Regulation

Liechtenstein Cryptoassets Exchange (LCX) announced that it would tokenize the upcoming Roe v. Wade feature film produced, written, and directed by Nick Loeb and Cathy Allyn.  The movie is a political-legal drama based on the true story of America's most controversial decision by the U.S. Supreme Court. According to director Loeb, the film focuses on "the women's rights movement versus the pro-life movement."  "It's a social war movie where we take both sides of the argument and hopefully let the audience…

Suppose you have been following the latest cryptocurrency surge. In that case, you will agree that China has played a leading role in the world of cryptocurrency, already ruling the hash rate war on the Bitcoin network. There are millions of Bitcoin traders in China, adding to the insinuation that China may go the way of Digital currency in the future.   Just recently, Reference News (参考消息), a media outlet with long-ties with the Chinese Communist Party, published a report with the…

Venezuela’s failing economy has often barred the country from the global financial system. Over the last few years, President Maduro has been turning to cryptocurrency to savor the failing economy.  The South American country has been at the forefront of cryptocurrency adoption, with several projects in play. The recent move by the government is accepting bitcoin for passport payments.  The news hit the country by storm after a twitter user put out a screenshot of the government website, showing cryptocurrency…

Alexander Vinnik was arrested in Greece on an extradition order from the U.S. as prosecutors said he allegedly controlled a Bitcoin exchange that laundered billions of dollars for criminal networks. After his arrest in 2017, he was extradited to France where he is still in custody. He was said to have allegedly laundered 300,000 Bitcoin (about $4 billion) within six years through BTC-e, one of the largest cryptocurrency exchanges in the world at the time. Further, he was accused of facilitating money…

The economic effects of the COVID-19 pandemic have driven discussions regarding the digitalization of economy with central bank digital currencies. This led a blockchain company in the United Kingdom to propose a central bank-issued digital currency (CDBC) system to the Bank of England. The company known as L3COS proposed an operating system based on blockchain for a CBDC to the Bank of England (BoE). According to the company, the proposal represents a response to the BoE’s consultation document released three months ago. The…

A recent report by TokenInsight noted that China is losing its dominance over the Bitcoin mining industry. The report released by the cryptocurrency analytics company cited data from Cambridge University’s Centre for Alternative Finance. According to the data, the aggregate electricity usage of Bitcoin miners from China was 75.63 percent in September last year and it declined to 65.08 percent by April 2020. During the same period, the data revealed that electricity consumption from Bitcoin miners in the United States rose from 4.06 percent to 7.24 percent. Similarly, it seems Bitcoin mining…

The United States government sent ten nominations and one withdrawal to the senate on June 2. One of the nominees is Hester Peirce who is affectionately called ‘Crypto Mom.’ According to the website of the White House, it seems she will serve on the U.S. Securities and Exchange Commission until 2025. “Hester Maria Peirce, of Ohio, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2025.  (Reappointment)” Pierce is among the individuals with great enthusiasm…

Someone or group stole users’ personal information from Canada-based cryptocurrency exchange and intends to use it to carry out a wave of SIM swapping attacks. The pseudonymous hacker spoke to media outlet Vice in an online chat on June 2. Based on a report by Vice, the perpetrators said they originally had the intention of selling the data but discovered that more money would be made by SIM swapping the accounts When it comes to SIM swapping, it has to do with cloning someone’s…

On May 27, the lower parliament in Antigua and Barbuda passed a cryptocurrency regulation bill to make the country a digital asset-friendly destination in the Caribbean. The cryptocurrency regulation bill is a regulatory framework known as “The Digital Assets Business Bill 2020,” aimed at regulating cryptocurrency firms operating on the island as well as in protecting both exchanges and their customers. One of the key features of the bill is the compulsory license which every business related to digital assets must obtain to…