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Japan’s sixteen licensed digital currency exchanges have reportedly agreed to unite to create a new organization which will self-regulate the nation’s exchange marketplace. That entity will be called the Japanese Cryptocurrency Exchange Association, according to a report from media outlet Asahi Shimbun.
In a move that some media outlets are describing as an effort to ban cryptocurrencies, Iran’s Central Bank has directed banks and other financial institutions to avoid all crypto-related transactions. According to Bloomberg, the Islamic Republic News Agency reported that the ban applies to every finance-related institution in the country:
The Supreme Court of Russia has ordered the City Court in St. Petersburg to take up a complaint involving a ban on cryptocurrency-related websites. The decision on Friday directs that court to review an appeal of the 2016 District Court decision that blocked Bitcoininfo.ru, according to a report from The Russian Legal Information Agency (RAPSI).
During a meeting with my boss several months ago, he brought up a matter of scheduling – and I did not have my calendar in front of me. “What? No calendar?” he exclaimed. “You need to have your calendar with you; you need to write everything in it, and you need to bring it everywhere you go. That’s what people who have real jobs with real responsibilities do.”
Current San Francisco Federal Reserve president John Williams suggested in a speech on Friday that cryptocurrency is unlikely to replace the current fiat currency system, according to reporting from CNBC. Williams, who has led the San Francisco Fed since 2011, was recently chosen to take over as president of the New York Federal Reserve when William Dudley retires on June 17.
In an interview with Reuters, Monex Group CEO Oki Matsumoto reportedly suggested that Japan should exercise stricter regulatory authority over the nation’s digital currency exchanges. He compared the exchange services to those provided by banking institutions and said that a move toward tighter regulation is just “common sense.”
On Tuesday, the New York Attorney General’s office sent letters of inquiry to more than a dozen digital currency exchanges, requesting information about their ownership, user fees, money laundering, and other areas of concern. The move was welcomed by several large exchanges, including the Winklevoss-owned Gemini exchange. Kraken CEO Jesse Powell, however, announced on Twitter that his company will not comply with the request.
In a blog post this week, International Monetary Fund (IMF) Managing Director Christine Lagarde called for policymakers around the world to “keep an open mind” about cryptocurrencies and focus on developing what she called an “even-handed regulatory framework.” According to Lagarde, that approach will enable regulators to minimize potential risks in a way that doesn’t stifle creativity and innovation.
GameCredits has announced the introduction of a new desktop application that it is calling GShare. The company, which focuses on servicing the global gaming community, announced the news in a post on Medium. According to reports, the application is a redesigned version of an existing “signature application” that allowed its users to use GPU and CPU power to earn digital currency.
On Thursday, Indian digital currency exchange Coinsecure revealed the theft of roughly 438 Bitcoins, worth more than $3.5 million. This weekend, the company announced its plan to repay customers for their losses and launched a bounty program to reward anyone who helps the exchange recover those stolen Bitcoin.