Calls for CryptocurrencyRegulationGovernmental leaders from around the globehave put cryptocurrencies such as Bitcoin in their sights, calling for moreregulation and taxation in order to prevent them from being used for criminalactivity. Lawyer files PIL onCryptocurrency Bivas Chatterjee, a Kolkata-based lawyer, hasfiled a public interest litigation (PIL) seeking to force action on theregulation of cryptocurrency in India. He is demanding that a legal frameworkfor cryptocurrencies be implemented across the country. In this petition, heoutlines the vitality of a structured rule system due to the relationshipbetween cryptocurrencies and criminal activities such as money laundering. Path of CryptocurrencyRegulation is ‘Clear as Mud’:Norm Champ; BANKING/FINANCESecurities industry regulators continue toissue warnings about the high demand for cryptocurrencies as prices continue tofluctuate.
As a result of these wild markets swings, it is becomingincreasingly inevitable that regulators must come to an alliance in order tocreate more stability for future investors. Global Crypto Regulations’May Take Years’, experts warnThe cryptocurrency environment currentlyremains largely unregulated in most jurisdictions worldwide. Due to their morefavourable attitudes, Singapore, Switzerland and other developingcountries have paved the way towards issuing the first comprehensivecryptocurrency regulations.
This in turn, allows for more financialtechnology companies to commence operation in a world increasingly focused oncryptocurrencies. However, experts believe this process ‘may take years’ andhave announced that they will focus on initiating practices that generateenough risk to warrant a regulatory response. Payments; Businessombudsman Titov advises entrepreneurs to engage in cryptocurrency operations Brois Titov, a business ombudsman, hasannounced his belief that entrepreneurs need to immerse themselves incryptocurrency markets as they are mostly unregulated. He notes that certainrules must be introduced that encourage the development of this area, andguarantee to the state that investor rights will be protected.
OFFICIAL: NoCryptocurrency Trading Ban in South Korea, Government Says The official residence of the South KoreanPresident, The Blue House, has announced that cryptocurrency trading will betemporarily prohibited. South Korea’s plans to ban virtual exchanges are yet tobe finalised as government agencies are still in negotiation on how they willregulate the market. This decision caused Bitcoin’s price plummeting and sentthe virtual coin market into chaos. This nationwide clampdown is a crucialsource of global demand for cryptocurrency, foreshadowing the continuedstruggle for regulators worldwide who battle to govern an asset whose value hasskyrocketed in recent months. DAFZO to Disruptlogistics industry with its patented Technology DAFZO, a UK-based start-up plans to disruptthe USD 8,797 billion logistics industry with its patented technology, afterrecently filing for an application in the UK and Europe. As the world’s firstblock chain-based global P2P Logistics platform, it proposes a morecost-effective ecosystem which creates additional benefits for users byreducing the Turn Around Time (TAT) of shipment and the hefty transaction feeof financial intermediates.