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Centralized Cryptoruble Not Possible, Minister Tells Putin

Blockchain The Russian Ministry of Finance is not against a national cryptocurrency, provided the state does not participate in it. The creation of a centralized coin, like the cryptoruble, seems impossible, as cryptocurrencies are based on decentralized ledgers, Finance Minister Anton Siluanov told President Putin, according to Russian media.  

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Tezos Foundation Reorganizes, Gevers Steps Down

After months of infighting between the organizers of Tezos, a blockchain project currently in development, and the Tezos Foundation, a Swiss nonprofit that controls the project’s pursestrings, the two remaining original members of the Foundation have “voluntarily” resigned. This means that since December, the entire three-person board has been replaced.According to an announcement by the Tez

Spokesperson Confirms Bitfinex Is Client of ING

Finance Major Dutch financial services company, ING, has confirmed that Bitfinex holds an account with the company in the Netherlands. The bank issued a statement regarding its relationship with Bitfinex after Dutch-language website Follow the Money published a report revealing that ING is providing financial services to Bitfinex last week.Also Read:

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Blockchain can Save the Asset Management Industry Billions Every Year

Digital solutions will go a long way in the financial industry. Right now, a lot of processes still require manual labor. It is cost-inefficient, cumbersome, and introduces unnecessary delays. The asset management sector can certainly benefit from the performance increase provided by blockchain technology.Blockchain in the Financial SectorIt is evident distributed ledgers will play a big role in t

Russian Authorities Criticized over Proposed Crypto Regulation

Economy & Regulation Criticism aimed at authorities and the new legislation on “digital financial assets” is mounting in Russia. Local officials have rebuked lawmakers in the capital over slow progress, warning that the country will have to catch up with others. Experts from the crypto sector have expressed concerns about many unresolved issu

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UK MPs to Study Bitcoin Benefits Despite Carney’s Dismissal

British MPs will participate in a committee to study the risks and benefits of Bitcoin and cryptocurrency despite Bank of England Governor Mark Carney writing it all off as a failure.UK Makes First Moves Toward RegulationA cross-party Treasury select committee of members of parliament announced on Thursday that they would launch an inquiry into digital currency as well as exami

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Major Banks Partner With R3 Blockchain Alliance To Launch Pilot Trade Platform

An initiative involving R3, a Blockchain consortium made up of over 100 financial institutions, trade finance platform TradeIX, and a group of leading global banks announced the pilot launch of their trade finance platform, according to a press release Wednesday, Feb. 21.The press release explains that the solution is based on R3’s distributed ledger technology (DLT) product Corda. The end goal

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BitFunder Founder Charged by SEC for Stealing $61 Million Worth of Bitcoin

Today, the U.S. Securities and Exchange Commission (SEC) brought charges against Jon E. Montroll and his exchange BitFunder for operating an unregistered securities exchange and defrauding users. On top of that, the agency also charged the operator — Montroll — with making false and misleading statements in connection with an unregistered offering of securities. BitFunder was a platform t

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Could US Law Enforcement Benefit from Storing Cryptocurrency Seizures on a Blockchain?

As cryptocurrency usage becomes more widespread both above and below the law, various authorities are increasingly required to perform seizures on funds used in criminal cases. Thanks to the various anonymity properties of digital coins, however, it’s proving difficult to track these forfeitures. This lack of transparency leaves critics of the government musing over the possibility that not all

Bafin Clarifies Stance on ICOs as More Germans Ask About Tokens

Economy & Regulation Germany’s financial regulator has clarified its position on initial coin offerings. Bafin admitted it was receiving many inquiries about the status of tokens and cryptocurrencies distributed to investors through ICOs. The federal agency advised interested parties to refer to regulations applicable to traditional financial i

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