Cryptocurrencies Are ‘Perfect,’ But Often Used for Illicit Activities

Cryptocurrencies are “perfect”, but are often used for bad purposes, executive chairman of multinational Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) Francisco Gonzalez Rodriguez stated in an interview with CNBC Friday, September 14. Gonzalez has claimed that the world is going through “an incredible digital revolution” which will eventually lead to a new world order. However, the BBVA executive has also stressed that there are “ripple effects” that must be understood. He further explained the risks of digital technologies: “Cryptocurrencies are perfect, but are used for bad purposes today,…

How Cryptocurrencies Are Regulated in Central Asia

As been reported on September 2, the president of Uzbekistan, Shavkat Mirziyoyev, ordered the establishment of a state blockchain development fund called the “Digital Trust.” Earlier in September, a decree legalizing crypto trading — also making it tax-free — and mining in the country came into force, making Uzbekistan a crypto-friendly state. But how is the rest of the Central Asia region is holding up? The list below is based on thorough news research, but should in no way be considered complete. If you have more detailed information on banks…

Circle Survey Finds Twice As Many Men Invest in Cryptocurrencies As Women

One in four millennials are interested in investing in cryptocurrencies over the next year. Crypto payments startup Circle conducted a survey of more than 3,000 individuals earlier this week, finding that a majority of millennial investors believe themselves to be “aggressive,” according to the results. Three different generations were interviewed – millennials, generation x and baby boomers. The Goldman Sachs-backed payment platform used Survey Monkey to collect its results, though only it only published responses from users who identified as “aggressive investors.” Notably, the results found that nearly twice as many…

New York Judge Rules Securities Laws Can Apply to Cryptocurrencies

In what appears to be the first U.S. court case to address the matter, a New York federal judge has ruled that U.S. securities laws are applicable for prosecuting crypto fraud allegations, Reuters reports September 11. U.S. District Judge Raymond Dearie ruled that the case against Brooklyn resident Maksim Zaslavskiy, which alleges that he defrauded investors in two cryptocurrencies reportedly backed by real estate and diamonds, can continue. Dearie ruled Tuesday, Sept. 11, that federal securities laws should be interpreted “flexibly,” dismissing a motion from Zaslavskiy’s lawyers to drop the…

Russia Not Ready for Issuance and Circulation of Cryptocurrencies

A special representative of the Russian president said that the country is not yet ready for the circulation and issuance of cryptocurrencies, according to local news agency RIA Monday, September 10. The president’s Special Representative on digital and technological development Dmitry Peskov explained his view on the state of digital assets in an interview with RIA: “From the start, we have not legally suppressed blockchain and cryptocurrencies, and are trying to bring them into a normative space. But the government must give fair warning, that there is a high risk…

How Cryptocurrencies Are Regulated in the Middle East

On Sept. 4, the government of Bahrain, a constitutional monarchy in the Persian Gulf, emphasized the importance of blockchain for the country’s economy. While the kingdom seems to be taking a rather positive approach toward crypto, the Middle East at large has proven to be a difficult region for virtual currencies, as a large chunk of countries there have banned crypto trading. Nevertheless, the Middle East seems to be on its way to become the global blockchain powerhouse: From Dubai to Tel Aviv, the technology is being thoroughly researched and…

USD Is the Most Actively Traded Fiat Against Cryptocurrencies, Study Says

Management and technology consulting firm GreySpark has found that U.S. dollars are the most actively traded fiat currency against cryptocurrencies in a new study published September 4. The study focuses on the recent popularity of cryptocurrencies that went viral in late 2017, when Bitcoin’s (BTC) price peaked at $20,000. GreySpark experts found that crypto prices correlated with Google search interest. For instance, the fluctuation in the price of Bitcoin (BTC) between $19,000 and $20,000 corresponded with the record-breaking amount of searches for “Bitcoin” and “cryptocurrency”, the study outlines. Correlation between…

Stock Brokerage EF Hutton Rates Cryptocurrencies to Help Clients Track ‘Rapid Developments’

U.S. stock brokerage firm EF Hutton announced it would release research and ratings of cryptocurrencies and industry businesses for its clients Wednesday, September 5. EF Hutton, whose affiliate Megga Inc. previously launched its own cryptographic token MeggaCoin last year, said in a press release it wants to assist “confused” investors who are keen on gaining a better understanding of the space. “A great many investors are confused by the rapid developments in this new asset class,” CEO Christopher Daniels commented, adding that the move represented “the first of many initiatives”…