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13 Jun

International Monetary Fund Advocates Central Bank Crypto Regulations

By Daniel Zo IMF, Bank, Regulations Read Comments

During the last couple of months, numerous monetary regulatory agencies have turned their eyes towards the digital currency market. Now, reports indicate that the International Monetary Fund is advocating for central banks to introduce regulatory policies, while also encouraging innovation on the fiat market.

Based on this, the deputy director for the Monetary and Capital Markets Department of the IMF has outlined a couple of responses meant to lower the rivalry present between banks and digital currencies. With this in mind, he mentioned that: “Central banks should continue to strive to make fiat currencies better and more stable units of account.” To do so, central banks should introduce measures meant to discourage money laundering and terrorism financing, while also protecting consumers and taxing digital currency transactions.


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30 May

South Korean National Assembly Committee Proposes Lifting Domestic ICO Ban

By Daniel Zo South Korea, ICO, Ban Read Comments

Despite the risks associated with Initial Coin Offerings, the trend has become extremely popular in areas throughout the world. In an effort to reduce the risk of fraud, money laundering and tax avoidance, several countries have banned ICOs.

South Korea was one of these, as the Financial Services Commission, a government department in-charge with financial policies and supervision, banned domestic ICOs in September 2017. Now, recent reports indicate that the South Korean National Assembly has proposed the idea of lifting the ban placed on domestic ICOs.


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17 Jan

South Korea Considers Banning Digital Currency Trading

By Daniel Zo Cryptocurrencies, Ban, South Korea Read Comments

Leaving aside the massive growth in value for Bitcoin in 2017, the digital currency is off to a rocky start in 2018. This is mostly due to increased volatility, given the end of the holiday season, alongside with several world events, with direct consequences in the bitcoin price.

Therefore, on the 9th of January, the bitcoin price plunged by roughly 13.5%, which is approximately $2,000, following news that South Korea is actively planning to ban digital currency trading within the country.


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16 Dec

Ethereum Reaches new All-Time High of $750

By Daniel Zo Ethereum, Ether, EU, Bank Read Comments

The last few months have been truly kind to the world of digital currencies, considering the fact that all major cryptocurrencies have reached unbelievable new all-time highs, thanks to increasing investor interest, bitcoin futures, and new blockchain and crypto-based platforms revolutionizing our current financial system from the ground up.

With this in mind, Ethereum, which is the world’s second biggest digital currency in terms of market capitalization has reached a new all-time high on Thursday, the 14th of December, with values first breaking the $600 threshold, and then surging even higher to $750. At the time of writing, the value of Ether, has decreased a bit, as it is currently trading at approximately $670.


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16 Oct

Will Malaysia End up Banning Digital Currencies Altogether?

By Daniel Zo Bitcoin, Cryptocurrency, Malaysia, Ban Read Comments

Digital currency regulation represents an issue that numerous governments throughout the world are dealing with, as the cryptocurrency ecosystem continues to evolve. In the case of Malaysia for instance, there are more and more talks about how and if bitcoin should be regulated, alongside with whether it should be banned entirely.

To put things better into perspective, reports suggest that the Central Bank is now taking a couple of cues from China, following a couple of statements that haven’t been positive towards digital currencies and possible regulation in the future. It is interesting to see how things changed, judging by the fact that in 2014, the BNM stated that: “The Bitcoin is not recognised as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.”


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03 Sep

Ethereum Creator Signs Deal with Russian Bank for Ethereum Russia

By Daniel Zo Ethereum, Russia, ETH, Bank Read Comments

During the last couple of months, Ethereum has had its ups and downs, yet at this time, it is close to nearing $400 in value for a single token, whereas the development of smart, decentralized applications based on smart contracts is at its peak.

Recent reports indicate that the founder of Ethereum, Vitalik Buterin, has recently signed a contract with the Russian State Bank for Foreign Economic Affairs and Development (VEB), to develop a separate entity, similar to the traditional one, named Ethereum Russia. The main purpose for this development is to help enhance the country’s abilities to create, adopt and implement blockchain technology.


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22 Mar

How The Blockchain Network Can Ensure Banking Security

By Daniel Zo Bitcoin, Blockchain, Banks Read Comments

During the last couple of months, banks and financial institutions have continuously showed their interest in bitcoin, for various purposes, such as digitally signing contracts, helping with monetary transfers and more.

Perhaps one of today’s biggest monetary challenges is the presence of hackers. While they cannot crash the entire world economy by ‘deleting’ money, they can cause a great deal of damage to banks and financial institutions by changing what computers think is real and true. This represents the main reason why banks are seeking a system that would guarantee the authenticity of data, by thoroughly analysing it, and keeping records on a ledger. Blockchain technology, which is quickly picking pace, can do exactly this.


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01 Mar

Understanding Banks: The hate for Bitcoin & The love for FIAT

By Daniel Zo Bitcoin, Blockchain, Banks Read Comments

In a world with an unstable financial system, and where bitcoin is slowly, but surely becoming the choice of exchange for millions of people, it is understandable that banks are against bitcoin, but so far, nobody is sure to which extent.

In this article, we will try to cover the main reasons explaining why banks often tend to hate Bitcoin, yet are very interested on its underlying ledger, the blockchain, and its potential on the market.


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08 Feb

Banks and Governments advising against bitcoin in India and Venezuela

By Daniel Zo Bitcoin, Ban, Venezuela, India Read Comments

During the last couple of months, numerous countries have expressed their opinions on digital currencies, such as Bitcoin. Not long ago, there’s been news related to bitcoin from both Venezuela and India, and it’s not positive.

In Venezuela, it seems like the authorities are becoming tired of hearing about the digital currency, and trying to regulate it. In fact, during the last couple of weeks, authorities in the country have managed to arrest a total of 8 bitcoin miners, who were later accused of stealing energy and cybercrime, whereas others were simply selling ASIC mining hardware. Not only this, but the main bitcoin exchange in Venezuela was also forced to close its doors down to future customers, and close their bank accounts as well.


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23 Jan

Report Showcases How Much Banks Can Potentially Save By Introducing Blockchain-Based Systems

By Daniel Zo Blockchain, Banks Read Comments

So far, there have been numerous reports regarding the positive influence that the blockchain network could play on banks from all around the world, yet no actual studies had been carried out.

Following the 2008 financial crisis, public and investment banks from all around the world had to deal with increased regulatory burdens, but also higher compliance costs that in turn led to increased interests and taxes for their clients. Innovation budgets were also lowered, thus explaining why we haven’t seen an evolution in the way banking is done in the last 10 years.


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