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“# Upbit reportedly first crypto exchange to file with Korean regulators ” Major South Korean cryptocurrency company Upbit has reportedly submitted a business report with the Korean Financial Intelligence Unit (FIU). Upbit reported its digital asset business to the FIU, which operates under South Korea’s top financial regulator, the Financial Services Commission (FSC). Upbit’s operator,…
“# Chinese province to cut off Bitcoin miners from hydropower stations ” Regulators from Yingjiang County in Yunnan, China have issued strict warnings to hydroelectric plants against supplying power to enterprises involved in Bitcoin (BTC) mining. A recent report claimed that the Office of the People’s Government of Yingjiang County issued notice to hydropower plants…
“# Iran to lift Bitcoin mining ban in September ” Iran will once again allow Bitcoin and crypto miners to operate in the country from the last week of September. According to a report by Iran’s Financial Tribune, Tavanir, the country’s power generation organization, made the decision known earlier in August. As previously reported by Cointelegraph,…
“# Xiaomi India needs regulatory clarity to embrace crypto, says exec ” Xiaomi India — the subcontinent’s branch of the major mobile phone manufacturer — is interested in the cryptocurrency industry, but needs regulatory clarity from the government. The firm’s managing director, Manu Jain, said in an interview with The Economic Times, “We will want to wait…
“# Crypto ‘not protected by law,’ rules provincial high court in China ” Yet another blow has been dealt to China’s cryptocurrency community, with news of a new high court ruling in Northern Shandong province that has drawn out the consequences of crypto’s lack of legal status in the country. As the South China Morning…
“# Coinbase warns infrastructure bill’s crypto provisions could impact 20% of US population ” Coinbase’s Global VP of tax, Lawrence Zlatkin, has taken aim at the rushed cryptocurrency provisions added to Congress’ bipartisan infrastructure bill “at the last minute,” slamming lawmakers for hastily inserting amendments that could impact “60 million Americans.” In an Aug. 21…
“# Congress has put forward 18 bills on digital assets in 2021 so far ” The United States Congress appears to be pushing for greater regulatory clarity regarding crypto assets, having proposed18 bills concerning blockchain and cryptocurrency during 2021 so far. According to analysis published by former Federal Deposit Insurance Corporation regulator, Jason Brett, on…
“# Concerns around data privacy are rising, and blockchain is the solution ” Today’s consumers are willing to trade their data for personalization but have fast-growing concerns about data privacy. In a survey from a digital security and credential issuance company Entrust, only 21% of the respondents trust established global brands to keep their personal…
“# DeFi regulation must not kill the values behind decentralization ” Cryptocurrency brought us peer-to-peer payments that continue to elevate participation in the global economy for millions of people without access to traditional banking services. The rise of decentralized finance (DeFi) promises to further expand access to financial services, including savings, lending, derivatives, asset management…
“# DeFi needs more tangible assets on-chain to see a successful future ” In a business school lecture hall at the Massachusetts Institute of Technology (MIT), a senior executive for Safaricom gave a prediction of decentralized finance and the future of commerce to a room of keen but confused MBA students. “You will be able…