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Legalization

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China- The Chinese government and the People’s Bank of China has over the course of the past months maintained stiff regulations on Bitcoin and cryptocurrency related products; especially ICO’s. However in a much predicted turn of events as characteristic of the Asian big wig; the country’s high court (The Court of International Arbitration) has ruled in favour of Bitcoin and cryptocurrencies. This verdict by the Chinese court, was necessitated by a case brought to its attention,…

The nation of Uzbekistan has by a new presidential decree legalized cryptocurrency trading with licences to be issued to crypto exchanges subsequent to meeting a set of requirements; notably exchanges who wish to operate in the country will have to establish local subsidiaries and abide by local laws. President Shavkat Mirziyoyev who signed the decree is said to be focused on ways to boost the nation’s market economy hence, the turn to the growing and…

The Xinhua News Agency, one of the most credible news outlets in China, connected to the state with its president one of the most pivotal members of the Chinese Communist Party’s Central Committee, has reported the hard stance taken by the state on cryptocurrencies. Essentially calling for a iron fisted crackdown on those using such technology for fraudulent purposes and scams, the rest of the announcement however suggested that the state should make regulations to…

Chief Internet advisor, Herman Klimenko, announced the creation of the Russian Association of Blockchain and Cryptocurrency (RABIK), to take over development and regulation of cryptocurrencies in Russia. Also focused on encouraging increased activity of regulators, the association aims to make the market a credible source of finance and trade. Compared to the Chinese stance on cryptocurrency and ICO’s which it is supposedly cracking down on, Russia has taken a accepting stance acknowledging the power and…

Russia has been known for its regulation on Bitcoin and various other cryptopcoins. Corporations and individuals alike were persecuted and punished with fines as high as $25,000 or forced labor. This persecutive attitude has taken a turn for the better as Russia aim to put off criminal convictions regarding the use and transmission of Bitcoin. Cryptocurrencies and Bitcoin are regulated for a variety of reasons including to regulate the economy and give further strength to…