The issue is that the blockchain records the movement of bitcoin, not the movement of other currency
Bitcoin is the cryptocurrency that refuses to die
Bitcoin is used for payments and Ether automates any number of processes using smart contracts
Reports of introducing trading services in alternate currency is making rounds in India
Investors need to weigh risks and rewards of alternative asset class carefully before betting on it
A series of gains raises investor confidence that they will last indefinitely
Bitcoin hit a record of $2,409 on the BitStamp platform and was last up 4.3 per cent at $2,363
The Union finance ministry has invited suggestions on whether digital currencies like Bitcoin should be banned or allowed but regulated, and if so, if self-regulation is desirable. It wants feedback by the end of the month.Earlier, a committee of bureaucrats had been asked to study the issue. In recent times, Bitcoin has been recognised by Japan; it has also been used to ask for ransom money.Bitcoin start-ups Zebpay, Unocoin, Coinsecure and Searchtrade had in February jointly launched a Digital Asset and Blockchain Foundation of India (Dabfi) as a self-regulatory body. Nishith Desai Associates, a global legal entity, was appointed advisor for developing the regulations. They argue that currencies such as Bitcoin should be allowed self-regulation. Banning it, say they and others, does not seem sensible, with its rising acceptability in parts of the world. If the government is to regulate it, there would be various issues. Digital or virtual currencies are not so defined under the laws .
Unit of Bitcoin passed dollar value of one troy ounce of gold this year
Cases of misuse of virtual currencies are rising as fast as their prices are
Its current levels put the total value of all bitcoins in circulation close to $25 bn
The USSEC has already rejected an application to create an ETF for Bitcoin
The RBI has already cautioned users, holders and traders of virtual currency
Bitcoin hit a five-week low of $944.36 on Saturday
Bitcoin start-ups Zebpay, Unocoin, Coinsecure and Searchtrade have jointly launched a Digital Asset and Blockchain Foundation of India (Dabfi), with the aim of orderly and transparent growth of the virtual currency market. The body will work as a self-regulatory organisation (SRO) for this business. And, has appointed Nishith Desai Associates, an international law firm, to develop self-regulation norms for the segment.A committee for the SRO has been constituted, with the members comprising Sandeep Goenka (Zebpay), Mohit Kalra (Coinsecure), Sathvik Vishwanath (Unocoin), Harish B V (Unocoin) and Vishal Gupta and Rashmit Gupta (Searchtrade).Dabfi will prepare self-regulatory regimes for trading of bitcoins and other blockchain-based digital assets. And, standardise Know Your Cusotmer (KYC) and anti-money laundering norms for member companies. It is to also build credibility and create awareness about the benefits and risks, liaise with regulators and get clarity on taxation, attract ...
A portion of blockchain fund to come from initial coin offering
Traditional financial players calls it volatile, complicated, risky, and doubting its inherent value
If not done within 14 days, the insurer can reject vehicle damage claims arising in the future
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on yuan
That includes a new website as well as updated iOS and Android apps, reports Tech in Asia