Category Archives: Banking

Cryptos Don’t Pose Risks to Global Financial Stability

The Financial Stability Board (FSB), an international body that monitors the global financial system to promote stability and coordinates financial regulation for G20 nations has dismissed calls from some G20 members to regulate cryptocurrencies like bitcoin. In a letter [PPDF] sent to G20 finance ministers and central bank governors on the eve of this year’s G20 summit in Argentina, FSB chairman Mark Carney has stressed that cryptocurrencies do not represent a threat to the global financial system, following a review by the authority. Continue reading Cryptos Don’t Pose Risks to Global Financial Stability

Israel May Step Toward Cryptocurrency Support

In terms of technological innovation, Israel has been labeled by some as “The Startup Nation” with Israeli ventures raising over $5 billion in capital in 2017. This is almost 10% of China’s yearly fundraising total. While there’s a number of popular applications, platforms, and products including USB flash drives, the Waze navigation app, SodaStream carbonation machines, the country has set its foot in the crypto industry as well. Continue reading Israel May Step Toward Cryptocurrency Support

French Regulatory Agency Blacklists 15 Crypto Asset Websites

The French stock market regulator, The Autorite des Marches Financiers (AMF), announced in a press release that they have added 15 cryptocurrency and crypto-asset investment websites to a blacklist on March 15. The press release then lists 15 offending companies, who continued to advertise and market their services as investment opportunities to the French public, despite new regulations. The blacklist also contains businesses that unlawfully offered investments in commodities like rare earth metals, wine, and diamonds. Continue reading French Regulatory Agency Blacklists 15 Crypto Asset Websites

Puerto Rico Creates Blockchain Advisory Council

Puerto Rico’s Department of Economic Development and Commerce (DDEC) will be forming an advisory council to promote Blockchain use for businesses in the country, local news outlet El Nuevo Dîa reported Thursday, March 15. Department secretary Manuel Laboy, announced the creation of the council during the Blockchain Unbound conference that took place in San Juan, Puerto Rico this week from March 14-16. Continue reading Puerto Rico Creates Blockchain Advisory Council

Australia Warns of Scammers Collecting Taxes in Bitcoin

Australia’s official tax authority has warned the public of scammers purporting to be tax agents demanding cryptocurrencies like bitcoin for tax payments. The Australian Taxation Office (ATO) is alerting citizens of fraudsters impersonating the tax agency to seek payments of faux tax debts from unsuspecting victims in cryptocurrency. The scammers who purport to be ATO officials have been defrauding taxpayers since late 2017, the ATO said in a notice this week. According to ATO assistant commissioner Kath Anderson, scammers have so far conned over AUD$50,000 in bitcoin alone. Continue reading Australia Warns of Scammers Collecting Taxes in Bitcoin