A report on cryptocurrency exchanges by The State of New York

In the best interest of residents of State of New York involved in cryptocurrency trading, the Office of Attorney General (the "OAG") launched the Virtual Markets Integrity Initiative. They believed consumers and investors deserve to understand how their financial service providers operate, protect customer funds, and ensure the integrity of transactions. As per the report, it was voluntary participation by the exchanges to provide basic practices and functionality adopted by them. Nine of...

SEC cyber unit halted $15 Million ICO scam

The Securities and Exchange Commission filed charges against Lacroix and PlexCorps which marketed and raised raised $15 million through ICO for PlexCoin and promised investors in the U.S. a return of more than 13 times within a month....

China to reintroduce cryptocurrency after its controversial ban

China shut down digital currency trade in September The ban caused much harm than good to China Countries like Japan and South Korea took advantage over this Chinese government resume cryptocurrency trading by licensing Bitcoin exchange Bitcoin has always been into controversies ever since its launch in 2009. From it been a victim of appraisal, hacker’s attack, flash crash to been wounded by China’s ban. Last month, the Chinese government, The People’s...

India and blockchain technology

Digital currency is seeking attention of government of various countries. With blockchain as the core technology underneath, virtual currency is growing fast across the globe. Central bank of few countries has already agreed to study the technology and its legal structure governing the value of the currency. India is soon going to join the pool for considering study of blockchain. In the recent press release by Ministry of Finance, Govt. of India, it is communicated...

Hong Kong Monetary Authority (HKMA) and a consortium of banks in association with Deloitte develops Blockchain PoC for Trade Finance

In a recent press release, Deloitte announced developing a Distributed Ledger Technology (blockchain) proof of concept (PoC) for Trade Finance in association with the Hong Kong Monetary Authority (HKMA) and the leading trade finance banks (industry participants) in Hong Kong. Deloitte has developed more than 30 blockchain-related prototypes, covering a multitude of uses such as digital identity, digital banking, cross-border payments, trade finance, and loyalty and rewards solutions, as well as distinct efforts for the...

Singapore’s central bank implements blockchain for inter-bank payments

Republic of Singapore, an island city-state off southern Malaysia, is a global financial center with a tropical climate and multicultural population. According to WEF (World Economic Forum), it is the most “technology ready” nation. Singapore has third largest financial centre and foreign exchange market and has also been identified as a tax heaven. Recently, Singapore's Central Bank has reported its successful implementation of blockchain in interbank's payments proof-of-concept (PoC) project. The Monetary Authority of Singapore...

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