Ethereum 

UK Financial Regulator FCA Won’t Regulate Bitcoin and Ether

Major British regulator, the Financial Conduct Authority (FCA), will not regulate Bitcoin (BTC) as a part of its recent guidance on crypto assets. FCA finalizes its statement on crypto after a public consultation released in January On July 31, the FCA issued its finalized policy statement on cryptocurrencies in a document titled “PS19/22: Guidance on Cryptoassets.” The document represents an updated version of a consultation paper on crypto assets that was first released for public comment in January 2019, and intends to bring more regulatory clarity to the existing types…

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Bitcoin 

Libra Won’t Launch Until Regulators Are Satisfied

Benoit Coeure, a board member of the European Central Bank, said that Facebook’s Libra coin will not launch until global regulators are satisfied.  Speaking to Reuters at the G7 summit in Chantilly, France on July 18, Coeure said that the proposed stablecoin must be guaranteed to be safe for users before it can launch: “You’ve got to be safe, robust and resilient from day one. It’s not a learning process: either it works or it doesn’t.” Coeure stated that guaranteeing the protection of user privacy and ownership rights may require…

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Bitcoin 

Reasons Why US Government Won’t Ban Libra Cryptocurrency

Things are heating up for Libra: This week’s United States congressional hearings showed that many politicians are not convinced by the safety aspects of Facebook’s cryptocurrency project, as they grilled the social media giant on privacy- and trust-related issues. In response, Facebook keeps stressing Libra’s compliance with regulators and readiness to discuss possible frameworks. Meanwhile, a drafted bill titled “Keep Big Tech out of Finance” surfaced right before the testimonies before Congress took place. So, does the U.S. government have the power to terminate Libra — which is something Rep.…

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Blockchain 

EU Central Bank Won’t Add Bitcoin to Reserves — Says Its Not a Currency

The European Central Bank (ECB) doubled down on its dismissive stance on bitcoin (BTC) July 9, refusing to recognize it as currency in a Q&A session. Responding to a private query as part of its regular interactive Twitter program, which it administers under the hashtag ‘#AskECB,’ the bank said it had no plans to add bitcoin to its reserves. “Bitcoin is not a currency, it rather is an asset and it is very volatile,” officials wrote quoting chief economist, Philip Lane.  The response continues the ECB’s underwhelming reaction to cryptocurrency…

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Bitcoin 

Bitcoin Won’t Become Trillion-Dollar Asset Without More Bubbles

The CEO of instant cryptocurrency exchange platform ShapeShift told Bloomberg TV on May 15 that bubbles are an essential part of the industry’s growth. Speaking in an interview, Erik Voorhees argued that the volatility seen in bitcoin (BTC) and altcoin markets over the years is a necessary phenomenon for a nascent asset. “There have to be bubbles in crypto because crypto is taking over the world, and it’s not just going to advance 5% per month without end,” he told the network. He then added: “If it did that, people…

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Blockchain 

Central Bank Digital Currencies Won’t Be on Blockchain

American economist and notorious crypto critic Nouriel Roubini has argued that if and when central bank digital currencies (CBDCs) are adopted, they won’t be based on blockchain. Roubini — otherwise known as “Dr. Doom” for his prediction of the 2008 housing bubble collapse — made his comments during a joint panel with Ethereum (ETH) co-founder Vitalik Buterin at the Deconomy conference in Seoul, South Korea, on April 4, a Cointelegraph correspondent reports. As previously reported, CBDCs are distinct from cryptocurrencies in that they are digital currencies issued by a central…

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Bitcoin 

Crypto ‘Won’t Turn Out to Be a Complete Delusion’

British economic and financial historian Niall Ferguson says that cryptocurrencies will not turn out to have been a complete delusion, as he had once assumed. The historian — who authored a book on the history of currencies, “The Ascent of Money” —  made his remarks at a private event during the Australian Financial Review (AFR) Business Summit earlier this week, the AFR reported on March 6. “I was very wrong. Wrong to think there was no […] use for a form of currency based on blockchain technology,” Ferguson is reported…

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Bitcoin 

Cryptopia Won’t Resume Trading Until Balances Are Secure, Discord Message Notes

The New Zealand police have returned the office building back to recently hacked crypto exchange Cryptopia and granted permission to resume trading. However, the exchange is not ready to renew its activity, according to a message purportedly sent by a Cryptoptia staff member on the official Discord channel on Feb. 24. After the hack that led to more than $16.1 million stolen from the crypto exchange, New Zealand police had launched an investigation along with international law enforcement to track the hackers. The initial hacking attack began on Jan. 15…

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Blockchain 

Draft Crypto Legislation Won’t Be ‘Significantly’ Edited

Maxim Akimov, the deputy prime minister of Russia, announced that the authors of Russia’s draft cryptocurrency legislation were not planning on making any changes to the bill. His statement was reported by Russian information agency Finmarket, which specializing on the financial and commodity markets, on Dec. 11. The bill “On Digital Financial Assets” — approved by Russia’s parliament, the State Duma, back in May — has given rise to a lot of discussion within the Russian legal discourse since its first reading. Back in the fall, all crypto- and token-related…

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Bitcoin 

Digital Currency Use Won’t Replace Cash for Three-Five Years

The governor of the Bank of Thailand (BoT) has said that it will take three to five years for countries to switch from using cash to using digital currencies. The bank governor’s comments were reported by the Thai News Agency (TNA), a subsidiary of the Thai state-owned public broadcaster, Nov. 17.   The central bank’s governor, Dr. Veerathai Santiprabhob, stated that digital currency would not replace fiat currency right away “because of complication[s], a readiness of people and an efficiency of technology.” Although the BoT has not issued a central…

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