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MPs on the U.K.'s Treasury Select Committee have said that the crypto industry is the "wild west" and that investors are left facing "numerous risks" due to the unregulated environment. According to Conservative MP Nicky Morgan, chair of the committee, the current situation is unsustainable, reports The Guardian. "Bitcoin and other...
The New York Department of Financial Services (NYDFS) has authorized Gemini Trust Company LLC, the cryptocurrency exchange platform founded by the Winklevoss brothers, and Paxos Trust Company LLC, formerly itBit, to offer a price-stable cryptocurrency pegged to the US dollar. Commonly known as stablecoins, these aim to offer a liquid,...
The cryptocurrency industry in Thailand is booming with about 50 initial coin offerings (ICOs) and 20 exchanges showing interest in applying for a digital asset license, according to Thailand’s Securities and Exchange Commission (SEC). “License approvals are being processed,” SEC secretary general Rapee Sucharitakul told the Bangkok Post. “Many companies...
China wants to be a frontrunner in blockchain technology with local governments ramping up blockchain projects, and yet, the government still maintains a strict stance on cryptocurrencies, highlights a new report by Abacus, 500 Startups, and the South China Morning Post. Local governments of Shanghai, Shanxi, Henan, Guangzhou, Guiyang and...
Two new cryptocurrency exchanges have been authorized by the Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, to process conversions between cyrptocurrencies and the Philippine peso. BSP’s deputy governor Chuchi G. Fonacier said the Philippines central has approved applications filed by Virtual Currency Philippines, Inc. and ETranss as platforms,...