Blockchain 

Blockchain Financial Firm Diginex Goes Public in Reverse Merger With 8i

Hong Kong-based blockchain financial services firm Diginex Ltd. is scheduled to go public through a reverse merger with investment holding company 8i Enterprises Acquisition Corp. Subsequently, the firm will be listed on the Nasdaq, Bloomberg reported on July 10. Diginex is reportedly going to close a reverse merger deal with 8i, which will reportedly amount to $276 million including debt. Diginex shareholders will reportedly get 20 million ordinary shares of 8i, valued at $10 per share. According to Diginex’s CEO Richard Byworth the deal is set to ensure “broader market…

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Ethereum 

Square Rolls Out Bitcoin Deposits for Cash App to General Public

San Francisco-based payments company Square has just made bitcoin (BTC) deposits available on its Cash App on June 26  Cash App users will now be able to deposit bitcoins from external wallets into their app bitcoin address. According to Square’s announcement, deposits are limited to $10,000 worth of bitcoin in a seven day period. It also notes that transfers could take several hours to be confirmed on the blockchain. As noted by Coindesk, Square apparently made bitcoin deposits previously available for some users. Twitter user and self-proclaimed “Bitcoin Permabull” Dennis…

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Blockchain 

CDU and CSU Union to Integrate Blockchain Into Public Services

In Germany, the CDU and CSU Union wants to integrate blockchain technology into public services, Cointelegraph’s German-language version reported on June 25. The CDU and CSU Union represents the centre-right Christian democratic political alliance of two parties in Germany, the Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU). In the original announcement published earlier today, the Union revealed that it wants to use blockchain for public service tasks such as administrative services, electronic health records, document protection, and registration. Specifically, the CDU and CSU Union…

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Blockchain 

Gov’t of Brazil to Consider Bill Requiring Public Administration to Promote Blockchain

The Brazilian government will consider a draft bill that requires all units of local public administrations to promote new technologies such as blockchain, Cointelegraph Brazil reports on June 11. The new bill, PL 3443/2019, was filed by a group of ten federal officials from different political parties and states with the lower house of the National Congress of Brazil, Chamber of Deputies, on June 11. As specified in the title of the document, the proposed draft bill provides the “Digital Provision of Public Services in Public Administration — Digital Government.”…

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Bitcoin 

California Public Accounts Seek Clarity on Cryptocurrency Holdings

The California Society of Certified Public Accountants (CalCPA) is seeking clarity on cryptocurrency holdings from the Financial Accounting Standards Board (FASB), according to a recent letter obtained by Cointelegraph. In the letter, CalCPA stated that accounting for digital currencies is not adequately captured under existing United States Generally Accepted Accounting Principles (GAAP) established by the FASB, and should be generally aligned with the accounting model for a foreign currency. The organization said that many of the features and risks of cryptocurrencies are similar to those of foreign currency. The society…

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Bitcoin 

Global Securities Regulator Seeks Public Feedback on Regulating Crypto Trading Platforms

Global securities regulation standard setter, the International Organization of Securities Commissions (IOSCO), has published a consultation paper on regulating crypto asset trading platforms (CTPs). IOSCO publicized the paper in an official news release on May 28. According to the news release, IOSCO’s membership regulates over 95% of the world’s securities markets in more than 115 jurisdictions. The activities of the organization aim to develop and promote adherence to an internationally recognized, consistent standard for regulatory oversight and enforcement within the global securities sector. The new consultation paper — entitled “Issues,…

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Blockchain 

German Watchdog Warns Public About Alleged Hiring by Crypto Exchange CoinBene

The Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, has issued a public warning about cryptocurrency exchange CoinBene on May 28. The watchdog says that CoinBene has been recruiting freelance crypto traders who get paid on commission. BaFin states that since crypto assets are financial instruments, trading them requires authorization under Germany’s Banking Act, or Kreditwesengesetz (KWG). BaFin states that CoinBene is not listed in Germany’s commercial register and has not obtained proper licensure for trading crypto assets as required by the KWG. CoinBene has previously responded to inquiries regarding…

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Blockchain 

Russian State Tests Blockchain-Based Application for Public Administration

The Russian state of Nizhny Novgorod is testing the use of the blockchain-based application “City N” for public administration tasks, according to a report by ForkLog on May 28. State residents will reportedly be able to file their taxes on the blockchain-based Vostok platform using the City N application. Other services of the application include the ability to verify the identity of Nizhny Novgorod residents, as well as being able to track expenditures residents have paid to the states budget via the online portal of public services Gosuslugi. Governor of…

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Blockchain 

UK Financial Watchdog Warns Public of Crypto Clone Firm

The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), warned that ICAP Crypto is a clone firm in a public announcement on May 24. According to the report, ICAP Crypto is a clone firm of ICAP Europe Limited. Clone firms are a type of scam in which the scammers use information from legitimate firms in an attempt to convince targets that they are genuine. In this case, ICAP Europe Limited is a legitimate firm that is authorized by the FCA, and its details are being propagated…

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Bitcoin 

Australian Securities and Investments Commission Warns Public Against New Crypto Scam

The Australian Securities and Investments Commission (ASIC) has issued another warning on May 21 against an alleged crypto-related scam project. According to the report, the Australian financial regulator has today published a warning against an alleged scam entity dealing under two names, Dartalon Ltd and GFC Investments. The ASIC has red flagged the entity, reportedly claiming that the business “has made unsolicited calls or sent emails about investing, financial advice, credit or loans,” while it does not possess either an Australian Financial Services license or an Australian Credit license from…

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