regulation | ForkLog

ForkLog 77 10.03.2016

Russian Ministry of Finance Proposes 7 Years of Imprisonment for Issuance of Cryptocurrencies

Russian ministry of finance proposes to introduce a punishment of seven year-long imprisonment for issuance of money surrogates including cryptocurrencies, Interfax reported with a reference to the agency’s sources in the ministry. The notification as to preparation of relevant amendments to the Criminal Code of Russia was published on March 10 on a site dedicated […]

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ForkLog 83 28.02.2016

Roundtabled Consensus, Ukrainian Breakthrough, and Peaks of Ethereum: Cryptospace News for February 21-27

The week was marked by cryptocalypse in Russia, which had uncovered bitcoin’s cunning plans to demolish the country’s financial system; continuing scalability debates; a Ukrainian breakthrough in blockchain applications; and many more. Bitcoin Price During last seven days, bitcoin did its best to keep with the best traditions of volatility. It managed to solidify its […]

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ForkLog 72 26.02.2016

Russian Authorities Still Undecided on What to Do With Bitcoin

Cryptocurrency-related news from Russia are plentiful this week following a meeting of the parliament lower chamber’s working group on digital currencies. Governmental stance towards cryptocurrencies is apparently yet to be finally determined, as there have been numerous reiterations as to future of virtual money in the world’s largest country.

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ForkLog 140 26.02.2016

Hashing Cash: Will Cryptocurrencies Replace Banknotes?

Earlier this February, German ministry of finance came up with a proposal to limit cash transactions to 5,000 Euros. While the move has launched yet another set of indignation ripples across local society, it can hardly be perceived as something new.

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ForkLog 44 25.02.2016

Russian Draft Law Criminalizing Cryptocurrecnies to Be Reviewed in June

The draft law developed by Russian Ministry of Finance, which implies criminal punishment for issuance and turnover of crytocurrencies, will be submitted to the parliament in June at the latest, TASS reported citing a source in the ministry.

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ForkLog 69 23.02.2016

KYC: Know Your Cryptocurrency

Government institutions are well-known for their continuing attempts to impose controls on everything they may possibly think of. This is not a modern trend; examples of this kind of behavior are identifiable throughout the whole history of humankind. Government is all about controlling after all, and any such entity, be it in ancient Egypt, the […]

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ForkLog 40 16.02.2016

Miners and Developers are not Subject to FinCEN Regulations According to FinCEN Regulations

The recent post by American lawyer Daniel Friedberg launched an extended discussion in the community, with mostly negative stance towards its basic idea. As a reminder, Friedberg stated that in case Bitcoin goes through a hard-fork, one of two resulting currencies will be different from the initial Bitcoin; and as names of the originators of […]

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ForkLog 47 14.02.2016

The European Union May Prohibit Cryptocurrency Transactions from Some Countries

According to the vice commissioner of the European Council Valdis Dombrovskis, the regulations may incorporate prohibition of transactions from so-called “high-risk countries”. Speaking at a press conference in Brussels on Saturday, February 13, Dombrovskis stated: “By June at the latest we will propose measures to […] have better control of payment forms such as virtual […]

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ForkLog 68 12.02.2016

Estonian Bitcoin Trial Reviewed by the State Court

The cryptocurrency trial in Estonia, or so-called “bitcoin case” was reviewed in open court hearing. A Netherlands enrepreneur, Otto de Voogd, faces trial for running a cryptocurrency exchange. Possible punishment for his activities may place him in jail or cause him to pay enormous penalty fee. Open hearing is an uncommon practice for a superior […]

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ForkLog 60 10.02.2016

California Bankruptcy Court to Decide Whether Bitcoin is Currency

On the background of the continuing legal debate concerning the status of bitcoin as commodity, currency, or property, a bankruptcy court of California is expected to rule whether bitcoin should be deemed a currency on February 19. The ruling is expected to conclude a lawsuit of HashFast mining company’s trustee Michael Kasolas against Marc Lowe, […]

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ForkLog 74 04.02.2016

Nations of the Commonwealth are Offered to Legalize Bitcoin, Still Anonymity Is An Issue

The governments of the Commonwealth’s of Nations (formerly known as the British Commonwealth) Working Group on Virtual Currencies published a report calling all 53 member states to initiate a discussion on legalization of Bitcoin and other cryptocurrencies.

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ForkLog 48 03.02.2016

Russian Ministry of Finance Says Bitcoin Could Threaten National Security

According to Russian Ministry of Finance, the so-called money surrogates, a term usually encompassing cryptocurrencies, may be a threat both to the country’s economy and national security.

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