Deputy Prime Minister of Singapore: we have no reason to ban encryption currency trading

Deputy Prime Minister of Singapore: we have no reason to ban encryption currency trading

Singapore’s central bank has conducted the research to the crypto currency and trade mode, the country’s Deputy Prime Minister stressed that there is no reason to ban public encryption currency trading.

Singapore Deputy Prime Minister and central bank chief TharmanShanmugaratnam delivered a speech at the Council meeting yesterday. At that time there were three members question whether the prohibition of encryption currency transactions may.

These few members mentioned China banned domestic exchanges and South Korea on the local market harsh policies, then they asked whether the central bank may take measures to ban bitcoin currency trading or encryption.

Deputy Prime Minister pointed out that “crypto currency is an experiment” – the users scattered around the world, is still in the early stages of development. He said that now the definition of encryption currency success too early. The central bank official also pointed out that once the encryption monetary success, its impact is also widely need time to know.

For whether Singapore may be taken with Chinese similar policy, Shanmugaratnam is given a more direct response:

The monetary authority of Singapore (MAS) is closely related to the research progress and potential risk of. As of now, we have no good reason to ban encryption currency trading. But we will comply with the requirements of anti money laundering provisions of our relevant agency.

Shanmugaratnam published last year with the view of President MAS RaviMenon’s view is similar. He said bitcoin itself does not pose a risk, also do not need supervision, but exchange operators such intermediaries need to be regulated, such enterprises must abide by the existing anti money laundering and terrorism financing laws and regulations.

Shanmugaratnam also mentioned in his speech yesterday:

At present, there are two cases of encryption currency. The first is the payment; second is becoming more and more important, is the encryption currency itself is an asset. The transaction is to obtain the crypto currency income from.

In addition, he also revealed that the crypto currency exchange regulation will make other encryption currency bitcoin is included in the retail payment services by the scope of supervision, and the public should also be aware of crypto currency investment risk.

Fell sharply in recent weeks the price of bitcoin which proved there is a risk.

However, the official stressed that the Singapore authorities will adopt an open and prudent manner to the development of encryption currency.

He said:

We will continue to encourage the blockchain test field, these tests can be related to money, because this kind of innovation may have an effect on the economic or social aspects. But at the same time we will focus on the new risk.

The European Central Bank needs to pass legislation to control bitcoin

The European Central Bank needs to pass legislation to control bitcoin


Beijing 2, Bloomberg News reported, according to the OberoesterreichischeNachrichten newspaper, the European Central Bank Committee member EwaldNowotny said, how to deal with such as bitcoin encryption currency changed his mind, he now thinks the risk of money laundering through legal means processing.

At the same time as Austria’s governor Nowotny said in an interview with the newspaper, bitcoin is created is not transparent, and very suitable for money laundering, “for a long time, I always think that bitcoin investment should be a private problem. But I think we need to have the relevant laws and regulations”

Central banks are studying how to block chain technology application in the payment system, but is based on the basis of legal tender.

Vice mayor of Toronto proposed that support the use of bitcoin to pay tax

Vice mayor of Toronto proposed that support the use of bitcoin to pay tax

According to foreign media reports, the deputy mayor of Toronto NormKelly proposed in January 31st the Toronto City Council, to accept bitcoin payments Toronto tax.

NormKelly believes that the current bitcoin payment is not what happens, why can’t the government. He believes that Toronto as a high-profile international metropolis, should play an exemplary role.

If so, Toronto will be one of the world’s first bitcoin payment tax international metropolis.

Some analysts believe that the bill would not be passed, bitcoin price volatility may become an obstacle.

The three Arizona Senate this week also submitted a similar bill.

Peter Thiel Founders Fund invested millions of dollars to buy bitcoin

Peter Thiel Founders Fund invested millions of dollars to buy bitcoin

According to a new report, which is famous for its early investment in Facebook’s Silicon Valley venture company FoundersFund is to enter the field of encryption currency.

The “Wall Street journal” quoted unnamed sources of news, headquartered in San Francisco, co founded by well-known investor PeterThiel FoundersFund bought in recent fund in 15 million to $20 million worth of bitcoin.

Although it is not entirely clear of these transactions occurred at a time, or whether the company now has to sell these digital assets, but according to the report, which was a fund in mid 2017 has begun this investment.

Therefore, the report said the company is now the investors brought hundreds of millions of dollars in return.

