Crypto Ban

Could the Chinese government reconsider its stance against cryptocurrencies? The country's National Development and Reform Commission (NDRC) recently published a report seeking public opinion on the matter. China has dictated multiple bans on Bitcoin over the past 8 years. However, the government may have the motivation to not altogether reject its adoption. China Consults the Public Earlier today, the commission published its report to its website under the "Soliciting Opinions" (translated) category. It states that central departments have revised one…

The crypto community just received another significant green light from a world superpower. Russian President Vladimir Putin recently stated that cryptocurrency “has the right to exist and can be used as a means of payment.” Russia Accepts Crypto Putin aired his thoughts in a recent interview with CNBC, when discussing alternative settlement means for crude oil contracts. Several months ago, Russia’s Deputy Prime Minister suggested that the country forgo dollar-denominated contracts in response to US sanctions. This spurred questions of…

In line with Jerome Powell’s comments last week, SEC chairman Gary Gensler confirms he has no plans to ban cryptocurrency. Instead, the SEC’s approach remains strictly on regulating the space and protecting consumers. Regulation: Banning, Says Gensler Gensler clarified his stance during a House hearing today in response to a question from Republican lawmaker Ted Budd. Representative Budd led the charge to amend dubious phrasing on cryptocurrency regulation in last month’s infrastructure bill. He also proposed an anti-crypto-terrorism bill in…

The Chinese Communist Party (CCP) has maintained a hostile relationship with bitcoin and other cryptocurrencies for years now. The leadership in the Asian country considers crypto a threat to its ability to exert overarching influence on individuals' freedoms. Peer-to-peer, distributed networks like Bitcoin offer folks the ability to evade government surveillance and capital controls. They have therefore become the CCP's worst nightmare. The Chinese government has continued to expand the scope of its crypto bans since 2013. That's how it…

Early 24th September, Bloomberg, one of the largest online news outlets, released fake news that drove crypto prices down. In the news, Bloomberg said that China's PBC termed all crypto transactions illegal. However, while the memo is available on the PBC website, the central bank originally on 15th September. Bloomberg Reports China's Crypto Bann China continues to add on its unrelenting determination on the crackdown against digital currencies in the country. The People's Bank of China (PBC) takes an aim…

The testy Sino-crypto relationship may have taken a turn for the worst following the country's latest decree on them. China has openly voiced its uneasiness with privately issued digital assets. For instance, in 2013, it banned Bitcoin(BTC) as a medium of exchange despite recognizing it as virtual property. The country then declared Initial Coin Offerings (ICOs) illegal. Now it has placed a ban on all crypto mining activities in the country. As expected, the crypto world experienced shocks following the…

In the 2021 budget, the government seeks to ban all private cryptocurrencies during the parliament budget session. According to a bulletin of the lower house of parliament, they will also put the structure for the digital currency issued by the Reserve Bank of India, allowing specific exceptions to promote blockchain, the underlying cryptocurrency technology it uses. The central bank is looking into the need for a digital version of the fiat currency and implementing it. The new bill has been…

2008 saw bitcoin's launch, following a whitepaper on its technology by an anonymous user called Satoshi Nakamoto. Bitcoin became the world's first cryptocurrency, and since then, there has been a rise of more than 10 thousand other alternative coins. Research shows that the user adoption of crypto in the US has risen to 5%, with bitcoin having a good share.  The introduction of Bitcoin technology caused upheaval across global financial systems. Many jurisdictions didn't understand how the new technology worked…

Tim Draper, the founder of Draper Venture Network and Draper University announced his intentions to invest in Indian crypto startups. The news follows the lifting of a ban on crypto trading in the country. A heavy critic of the ban by the Indian government, Draper is hopeful that the best ideas prevailing in the Indian crypto industry. The Indian Government is among several that are anti-crypto. He notes that the Supreme Court ruling signifies how best ideas ultimately prevail, having…