A restaurant in Manhattan that only accepts cryptocurrency
China has banned foreign exchanges from several sites lost is cryptocurrency.
On 4 February, the people’s Bank of China (PBOC) announced that China will strengthen measures against sites of cryptocurrency exchanges and ICO. After the ban ICO and stock exchanges in September last year, many companies relocated to Hong Kong, are not subject to these regulations. However, now the government has announced the official ban of foreign exchanges «to prevent financial risks.» At the same time edition of South China Morning Post reported that the search engine Baidu and Weibo microblog missing is cryptocurrency. Weibo confirmed the prohibition associated with the cryptocurrency advertising. Last week in the fight against potentially fraudulent activities from advertising cryptocurrency refused and Facebook, and Google have reported a tightening of policies regarding advertising content and the «active control».
Russian regulator proposes to accredit issuers cryptocurrencies.
The head of the Ministry Nikolai Nikiforov said that the Ministry is going to accredit organizations that are allowed to produce «digital tokens»: «Need to define a set of criteria and rules in which this can be done for Russian rubles in the Russian jurisdiction, and so forth,» — said Nikiforov. The Ministry of communications has already prepared the corresponding bill. Answering the question about the legalization ICO, Nikiforov said that «digital tokens, probably, should be allowed to buy Russian rubles,» provided that the issuers will be accredited, and said: «I Hardly need to allow some foreign exchange operations with them is contrary to the essence of our banking legislation.» In favour of accrediting the ICO had previously been RAKIB. The Minister also spoke about the need to legalize the blockchain, which «can change a lot in how we run government accounting, public services, protected information, organize the cooperation,» but stressed that it is impossible to confuse blockchain with cryptocurrencies: the last to legalize is not necessary. In addition, according to Nikiforov, the blockchain in Russia should be based only on domestic encryption systems: «We don’t want to build such serious domestic system to foreign algorithms».
South Korean regulators considers blockchain the «fourth industrial revolution».
During a visit to China Finance Minister of South Korea Kim Dong-Yon talked about the potential of the blockchain, which can «change the world». During a meeting with Chairman of the people’s Bank of China Governor Zhou Xiaochuan, Dong Yong also stressed the need for joint work on blockchain technology. News site Chosun reports that, according to the Minister, the financial regulator of South Korea is not going to prohibit or restrict the use of cryptocurrencies: «the Blockchain is an important technological breakthrough that launches the fourth industrial revolution, and the Ministry will be attentive to the regulation of the cryptocurrency market.» According to Dong-Yon, «strict regulation» will be applied only in cases of criminal use of crypto-currencies. The Minister of Finance believes that cryptocurrencies and the blockchain are inextricably linked: «For blockchains open source cryptocurrency necessary as an incentive to use the network».
Circle are going to purchase exchange Poloniex.
On Friday, February 2, edition of Modern Consensus announced that mobile payments startup Circle is in the process of acquiring American cryptocurrency exchange Poloniex. While details of the deal are unknown, but according to the insider, the two sides came to an agreement: Circle appealed to the regulator to legitimize the transaction, and the controller provided the requirements for KYC (Know Your Customer), which in Circle has pledged to abide by. The Circle Board member Raj Dade stated that it «is in Europe» and «could not comment on this information» while Ari Paul, CIO of hedge Fund Blocktower Capital, called the article «fake news» and has denied the information about the deal, citing its own source in the Circle. It is known that Poloniex had difficulties for several months. Users have reported problems with the output and customer service, the failures in which exchange did not return the funds if you cancel the orders, as well as on forced liquidation.
eBay refuses PayPal, which does not support cryptocurrencies.
The Internet auction site eBay announced the termination of exclusive cooperation with PayPal and the subsequent complete rupture of relations. The company begins the transition to the payment system of Adyen, which allows transfers in 150 currencies and is already a partner of BitPay. By virtue of the cooperation agreement, PayPal «will continue to provide eBay a comprehensive payment solution until July 2020», the press service of the payment service. The company also signed an agreement of intent according to which PayPal should be available on eBay until July 2023. PayPal confirmed that in the future will become the main Adyen payment service eBay: by 2021, it will be most transactions, but this year the system will be available to eBay customers in North America.