On Friday, the European Union’s top banking regulator cautioned against government imposition of tight regulatory controls for cryptocurrencies. European Banking Authority (EBA) chief executive Andrea Enria suggested that governments should instead move to block government-regulated financial entities like banks from selling or holding digital currency.
The SEC shocked some crypto investors on Wednesday when it urged cryptocurrency exchanges to register and comply with the nation’s securities laws. Meanwhile, Commodity Futures Trading Commission (CFTC) head Brian Quintenz suggested that the cryptocurrency community should create its own oversight body to regulate the industry.
The U.S. Securities and Exchange Commission issued a statement on Wednesday that said many “online trading platforms” for cryptocurrency need to register with the agency or obtain an exemption. The statement comes in the wake of increased SEC scrutiny of digital currency and initial coin offerings.
Many digital currency enthusiasts were thrilled when Merriam-Webster added the word “Bitcoin” to its dictionary two years ago. On Monday, the company announced the addition of 850 new listings to its dictionary, including several additional crypto-related terms: cryptocurrency, blockchain, and initial coin offering.
JPMorgan Chase released its annual report on Tuesday, and for the first time identified digital currency innovation as a potential risk to the bank’s business services. The report suggested that the firm has been working to adapt its service offerings to keep pace with increased competition from tech companies utilizing the new technology.
On Monday, European Union financial services head Valdis Dombrovskis suggested that the EU is prepared to step in and regulate cryptocurrencies if the world fails to properly respond to existing risks posed by the sector. Dombrovskis spoke to reporters in the aftermath of a roundtable discussion, and said that action was needed to reduce cryptocurrency risks:
Earlier this month, the Arizona Senate passed a bill designed to allow taxpayers to use cryptocurrencies to pay their state income taxes. This week, Georgia state Senators Joshua McKoon and Michael Williams introduced a bill to provide the same benefit to their state’s residents, Senate Bill 464.
Cryptocurrency education platform DNotesEDU has announced a massive upgrade, offering expanded content that provides entry level educational material focusing on cryptocurrency and personal finance. According to DNotesEDU education director Brandon Cheliak, the changes are an effort to address the cryptocurrency market’s current lack of sound information about investor protection and education.
As human beings, we tend to mark the passage of time by holding certain dates and events in high regard – especially those dates that have a special meaning for us. That’s why we celebrate things like birthdays and anniversaries. They provide us an opportunity to take stock of where we’ve come from by celebrating specific milestones that have helped to bring us to where we are now. At DNotes, we’re now celebrating a very important milestone, as we prepare to enjoy our four-year anniversary. Yes, it’s been four years since DNotes first launched – and what a four-year journey it has been!
As part of that celebration, I would like to review the path we’ve taken to get to where we are, to better understand just how far we’ve come. In addition, I think it’s important to look at where we’re going in the immediate future as we roll out new features and services in the months and years to come. As anyone who has followed our progress over the last four years already knows, DNotes is an idea with world changing possibilities. I hope you’ll join me as we celebrate yet another milestone on the path to realizing its true potential.
An estimated 7% of all Americans are believed to own some type of cryptocurrency. According to early indications from tax firm Credit Karma, however, only a relatively small number of those people are apparently reporting digital currency gains and losses in this year’s tax filings.
When we created DNotes nearly four years ago, we knew that we wanted it to be a different kind of digital currency. After examining other cryptocurrencies, it was clear to us that none of them were well-positioned to bring the benefits of digital currency to the mainstream. From the beginning, DNotes was designed to fulfill this purpose. With our four-year anniversary on the horizon, it’s important to remember some of the important milestones that we’ve marked along the way. Two of the most significant of those milestones occurred with the creation of the DNotesVault and the CRISP programs. Both represent the type of innovation that today’s consumers want and need.
The state of Arizona moved one step closer to accepting digital currency for state income tax payments last night, after the state Senate voted to pass a bill designed to allow taxpayers to use cryptocurrencies to meet their tax obligations. Arizona Senate Bill 1091 was passed with 16 yeas, 13 nays, and one abstention.
Bitcoin and other digital currencies have been a hot topic at the 2018 World Economic Forum in Davos, Switzerland, as political leaders have called for increased regulation of the industry. Many of those leaders have expressed concerns about cryptocurrency’s potential use by criminals and other bad actors.
There are many tutorials online that will take you through the process of securing your wallet, step-by-step – and many of them are quite useful in that regard. However, your fortune could be at risk if you try to follow one of these tutorials after something goes wrong. To avoid that potential risk, it is critical to understand what it is that you are securing and what types of security risks threaten that security. That understanding can provide you with the insight you need to make your own decisions about which precautions you should take and determine the best bitcoin wallet for you. Understanding why you are doing something also makes it much less likely that you’ll make mistakes or follow the wrong instructions.
One of the main sources of frustration for those of us who are blockchain and cryptocurrency enthusiasts is the degree to which big companies and large financial institutions still don’t understand our industry. Earlier this week, one of New Zealand’s largest banks ASB released a blog post by their General Manager of Global Markets, Nigel Annett. We believe that post offers tremendous insight into how financial institutions and other major organizations are thinking about cryptocurrency and blockchain adoption.
The former Chair of the Federal Deposit Insurance Corporation (FDIC) recently said that regulators should move to monitor and regulate digital currencies, but argued that the government should not move to ban them. She made the remarks in an appearance on CNBC’s Fast Money, during a panel discussion about a potential crypto crackdown.
The U.S. Commodity Futures Trading Commission today announced two new enforcement actions related to alleged fraud in the cryptocurrency industry. The commission filed actions against US-based Cabbage Tech, Corp. DBA Coin Drops Market (CDM) and The Entrepreneurs Headquarters Limited, which is registered in the UK. Both entities are accused of various types of fraud involving digital currency tokens.
Initial coin offerings have been in the news quite a bit in recent months, as blockchain and digital currency startups have become increasingly reliant on them for their capital formation needs. By some estimates, more than 4 billion dollars in capital have been raised using this funding mechanism. The fact is that ICOs have become an increasingly popular option for raising capital. However, that popularity has been accompanied by increased government scrutiny.
DNotes Global Inc. announced on Tuesday that the company has partnered with technology firm Geneca to expand its development efforts in preparation for the launch of DNotes 2.0 in early 2018. According to the company’s press release, the partnership will help bolster the DNotes ecosystem and provide the technological boost DNotes needs to rapidly expand in the coming year.
It’s Christmas once again, and that means that it’s time for the traditional Christmas greetings and well-wishes. We asked the DNotes family to offer their own holiday greetings and Christmas cheer for our readers, and they responded as only they can. Without further ado, our Christmas wish for all of you: