Tag Archives: Bitcoin

Australian banks freezing bitcoin transactions

Reported by | Updated: January 2, 2018

Australian banks seem to have launched a sort of crackdown on bitcoin. They have started freezing those accounts found to be involved in the purchase of bitcoin as also bitcoin transactions. The banks involved are the National Australia Bank, ANZ, Commonwealth Bank of Australia and Westpac Banking Corporation. However, it is not clear whether such […]

The Bitcoin fork

Reported by | Updated: August 23, 2017

On 1 August cryptocurrency Bitcoin split into two. One of the resultant entities retained the Bitcoin name, while the other went by the moniker Bitcoin Cash. The immediate reason for the split is the debate over the cryptocurrency’s future – one group stating the underlying technology is not capable of scaling. Bitcoin has been improving […]

South Korea may allow bitcoin transactions

Reported by | Updated: July 14, 2017

Fintech companies in South Korea can register with the Financial Supervisory Services to provide international money transfer services for small funds. Once registered, these companies can use various methods to send money abroad, including using Bitcoin. The amended law specifically permits digital currency remittances. To obtain a permit, a fintech firm must have a paid-in […]

Russia may regulate bitcoin

Reported by | Updated: May 29, 2017

Russia is proposing to accord legal status to bitcoin. The country’s regulator, Bank of Russia is proposing to levy a tax on the digital currency considering it as a digital commodity. Olga Skorobogatova, deputy governor at the central bank, said the regulator will present draft legislative documents for the taxation of crypto-currencies, including bitcoin, in […]

Indian Bitcoin operators form association

Reported by | Updated: February 7, 2017

A group of operators handling Bitcoin in India has formed an industry association to take up issues of common interest. This comes in the wake of the Reserve Bank of India sending out caution notice about virtual currencies such as Bitcoin. The operators, which are part of the association, called Bitcoin and Virtual Currency Association […]

Bank of Canada evaluating bitcoin

Reported by | Updated: June 17, 2016

The Bank of Canada is evaluating bitcoin technology and is conducting tests to understand how it could use the nascent system known as blockchain. The central bank confirmed the experiment dealing in interbank payments in a statement. It stressed, however, that it has no plans to issue a digitized Canadian dollar or conduct tests dealing […]

Philippines may regulate bitcoin ops

Reported by | Updated: June 7, 2016

Philippines is planning to regulate bitcoin operators and exchanges to bolster cyber security systems of banks and financial institutions in the country, according to Central Bank of Philippines deputy governor Nestor Espenilla. He said the central bank has a core IT supervision group and within that group the bank has created a new division that […]