Blockchain Projects Go From Boom to Bust in 15 Months

A Chinese government analysis has concluded the average lifespan of a blockchain project is 1.22 years, sources report May 28. Speaking at the ongoing China International Big Data Industry Expo 2018 in Guizhou, He Baohong of the China Academy of Information and Communications Technology (CAICT) said only 8% of the blockchain projects ever launched are …

NY OAG Tries Its Hand at Crypto Regulation: Expert Take

In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

Is the New EU Data Protection Regulation a Threat or an Incentive?

The General Data Protection Regulation (GDPR), a sweeping and stringent European Union (EU) wide legal framework for personal data privacy, became effective on May 25. Ready or not, this framework is going to drastically transform the business of any digital venture. The International Association of Privacy Professionals (IAPP) forecast that at least 75,000 privacy jobs will be …

A Guide To US Regulating Bodies

On May 22, 2018  the US Commodity Futures Trading Commission (CFTC) issued an advisory statement for listing virtual currency derivative products. The statement is aimed at providing clarity for exchanges and clearing houses. Previously this week, major US cryptocurrency exchange and wallet Coinbase spoke to regulators about obtaining a federal banking charter. Those events came …

South African Police Investigate Alleged Crypto Ponzi-Scheme Involving 28,000 Investors

South African Police are pursuing an alleged major cryptocurrency investment fraud, according to a police statement released yesterday, May 25. According to the statement, over 28,000 investors are said to have suffered losses exceeding 1 bln rand ($80.4 mln). The Hawks, an investigative unit of South Africa’s Directorate for Priority Crime Investigation (DPCI), have outlined …

UK Financial Regulator Opens 24 Investigations Into Crypto Businesses for Compliance

UK authorities have opened 24 investigations into cryptocurrency businesses over financial regulatory compliance, local media outlet CityWire reported May 25. Responding to a freedom of information request, regulator the UK’s Financial Conduct Authority (FCA) also confirmed it had opened seven whistleblower reports since the start of the year. While the FCA did not mention which …

Open to the Idea of a Central Bank Digital Currency

The Governor of the Bank of England Mark Carney said at the Riksbank Anniversary conference that he was open-minded about the prospect of a central bank digital currency (CBDC), Bloomberg reports May 25. Riksbank is the central bank of Sweden. While he reportedly is not opposed to the idea of implementing a CBDC, Carney stressed …