Cryptocurrency News for 12 Sep 2017

How Gibraltar Attracts US Investors in Bitcoin: Expert

With Gibraltar already becoming a huge success in the gaming industry, it now plans to do well in the cryptocurrency field.

Aaron Payas, senior associate lawyer at Hassan’s International, bets on Gibraltar as a place where you can domicile your cryptocurrency or business funds.

Recently the government of Gibraltar has published DLT Framework proposals with Gibraltar Financial Services Commission. In his tweet, Payas mentions Gibraltar as an excellent place for ICOs and investing in cryptocurrency businesses.

According to Payas, DLT and CC entrepreneurs have been looking for a reputable jurisdiction where they can base their HQ and be regulated, so the proposals have already been greeted with positive feedback.

Full story at http://bit.ly/2xSaiaO

Source: CoinTelegraph

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Russia’s Finance Ministry Drafts Law to Legalize Cryptocurrencies

The Russian Finance Ministry is drafting a bill to regulate the circulation of cryptocurrencies, said the Finance Minister Anton Siluanov in an interview aired on “Russia 1” TV channel on Saturday. The Russian state-owned news agency Tassquoted him saying:

All countries are working to legislatively regulate the use of this financial instrument, and the financial instrument is very volatile, that is, today it has one price, tomorrow another. In order for us not to have so-called deceived investors, regulation is necessary. The Ministry of Finance will prepare such a draft law by the end of the year.

In the interview, he reiterated what he said on Friday at the Moscow Financial Forum’s press conference.

“There is no point in prohibiting them [crytocurrencies], it is necessary to regulate them,” he said, adding that the draft law “will regulate the procedure for acquiring, circulating, and registering participants who are going to invest and buy this instrument,” RBC detailed.

Full story at http://bit.ly/2xZhO4q

Source: Bitcoin News

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What you need to know about the latest Bitcoin boom

You may have noticed reports about Bitcoin’s value recently – its price is headed into the stratosphere.

The crypto-currency’s recent meteoric price rise over the summer has seen one Bitcoin go from being worth $1,500 in early May to more than $5,000 over the weekend, before dropping to $4,654 at the time of publication.

And that has got all kinds of people interested – people like Andrew Beckwith, a DJ who goes by the name Supersede. “I play restaurants, lounges, nightclubs, corporate events,” he says.

But he also invests. Beckwith has just taken his first step into the world of crypto-currencies, having converted $100 into Bitcoin.

Full story at http://bbc.in/2xRUfKg

Source: BBC News

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Howard Marks: “There’s no Reason Bitcoin Can’t be Labeled as a Currency”

In the eyes of most people, Bitcoin is not a currency. That status quo may not change anytime soon either, unfortunately. However, Oaktree Capital founder Howard Marks has a very different opinion. While originally a skeptic, Marks has started to warm up to cryptocurrency. In his opinion Bitcoin should be a currency, as there is no reason why it can’t be one. An interesting turn of events, although it remains to be seen if any government will take his words to heart.

It has always been difficult to apply traditional terms of cryptocurrency. Bitcoin is unlike any other form of money most people have ever come in contact with. It offers unprecedented control over finances with any intermediaries involved in the process. Howard Marks was originally one of the people who wasn’t a big fan of cryptocurrency at first. In fact, he called Bitcoin a “fad” earlier this year. The overwhelming comments from the cryptocurrency community have had the desired effect.

Full story at http://bit.ly/2y01Qaq

Source: NewsBTC

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4 Key Misconceptions About Cryptocurrency

It’s impossible to ignore the global rise of cryptocurrency. With Bitcoin becoming a better investment than gold and global institutions such as the UN adopting Bitcoin and Ethereum, it’s clear that crypto is here to stay.

Despite its seeming inevitability, crypto remains mysterious to the average person. To many, the word "blockchain" is still gibberish. Lack of knowledge leads to misconceptions about the technology and lingering doubts about its value.

During a recent discussion with Eric Lamison-White, Co-Founder of Pareto Network, we covered common misconceptions surrounding cryptocurrency. Pareto Network is a company that uses digital currency payments to incentivize objective financial information within its network.

Bitcoin and cryptocurrency markets have a lot of liquidity, with surges in activity every day, Lamison-White explains. "And while the market has its share of ups and downs, instantly buying or selling Bitcoin at the quoted price is actually a very straightforward procedure."

Full story at http://bit.ly/2xZjbA6

Source: The Merkle

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Russia Faces Internal Battle Over Bitcoin

A lot can happen in month. Russian institutions went from preparing the Moscow Stock Exchange for the legal trading in crypto-currencies like bitcoin and ether, the two most popular ones used in Russia, to coming a hair away from following in China's footsteps and banning initial coin offerings (ICO), a crypto-currency funding mechanisms for new tech companies.

"The use of crypto-currency as a surrogate for the ruble in trading in goods and services, in our opinion, has a risk of undermining the circulation of money," central banker Elvira Nabiullina told Russian newswire Tass on Friday. "We will not allow the use of crypto-currency as a surrogate money," she said without mentioning ICOs in particular. One can only speculate that those crowdfunding platforms are on her radar.

Nabiullina is arguably one of the most powerful women in Russia. She has Vladimir Putin's ear on all things economic and financial. Putin defers to her on such matters.

This summer, Putin met with Ethereum developer and CEO Vitalik Buterin to discuss developments in so-called blockchain technologies, the tech platforms that provide the backbone to digital money. Buterin later told a local newspaper in Tatarstan that he felt Putin was opening to these new technologies as a matter of Russian national tech strategy. "Many people at different levels of the Russian government are open to crypto-currencies. I think my meeting with Putin helped him see things clearer," Buterin was quoted as saying in Tatarstan's online daily Realnoe Vremya.

Full story at http://bit.ly/2xVMcwL

Source: Forbes

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