The United Nations Children’s Fund (UNICEF) has formally launched a fund to enable donors to make donations using the bitcoin and ether digital currencies, CNBC reports. The UNICEF cryptocurrency fund will be used for donation storage and distribution of those donations.
A class-action lawsuit filed on Sunday accuses Bitfinex and Tether of manipulating the price of Bitcoin, and “propping and popping the largest bubble in history,” Bloomberg reports. The lawsuit alleges that the defendants’ actions have likely caused damages of more than $1.4 trillion.
When asked this week whether his company would be launching its own cryptocurrency to compete with Facebook’s proposed Libra digital currency payment system, Apple CEO Tim Cook told the newspaper Les Echos that there are no plans for an Apple digital currency, CNBC reports.
Ohio Treasurer Robert Sprague announced yesterday that his office is immediately suspending the OhioCrypto.com site, which was launched last November by former Treasurer Josh Mandel to provide the state’s businesses with an option to pay their taxes using bitcoin.
A new survey from YouGov reveals that the vast majority of Americans have at least some passing familiarity with cryptocurrency. In fact, the researchers discovered that 81 percent of those surveyed reported that they had heard of at least one digital currency.
The Intercontinental Exchange’s Bakkt bitcoin futures trading officially launched on Sunday, with the first physically-deliverable bitcoin futures trade executed at a price of $10,115, according to a tweet from Bakkt. According to reports, trading was relatively slow, with only five contracts traded in the first hour and a little more than two-dozen completed within the next ten hours.
Securities and Exchange Commission Chairman Jay Clayton said Thursday that bitcoin will need to be more regulated before it can be traded on any major exchange, CNBC reports. Clayton made the remarks at the Delivering Alpha conference, where he was the featured opening speaker.
Traditionally, governments have held a monopoly over the economic systems and financial barter used in their nation. Today, however, with all the possibilities inherent in robust cryptocurrencies, large multinationals like Facebook, Twitter, and Google/YouTube see new opportunities to embed financial operations in their core business model.
Japanese messaging app giant LINE announced Tuesday that its new cryptocurrency exchange Bitmax is now open for live trading. In a company statement announcing the news, LINE confirmed that the service will initially be available on Android mobile devices and available to all Japanese residents with LINE accounts.
Twitter founder and longtime Bitcoin backer Jack Dorsey recently confirmed that he is still a Bitcoin believer, while noting that his company has no plans to create its own cryptocurrency. That’s according to comments he made to the Sydney Morning Herald during a recent Square promotion trip to Australia.
The Bank of the Republic of Burundi has banned cryptocurrency trading in the country, according to a recent Bloomberg report. The central bank’s decision was in response to public requests to intervene from citizens who suffered losses from digital currency trading.
The Netherlands central bank, De Nederlandsche Bank, announced Tuesday that it will start regulating cryptocurrency services on January 10, 2020, Reuters reports. According to the central bank’s statement announcing the news, digital asset companies in the Netherlands will need to register to do business in the country:
The Portuguese Tax and Customs Authority has confirmed that cryptocurrency users are not subject to the Value Added Tax (VAT) when trading digital assets or using them for payments, according to a report from Jornal de Negócios. In addition, the agency indicated that cryptocurrency use is also free from income tax obligations.
Bakkt announced today that it plans to launch its custody services and bitcoin futures products on September 23. In a blog post announcing the news, the company confirmed that the New York State Department of Financial Services has approved its New York trust charter, paving the way for Bakkt to launch its products.
The United States Securities and Exchange Commission has announced that it has delayed its decision on rule changes that could permit the Bitwise Bitcoin ETF Trust and VanEck SolidX Bitcoin Trust to begin trading. With the delay, the SEC won’t make a decision about the two funds until October at the earliest, Bloomberg reports.
A group of roughly 15 nations are reportedly planning to develop a new system that will facilitate collection and sharing of data related to consumers who engage in cryptocurrency transactions, the Nikkei Asian Review reports. The stated objective is to reduce the risk that cryptocurrencies might be used to fund terrorism, launder money, or facilitate other crimes.
Coinbase Custody Trust Company has added two former New York banking regulators to its board of directors. In a blog post, dated August 7, the company confirmed that Robert Easton and Richard Neiman were selected for their solid experience in “financial services, public policy and banking operations.”
North Carolina Republican Representative Ted Budd’s Virtual Value Tax Fix Act of 2019 has been reintroduced in the House of Representatives and referred to the House Committee on Ways and Means. The bill seeks to amend the Internal Revenue Code to “allow exclusion of gain or loss on like-kind exchanges of virtual currency.”
Security experts have long alleged that the North Korean government has been engaged in cyber theft designed to help fund its missile program, nuclear program, and other regime priorities. According to a new report from a United Nations panel, those attacks have enabled the regime to steal an estimated $2 billion in assets.
At least one official in Thailand wants to amend the country’s Anti-Money Laundering laws to ensure that cryptocurrencies are not used to facilitate crime. According to a report in the BangkokPost today, Thai Anti-Money Laundering Office (AMLO) secretary-general Maj Gen Preecha Charoensahayanon is convinced that money launderers will eventually use digital currencies to further their illicit schemes.