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The upcoming implementation of a major regulatory push by the European Union to control how companies can operate on the Internet has killed another venture in the cryptocurrency sphere. This story, astrology-based financial investment, and many more feature in today’s edition of Bitcoin in Brief.
Also Read: Marvel, The Simpsons Go Crypto
In today’s edition of Bitcoin in Brief we’re focusing on developments in the realm of international politics and economics regarding cryptocurrencies. The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies. Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade.
Also read: Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu
The majority of South Korean cryptocurrency exchanges are implementing new self-regulatory rules and performing self-inspection. The industry group in charge of leading the efforts has clarified the differences between the new and old self-regulatory rules for its 23 exchange members.
Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales
The Korean Blockchain Association, known for its efforts to spearhead self-regulation among the country’s cryptocurrency exchanges, has unveiled and clarified its self-regulatory rules.
The Central Bank of Taiwan is eyeing new rules that would bring bitcoin under the island’s existing anti-money laundering regulations.
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The Court of Amsterdam has found that bitcoin possesses “properties of wealth” following a civil rights case. Dutch repossession laws have been invoked to mandate the repayment of 0.591 BTC obliged by a contract between two individuals relating to bitcoin mining.
Also Read:The Race Between Segwit and Bitcoin Cash Is Heating Up
Earlier this week, the Court of Amsterdam published its findings in relation to a civil rights dispute between an individual and a private mining company.
The Financial Stability Board, G20’s global watchdog, does not consider cryptocurrencies a risk to financial stability. In a letter to the Group of 20 central bankers and finance ministers, its Chair Mark Carney said FSB was pivoting away from designing new policies and focusing on reviewing existing rules. His comments suggest there is no G20 consensus on common crypto regulations, despite calls from member-states for adopting global guidelines.
Japanese representatives will push for the adoption of global rules on cryptocurrencies at the upcoming G20 meeting in Argentina. Next week, the summit will gather finance ministers and central bankers in Buenos Aires. Other countries also want to put crypto matters on the table, with signals coming from key members of the European Union.
Also read: Excessive Crypto Regulation Not Optimal, EU Banking Authority Says
A U.S. district judge has backed the U.S. Commodity Futures Trading Commission in defining cryptocurrencies as commodities.
CoinDesk
The Abyss is launching its Token Sale. The project team is creating a revolutionary digital distribution gaming platform, where competition and struggle for clients are transformed into a mutually beneficial cooperation. Game developers will be able to push their projects forward with maximum efficiency and earn money not only from in-game payments but also from referrals and other activities. Players will also have numerous earnings opportunities.
Competition in the gaming industry is growing rapidly. In order to deliver their products to a broad audience, developers have to increase their marketing expenditures constantly. Thus, the competition between developers shifts from providing a quality product to the size of advertising budgets. This damages the whole gaming industry.