The timing is right

According to the CoinDesk bitcoin price index, May 2017 to July, bitcoin prices are maintained at about 2000 to 3000 dollars, but in the past six months of strong growth in December reached a record high of nearly $twenty thousand.

However, in view of the billionaire co-founder of PayPal had been the first encryption currency of the world – bitcoin expressed support, so this news is not so surprising.

According to CoinDesk reports, Thiel in October last year had said that he believes bitcoin critics “underestimated” encryption of the value of the currency, and the bitcoin is like gold — which means it as a long-term value of reserves has greater potential, rather than a daily payment.

Wall Street experts said the growth of BTC drive investors into the stock market

Wall Street experts said the growth of BTC drive investors into the stock market

The stock market expert and founder of BirinyiAssociates LaszloBirinyi believes that since January 2017, alarming rise in prices of bitcoin has increased by 1950 percentage points, is the catalyst for global financial market as a whole, to attract new investors to enter the stock market more.

He added that the crypto currency frenzy has also provided a much-needed boost to the stock exchange traders “”.

Birinyi told CNBC in a telephone interview that bitcoin fever was forced back into the market more idle cash on the sidelines.

Bitcoin is of considerable interest from the catalyst. It also gives the transaction at the table in the hedge fund guy in a booster. Suddenly, more and more people realize that the market is changing, the stock market, there is a way to make money.”

However, according to Birinyi, bitcoin in the past few weeks have been characterized by similar bubble. He added that if bitcoin is indeed a crypto currency bubble, so it has exceeded the size of some of the largest in the history of the financial bubble, including the end of the 90s NASDAQ bubble of last century. Birinyi also said that he is not willing to invest in long-term bitcoin, but he thinks that it is more suitable as a trading tool.

In fact, he claimed that in December 18th the Chicago Mercantile Exchange (CME) launched the second global bitcoin bitcoin trading futures success.

“I make $3000 an hour. This is not the investment funds. This is your going to spend money on buying new golf bag.”

Although the most well-known digital currency also have some doubts, but more and more investors to enter the Wall Street encryption currency market. The famous American investor BillMiller told reporters recently, his hedge fund 50% of the funds are invested in bitcoin.

Recently, the mainstream media reported bitcoin surge, also paved the way for the promotion of other encryption currency.

South Korean prosecutors actively contributed to the confiscation of illegal income bitcoin

South Korean prosecutors actively contributed to the confiscation of illegal income bitcoin

The South Korean government agencies as to whether to confiscate the illegal income bitcoin yields differences. Involved in a 216 bitcoin case, the court ruled that the once digital currency can not be confiscated. But now the prosecutor to the court to request the overthrow of the ruling to allow confiscation of this batch of currently worth billions of won bitcoin.

Prosecutors want to confiscate bitcoin

SBS reports, September Suwon District Court ruled that the confiscation of criminal cases in the bitcoin is not appropriate, the prosecutor in the case, has been to the court to overturn the verdict. Prosecutors believe that all illegal income should be confiscated. reported that the case began in April, web developer complaint cases, the three years in the adult website to spread 235000 illegal pornographic articles.

The 33 year old Ahn to create a website with 1 million 200 thousand adult clients. Prosecutors seized cash 1 billion 460 million won, and stored in the 216 exchange bitcoin wallet. Since Ahn was arrested, the 500 million won coins added to 4 billion 250 million won (about $4 million).

The court has ruled that the confiscation of bitcoin is not appropriate


In the September trial, prosecutors provided a lawsuit against Ahn and their families, to confiscate 1 billion 460 million won in cash and 216 coins.

Suwon district court will Ahn sentenced to six months a year in prison, but the judge decided to confiscate 340 million won in cash, but refused to confiscate these bitcoin. He believes that 340 million won Ahn direct cash is generated from the porn business in profit. As for the digital currency, news reports the judge’s decision.

“Not only is difficult to do, but also confiscated bitcoin is not appropriate, because they do not have the entity, is a form of electronic document, they are not cash”.

The media explained that bitcoin is not suitable for the confiscation of the ruling basis of recessive income regulation (ConcealedRevenueRegulationAct) tenth.

The media continue to call, if prosecutors successfully confiscated bitcoin Ahn, they will be transferred to the Treasury auction, “plan cases of second instance court date is January 8th”.

