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 South Korean government bitcoin transactions take new restrictions

The South Korean government bitcoin transactions take new restrictions


The South Korean government is considering a series of policy options to limit what it called the “overheated virtual currency speculation, including capital gains tax for traders.

Reuters first reported that the South Korean government policy coordination office (OfficeforGovernmentPolicyCoordination) released the December 13th statement, the Ministry of Justice (MinistryofJustice), the Financial Services Commission (FinancialServicesCommission), Korea Communications Commission (KoreaCommunicationsCommission), (FairTradeCommission), even bargain Committee of the Ministry of information and communication (MinistryofInformationandCommunication) to propose possible policies and measures of domestic encryption currency market, waiting for legislative approval.

This perhaps is not surprising, because of the huge volume of transactions in South Korea, Bithumb is one of the world’s largest single day trading volume of the stock exchange, here last month bitcoin transaction price first exceeded $10000.

Traders’ options include capital gains tax and banned foreign traders. Taxation is still unknown, the statement pointed out the private sector will solicit opinions and reference to other government measures, such as the IRS (InternalRevenueService) bitcoin assets tax levy.

If the measures, South Korea will be encrypted currency exchange network security audit, especially data theft and loss. But the daily trading volume of more than 10 billion won ($9 million 200 thousand) a day, the number of users more than million exchanges need to apply for the Korea Information Security Agency (KoreaInformationSecurityAgency) approved.

Government is also considering whether to ban ICO, which could strengthen the autumn of this year the Financial Services Commission (FinancialServicesCommission) to block chain financing ban. The statement also said the ban may include involving digital currency multilevel marketing.

The other measures discussed include combating illegal industrial land for bitcoin mining, miners get banned exchange account.

The official said, the government does not want the obstacles to block chain development, but restrictions on trading activities.

Class, we will continue to correct the adverse effects of virtual currency speculation, but we will adopt a balanced policy, to ensure that government measures will not hinder the blockchain technology development”.

Russia strengthen the regulatory bitcoin bitcoin is expected in 2018 will be legalized

Russia strengthen the regulatory bitcoin bitcoin is expected in 2018 will be legalized

According to reports the Russian government is investigating in 2018 will bitcoin is classified as a financial tool, through the KYC process (know your customer) to strengthen the regulatory bitcoin.

According to Bloomberg, including Russian Deputy Minister AlexeyMoiseev financial department and the Central Bank of Russia, Russian senior officials, will tend to Russia and digital currency bitcoin as a part of the money laundering risk prevention. Anti money laundering also belong to the governments of bitcoin strengthen supervision measures. For example, at the beginning of 2017, the central bank Chinese from strengthening bitcoin exchange of anti money laundering measures, to further strengthen the supervision of bitcoin trench.

Moiseev said the Russian government hopes to visit Russia bitcoin trading participants in the information processing enterprises in Russia, digital currency payment services will be required to collect and submit these data.

He said:

“Countries need to know at any time on both sides of the financial chain participants. If the transaction occurs, people need to know that they are selling to who to buy and who, like the bank operation.”

Despite Russia’s final location remains to be seen, but the past development has shown that Russian attitudes to block chain technology more moderate, but believe that the Russian government hopes to understand bitcoin transaction participant information, the government to strengthen the supervision of bitcoin is more important.

In 2015, the Russian government started to use or create digital currency behavior put forward a severe penalty measures. Later, in the same year, the punishment was written into the draft amendment proposals.

However, in August last year, the Russian government will consider Russia as a kind of foreign currency bitcoin, Russian officials gave up more punitive measures.

Bitcoin blockchain ensures the quality of hemp

Bitcoin blockchain ensures the quality of hemp

Bitcoin is currently the encryption technology and digital currency field the safest and most experienced test of distributed network; mainly because it is the safety of more than flexibility and function. Therefore, marijuana growers began to create cannabis genome database, the use of security measures bitcoin blockchain, guarantee the authenticity of the data.

Over the past few years, more and more American States and countries began to recognize the legitimacy of entertainment and medical marijuana, marijuana scale lead to soaring. Therefore, in order to meet the market demand, marijuana dealer, middleman and laboratory has gradually increased.


So every day in the laboratory and the researcher tested and cultivate new varieties of marijuana; let the consumer is difficult to distinguish the hemp and manufactured goods category. Supervision of marijuana market continues to increase, consumers and brokers began to question the quality and origin of hemp varieties. The quality of manufactured goods has become an important indicator of marijuana marijuana growers and dealers reputation and product pricing.

At present, ordinary users or consumers can not verify the basic hemp varieties and its origin, unless a cumbersome test. For inexperienced users, it is difficult to distinguish between the.

Bitcoin blockchain cannabis based on Database

The middleman and the credibility of unregistered bad farmers can take advantage of people’s lack of knowledge of the genome and the origin of hemp varieties. Registered laboratories and reliable distributors due to the high quality of their pride.

Therefore, MedicinalGenomics developed a bitcoin blockchain database based on marijuana growers; registration varieties and their genomes, category information users, distributors and consumers can refer to bitcoin account.

MedicinalGenomics chief scientific officer KevinMcKernan stressed the importance of bitcoin blockchain database, because the level of security and innovation is incomparable.

“Bitcoin blockchain since 2009, safety through the test of time. The customer of the heavy responsibility of intellectual property management to you, and you choose to believe in a side chain, but your network crashes, you can not solve this problem, then your customers will be disappointed”.

Japan’s main incentive plan can pay with bitcoin

Japan’s main incentive plan can pay with bitcoin

Japan bitcoin trading platform bitFlyer has been associated with reward points service popular together, allowing consumers to accept payment in bitcoin.

The exchange in Japan recently implemented measures to improve the attractiveness of bitcoin is generated by the new relationship with PointTown, PointTown is a “point of integration in the main website, the online payment service GMO and Media management.

In fact, the customer will be able to obtain PointTown integral integral into bitcoin exchange, it only requires a bitFlyer account.

In Japan, PointTown currently has 1 million 880 thousand registered users. Its business model is similar to the other reward points service, such as PrizeRebel and Points2Shop.

Do the task to win points

The use of this website customers can win prizes by performing the task, the task is to fill in the online shopping, consumer survey and registration services. The award consists of more than 20 in the Amazon can retailers and online or mobile services such as iTunes, LINE, integral and Lotte consumption, while also including Suica card, T-Point and Nippon airline mileage.

The Bank of Canada: the attitude of bitcoin not worried

The Bank of Canada: the attitude of bitcoin not worried

The Canadian government of electronic money has not taken any measures in the Senate Banking Committee, governor of the Central Bank of Canada said, now on the digital currency intervention is premature.

The Canadian government views on digital currency has remained neutral. Earlier this year, Canada’s finance minister said the plan adjustment for digital currency, in order to prevent the illegal financial activities.

The Canadian bank president Stephen Poloz said: “digital currency is still in its infancy, is not mature, we have a long way to go, we must consider the impact of policy. “