Cryptocurrencies Unable to Replace Fiat Money: Chilean Central Bank
Crypto News

Cryptocurrencies Unable to Replace Fiat Money: Chilean Central Bank

The Central Bank of Chile (BCC) claims that cryptocurrencies are unable to substitute traditional money, according to a detailed report on crypto issued on February 7. The document, signed by the President of the central bank, Mario Marcel, was prepared upon request of the Tribunal de Defensa de la Libre …

Delay in Crypto Regulations May Create More Space for Technology
Crypto Regulation

Delay in Crypto Regulations May Create More Space for Technology

Last week a commissioner of the United States Securities and Exchange Commission (SEC) revealed that the delay in establishing crypto regulations might allow more freedom for the industry to move on its own. Heister Peirce, who is known as the “Crypto Mom” in the community for her disapproval for SEC’s decision …

Crypto Exchange Kraken Closes a $100M Deal
Crypto Exchange

Crypto Exchange Kraken Closes a $100M Deal

Kraken, which is one of the biggest crypto exchanges, has acquired digital assets worth at least $100 million from a start-up, Crypto Facilities. It is very well the biggest deal in the crypto industry this year. On Monday, the San Francisco based company announced that the big acquisition would allow …

Where does South Korea Stand on ICOs?
ICO News

Where does South Korea Stand on ICOs?

South Korea Still Wary of ICOs The current week saw South Korea’s decision to continue the ICO ban in the country, an effort which could prove to be beneficial for other big crypto markets in Asia. The virtual currency task force of the office for Government Policy Coordination released a …

Economic Mismanagement Increases Crypto Use in Iran
Crypto News

Economic Mismanagement Increases Crypto Use in Iran

Iran is currently facing an economic fiasco, and its government is planning to redenominate its currency, as reported by a local media. Iran’s central bank governor Abdolnaser Hemmati said, “A bill to remove four zeros from the national currency was presented by the government by the central bank yesterday and …

Crypto Essential for Surviving Digital Age: Circle CEO
Crypto News

Crypto Essential for Surviving the Digital Age: Circle CEO

Jeremy Allaire, the CEO of Circle, asserts that humanity can’t survive the digital age without crypto. The decentralized and resilient nature of crypto makes it an indispensable asset. Jeremy Allaire made the claims at the 2019 World Economic Forum in Davos, Switzerland. The Circle CEO believes that people who are …

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 …

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 …

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 …