The NASDAQ plans as early as next year the second quarter launch of bitcoin futures

The NASDAQ plans as early as next year the second quarter launch of bitcoin futures

The Nasdaq stock exchange program launched the first bitcoin futures in the second quarter of 2018, the NASDAQ has become the Chicago Mercantile Exchange (CME), the Chicago Board Options Exchange (CBOE), third of the United States to enter the encryption currency market exchange.

NASDAQ plans early launch of the product in the two quarter of next year. The contract will be on the NASDAQ NFX market transactions.

On Wednesday, bitcoin prices exceeded $11000 mark. Since this year, bitcoin has risen over 1100%. Bitcoin 7 years ago only 6 cents, less than $1000 earlier this year.

Bitcoin supporters pointed out that if the world’s $200 trillion of assets in the traditional financial market, bitcoin even if only a small part of it will also rise sharply.

FortressInvestmentGroup investment group, the former hedge fund manager MichaelNovogratz said, bitcoin prices at the end of 2018 is expected to easily reach $40 thousand.

At present in the four major U.S. exchanges, NASDAQ, CME and CboeGlobalMarketsInc are planning to enter the encryption currency derivatives market. The New York stock exchange’s parent company, IntercontinentalExchange is the only one large exchange has not yet announced similar plans.

Early in October this year, the Chicago Mercantile Exchange Group (CME, “Chicago”) has announced that from 2017 the beginning of the fourth quarter launch of bitcoin futures.

The new futures contract will be based on the CMECF bitcoin reference rate (BRR) of cash settlement, the interest rate as the bitcoin $”premium, updated once a day. Bitcoin futures will be included in the list of transactions in Chicago, and constrained by the Chicago futures trading rules.

Bitcoin trading platform GeminiTrust and Winklevoss cooperation Chicago brothers established, using data development bitcoin derivatives and index of the platform.

Forty foreign investors apply for bitcoin mining business in Russia

Forty foreign investors apply for bitcoin mining business in Russia


The Russian satellite network reported that the president of Russia’s currency and the encryption block chain association Yuri – Pulipaqi gold to the Russian satellite news agency said the association from EU countries and China enterprises and individual investors received 40 copies in Russia for bitcoin mining equipment application.

Puri Paci Kim said that since 2013, the world began to build bitcoin refineries, each refinery in thousands of units used for mining bitcoin ASIC machine automation. According to him, a bitcoin mining of the monthly income of more than $1 million.

Puri Paci Kim pointed out: “Russia has hundreds of such mines. I can sell the state-owned power miners.” He said that if the Russian power enterprise spare capacity use up each year for the Russian economy investment of 1 trillion and 700 billion rubles ($28 billion 650 million).

The Russian currency and block encryption chain association has set up a committee of mining market participants, some of its members from Slovakia and Chinese. At present, the committee is preparing proposals on how to improve the attractiveness of mining in russia.

Bitcoin soared to $6700 over the total market capitalization of $112 billion

Bitcoin soared to $6700 over the total market capitalization of $112 billion

The Chicago Mercantile Exchange, the world’s largest futures exchange (CME) announced on Tuesday that it plans to launch before the end of bitcoin futures contracts. This push, bitcoin prices soared, has exceeded four mark, according to the international BtcTrade station (, bitcoin currently has exceeded $6700.


In the break through $6400 mark, bitcoin prices within a few hours and even break the $6500 and $6600 two mark.

Tuesday morning Beijing time 7:40, bitcoin prices exceeded $6700. At 7:55, bitcoin price of $6726.50. The total market value of bitcoin exceeded $112 billion.

The world’s first bitcoin tanker founder lightning plan to support network

The world’s first bitcoin tanker founder lightning plan to support network


The first commercial tanker inventor revealed in the design of lightning join network (LightningNetwork) function plan.

In 2014 AndySchroder the design and manufacture of the original machine, allowing users to scan the QR code, to pay with bitcoin currency substitution. Schroder in the Lightning developer mailing list, now want to adjust the design, integration of Lightning chain payment.

But Schroder pointed out that some problems can provide “real-time micro payment” of the Lightning, including the invoice BOLT11 protocol does not seem to support a refund. The refund is a necessary function of bitcoin tankers, because the use of pay balance mode, at the end of sales service will return the unused points immediately.

Schroder is currently using bitcoin upgrade protocol BIP70, this user-friendly payment agreement to create a receipt for the consumer, and automatically provide refunds to the seller.

“I don’t see BIP70 like a refund option, this is intentional? If yes, why not see people may want a refund?”

He also speculated the possible solutions to the problems might be to install a digital wallet in the car, but this is not a short-term solution.