The Iranian Cabinet has released a newly-ratified bill that outlines the government’s position on digital assets and establishes conditions for cryptocurrency miners to operate within the country. According to Iranian media outlet PressTV, the government’s official position is that digital currencies are not recognized as legal tender in Iran, and the country’s central bank cannot ensure their value.
In July, President Trump responded to Facebook’s Libra cryptocurrency announcement by taking to Twitter to announce that he’s not a fan of Bitcoin or cryptocurrency. Former Trump strategist Steve Bannon recently took the opposite view, suggesting that Bitcoin and other digital currencies could play an important role in the future.
Huobi announced Wednesday that it is partnering with Global Digital Finance (GDF) to “develop best practices and standards within the digital asset community.” The move comes amid increased attention from policymakers around the globe, and continuing concerns about the industry’s lack of regulatory oversight.
Blockchain announced today that is has launched a new cryptocurrency exchange, The PIT, Reuters reports. According to the company, the new exchange relies on a matching engine called “Mercury” to provide trading at speeds faster than other exchanges in the industry today.
The United States filed a complaint this week against the BTC-e cryptocurrency exchange and its alleged operator Alexander Vinnik, seeking to recover civil monetary penalties assessed by the Financial Crimes Enforcement Network (FinCEN) in July 2017.
The United States Internal Revenue Service announced today that it is now in the process of sending warning letters to more than 10,000 U.S. taxpayers who trade cryptocurrency. The agency revealed that it began sending those letters last week and plans to complete the process by the end of next month, Yahoo Finance reports.
A new survey from digital currency asset management firm Greyscale Investments found that 36% of retail investors in the United States expressed interest in Bitcoin as an investment. The Bitcoin: 2019 Investment Study was conducted by the Q8 financial market research firm and offered insight into the “profiles and demographics of investors interested in the digital currency.”
California-based tech e-retailer Newegg announced on Wednesday that it will now accept Bitcoin as a payment option in 73 nations. According to the press release announcing the news, customers in “nearly all of the countries the company serves worldwide” can now use Bitcoin in Newegg’s online stores.
A new report from a government panel in India recommends that the country ban all private digital currencies, Reuters reports. If adopted into law, the panel’s recommendations would not only make such cryptocurrencies illegal in India but would also fine and jail Indians who are caught dealing with them.
U.S Representative Patrick McHenry (R-NC) told his fellow lawmakers this week that innovations like cryptocurrency are why the United States has such a vibrant economy. McHenry’s remarks came during a hearing on July 17, in which the Congressman referred to the innovative technology as an “unstoppable force.”
Japanese officials reportedly want to develop an international payment system for digital currencies that would be similar to the global SWIFT network currently used by the world’s financial institutions, Reuters reported on Thursday.
While some cryptocurrency fans may have been dismayed to see U.S. President Donald Trump criticize Bitcoin and other cryptocurrencies yesterday, leading advocates like Coinbase CEO Brian Armstrong and Fundstrat’s Tom Lee appear to disagree. Both men highlighted the benefits of having one of the world’s most high-profile personalities talking about the technology.
On Tuesday, Congressman Tom Emmer reintroduced cryptocurrency legislation that would provide safe harbor protection for taxpayers with digital assets, until the Internal Revenue Service provides more clarity on reporting gains and losses from digital currency forks.
Russia’s State Duma may be unable to pass the “On Digital Financial Assets” (DFA) cryptocurrency legislation until its autumn session, Russian media outlet TASS reported today. According to State Duma Committee on Financial Markets head Anatoly Aksakov, lawmakers have yet to reach agreement on the central question of how Russian law will treat cryptocurrencies.
The government of Abu Dhabi has warned residents to avoid a new Bitcoin trading scam that promises to make them rich in as little as seven days. According to a report from The National, the scheme falsely claims support from Sheikh Mohamed bin Zayed, the UAE’s Crown Prince:
The Bitcoin markets continued their rally on Wednesday, as trading sent the price of the world’s most well-known cryptocurrency past the $12,000 mark. During intraday trading, the price went even higher, passing the $13,000 milestone before plunging back below $12,000. At press time, Bitcoin’s price had recovered to $12,620.
Bitcoin’s recent rally continued on Saturday, as the price of the world’s most well-known digital currency briefly rose above $11,000, its highest value in more than a year. That surge came less than 24-hours after traders drove the price past $10,000 on Friday. The Bitcoin price was $10,595 at press time.
The Russian State Duma could approve a long-anticipated cryptocurrency bill within the next couple of weeks, according to a Tass media report. In remarks to journalists, Deputy Finance Minister Alexei Moiseev suggested that the country’s parliament could accept the bill in the second reading:
Cryptocurrency experts from the worlds of law enforcement and private industry gathered at Europol’s European Cybercrime Center in The Hague from June 12th to the 14th, for Europe’s biggest cryptocurrency law enforcement conference. Europol revealed to the conference attendees that it has partnered with the Centre of Excellence in Terrorism, Resilience, Intelligence and Organised Crime Research (CENTRIC) to develop a “serious game” to train investigators to trace cryptocurrency transactions.
Lithuania’s government is moving closer to initiating regulation of its cryptocurrency space after approving new rules this week, Lithuanian media outlet Delfi reports. The new regulatory measures are part of the country’s effort to reduce the risk of money laundering and terror financing.