Major Bitcoin mining companies in **China** were shocked by the news about power cancelation. Rumors claimed that the power companies are up to cutting off electrical supply of the mining rigs. However, soon after this report was promulgated, the information changed drastically. Sichuan Electric Power company published an article where **Bitcoin mining** was indicated as an illegal activity a...
Path: Blog...e government’s statement that frauds and money laundering took place on the exchanges.* Before these bans, China had a trustworthy role as one of the biggest **cryptocurrency** trading markets. At the same time, this country is ahead with the mining business and became, actually, one of the centers for crypto-enthusiasts. What is happening now and what are the perspectives? After the **B...
Path: Blog...the legislation draft is not yet publicly available, it has been listed on the roaster of the ongoing parliamentary session of the country. The Indian government is planning to imply a ‘general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing’ in cryptocurrencies ‘medium of exchange, store of value and a unit of account’, the summary ...
Path: Blog...in as a legal tender, scraping all associated capital gains tax. In addition, the country will accept taxes in Bitcoin, and the US dollar will be the ‘reference currency’ when denominating prices. Also, Bukele is considering promoting Bitcoin mining at a time when the major mining industry is facing hostility in China. The El Salvadoran government officials will discuss its crypto plans fur...
Path: Blog...lly have seen a large number of fraud complaints. These include binary options, forex, digital currencies, commodity pools, and precious metals. Registration with CFTC allows the agency to provide greater security and oversight of the industry by examining whether firms meet minimum financial standards as well as disclosure, reporting, and recordkeeping requirements. Registration is no guarante...
Path: Blog... in the middle of the year it is hard to tell exact number netted by criminals could exceed 2019 statistic. Due to the implementation of effective AML controls, the amount of criminal funds directly received by exchanges dropped by 47% in 2019. Remining of 2020 could bring more regulatory attention to various aspects of the crypto industry. The percentage of funds sent to high-risk exchanges fr...
Path: Blog...of the most popular beliefs in cryptocurrency circles about halving events is that they are great for the price of Bitcoin, in particular, the halving will cause the Bitcoin price to explode.** This principle arises from the fact that cutting the mining reward in half contributes to greater scarcity of BTC as the number of users on the networks continues to grow. At pre-halving moment, 1800 BTC...
Path: Blog...nd offer plenty of opportunities, there is still much room for critical questions as to their legal status and characterization. **The UK takes a significant step to reduce the barriers to the adoption of crypto assets and smart contracts by determining their legal status.** The legal Statement published by the United Kingdom Jurisdiction Taskforce tackles the legal uncertainties concerning the...
Path: Blog... when cryptoassets are sold for fiat or are used for goods and services purchasing, exchanging crypto for crypto, or gifting cryptoassets. This is a common approach used in many countries around the globe. Further, according to the policy paper, mining activity is subject to income tax. The authority classifies this kind of activity as a business activity considering such factors as the degree...
Path: Blog...mond, commented on the situation: *"The UK has one of the toughest systems for combatting money laundering, but too many people are still falling victim to fraud. This crime fuels everything from drug dealing to modern slavery, fundamentally undermining people’s faith in our financial system and impacting economic growth. By bringing together leaders from across government, law enforcement an...
Path: Blog...ation with the Central bank (Bank Negara Malaysia) together will prepare a complete legal framework on digital assets before the end of Q1 2019. The Commission replies on this: *“The guidelines will among others, establish criteria for determining fit and properness of issuers and exchange operators, disclosure standards and best practices in price discovery, trading rules and client asse...
Path: Blog...arket. But to analyse the deeper meaning of this phenomenon. How is it possible that volume cannot cause price or even price cannot cause volume? This would mean that the bitcoin market is dependent on other factors possibly news events, costs of mining and other factors. **Volume and Price** The chart below is a chart showing how an impulse in volume affects the closing price. As can be ...
Path: Blog...an farmers to export 500,000 tons of feed grains such as wheat or corn into Indonesia tariff-free. Australian industrial manufacturers of steel, copper, and plastics also will benefit from cooperation, as well as service industries including health, mining, telecommunications, tourism and education. Australia and Indonesia arranged a negotiation of **the free trade agreement** in November 2010....
Path: Blog...pen-source, and the development team invites programmers to help improve the coding. Open source projects, such as Bitcoin, gain considerable security advantages over private coded platforms. This added security is the result of more contributors examining the code. **IoT** One of Tierion’s most unique concepts is its ability to integrate into IoT (Internet of Things) systems. This integra...
Path: BlogWhen Bitcoin mining and ASIC miner-producing juggernaut **Bitmain** released its IPO prospectus to the Stock Exchange of Hong Kong in September 2018, the world got to take a peek at some wild growth rates in the cryptocurrency industry not purely linked to astronomical gains from market speculation. The most impressive component is the leap from Bitmain’s 2016 revenue ($278M) and profit ($11...
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Path: Additional...es of businesses that do not fall under the Virtual Currency Exchange Business, as described by the Act: Natural or legal entity that engages in Virtual Currency trade only for its own investment purpose; Companies engaging in Cryptocurrency mining; Software developers; Wallet service providers that do not engage in sale or purchase of Virtual Currency. Benefits of Japan Virtual C...
Path: Licensing... of the company; whether the management boards’ report meets the legal requirements; and whether the adequate additional information has been provided. The auditor should report to the managing and supervisory boards. Before determining or approving the financial statements, the competent body should have taken notice of the auditors’ report. If the audit is not obligatory, p...
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