On Wednesday, Nasdaq CEO Adena Friedman suggested that Nasdaq could be open to “becoming a crypto exchange” at some point in the future, provided that the industry continues to mature and gain stability. Friedman made the comment during a Wednesday appearance on CNBC’s Squawk Box, noting that there were still industry issues that would need to be addressed before Nasdaq could consider adding that type of trading platform.
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.
Vietnam’s Prime Minister, Nguyễn Xuân Phúc, has issued a new directive that seeks to broaden the country’s efforts to better regulate cryptocurrencies, according to reports from Xinhua and local media outlets. The move was reportedly in response to increasing government concerns about trader vulnerability and the potential damage that digital currencies could do to the nation’s financial markets.
Lafayette City-Parish Mayor-President Joel Robideaux used part of his annual speech at the Heymann Center on Thursday to propose that his government develop its own digital currency. According to a report in the Acadiana Advocate, Robideaux described the Louisiana city-parish as a hub for new technologies, and suggested that it should use that position to create greater diversity in its economy.
ICOs or Initial Coin Offerings are used by cryptocurrency startups as a way of getting around the heavily regulated capital-raising process demanded by banks and investors. ICOs offer a percentage of the cryptocurrency for sale to early investors in exchange for fiat – or crypto – currency, but most commonly for Bitcoin. Because it is unregulated, it’s very popular in today’s crypto industry. According to Coinschedule, more than US $2bn was raised in March 2018 alone, and nearly US $5bn in the first financial quarter. Basically, they function like Initial Public Offerings (IPOs) or crowdfunding.
A Fatcats.market survey of Russian digital currency enthusiasts found that 12% of respondents said that cryptocurrency provides their primary source of income. The survey of 382 cryptocurrency users was compiled earlier this month and is expected to be updated with new findings as additional data is obtained.
In recent months, there have been several fatwas from Islamic leaders declaring cryptocurrency to be incompatible with Sharia Law. According to a new research paper from Blossom Finance Sharia advisor and compliance officer Mufti Muhammad Abu Bakar, however, digital currency not only meets the Islamic definition of money but is compliant with Sharia requirements as well.
Digital currency exchanges with operations in Australia have been given a deadline of May 14 2018 to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The government’s financial intelligence agency has been given the responsibility of regulating those exchanges using new cryptocurrency laws that will ensure that exchanges are subject to the provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act.
A new lawsuit against JP Morgan Chase was filed on Tuesday, accusing the financial giant of violating the Truth in Lending Act by imposing unannounced fees and high interest rates on customers who used the bank’s products to purchase digital currency. The suit alleges that Chase failed to provide the proper notice to its customers before applying significantly higher cash advance costs to those purchases.
DNotes Global, Inc. has released new directions for DNotes stakeholders, to ensure that they can properly participate in the coin swap for the new DNotes 2.0. The company is advising DNotes users to remove their coins from all exchanges by April 16th if they want to participate in the swap and exchange their old DNotes for the upgraded coins:
Last week, Poland’s Finance Ministry unveiled a new tax law interpretation for digital currency transactions – an interpretation that many have called draconian in its approach. Now, Polish cryptocurrency traders have responded by launching a petition on Change.org. That petition calls upon the government to reverse its decision so that the Polish people can take an active role in the digital currency and blockchain revolution.