Bitcoin 

Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC is the largest bank in Canada by market capitalization, with $660 billion in assets under management.  According to The Logic, the bank is entertaining the possibility for the exchange to function both for investments and…

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Bitcoin 

‘Bullish for Bitcoin’ — China Scraps Plans to Ban Cryptocurrency Mining

Bitcoin (BTC) mining will not face a state crackdown in China, authorities have confirmed in new official documents. As noted by Blockstream CSO Samson Mow and others on Nov. 6, mining no longer features on a list of industries Beijing considers undesirable.  “Bullish for Bitcoin” The change came via a new edition of China’s Industrial Structure Adjustment Guidance Catalog, which will take effect from the start of 2020. “China’s National Development and Reform Commission has removed #cryptocurrency mining from the list of industries they want to eliminate. Bullish for #Bitcoin,”…

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Bitcoin 

Bitcoin Ban Means India Will Get More Corrupt Under Modi — Tim Draper

India is leaving itself vulnerable to corruption by attempting to ban cryptocurrencies such as Bitcoin (BTC), says Tim Draper.  Speaking to California-based media outlet Indica on Oct. 31, the pro-Bitcoin VC investor called on prime minister Narendra Modi to rethink the current hostile environment towards crypto.  Draper to Modi: don’t “go back to old ways” India banned banks servicing industry businesses in 2018, with government think tanks now recommending a full crackdown on ownership and use. A court battle to decide the final outcome saw its latest delay last month. …

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Bitcoin 

Alipay to Ban All Bitcoin-Related Transactions

Alipay, a digital payment arm of Chinese e-commerce giant Alibaba, declared that it will be banning any transactions related to Bitcoin (BTC) or other cryptocurrencies. Combating illicit players On Oct. 10, Alipay has reiterated its anti-crypto stance in a Twitter thread, elaborating that the company is closely monitoring over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. Alipay wrote: “If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.” This move comes amid various reports that…

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Bitcoin 

Coinshares Urges Customers to Fight UK Regulator’s Ban on Crypto ETNs

The United Kingdom’s Financial Conduct Authority (FCA) is proposing to ban cryptocurrency exchange-traded notes (ETNs) — but Coinshares, a U.K.-based regulated public exchange, disagrees with that proposal. Claims of insufficient evidence  In a Sept. 23 letter on its website, Coinshares claimed the FCA has not provided enough evidence to justify the proposed ban on crypto ETNs — warning its customers that they will no longer be able to trade such products if the ban is approved. The company added:  “We believe that the FCA has not provided sufficient evidence to justify the…

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Bitcoin 

Supreme Court Gives Central Bank 2 Weeks to Justify Crypto Ban

India’s supreme court has slammed the country’s central bank over its handling of a cryptocurrency business ban and ordered it to address complaints. Judge: RBI has not properly responded to representation In the latest session of an ongoing hearing into the actions of the Reserve Bank of India (RBI) on Aug. 21, the Court ruled officials had not appropriately responded to concerns from the cryptocurrency industry over its actions.  The RBI forbade banks servicing crypto operators such as exchanges in July 2018, effectively ending the ability for such platforms to…

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Blockchain 

Major Indian Trade Organization Speaks Out Against Proposed Crypto Ban

Nasscom, a major Indain trade organization, has said that it is against a blanket ban on cryptocurrencies, which was recently proposed by a governmental panel in the country According to a report by local financial periodical The Economic Times on July 30, Nasscom commented: “Nasscom believes that the recent proposal of the inter-ministerial committee of the government to ban all cryptocurrencies barring those that are backed by the government, is not the most constructive measure. […] Instead, the government should work towards developing a risk-based framework to regulate and monitor…

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Ethereum 

Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Last week, Bitcoin (BTC) was legally recognized by a Chinese court, whereby it was concluded that the cryptocurrency should now be considered as digital property. The decision that the Hangzhou Internet Court made in a ruling was met with enthusiasm from some community members, who assumed that Bitcoin is now legal in the People’s Republic of China (PRC) — famously one of the harshest jurisdictions for digital currencies in the world — and that the local government might soon ease its pressure on Bitcoin. However, some experts are less confident…

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Ethereum 

Indian Gov’t Panel Recommends a Blanket Ban on Cryptocurrencies

An Indian government panel recommended a ban on cryptocurrencies, Reuters reports on July 22. Is India finally about to ban cryptocurrencies? The panel recommended to the government today to ban cryptocurrencies and impose sanctions for any dealings involving crypto assets. Reuters adds that, according to a government statement, the report and draft legislation released by the panel behind the recommendation will be examined by regulators and the government before taking a final decision. A local ban is not surprising Earlier this month, India’s Minister of State for Finance Anurag Thakur…

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Blockchain 

No Official Ban on Cryptocurrencies in India Yet

India’s Minister of State for Finance Anurag Thakur has said that there is no law in India expressly prohibiting the use of cryptocurrencies. Local media outlet Inc42 reported Thakur’s statement on July 19,  The statement came during a recent exchange between a Member of Parliament (MP) and Thakur inside of Rajya Sabha — the “Council of States” or upper house of Indian legislature. MP Dharmapuri Srinivas reportedly asked Thakur about whether cryptocurrency was actually illegal. Srinivas apparently followed up his first question on legality with others on information and enforcement,…

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