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The chair of the U.S. Commodity Futures Trading Commission (CFTC) has said that he wants to adopt blockchain to “keep pace with those who attempt to defraud, distort, or manipulate” financial markets. CFTC Chairman Giancarlo Envisions Compliance Built into Business Operations Through Smart Contracts J. Christopher Giancarlo spoke...
The government of Thailand has announced plans to adopt distributed ledger technology to fight tax avoidance. Director-general Ekniti Nitithanprapas said the Revenue Department intends to use blockchain to verify whether taxes were paid correctly and to speed up the tax refund process. Thai Government Announces Plan to Use Blockchain...
Brazil’s tax regulator, the Department of Federal Revenue, is requiring local cryptocurrency exchanges to report their operations on a monthly basis in order to verify tax compliance and improve the country’s fight against money laundering and corruption. Brazillian Cryptocurrency Exchanges to Report Monthly Trading Data to Authorities Citing...
Denmark-based cryptography specialist Sepior has partnered with Japanese online financial services firm SBI Group to jointly develop a proprietary wallet on SBI’s Virtual Currencies exchange platform, VCTRADE. Cryptography Specialist Sepior Agrees to Boost VCTRADE’s Security With Threshold Wallet Technology The financial services giant licensed Sepior’s Threshold Wallet technology, which...
The Financial Conduct Authority, UK’s financial watchdog, is reminding consumers that cryptocurrency scams are rising in the country. Residents in the United Kingdom who decide to invest in Bitcoin or any other virtual currency are not protected by the regulatory framework given that cryptocurrencies are not regulated by...
Japan, the leading country in digital currency adoption, has over 3.5 million cryptocurrency investors, according to a preliminary report by the country’s Financial Services Agency on Tuesday. Japan Has Over 3.5 Million Cryptocurrency Investors, Says FSA The Financial Services Agency (FSA), Japan’s financial watchdog, has published a report...
The Chilean National Energy Commission announced it has adopted Ethereum’s blockchain technology in March and became the country’s first public entity to do so. Chile’s National Energy Commission Adopts Ethereum Blockchain Andrés Romero, the executive secretary of the National Energy Commission, announced that the regulatory entity is using blockchain...
The top brass at one of the UK’s leading financial regulators has given a stark warning to those investing in Bitcoin. Andrew Bailey of the Financial Conduct Authority said that people who had bought Bitcoin better be prepared to “lose all their money”. Presumably, he meant just the...
Criminals often use malware to attack financial institutions around the world. In most cases, these efforts are more than successful, creating a strain on the financial ecosystem. Things are getting out of hand in Poland, though, as the financial regulator allegedly infected various banks with malware. A rather...
In a report titled “Bitcoin at the crossroads,” released by Deloitte Center for Regulatory Strategies, the issue of regulation of Bitcoin has been discussed at length. The report gives a quick introduction of the virtual currency Bitcoin and its technology blockchain and then swiftly moves on to the...
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