Kenyan Government to Use Blockchain to Distribute Affordable Housing

The Kenyan government plans to leverage blockchain technology for the distribution of new government-funded housing units, according to reports from local news outlet the Star. The Kenyan National Housing Fund will finance the initiative under the Finance Act 2018, and it plans to create an efficient allocation of the houses to those who need it …

Bitcoin is Not a Legal Tender in Zambia

Zambia’s central bank has said that cryptocurrencies like bitcoin aren’t legal tender in the country. The Bank of Zambia (BoZ), responsible for creating and implementing monetary policies for the world’s 105th largest economy, explained their stance against the use of cryptocurrencies in contrast to the growing public interests in the field. The central bank admitted …

CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

The Commodity Futures Trading Commission (CFTC) has bolstered its police actions in the last fiscal year, driven largely by cryptocurrency cases, according to The Wall Street Journal. Under President Trump, the federal derivatives market regulator levied about $900 million in civil penalties in 2018 alone, exceeding the annual amount in five of the eight years …

South Korea Rejects Crypto Exchanges as Venture Firms, Taxes to Double

In a blow to the industry, the government of South Korea has stuck with its legislative proposal to exclude the cryptocurrency and blockchain industry from being certified as venture firms. First proposed by South Korea’s Ministry for Small and Medium Enterprises (SMEs) and Startups in August, the revision to the law called for Korea’s domestic …

Bitcoin Exchanges in India Have Started to Shut Down, It’s Already Late

Earlier this month, CCN reported that the Securities and Exchange Board of India (SEBI) sent government officials to Japan and Switzerland to better understand Bitcoin and crypto-related regulations prior to a supreme court hearing on a crypto trading ban imposed by the country’s central bank. At the time, many investors in India were optimistic towards …

Cryptocurrency Prices Highly Correlated to Regulatory Action: BIS Report

New research has found that, despite the popular idea that cryptocurrencies operate generally outside the reach of national regulators, regulatory actions still have a huge impact on crypto markets. The research is presented in a report by the Bank for International Settlements (BIS), an organisation owned by 60 of the world’s central banks from countries …

How the Recent $60m Crypto Hacking Attack Will Impact Japanese Market

Zaif, a major crypto exchange in Japan, was hacked this week, losing nearly $60 million in user funds in a high profile security breach. Local publications including Japan Times reported that 6.7 billion yen was stolen by an unknown group of hackers, 2.2 billion yen in corporate funds and 4.5 billion yen in user funds …

Texas Regulators Shut Down Three Cryptocurrency Scams

The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes. The agency entered a cease and desist order against Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an …

Did SEC Chairman Jay Clayton Just Throw Shade on Ether?

A new statement issued by Securities and Exchange Commission (SEC) Chairman Jay Clayton has some within the cryptocurrency community questioning whether the agency could change its tune on ether — the native currency of Ethereum — which a top official previously said should not be regulated as a security. SEC Chair: Staff Guidance Non-Binding Clayton, …

Mexico to Tighten Bitcoin Regulations Through Central Bank-Issued Permits

The Bank of Mexico (Banxico), Mexico’s central bank, has recently revealed through a circular that bitcoin exchanges and other businesses dealing with cryptocurrency assets in the country will require a government permit. The circular, published on the government’s official daily, Diario Oficial de la Federación, says that crypto exchanges and related businesses will need to …