The brothers, who run the Gemini exchange for trading Bitcoin and Ether, have submitted a proposal to create the Virtual Commodity Association, a self-regulatory organization meant to police digital-currency markets and custodians. The non-profit group would aim to develop industry standards, promote transparency and work with regulators including the U.S. Commodity Futures Trading Commission to prevent fraud.
The world’s financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability.
Google will ban advertisements for cryptocurrencies and initial coin offerings from June as part of a move to clamp down on unregulated financial products. Google said in a blog post that it had “updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)”.
Coinbase is officially expanding digital money services in the U.K. and EU. The license now enables the company the ability to provide payment services and issue digital cash alternatives, which can then be used to make card, internet or phone payments.
A major bitcoin exchange has struck a banking relationship with Barclays, a move that marks a break in the ranks of UK lenders who have been shunning the cryptocurrency industry as it comes under growing scrutiny from regulators.
Binance’s vision that “centralized and decentralized exchanges will co-exist in the near future, complementing each other” inspired them to develop the Binance Chain, which will be used for the transfer and trading of Blockchain assets. The move will also push the cryptocurrency exchange toward transforming from a company into a community.
With the ongoing speed of the development of Lightning Network, analysts believe that the official release of the first version of the mainnet can occur anytime soon.
Thailand plans to impose a 15-percent withholding tax on gains from cryptocurrency trade, Finance Minister Apisak Tantivorawong said on Wednesday.
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