A user contacted CCN with information related to Giga Watt, a Bitcoin mining company finally going out of business after declaring bankruptcy in November 2018. The firm lasted a little over a year, launching with an ICO model in September 2017. The business model of Giga Watt was slightly different than other hosted mining solutions.
In today’s edition of The Daily, we feature a couple of stories that show how, despite the current downturn in the cryptocurrency markets, different locations in the U.S. are competing to attract the industry. We also cover a new bitcoin investment trust application with the SEC and a rebranding of a crypto exchange.
NYC to Launch Blockchain Center
The New York City Economic Development Corporation has announced it has selected FuturePerfect Labs and Global Blockchain Business Council Future to launch and operate the NYC Blockchain Center meant to help foster the continued growth of the local industry.
South Korea’s top financial regulator has exclusively shared with news.Bitcoin.com information about six cryptocurrency-related bills that have been submitted to the National Assembly. The most recent bill seeks to protect the rights of crypto owners and to ensure the safety and reliability of crypto transactions.
Six Crypto-Related Bills
South Korea’s top financial regulator, the Financial Services Commission (FSC), exclusively shared some information with news.Bitcoin.com on Thursday about various crypto-related bills that have been submitted to the National Assembly. A spokesperson for the regulator said:
Two United States congressmen have introduced two pieces of legislation to help prevent alleged cryptocurrency price manipulation while aiming to position the U.S. at the forefront of innovation within the digital asset industry.
Protection From Price Manipulation
The Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018 task U.S. financial regulators with researching means to protect retail investors from price manipulation, while staking the global economic powerhouse’s share in the evolving financial technology.
Two US congressmen introduced bipartisan legislation designed to prevent cryptocurrency price manipulation and position the United States as a leader in the crypto industry. Democrat Rep. Darren Soto of Florida and Republican Rep. Ted Budd of North Carolina unveiled the following bills: Virtual Currency Consumer Protection Act. This bill directs the CFTC to explain how
The post US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation appeared first on CCN
From Washington to Moscow, cryptocurrencies have entered the agenda of those who share a vocation to rule and regulate. Following the congressional summer vacation, the House of Representatives passed a bill that will enable the Treasury to investigate crypto transactions, while a Congressman plans to introduce three drafts supporting the crypto industry. Also in The Daily on Sunday, UK lawmakers push for fintech rules, Russian bankers admit strong demand for crypto services, and the Financial Action Task Force is preparing to present global crypto standards in October.
The newly elected co-chair of the Congressional Blockchain Caucus, U.S. Representative Tom Emmer, has introduced a trio of blockchain-focused bills in support of the development and use of blockchain technology and digital assets. According to an official announcement, the bills focus on fostering government support for the blockchain space, clarifying money transmitter regulations and devising a tax scheme for hard forked assets.
A statement from Emmer reads in part:
“The United States should prioritize accelerating the development of blockchain technology and create an environment that enables the American private sector to lead on innovation and further growth.”
On Friday, Sept. a U.S. member of Congress announced that he will introduce three new bills aimed at supporting the development of blockchain technologies, as well as the use of cryptocurrency, within the United States. Rep. Emmer: U.S. Must Support Blockchain Development According to Rep. Tom Emmer (R-MN), the initiator of this bold move, the U.S. needs
The post U.S. Lawmaker Introduces 3 Pro-Cryptocurrency Bills to Congress appeared first on CCN
Draft laws employing alternative approaches to regulating digital currencies have been introduced in Ukraine and Russia. In Kiev, a bill that classifies cryptocurrency as an asset, unit of exchange and store of value has been filed in the Rada and it’s supported by both deputies and representatives of the industry. In Moscow, the managers of leading Russian enterprises have prepared their own version of the law on digital financial assets which contains the legal term “cryptocurrency” and differentiates it from tokens.
Cryptocurrency exchange Cointree has recently announced a partnership with Gobbill, an AI-enabled automated billing company, to allow Australian users to pay bills with their cryptocurrencies. Excited to finally announce our partnership with @gobbill , this partnership will enable automated bill payments with cryptocurrency! More via https://t.co/ZDyEhmtc1e #bills #crypto #fintech #blockchain #cryptocurrency #gobbill #cointreeau #AI pic.twitter.com/PJxdtd98ha […]
The post 99Bitcoins presents imaginative bills for popular cryptocurrencies appeared first on CoinReport.
The Maltese Parliament has passed three bills into law that establish a regulatory framework for the country’s blockchain sector, Malta Today reports.
Just last week, the Parliament “unanimously voted” to approve these bills in its second reading. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
Silvio Schembri, the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, shared an update on Twitter about the new development, which he believes will make Malta “the first world jurisdiction to provide legal certainty to this space.”
In Saturday’s Bitcoin in Brief, we cover some of the new expansion plans of leading cryptocurrency trading platforms. Singapore-based Huobi has confirmed its intentions to open an office in London, and US exchange Coinbase is about to do the same in Portland, Oregon. Also, a new crypto vault in Switzerland offers safe storage for cryptocurrencies, while the parliament in Valletta has approved three bills designed to increase the attractiveness of Malta for businesses in the crypto space.
While governments worldwide drag their feet and argue over cryptocurrency legislation, various states in the US are vying to become the blockchain capitol of the country. Arizona aims to allow state taxpayers the ability to pay their fair share with Bitcoin, while Tennessee looks to officially legitimize cryptocurrency purchases by making them legal on paper. Now, Wyoming is throwing its hat into the ring, with four blockchain boosting pieces of legislation up for consideration.
**On today’s episode of The Cryptoverse:**
I do an ICO review of WePower, an Ethereum based project that is building a new marketplace for green energy power plants, consumers and investors.
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