(March 26th, 2018) - Earlier this week, a Dutch court described bitcoin as a transferable value during a case that requested Koinz Trading BV to pay mining proceeds worth $5,000, or 0.591.
The court explicitly stated that property rights apply to bitcoin, given that as a cryptocurrency, it is able to transfer value in a peer-to-peer manner. The court went on to note that the cryptocurrency is a legitimate transferable value.
(March 26th, 2018) - Israel Securities Authority (ISA) Committee for the Examination and Regulation of Initial Coin Offerings (ICOs) issued a series of “recommendations designed to dispel uncertainty and strike a balance between technological innovation and the protection of the investors.” Included in their findings were whether cryptocurrencies such as bitcoin are considered securities – a decision carrying major implications for future regulation.
(March 26th, 2018) - After countless concerns, France is announcing the creation of a legislation that will regulate Initial Coin Offering (ICO) in order to support new projects, according to an announcement made by the French's Finance Minister.
(March 25th, 2018) - Yahoo Japan, the internet behemoth hailing from Japan, is planning to enter the market of cryptocurrency exchanges, if a report by Nikkei Asian review is to be believed. The move will cause a significant shift in the whole industry, as Yahoo Japan can change the rules of the game owing to its deep pockets.
(March 25th, 2018) - Two sitting ministers from the legislature of the Australian state of Queensland have revealed that they privately own bitcoin. The declarations have been made for the state’s register of members’ interests – which lists information including the properties, trusts, and union memberships of Queensland’s politicians.
(March 25th, 2018) - The Clarifying Lawful Overseas Use of Data (CLOUD) Act was passed along with the federal spending bill on Friday, March 23rd, 2018. The act allows law enforcement agencies to demand access to online information from any country in the world.
The CLOUD Act was introduced by Republican Senator Orrin Hatch, with the support of both Republican and Democratic Senators. It allows law enforcement agencies an easier route to access users electronic data such as emails, messages, and files, even if it’s stored on servers in another country. The act also creates a framework for U.S lawmakers to send information from U.S based servers to other countries on a case-by-case basis.
(March 24th, 2018) - The blockchain industry is indeed something. From all the twists and turns we have seen in this new technological environment, nothing is surprising anymore. This week Roberto Escobar, brother of the most notorious drug kingpin in history, Pablo Escobar, announced the launch of his digital currency called Diet Bitcoin (DDX).
(March 24th, 2018) - The United States Internal Revenue Service (IRS) recently published a document reminding taxpayers that income derived from virtual currency transactions must be reported on income tax returns. The IRS states that taxpayers who fail to report virtual currency earning may be audited or made liable for “penalties and interest.”
(March 24th, 2018) - FOMO, the fear of missing out, on the crazy gains that have been made in the crypto space has called some people to do some pretty crazy things. This includes students who are using money from their financial aid packages to buy cryptocurrencies.
Even more troublesome is that the students who are taking on the risks of crypto investing have student loan debt.
Let’s discuss the report that highlights this concerning phenomenon.
(March 23rd, 2018) - After reviewing several different locations, the company decided to invest in the European nation due to its existing pro-blockchain legislation and the stability that it offers financial technology companies through its regulatory framework. With plans to substantially grow its operations, there are plans to eventually hire up to 200 people to assist their expansion.