India's Banking Research Institute to Implement Blockchain
Blockchain News

India’s Banking Research Institute to Implement Blockchain

The Institute for Development and Research in Banking Technology (IDRBT) of India recently published a blueprint on Blockchain implementation in the banking sector, the Financial Express, Indian daily newspaper reported on Tuesday, January 22. The Reserve Bank of India (RBI) established IDRBT in 1996 with the purpose of conducting research …

Crypto Fails the Basic Test of Financial Services: Bank of England Advisor
Cryptocurrency News

Crypto Fails the Basic Tests of Financial Services: Bank of England Adviser

The senior adviser to Bank of England’s (BOE) Governor Mark Carney, Huw van Steenis, told Bloomberg in an interview on Monday, January 21, that cryptocurrencies fail the fundamental financial tests. Van Steenis has worked at corporations with the likes of Schroders and Morgan Stanley. He joined BOE in 2018 and is …

Bitcoin Sustains Growth despite Price Slumps
Bitcoin News

Bitcoin Sustains Growth despite Price Slumps

Bitcoin was hardly recognized by anyone when it first launched in 2009. However, it quickly took the financial industry by storm, as it gained popularity in the following years. The project developed by an entity known as Satoshi Nakamoto, has turned into a global phenomenon with the potential to revolutionize …

Crypto Cards Safe to Use in Russia
Crypto News

Crypto Cards Safe to Use in Russia

A report from local media revealed that using cryptocurrency debit cards to purchase goods and services does not violate Russian law. Alexei Moiseev, Deputy Finance Minister, said that the Russian Finance Ministry receives a lot of queries regarding digital coins and their applications. In the Gaidar economic forum, an annual …

Investors Diligently make their Way into Crypto Industry
Crypto News

Investors Diligently make their Way into Crypto Industry

A partner at the Winklevoss Twins’ office, Sterling Witzke believes that 2019 will not be a turning point for institutional investors to get into cryptocurrency industry. In a recent interview, Witzke indicated the culmination of the 2017 crypto market bull run, the time when Bitcoin rose to all-time highs of …

Danish Tax Agency Gains Excess to Crypto Traders' Data
Crypto Exchange

Danish Tax Agency Gains Access to Crypto Traders’ Data

The Danish Tax Agency has acquired rights to gather traders’ information from local cryptocurrency exchanges to check if they are paying their taxes. The Danish Agency named the Skattestyrelsen has set precedence as it announced on Monday that this is the first time the country’s Tax Council has received the …

Mongolia's Cheap Electricity Attracts Japaneses Bitcoin Miners
Bitcoin Mining

Mongolia’s Cheap Electricity Attracts Japanese Bitcoin Miners

Cheap electricity and cold weather are proving to attract a growing number of Japanese bitcoin miners to Mongolia. A country which lies between two of the most powerful nations in the world; China and Russia. Tokyo-based e-wallet company, Ginco is currently carrying out its crypto mining operations in Ulaanbaatar, Mongolia’s capital. Ginco …

Cryptocurrencies don't require SEC's Supervision: US Congressman
Crypto Regulations

Cryptocurrencies don’t require SEC’s Supervision: US Congressman

On January 10, in an interview with the financial news channel Cheddar, Darren Soto, United States congressman asserted that many cryptocurrencies should not be under regulations of the country’s securities regulator. The Congressman believes that cryptocurrencies should be supervised by the Commodities and Futures Trading Commission (CFTC) and Federal Trade …

Belgian Non-Profit's Twitter Hacked for Fake Crypto Promotions
Crypto Scam

Belgian Non-Profit’s Twitter Hacked for Fake Crypto Promotions

A Belgian non-profit’s twitter account was hacked and turned into a fake affiliate account of United States based crypto exchange, Coinbase. A false giveaway promotion was posted through the hacked account. The tweet from the account allegedly celebrated Coinbase’s user base growth. The tweet was posted on January 9, and …

Central Banks Wary of Issuing Own Cryptocurrencies
Crypto News

Central Banks Wary of Issuing Own Cryptocurrencies

The Bank of International Settlements (BIS) recently published a survey indicating that many central banks are “proceeding cautiously” on issuing their cryptocurrencies. It also revealed that only a few are planning to do so in the near future. Swiss-based BIS conducted a survey involving 63 members of the central banks …