Business Booming for S Korean Crypto Lawyers

The number of large South Korean law firms specializing in cryptocurrency, blockchain and fintech-related matters is growing fast, says a new report – providing much-needed support for the country’s beleaguered cryptocurrency exchanges.

Russian Crypto Law Taking Shape

Russian Crypto Law Taking Shape

A Russian politician says the country’s forthcoming “crypto law” is already being considered as legally binding by the country’s courts.

Alexey Mostovshchikov, chairman of the Council on Economics and Entrepreneurship of the Youth Parliament under the State Duma, said, per Russia’s Parliamentary Gazette, “Even though the law has not yet been passed, its conditions are already being taken into account by Russian courts.”

Dutch Central Bank to Create Prototype Blockchain-Based Currency

Dutch Central Bank to Create Prototype Blockchain-Based Currency

The Dutch central bank has committed to developing an internal blockchain prototype dubbed "DNBCoin", according to a recent publication.

Buried in the latest annual report from the De Nederlandsche Bank, published on 16th March, is a tiny item detailing the experiment. Elsewhere in the report, DNB posits that blockchain tech could improve its business – a possible indication of how it may look to apply lessons learned from the DNB project.

Described only as a "prototype coin based on blockchain technology", there are no details on the project's release or objectives. DNBcoin is mentioned under a heading that loosely translates to "aims for 2016", suggesting that the project is a priority for in-house developers this year.

Mentioned on several occasions during the report, blockchain technology is offered as possible cost-saver in the financial industry, though the central bank concedes it's early to say what possible applications might take shape in the years ahead.

Blockchain Adoption in Government

Blockchain Adoption in Government

There seems to be a popular narrative among many of the nations of the world with regard to blockchain technology and cryptocurrency. The summary of this narrative can be expressed succinctly as “blockchain is good while cryptos are bad.” A number of countries like China, India, France, and the UK that have either banned cryptocurrencies or are introducing strict crypto regulations are among some of the vocal proponents of blockchain technology. Their tough stance on the crypto market doesn’t stop them from recognizing the potential benefits that are inherent in the successful implementation of blockchain technology for government applications.