Coinbase, Gemini Trust Among Dozens of Firms Granted Temporary Exemption from Singapore Crypto Licensing Requirement
The Monetary Authority of Singapore (MAS) announced this week that dozens of companies have received temporary exemptions from the recently-enacted Payments Services Act’s new licensing requirements. Among those companies listed in the announcement are major cryptocurrency firms like Coinbase, Binance, and Gemini Trust.
In April 2019, the Missoula County Board of Commissioners adopted new interim zoning regulations designed to address issues related to cryptocurrency mining in the country. In a unanimous decision, the board voted on Thursday to extend those regulations for another year beyond their original expiration date of April 3, 2020.
Boston blockchain analytics company Coin Metrics has completed a $6 million Series A funding round, according to a March 26 report from The Block. The successful round was led by Highland Capital Partners and several other investors, including Coinbase, Fidelity, Dragonfly Capital, and Digital Currency Group.
A New York federal judge has issued a preliminary injunction barring Telegram from issuing and distributing its GRAM digital tokens, the Block reports. The Court, applying the Howey test, determined that the distribution would violate the nation’s securities laws.
EY Japan has plans to launch a new blockchain-based tracking system called Sake Blockchain, Nikkei Asian Review reports. The system will allow data-sharing of information that can help sake producers more effectively authenticate their products and counter rival counterfeit offerings.
The U.S. Securities and Exchange Commission announced Friday that it has halted an alleged cryptocurrency scam and frozen related assets. In a press release, the commission confirmed that one of the accused fraudsters is a former Washington state senator, David Schmidt.
Argentinian natural gas regulators have approved an expansion of the blockchain-based Gasnet network to cover the entire nation. The system has previously been used by Gasnor, a local distributor which used Gasnet to track gas distribution to roughly 2 million people in Argentina.
Bakkt announced the completion of a $300 million Series B funding round, in a blog post on Monday. Investors include Intercontinental Exchange, Boston Consulting Group, PayU, Pantera Capital, CMT Digital, Goldfinch Partners, and Microsoft’s M12.
Organizers for the TEAMZ Blockchain Summit have officially announced that they are postponing the event until September 28, due to concerns about the coronavirus. The event is the largest blockchain-related gathering in Japan and was originally scheduled to begin in April.
Washington Federal Judge Rules in Favor of County in Electricity Rate Dispute with Cryptocurrency Miners
A federal judge in Washington has rejected cryptocurrency miners’ claims that Grant County’s new electricity rates for emerging industries violated their rights and federal law. In the ruling, Eastern District of Washington District Court Judge Rosanna Peterson determined that the plaintiff miners failed to show that Grant County violated any provisions of the Federal Power Act.
On March 10, the New York State Department of Financial Services issued guidance directing digital currency firms to provide the government with their coronavirus (COVID-19) preparedness plans. According to DFS, the move was necessary to ensure that companies have plans in place to deal with any financial or operational risks related to the virus outbreak.
The Supreme Court of India overturned a central bank ban on digital currency trading on Wednesday in a decision that struck down RBI’s 2018 decision barring the country’s banks from doing business with cryptocurrency exchanges. As CNN reports, the ruling is a victory for the digital currency exchanges that had challenged the central bank’s action, many of whom celebrated the high court’s decision.
A new cryptocurrency project relies on a novel – and some might say ghoulish – gimmick. The token, called CoronaCoin is designed to ensure that the number of coins in existence decreases as the number of Coronavirus cases around the world rises.
Warren Buffett, the billionaire CEO and Chairman of Berkshire Hathaway, vowed today that he will never own any cryptocurrency. He made that promise during a CNBC Squawk Box interview in which he reaffirmed his longtime disdain for digital currency.
Shopify announced yesterday that it will be joining the Libra Association. The e-commerce giant’s decision to become a member of the embattled cryptocurrency group comes after the association has suffered several high-profile defections in recent months, including founding payment service firms like Visa, Mastercard, and PayPal.
The Internal Revenue Service has apparently invited a number of cryptocurrency groups to participate in a summit on March 3, Bloomberg Tax reports. The agency summit is designed to foster a dialogue with industry leaders, companies, and other advocates to help the agency better understand how it can create a balance between regulatory enforcement and effective taxpayer service.
Cryptocurrency exchange giant Binance today unveiled Binance Cloud. In a blog post announcement, the company described the new service as “an infrastructure solution for customers and partners to launch digital asset exchanges launching Binance’s industry-leading technology, security, and liquidity.
Gemini today announced that it has integrated its services with the popular TradingView platform. According to the company, its institutional customers will now be able to directly trade or invest using the TradingView trading interface.
In an interview with the Financial Times published today, Mastercard CEO Ajay Banga cited concerns about compliance as one of the main reasons his company left Facebook’s Libra Project last October. At the same time, Banga criticized the development of national payment systems, expressing support for a common global system instead.
A recent HSB survey of small and medium-sized enterprises across the United States found that 36 percent of those businesses now accept cryptocurrency payments for their goods and services. In a press release, HSB also confirmed that 59 percent of respondent companies said that they’ve even purchased cryptocurrency.