Liechtenstein’s government is drafting blockchain legislation, but will not be heavy-handed, Prime Minister Adrian Hasler has told CoinDesk.
CoinDesk
World’s Largest Cryptocurrency Exchange Binance Moves to Malta, With Prime Minister’s Welcome
The world’s largest cryptocurrency exchange, Binance, has announced that it is planning on opening an office in the warmer climes of Malta.
Founded last year in Hong Kong by Changpeng Zhao, the exchange moved its operations to Japan in response to China’s ban on crypto activities last September. Now, it looks as though the exchange will be relocating again given the recent crack down with Japanese authorities.
In an interview with Bloomberg, Zhao said that Binance is close to securing a deal with banks on the Southern European island country, where it will provide a ‘fiat-to-crypto exchange,’ adding:
We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.
News of Binance’s planned move to Malta comes after the exchange received a warning from Japan’s financial watchdog, the Financial Services Agency (FSA), regarding its lack of an operating license within the country. The cryptocurrency has several staff members in Japan and has been reported as expanding without official permission. Following the news yesterday, Zhao took to Twitter to reassure investors that there was no conflict between Binance and the FSA.
Zhao has said that the company remains in discussions with authorities; however, it’s not known what they outcome will be. In recent months, the FSA has been clamping down on cryptocurrency exchanges in Japan following the January hack at Tokyo-based exchange Coincheck, resulting in the theft of 0 million worth of NEM. As a result, the agency has since suspended two crypto exchanges due to a lack of proper security measures.
The planned move to Malta comes at a time when the country’s policy makers are ramping up efforts for it to become a leader among the digital assets sector. The Malta Independent reported last month that the government had launched a policy document that seeks to set up the Malta Digital Innovation Authority. The aim of it is to provide legal certainty for blockchain-based companies.
Since the announcement, Malta’s Prime Minister and leader of the Labour Party, Joseph Muscat, took to Twitter to give his view on the move, stating that ‘we aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.’
Responding to Muscat’s tweet, one user expressed the view of others by stating: ‘Looks like Malta is thinking ahead unlike some other countries.’
The post World’s Largest Cryptocurrency Exchange Binance Moves to Malta, With Prime Minister’s Welcome appeared first on NewsBTC.
After a Slow Start, Bitcoin Will Hit Its Prime in the Years to Come
A lot of things can change over the course of nine years. In the Bitcoin world, we have seen major changes as well. While there is still work to be done, these are still the early stages of cryptocurrency in general. Adoption will only increase moving forward, as the best has yet to come.
The Bitcoin Story so Far
It has become evident Bitcoin has seen some interesting changes. Things have evolved in an interesting direction compared to nine years ago. It is safe to say the currency has come a very long way since the initial release. What started out as a niche project has turned into the world’s leading cryptocurrency. Moreover, cryptocurrency is now a phenomenon which can’t be ignored any longer.
As of last year, banks finally started showing an interest in Bitcoin. With a few institutions venturing into the world of Bitcoin futures, the tone is set. Other institutions even publicly acknowledge Bitcoin is a threat to their business model. All of this further confirms the best is yet to come for the world’s leading cryptocurrency.
At the same time, some problems have remained. Bitcoin still lacks scaling, it’s not the most technologically-advanced solution, and it is losing traction among early adopter merchants. However, that doesn’t mean people will stop using Bitcoin as a payment method all of a sudden either. In fact, it seems now is a good time to stop thinking about Bitcoin as just an investment vehicle.
What Comes Next for BTC?
The big question is how this industry will evolve over the next nine years. Right now, there is so much focus on the Bitcoin price, people tend to miss out on the big picture. Over one in two Square merchants is willing to experiment with BTC payments. That is an extremely positive signal for the cryptocurrency industry as a whole.When the merchants pay attention to BTC as a currency again, big things will happen eventually.
Survey Shows: Over 50% of Square merchants is ready to accept #Bitcoin. Think #Bitcoin adoption is slowing down? Think again. Adoption of Technology in the US including #Bitcoin: pic.twitter.com/PCp9h1HW4E
— Blockchainlife (@Blockchainlife) March 17, 2018
Moreover, the world’s leading cryptocurrency is maturing in the technology department as well. Scaling is becoming less of an issue with SegWit adoption on the rise. Add the Lightning Network to this trend, and things will only get better from here on out. Additionally, Rootstock is nearing completion. This project will bring smart contract technology to the Bitcoin network.
Additionally, we see the public perception of this cryptocurrency change as well. Adults are becoming aware how BTC can be a part of everyday life without too many problems. The global and borderless nature of this currency has a lot of potential when used properly. The industry also continues to create jobs left, right, and center, which should not be overlooked either. This is still the early stage of development, and a lot of things will change in the years to come.
The post After a Slow Start, Bitcoin Will Hit Its Prime in the Years to Come appeared first on NewsBTC.
Singapore Lawmakers Question Prime Minister Over Crypto Regulation
Members of Singapore’s parliament have asked if the government will reconsider the country’s stance on cryptocurrency regulation.
CoinDesk
Fake News Former New Zealand Prime Minister Denies Investing in Bitcoin
Former New Zealand Prime Minister John Key said he did not advise people to invest in bitcoin, as was stated in a post pretending to be the NZ Herald.
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Fake News? Former New Zealand Prime Minister Denies Investing in Bitcoin
Former New Zealand Prime Minister John Key said he did not advise people to invest in bitcoin, as was stated in a post pretending to be the NZ Herald.
CoinDesk
Crypto Corrupts the Youth? South Korea Prime Minister Says So
Prime Minister Lee Nak-yeon reportedly frets about kids selling drugs and pyramid schemes while regulators draft rules for South Korea’s exchanges.
CoinDesk
Slovenia’s Prime Minister Lauds Nation as ‘Blockchain-Friendly Destination’
Slovenian Prime Minister Miro Cerar has charted an ambitious course for blockchain in the European country.
CoinDesk
Prime Minister’s Son to Head Barbados Blockchain Startup
Barbados-based payments startup Bitt has hired Rawdon Adams, the son of an ex-prime minister, as its new CEO.
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Prime Minister’s Son to Head Barbados Bitcoin Startup
Barbados-based payments startup Bitt has hired Rawdon Adams, the son of an ex-prime minister, as its new CEO.
BitNewz.net