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Bitcoin Gives Way To Ruble: Putin Signs Law Banning Crypto Payments In Russia

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Bitcoin and other types of crypto has just been outlawed in Russia by no less than the commander in chief himself.

A Russian legislative support system website said that on Saturday, Russian President Vladimir Putin approved a legislation setting immediate prohibitions on the use of digital financial assets as a payment method in the country.

The mandate is the result of lengthy discussions between the Russian central bank and the government on cryptocurrencies. In addition, the action maintains the ruble as the sole legal tender in the Russian Federation.  Read more...

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Japanese Police Arrest Coinhive Users for Violating Law Banning Computer Viruses

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Japanese Police Arrest Coinhive Users for Violating Law Banning Computer Viruses

Japanese police from 10 prefectures have arrested website operators using Coinhive to tap into the computer power of their site visitors to mine cryptocurrencies without consent. They are accused of violating the law banning the use of computer viruses. Some people have already been fined. The police have been monitoring the Coinhive program since it was released.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

16 People Caught

The police from 10 prefectures throughout Japan have reportedly caught 16 people using mining programs to mine cryptocurrencies using other people’s personal computers, according to local media. The Japan Times reported the National Police Agency saying:  Read more...

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India’s Central Bank Admits to Banning Crypto Accounts Without Research

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India's Central Bank Admits to Banning Cryptocurrencies Without Research

]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how cryptocurrencies work.

In reply to a Right to Information query filed by a local lawyer with the Twitter handle Blockchainlaw91, the bank revealed that its decision to ban cryptocurrency-related accounts in the country was made without due consultation or study.

How It Started

India’s central bank, the Reserve Bank of India, started warning its citizens against the dangers of investing in cryptocurrencies in 2013, which was followed by two other warnings in 2017, before coming down hard on the industry earlier this year.  Read more...

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What Is Google Trying to Accomplish by Banning Cryptocurrency Ads?

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Considering the recent decision by Google to ban advertisements for cryptocurrency, one has to wonder what the plan is over at Google. It seems that Google sees cryptocurrency as an online threat and wishes to protect its users from such threats.

As of this month, Google has updated its rules for ads with the following restrictions:  Read more...

  • Binary options and synonymous products
  • Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)
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Bing Follows Facebook, Google in Banning Crypto Ads

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Microsoft Corp. announced earlier this week that its native search engine, Bing, will ban all cryptocurrency-related ads by July of this year.

The announcement was made in an official blog post in which the company’s Advertiser Policy Manager, Melissa Alsoszatai-Petheo, made it known to users that in the spirit of “constant work-policy evaluation” and in order to ensure that customers were being provided with the safest and smoothest online experience, Microsoft would ban all crypto-related ads.

The blog post read:

Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.  Read more...

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Russia: Telegram Ban Failure Shows Banning Bitcoin is Impossible

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Amid chaos and mass complaints, the Russian government may have to “ban Bitcoin” in order to successfully ban Telegram.

Telegram Shrugs Off Failed Censorship

The ‘solution’ to the seemingly impossible task of stopping Russian users accessing the encrypted messenger app underscores the crude reality of censoring global (and decentralized) networks.

That’s according to social media commentators both inside and outside Russia, who are responding to the country’s telecommunications regulator Roskomnadzor’s failure to actually block Telegram with a mixture of embarrassment and satirical joking.

Russian Efforts  Read more...

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[Guest Post] With Banks Banning Cryptocurrency Purchases on Credit Card, What Should Your Next Step Be?

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With Banks Banning Cryptocurrency Purchases on Credit Card, What Should Your Next Step Be?
By Harsh Agrawal Recently the cryptocurrency world received a jolt of sorts, when several major banks decided to ban the purchases of virtual currency using Credit Cards. Bank of America, Citigroup, Lloyds Banking Group, Virgin Money, JPMorgan have all halted cryptocurrency purchases made on Credit….

The post [Guest Post] With Banks Banning Cryptocurrency Purchases on Credit Card, What Should Your Next Step Be? appeared first on CoinReport.

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Kazakhstan Is on the Brink of Banning Bitcoin, National Bank Chairman Claims

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TheMerkle Kazakhstan Cryptocurrency Blockchain Association

In the world of cryptocurrency, regulation will always remain a contentious topic. To a lot of people, regulating this industry serves no purpose other than to prevent innovation from happening. Others see it as a way to pave a more legitimate ecosystem. In Kazakhstan, it appears the country’s national bank wants to ensure that all cryptocurrency activity is forbidden in the future.

Kazakhstan National Bank Refutes Bitcoin

Anyone who has paid close attention to the various countries trying to regulate Bitcoin and altcoins may have noticed that a negative attitude still reigns supreme. For some reason, a lot of officials have not taken too kindly to cryptocurrencies, and it seems that sentiment will eventually herald some regulatory changes with which most people will not be too pleased.  Read more...

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Why ICOs Should be Thanking Twitter, Facebook, Google for Banning Crypto Related Ads

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Twitter, Facebook, and Google – three of the technology giants that permeate our daily lives – have now banned or restricted cryptocurrency related advertising. Could this now offer an opportunity for credible coins, ICOs, and blockchain companies to push ahead of their less legitimate competition?

An ICO Advertising Free-for-All

Before the recent bans, anyone could advertise an ICO. Social media and search-based advertising are both easy and quick to set up. Until now there has been little information or verification required for an advertiser to create a campaign and publish ads. How visible those ads become is based simply on how well they are targeted and the budget behind them.  Read more...

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Trump Signs Executive Order Banning Venezuela’s Petro Cryptocurrency

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Trump Signs Executive Order Banning Venezuela’s Petro Crypto

U.S. president Donald Trump has signed an executive order banning American citizens from using Venezuelan cryptocurrencies. In effect, this means that the petro, recently launched by Venezuelan president Nicolas Maduro, is now illegal in the U.S. The controversial cryptocurrency was widely seen as a means to evade economic sanctions imposed by the U.S. The executive order is the latest move by the Trump administration to cut off Maduro’s funding, and is the first time the U.S. president has been officially linked with cryptocurrency.

Also read: Venezuela Picks FX Platform to Auction Petro ‘Oil-Backed Cryptocurrency’  Read more...

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Twitter to Begin Banning Cryptocurrency Ads

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Reports say that Twitter will follow in the footsteps of Facebook and Google by banning a wide range of cryptocurrency ads.

It appears that the digital world of cyberspace is continuing to shrink for those seeking to publish cryptocurrency ads. Facebook was the first to lower the boom as the social media platform banned cryptocurrency ads. This was followed shortly thereafter by a similar purge by internet behemoth Google. Now reports are coming out, saying that Twitter is following suit by instituting a ban of their own.

Twitter ban  Read more...

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Fearmongering MSM Gets It Wrong – South Korea Not Banning Cryptocurrency Trading

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What happens in Asia often has a knock-on effect on trading in Europe and the US later in the day. A grim picture has been painted today as all cryptos, bar one or two, are in the red and falling. Police and tax inspections on exchanges across South Korea could be the cause alongside misreporting by the mainstream media of an outright crypto ban.  Read more...

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