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.
Bakkt COO Adam White announced in a blog post today that the company will begin user acceptance testing for its anticipated Bitcoin futures on July 22, 2019. The platform’s futures product is expected to be followed by other cryptocurrency offerings in the future.
Some officials in Vancouver have taken aim at the city’s more than five dozen Bitcoin ATMs, with the mayor reportedly calling for a ban on the machines, The Star reports. The largely unregulated cryptocurrency ATMs have been criticized by Vancouver’s police as ideal vehicles for money laundering.
When central bankers and finance ministers from the Group of 20 (G20) countries meet in Fukuoka, Japan in June, they are reportedly hoping to come to an agreement on cryptocurrency exchange oversight. In fact, a report from Nikkei Asian Review on Friday suggests that they are eyeing the creation of a single registry for all cryptocurrency exchanges around the world.
U.S. telecom giant AT&T announced in a press release today that its customers will now be able to use BitPay to make online bill payments in cryptocurrency. With the announcement, the company declared itself the “first major U.S. mobile carrier” to offer its customers the ability to pay bills with digital currency.
Russia’s cryptocurrency legislation is reportedly “stuck” due to requirements demanded by the Financial Action Task Force Commission (FATF), TASS reported today. FATF has insisted that the country’s legislators revise the proposed Digital Financial Assets (DFA) bill to include crypto-related terms that lawmakers previously removed.
The Internal Revenue Services has responded to an April 11 letter from Congressman Tom Emmer and 20 other congressional representatives, which requested that the agency provide clearer tax guidelines for cryptocurrency users. In his response, IRS Commissioner Charles P. Rettig promised that he has made the issuance of those guidelines a priority for his agency.
Bitcoin’s price rallied by about 10 percent during the last 24 hours, and once again surpassed the $8,000 mark to settle on a press-time price of $8,201. That rally came after a chaotic week that saw prices push to around $8.300 before dropping about $1,000 in less than an hour. That drop was reportedly triggered by a large-volume sale on Bitstamp and subsequent panic selling by crypto traders.
The United States Securities and Exchange Commission (SEC) published a decision on Tuesday confirming that it has once again delayed any decision on Bitwise Asset Management’s proposed Bitcoin exchange-traded-fund, or ETF. In its filing, the regulatory agency requested public comment on the issue.
In remarks to an audience at CoinDesk Consensus in New York, U.S. Treasury Department Terrorism and Financial Intelligence Under Secretary Sigal Mandelker called on the cryptocurrency industry to do more to comply with anti-money laundering and counter-terrorist financing (AML/CTF) regulations. During that speech, she suggested that industry actors have a duty to serve U.S. national security, Yahoo Finance reports.
Bitcoin’s price has surged in the last 24 hours, pushing past $6,900 and approaching the $7,000 mark. The world’s most well-known cryptocurrency’s sudden price bounce also appears to have buoyed the broader crypto markets, as other major coins like bitcoin cash, Ethereum, and Litecoin all enjoyed roughly double-digit price increases during that same period.
On Thursday, U.S. Congressman Brad Sherman asked his colleagues to join him in supporting legislation that would ban cryptocurrencies in the United States. The non-profit Coin Center confirmed the California Democrat’s statement by posting a video of his comments on Twitter.
Facebook has announced that it will be easing restrictions on cryptocurrency and blockchain-related advertising. The company had banned cryptocurrency and initial coin offering ads in January 2018, citing concerns about potential advertising scams. This latest move comes on the heels of last June’s decision to allow some advertising for advertisers who obtain written pre-approval from the company.
Binance confirmed on Wednesday that hackers had breached its security and stolen 7,000 Bitcoin, worth roughly $ 40 million. CEO Zhao Changpeng described the hack in a bog post on the Binance website, and promised users that the company’s safety fund would cover any potential customer losses: