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.

Economics commentator: virtual currency deposit fraud risk bitcoin or become a collection of encryption currency

Economics commentator: virtual currency deposit fraud risk bitcoin or become a collection of encryption currency

Economics commentator Pan said: many of the market’s virtual currency universal shortcomings can be faked, and that the virtual currency has the disadvantage, even speculators are reluctant to sought after.

He said: virtual currency is a common currency in the virtual space, such as the game currency is one of them. Without encryption processing of virtual currency fraud is difficult to counterfeit “millionaire” game money more easily.

Pan Lectra further pointed out: although it is a kind of encryption currency of the virtual currency, but because the encrypted, the security is relatively good, but we have to see the encryption technology, or otherwise will face various risks.

He also talked about the pan National Bank World bitcoin bitcoin, said in terms of encryption has its originality, because the currency block chain technology, the data has not been tampered with, and all mining output or exchange to bitcoin, bitcoin users need to pass all the verification to take effect.

Rick pan also said that on the one hand, bitcoin in the underlying technology to ensure the safety at the same time, also restricted the widespread use of the currency in terms of technology. Because when the user verification, will cause the transaction time is too long, if bitcoin can solve this problem, it will be a large number of real circulation, then countries will also launch its own encryption currency. However, affected by this, bitcoin is likely to become a collection of encryption currency, but the value of the collection is difficult to judge.

He pointed out that may be related to human technology bitcoin monetary system are in fact, so that Malaysia central bank will launch encryption monetary policy, will focus on research and experiment, which may not have too many regulations.

Economics commentator: virtual currency deposit fraud risk bitcoin or become a collection of encryption currency

Economics commentator: virtual currency deposit fraud risk bitcoin or become a collection of encryption currency

Economics commentator Pan said: many of the market’s virtual currency universal shortcomings can be faked, and that the virtual currency has the disadvantage, even speculators are reluctant to sought after.

He said: virtual currency is a common currency in the virtual space, such as the game currency is one of them. Without encryption processing of virtual currency fraud is difficult to counterfeit “millionaire” game money more easily.

Pan Lectra further pointed out: although it is a kind of encryption currency of the virtual currency, but because the encrypted, the security is relatively good, but we have to see the encryption technology, or otherwise will face various risks.

He also talked about the pan National Bank World bitcoin bitcoin, said in terms of encryption has its originality, because the currency block chain technology, the data has not been tampered with, and all mining output or exchange to bitcoin, bitcoin users need to pass all the verification to take effect.

Rick pan also said that on the one hand, bitcoin in the underlying technology to ensure the safety at the same time, also restricted the widespread use of the currency in terms of technology. Because when the user verification, will cause the transaction time is too long, if bitcoin can solve this problem, it will be a large number of real circulation, then countries will also launch its own encryption currency. However, affected by this, bitcoin is likely to become a collection of encryption currency, but the value of the collection is difficult to judge.

He pointed out that may be related to human technology bitcoin monetary system are in fact, so that Malaysia central bank will launch encryption monetary policy, will focus on research and experiment, which may not have too many regulations.

Bitcoin prices above $5300 for the first time this year has risen to about 454%

Bitcoin prices above $5300 for the first time this year has risen to about 454%

  

Beijing time 13 days morning CNBC said the price of bitcoin EST on Thursday for the first time exceeded 5300 dollars, a record high.

Industry website Coindesk data show that bitcoin prices rose by 11% on the same day, to $5386.23, more than the previous record of $5013.91 in September 2nd. So far this year, bitcoin prices rose about 454%.

Analysts pointed out that the bitcoin hard next month before the bifurcation of investor interest rise is contributed to the recent surge in prices. In August this year, the split into digital currency bitcoin and bitcoin cash, bitcoin investors get the same number of bitcoin cash at the time. However, all digital currency exchange does not support this immediately after the split currency.

In bitcoin driven by most other digital currency has also risen. The ether currency rose to about $305, bitcoin rose to about $316 in cash.

At the same time, investors seem to be negative news about bitcoin from the regulatory agencies of the lukewarm response. Last month, Chinese regulators banned the issuance of initial tokens (ICO), and several of the largest closed encryption currency exchange.

But in the past few days there are rumors that bitcoin transactions may recover in China. Encryption currency news website Cryptocoinnews.com quoted the Xinhua news agency said, bitcoin transactions are likely to recover by more stringent supervision, which may include the new business license, and the anti money laundering supervision measures.

A city in Switzerland will accept bitcoin.

A city in Switzerland will accept bitcoin.

According to local news reports, the Swiss city of Chiasso will begin to accept bitcoin payment.

The plan is apparently decided after discussion with the area of various block chain groups, will begin early next year.

The report pointed out that the plan also set some restrictions, such as paying with bitcoin tax shall not be more than 250 Swiss francs ($265).

The report quoted the Chiasso city mayor BrunoArrigoni said, he pointed out that the city is the economic center of technology and international recognition of the increasing development of switzerland.

Chiasso is known as the “encryption polis” (CryptoPolis), positioning itself as the Swiss city center block chain Zug competitors. According to reports, in the past few months, there have been eight companies set up in Chiasso.

As the “Switzerland Zug encryption Valley” in the world enjoy a high reputation, the city announced in 2016 will allow people to use digital currency payment service government. However, bitcoin pay taxes to the residents of Zug and did not take any measures to choose.

The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

Mexico’s central bank governor Augustin? Carstens (AgustinCarstens) refused to adopt a “virtual currency” as the legal classification of bitcoin. Carstens believes that the word “currency” including bitcoin inappropriate classification, because bitcoin without a central bank to support or issue.

In addition, the new Mexico bill may change the fate of bitcoin.

Carstens believes that bitcoin lacks the support of the central authorities, so it cannot be classified as “virtual currency”.

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

The governor of Mexico’s central bank argued that encryption currency should belongs to the network security areas of government rather than by the state regulatory agencies as a “virtual currency”. Carstens pointed out that the encryption currency “can not from hackers, and that bitcoin largest utility is” it provides anonymity facts for users”. Prior to this, he warned that bitcoin is an attractive tool for monetary market entity.

Carstens suggested that the Mexico authorities seek carefully to promote the development and application of encryption technology in the currency of the national financial system. Carstens in the Mexico independent research institute (autonomous InstitutoTecnologico) delivered a speech that “the technological development of the financial system is not only the result of innovation”. There must be a free step, will not cause problems — suggests that Mexico’s central bank will seek to actively guide the encryption technology into monetary economy of Mexico ultimately affect the entire social financial system. Carstens also said, “the financial authorities will soon put forward a detailed proposal on crypto currency legislation.

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”. Carstens will continue to bitcoin described as a “commodity”, he argued, “in the financial system have nothing to ensure its accounting”, which means that the central government is the necessary quality of money “.

Earlier this year, Mexico proposed a bitcoin is defined as digital assets act, and clarify the bitcoin exchange operations. The bill is aimed at Mexico government proposed to help more digital economic transformation, promote the Mexico science and technology financial industry growth, a part of the expansion of ordinary citizens to provide financial services to the new financing bill. Although he refused to bitcoin is classified as “virtual currency”, Mexico regulatory stance on encryption currency is currently in Latin America’s tolerance and freedom.

TF Rex launched bitcoin bitcoin Trading Fund derivatives will increase

TF Rex launched bitcoin bitcoin Trading Fund derivatives will increase

Public records show that in Connecticut, ETF company is launching a new fund, to invest in bitcoin exchange derivatives and other products.

ETF Rex was founded in 2014, according to the U.S. Securities and Exchange Commission (SEC) submitted a new file, ETF Rex submitted a “Rex bitcoin Strategy Fund yesterday”. The fund does not invest directly in the encrypted digital currency itself, but to buy bitcoin bundled futures and exchange traded notes, to create new market opportunities.

The company’s preliminary prospectus pointed out:

The fund does not directly invest in bitcoins, but directly or indirectly invest in bitcoin price volatility of financial instruments, including bitcoin price or index related futures contracts traded in the United States and / or listed (bitcoin futures).

Rex announced that the company is creating a commitment to the development of encryption around digital assets (such as bitcoin) to establish a subsidiary of investment products. In a statement, on behalf of the company said it will seek to create a variety of products in the next few years.

Rex, CEO of GregKing said: “we believe that the encrypted digital currency is a tremendous innovation, will affect the financing and investment in the next few decades.

This document represents the latest efforts to increase the use of bitcoin derivatives momentum.

For example, earlier this month, the exchange option CMOE announced plans to launch later this year, bitcoin derivatives, in cooperation with the New York stock exchange Gemini, although the plan is still awaiting regulatory approval. CoinDesk this month also reported that the United States money manager VanEck is seeking to launch its own bitcoin Trading Fund (ETF).

At the same time, SEC approval in some with bitcoin related investment products showed a certain degree of silence, this may be the most significant to investors Cameron and TylerWinklevoss proposed the bitcoin trading fund. SEC then began to review the decision, but it is unclear whether the agency will be the final approval of the resolution.

More than gold? Bitcoin transactions beyond the world’s largest gold ETF

More than gold? Bitcoin transactions beyond the world’s largest gold ETF

A few weeks ago, Goldman started covering bitcoin. Subsequently, the bank said in a report, bitcoin is still large fluctuation and high risk. The United States bank commodity strategist FranciscoBlanch said, bitcoin is not associated with any financial assets, there is no way to explain, let alone predict performance.

However, in the past 6 months, bitcoin trading volume continued to increase. Now, bitcoin even more popular than gold, bitcoin daily trading volume exceeded the world’s largest gold ETFGLD.

As the Bank of the United States pointed out: “it’s hard to ignore such as bitcoin and other major digital currency trading volume surged in recent years. In 2012, bitcoin daily trading volume of $400 million, and now has risen to about $2 billion. This means that the daily trading volume of bitcoin has exceeded GLD.

With the increase in trading volume, bitcoin also won the attention of regulators.

The Commodity Futures Trading Commission (CFTC) said on Monday that it has been to New York a bitcoin exchange option LedgerX licenses, allowing the transaction and settlement bitcoin derivatives contracts. This is the first time for CFTC to digital currency derivatives trading licence.

The license LedgerX to provide clearing services for the digital currency fully collateralized swap. The goal of LedgerX is to provide a digital currency fluctuation risk hedging derivatives for institutional investors.

The company’s chief executive officer PaulChou said: “the regulation finally mature, institutional investors will be able to get bitcoin and bitcoin derivatives. Our goal is that when investors deal with us, and the trading of gold and crude oil can be obtained as supervision.”

Heard on the street mentioned earlier, previously, due to the lack of related facilities, to bet on bitcoin derivatives market traders have to strictly carry out transactions in the OTC market. But now at CFTC derivatives clearing agency LedgerX qualification, it will be the first federal regulatory bitcoin options exchange and clearing house. At that time, traders will be able to present institutions trading in bitcoin related derivatives.

The India company refused to pay ransom in bitcoin, why?

The India company refused to pay ransom in bitcoin, why?

India is affected by the global network attack effect of third big countries. It is said that India has forty thousand national computer attacks. A network security company said, to monitor the affected computer 60% is for the Windows system of enterprise customers, the rest is for individual customers.

According to the India Economic Times reported that many of the affected companies in India is still from the extortion virus to come out of the shadows, but does not intend to pay the ransom bitcoin, because of concerns about the connection with encryption currency.

Reported that the India network security company CEO Manan Shah (MananShah) pointed out that “in the past three or four days, there have been fourteen customer contact with me, not a customer is willing to pay for bitcoin ransom. They think bitcoin payment is not legitimate.”

Although there are a lot of India in the past to prohibit the use of bitcoin political appeal, but for the moment, India neither admitted nor denied the legitimacy of encryption currency. The Central Bank of India in February this year issued a notice, reiterated in a statement on 2013, to remind residents of India or other digital currency bitcoin transactions must be at risk.

