• Usa plans to launch its digital currency

  Now, the Federal Reserve Board of Governors have partnered with some Federal Reserve Banks to develop basic policies and assess possible issues of risks. The Board has established a technology lab to test various platforms and solutions compatible with development and launch of a CBDC. The same has been done by the Federal Reserve Bank of Massachusetts which has collaborated with the Massachusetts Institute of Technology (MIT) for that purpose. The Federal Reserve Bank of New York is engaged in defining trends relevant for central banks and their digital currencies. more

  Oct-3-2020 12:56:18 PM

• Russian province lifts cryptocurrency mining ban

  The government of a Russian province has lifted a two-year ban on cryptocurrency mining. The ban came into effect when mining farms brought the region to the brink of an energy crisis. The Republic of Abkhazia, a province in the Russian Federation, has rebooted its crypto mining glory. According to the region’s official cabinet website, the new system will include regulation by the finance ministry and a two-month restriction on the importation of mining equipment. During this period, the Ministry of Economics plans to develop a system regulating cryptocurrency mining, including an office to collect and analyze statistics and provide licenses. Likewise, the state power authority “Chernomoenergo” will set rules as to the amount of electricity used by these businesses. more

  Oct-3-2020 12:55:28 PM

• Sec halts securities trading for vortex blockchain technologies

  The U.S. Securities and Exchange Commission (SEC) has halted trading in the securities of Vortex Blockchain Technologies. The firm has reportedly not been filing certain periodic reports with the regulator. In its statement, the watchdog revealed that it was temporarily suspending trading in the securities of the firm from September 23 to October 6. “The Commission temporarily suspended trading in the securities of the foregoing company due to a lack of current and accurate information about the company because it has not filed certain periodic reports with the Commission,” the regulator said. more

  Oct-3-2020 12:53:10 PM

• EU TO CREATE LEGAL CERTAINTY FOR CRYPTOCURRENCIES

  The European Commission has put forward a prospective regulatory framework for cryptocurrencies and stablecoins, as discussed on the organization’s website and in original documents. European Union: A Complete Crypto Framework The new framework regulates several aspects of digital commerce, with a significant focus on cryptocurrencies (“crypto assets”) and blockchain companies (“DLT market infrastructures”). It clarifies explicitly which assets are considered “crypto assets” and provides rules for the digital finance industry. more

  Oct-3-2020 12:51:51 PM

• VENEZUELA LEGALIZES CRYPTO MINING

  Bitcoin mining in Venezuela is now a legal and regulated activity following years of regulatory hostility in the Latin American country. This is according to a new decree from Venezuela’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP), which brings all activities related to crypto mining under its regulatory jurisdiction. Under the new dispensation, Venezuelan miners will work under license from SUNACRIP, and they will be mandated to join a “National Digital Mining Pool” under the body’s supervision. The new regulation also creates a legal basis for the importation, sale, production and use of crypto mining equipment in Venezuela for the first time. more

  Oct-3-2020 12:50:52 PM

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