Bitcoin News

japanese cryptocurrency

Japanese Regulators Reject Exchange Application in Surprise Move

In a move that surprised many in the cryptocurrency community, Japan’s Financial Services Agency rejected an application by a cryptocurrency exchange to operate within the country. After Japan announced its new licensing procedures, it allowed many exchanges to operate pending full regulatory approval. Now cryptocurrency exchange FSHO has had its application rejected, with the FSA pointing out severe deficiencies in the company’s compliance with know your customer (KYC) regulations. FSHO had previously been the subject of two FSA suspension orders [...]

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ether

Has SEC Decided That Ether Is Not a Security?

In an surprising announcement, it appears that the Securities and Exchange Commission (SEC) will likely find that the cryptocurrency ether is not a security. The announcement was made by SEC Director of Corporate Finance William Hinman at Yahoo Finance’s All Market Summit: Crypto. That could clear up a significant hurdle that could have ended Ethereum’s existence as the world’s number two cryptocurrency. Had ether been labeled a security, it would have meant additional scrutiny from SEC. Any company buying, selling, [...]

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ray clayton

SEC Ramping Up Cryptocurrency Efforts

Regulators around the world are taking an increasingly close look at cryptocurrencies, both well-established cryptocurrencies such as Bitcoin, Litecoin, and Ethereum as well as newer offerings such as initial coin offerings (ICOs). US regulators are no exception, with 2018 featuring perhaps more public commentary from regulators at the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) than in all previous years combined. And regulators aren’t just talking, they’re acting. From state regulators taking on fraudulent [...]

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new york cryptocurrency

New York State Legislature Proposes Cryptocurrency Task Force

It isn’t just regulatory agencies that have gotten involved in the cryptocurrency field, now legislatures are getting involved too. The New York state legislature is moving a bill that would establish a cryptocurrency task force that would study cryptocurrency business within the state of New York. If the bill passes, the task force would be required to submit on or before December 15, 2019 a report to the governor about the effects of widespread use of cryptocurrencies within the [...]

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ripple

Ripple Facing Lawsuit, Represented by Former SEC Chairman

Rising cryptocurrency Ripple is facing a class-action lawsuit from a disgruntled investor, and that could have serious ramifications not just for Ripple but also for Ethereum. The investor, who lost a little over $550 trading the Ripple XRP token, has alleged that XRP should have been registered as a security with the Securities and Exchange Commission (SEC). He apparently is looking to have over $300 million in XRP purchases rescinded. In response, Ripple has retained the services of Mary Jo [...]

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bitcoin brazil

Cryptocurrency Exchange Huobi Continues Foreign Expansion, Moves Into Brazil

After years of slow progress breaking into the mainstream, cryptocurrencies are having their breakout moment in 2017 and 2018. And cryptocurrency firms are expanding at a more rapid pace than ever. That’s perhaps nowhere more evident than with cryptocurrency exchanges, one of the backbones of the cryptocurrency world. Partially in response to government restrictions and partially due to their ability to expand, exchanges are taking advantage of their mobility and expanding their operations overseas. It doesn’t hurt that many countries [...]

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Steve Wozniak

Steve Wozniak Remains Bullish on Bitcoin

Apple co-founder Steve Wozniak remains bullish about the future of Bitcoin, echoing the comments of Twitter CEO Jack Dorsey about the future of Bitcoin as an international currency. Wozniak, who states that he only owns one bitcoin, believes that Bitcoin is “pure digital gold” and that no other cryptocurrency can compare to it. All other cryptocurrencies attempt that attempt to deviate from Bitcoin’s model end up disadvantaging themselves. One of the particular aspects of Bitcoin that appealed to Wozniak was [...]

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india bitcoin

India Considering New Taxes on Cryptocurrency Trades

With cryptocurrencies having become more and more popular in many countries around the world, the attitude among many regulatory authorities around the world has become more and more benign. No longer associated with the dark web, tax evasion, and nefarious activities, Bitcoin and cryptocurrencies are increasingly breaking into the financial mainstream. Regulators have taken a light touch in many countries thus far, even going so far as to propose regulatory regimes specifically designed for cryptocurrencies so as not to [...]

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bitcoin energy

Bitcoin Mining to Use 0.5% of World’s Energy by End of 2018

According to newly-published research, Bitcoin mining could end up using 0.5% of the world’s energy by the end of 2018. That’s a staggering figure, and one that will only continue to grow. The way the Bitcoin protocol is structured, mining is supposed to get progressively more difficult, while the number of bitcoins created is progressively diminished. This means that mining will only get more energy-intensive in the future. Already, countries such as Iceland are set to use more energy [...]

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swiss bitcoin

Swiss Government Looking Into Use of Cryptocurrency

The Swiss Federal Council has decided to request a report on the risks and feasibility of the Swiss government issuing its own digital currency, a so-called “e-franc.” The request still needs to be approved by the Swiss parliament, so nothing will necessarily be forthcoming. But more and more countries are beginning to look at the possibility of issuing their own national digital currencies as the popularity of Bitcoin and cryptocurrencies continues to grow. While Switzerland is perhaps known for its [...]

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