Inshorts

Sichuan bitcoin mines can be forced to shut down
June 23,
2017
US Senators call for digital currency oversight

New US bill on controlling Bitcoin and other digital currencies. Two US senators Chuck Grassley and Diane Feinstein have filed a new anti-money laundering bill aimed at strengthening the control over the digital currency activities. According to a summary published by Grassley's office, bitcoin and other digital currencies, while not explicitly spelled out as such, are closer to being defined as a "monetary instrument" under US anti-money laundering statutes.

Banks should start to offer cryptocurrency wallets

Banks need to start offering cryptocurrency wallets. According to venturebeat.com, Bijan Shahrokhi a senior product manager in the financial industry, previously cofounder and CEO of Virtual Next considers, that the only way for banks to stay relevant in the future is to secure their relationship with the cryptocurrency holder today. Nowadays there is a concern among new investors in the space about giving money to new or unproven online cryptocurrency wallet providers and that opens up an opportunity for traditional banks. Banks have a small window of opportunity to jump into the cryptocurrency space.

Sichuan bitcoin mines can be forced to shut down

Chinese government can forcefully cease the work of the largest bitcoin mining farms located in the south-west of the country. As the news.bitcoin.com reports, the reason for closing mines in the area with the most favorable conditions for mining is a lack of state-sanctioned regulatory policy regarding cryptocurrency mining. This province is attractive for crypto-miners due to relatively low tariffs for electricity. The closure can occur at a critical time for the crypto industry, since bitcoin has demonstrated a threefold increase this year.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

June 22,
2017
Israeli banks can legally refuse service to bitcoin

Dangerous trend for Banks and Bitcoin Companies. Newsportal newsbtc reports that according to a new Tel Aviv district court ruling, Israeli banks can now refuse services to Bitcoin companies. Even though the Israeli exchange is fully compliant with all regulations, that does not appear to be sufficient. Proprietary cybersecurity issues of Bank Leumi are the reason for denying service to the exchange. Now it is interesting to see how the Bitcoin ecosystem evolves in Israel over the coming years.

Poland embraces bitcoin and blockchain

Polish cryptocurrency community is striving to engage ordinary people in bitcoin and blockchain technologies. As CoinIdol reports, there will be a number of meetups, with the most popular and large-scale established in Cracow. The topics of meetups are quite various, as the founders aim at involving as many people from various spheres of activity as possible. The cryptocurrency community in Poland is still small, but it is actively developing thanks to great support from the Polish government.

Hong Kong and Australia securities regulators agreement

Hong Kong and Australia's securities regulators have struck a new deal. According to coindesk, the Hong Kong Securities and Futures Commission (SFC) and the Australian Securities & Investments Commission (ASIC) have formally signed a cooperation agreement that provides a framework for information sharing and mutual assistance between the two regulators. The pact could be a boost for innovations in each region.

Blockchain startup to combat advertising fraud
June 20,
2017
Delaware blockchain stock bill is close to its adoption

Delaware is close to legally recognizing blockchain-based stocks. According to coindesk, the law would make stock registries and other kinds of business records legal if they are held on a distributed ledger system or blockchain. To become law, both chambers of the legislature have to finalize the bill, and Governor Jack Carney needs to sign his approval. If finalized, the bill would go into effect on 1st August.

Blockchain startup to combat advertising fraud

Collaborative project aimed at solving advertising fraud using Blockchain technology. DMA and MetaX have partnered to create adChain, Cointelegraph reports. AdChain aims to make the digital marketing and advertising field safer and more efficient for advertisers, users and publishers. The platform will give a sense of full ownership of the web properties for publishers, at the same time blocking off fraudulent users who have the intention to steal ads or information.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.

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