Bank of Japan (BoJ), the country’s central banking authority, currently has no plans to issue a central bank digital currency (CBDC), citing financial stability concerns. In a closing remark at a conference with the International Monetary Fund and Japan’s Financial…
Tag: Legal
Report: Kazakhstan’s Central Bank Wants to Ban Cryptocurrencies
The National Bank of Kazakhstan wants to ban cryptocurrency trading and mining in the European nation, its chairman said. Speaking to Sputnik News, Daniyar Akishev said the central bank is “taking [a] very conservative approach” towards cryptocurrencies, looking for “extremely…
What It’s Really Like to Talk to the SEC About Your ICO
It didn’t take long for Scott Nelson to realize he was only non-lawyer in the conference room. There amidst attorneys from various government agencies, including the SEC, the CEO of blockchain startup Sweetbridge and long-time logistics tech specialist was prepared…
A G20 Crypto Policy? Let’s Hope It’s a Pipe Dream
Marc Hochstein is the managing editor of CoinDesk. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. “Let’s form a committee to explore the formation of an exploratory committee!” OK, that’s not quite…
UK Government Minister Calls for ‘Proportionate’ Crypto Rules
The U.K.’s City Minister, John Glen, told reporters at the Treasury’s International Fintech conference on Thursday that “proportionate” regulations could give the local cryptocurrency industry a significant boost. In his comments, Glen said the government is still “engaged in trying…
Quebec Pushes Hydropower Utility to Halt New Bitcoin Mines
The Canadian province of Quebec has temporarily put a halt to the development of new cryptocurrency mining operations. The region – known for its cheap hydropower – has been an attractive destination for cryptocurrency miners looking to expand their businesses. Yet on…
Japan Warns Binance Exchange Over Licensing
Japan’s top financial regulator has issued a warning to cryptocurrency exchange Binance. In a statement published by the Financial Services Agency on Friday, the agency confirmed Thursday’s news that suggested Binance was about to be warned by the financial watchdog given…
American Bar to IRS: Create Safe Harbor for Hard-Forked Cryptos
The Internal Revenue Service (IRS) needs to establish guidelines on how Americans can report gains from hard-forked cryptocurrencies, the American Bar Association Section of Taxation said Tuesday. Section Chair Karen Hawkins wrote a letter noting that “several important developments in…
Tough Tokens: Theranos Fraud Holds Harsh Lessons for Crypto
Marc Hochstein is the managing editor of CoinDesk. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what…
Carney On Eve of G20: Cryptos Don’t Pose Risks to Financial Stability
An international group of central bank regulators and government ministers said Sunday that cryptocurrencies don’t pose a risk to global financial stability, comments that come on the eve of talks on the subject by the G-20. In a letter published…