However, with the growing popularity of bitcoin, the digital currency is becoming more and more popular, forced the India government to take action in the last few months. In April, the Ministry of finance of India formed a committee to study and put forward the legal framework of digital currency. From this point of view, the government intends to standardize the management of this industry, also bitcoin in India is likely to gain legal status that.

At present, India bitcoin industry is the implementation of the autonomy system. Bitcoin users must comply with the “know your customer” (KYC) this policy and to submit written information and other details. Therefore, in India, from application to may need two days by bitcoin exchange to the end user to bitcoin wallet.

Bitcoin to delayed account, one reason the India company is also unable to pay the ransom. Extortion threats, if refused to pay the ransom, three days after the ransom doubles, seven days later, the data cannot be recovered.

What DDT partner in PA he zarati (ShreeParthasarathy) told the media that “the affected companies have three kinds of attitude. A small number of companies are taking a wait-and-see attitude, hope that their data can be restored. Several companies have paid a ransom, they are waiting for data to unlock. The enterprise risk prevention consciousness is to recover the data from the offline backup.”

Bitcoin gained a huge space or in 2030 rose to $500 thousand?

Bitcoin gained a huge space or in 2030 rose to $500 thousand?

In the past 7 years, 6 years, bitcoin has been the world’s best performing currency, the price climbed from 0 to about $1190 now.

However, the first Snapchat investment Jamie? Liu, and CEO of blockchain and co-founder Peter? Smith believes that bitcoin is far from our full potential. They believe that by 2030 per unit price of bitcoin or rose to $500 thousand.

The views of Liu He Smith made a growing interest in bitcoin investors based on the increasingly strong, and the following are three reasons of bitcoin investors are increasingly interested in:

Bitcoin remittances increase

According to the world bank, in the past 15 years remitted to the overseas remittance payments, or electronic remittance almost doubled, currently amounting to 0.76% of gdp.

Liu He Smith pointed out that “foreigners send money back home have found that bitcoin is an inexpensive alternative. We believe that with the rise of bitcoin awareness, bitcoin based remittance proportion will increase greatly.”

Increased uncertainty

Liu He Smith said, the United Kingdom and the United States increased and some political uncertainty Chinese development, will help improve the investors bitcoin interest. Two people said: “we believe that with the geopolitical risk upward, high awareness, high mobility, mobile convenience and continued to perform better than the market and many other features, will make bitcoin consumers and investors heart strong currency competitors.”

Mobile penetration uplink

Liu He Smith believes that with the relationship between the world and the intelligent mobile phone is more and more closely, the next 10 years of non cash transactions in total transaction ratio from 15% to 30%. At present, the global intelligent mobile phone penetration rate is only 63%, to 2020 the total intelligent mobile phone users is expected to increase 1 billion. Global system for Mobile Communications Association (GSMA) believes that these users in 90% from developing countries.

This will make almost all pockets may have 1 banks, but this should give a boost to bitcoin. Liu He Smith believes that bitcoin may occupy 50% of all the trading share.

The following is driving several basic modes of Liu and Smith use:

1.2017 years, per bitcoin price of $1000.

Until 2030 2., Internet users will increase 61 times than now. In a BI interview, Liu He Smith said, “in other words, to witness bitcoin climbed to a high of $500 thousand, the number we need bitcoin users to reach Chinese population of 25% (or 5% of the world’s population).”

3. each user holds bitcoin value will reach $25 thousand. At present, the average bitcoin market capitalization of $16 billion 400 million, the number of users is 6 million 500 thousand, the average per user holds $2525 worth of bitcoin.

4.2030 years of bitcoin’s market value will be multiplied by the quantity of bitcoin holders held by the average value of bitcoin’s decision.

The supply of 5.2030 years bitcoin will be around 20 million.

The price and the number of users 6.2030 years bitcoin for $500 thousand and 400 million respectively.