No Official Ban on Cryptocurrencies in India Yet

India’s Minister of State for Finance Anurag Thakur has said that there is no law in India expressly prohibiting the use of cryptocurrencies. Local media outlet Inc42 reported Thakur’s statement on July 19,  The statement came during a recent exchange between a Member of Parliament (MP) and Thakur inside of Rajya Sabha — the Council of States or upper house of Indian legislature. MP Dharmapuri Srinivas reportedly asked Thakur about whether cryptocurrency was actually illegal. Srinivas apparently followed up his first question on legality with others on information and enforcement,…

US Treasury Secretary Mnunchin Says G7 in Agreement on Libra, Cryptocurrencies

Treasury Secretary Steve Mnuchin said his executive agency was in line with other financial ministries of the Group of Seven (G7) regarding Facebook’s leap into cryptocurrencies. “There was a clear agreement from all G7 finance ministers and central bank governors that Libra in particular raises some very significant concerns, and cryptocurrencies more broadly,” adding, “before any of us let these go through, we’re going to make sure those concerns are satisfied,” Mnuchin said on CNBC’s Squawk Box. For his part, the secretary would “very, very strong[ly]” impress upon the crypto…

BrewDog Now Lets You Buy Company Shares Paying With 10 Cryptocurrencies

Scottish craft beer brewery BrewDog has extended its latest crowdfunding to allow investors to buy shares in the form of cryptocurrency, the company tweeted on July 4.  BrewDog’s crowdfunding project, so-called “Equity for Punks” now accepts ten cryptocurrencies to become a shareholder. The supported cryptos include bitcoin (BTC), bitcoin cash (BCH), bitcoin SV (BSV), ether (ETH), litecoin (LTC), ripple (XRP), OmiseGO (OMG), Qtum (QTUM), Augur (REP), and 0x (ZRX), as BrewDog stated in a recent blog post. Launched back in 2010, Equity for Punks program allows investors to buy a…

Top Analyst’s Doom Warning: Many Cryptocurrencies Will Go Bankrupt

Bitcoin is currently retracing from its strong parabolic move over the last few weeks. This may mean that many crypto enthusiasts are anticipating the advent of the altseason (altcoin season). For those who are not familiar, the altseason is one of the most profitable periods in cryptocurrency trading. It is a time where other crypto tokens exponentially rise in value against bitcoin. Those who catch the move early can grow their bitcoin stockpile anywhere from 2x to 100x. Bitcoin has been booming in H1 2019 but an analyst is predicting…

Central Bank of Uganda Warns Decentralized Cryptocurrencies Are Risky

The deputy governor of the Bank of Uganda has warned the public about the limited protections offered them when they invest in unregulated cryptocurrencies. English-language Ugandan daily New Vision reports on June 28 that the bank’s deputy governor — Dr. Louis Kaskende — made his remarks during a Town Hall meeting in the city of Masaka, which was devoted to educating the public about the institution’s activities and role.  Despite bitcoin being designed, in particular, as a politically-neutral money, Kaskende reportedly underscored the risks of crypto trading and adoption, stating…

Russia Is Getting Serious About Blockchain, but Remains on the Fence About Cryptocurrencies

Last week, an annual forum featuring Russia’s top people from the economic sector was held in St. Petersburg, and cryptocurrencies were a hot topic there. Notably, government agents and state-controlled businesses were vocal about their interest in blockchain, but seemed to distance themselves from digital tokens. Meanwhile, the regulatory framework for cryptocurrencies is still missing in the country, despite the fact that local authorities have been tasked to prepare the needed amendment a while ago. So, where is Russia heading in terms of crypto and blockchain? Brief introduction to Russia’s…

Major Cryptocurrencies in The Green as Bitcoin Rallies Over $8,100

Wednesday, June 12 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all in the green. Cryptocurrencies on the whole are trending up today, according to data provided by Coin360. Market visualization courtesy of Coin360 After peaking around $9,000 in May, BTC crashed down to under $8,000 but seems to be slowly recovering. BTC was trading just shy of $8,000 earlier today, and is now trading at $8,130 at press time. Overall, the top cryptocurrency is up by approximately 2.72% over teh past 24 hours at press time.…

Russia May Build Offshore Destination for Cryptocurrencies, Exchanges and Forex

Russia may build a large financial center on the island of Bolshoy Ussuriysky, according to a report by the state-run TASS news agency on June 8. Leonid Petukhov, who heads the Far Eastern Agency for Attracting Investments and Supporting Exports, said the island could become an offshore destination for cryptocurrencies, crypto exchanges and forex markets. Bolshoy Ussuriysky lies on the border between Russia and China, with western parts of the long-disputed territory transferred to Beijing following a 2004 agreement. Petukhov made his statements while speaking to TASS at the St. Petersburg International Economic Forum. Russia has already…

Reserve Bank of India Denies Involvement in Draft Bill to Ban Cryptocurrencies

The Reserve Bank of India is denying any knowledge of a proposed ban on cryptocurrencies — despite reports that a number of governmental agencies have backed the draft legislation — according to a Right to Information request filed on June 4. Varun Sethi, a lawyer specializing in blockchain, filed the inquiry into the RBI’s involvement with “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft, following a report from the Economic Times. The legislation would ban the sale, purchase, and issuance of all types of cryptocurrencies. Bank…