Seoul To Develop Own “S-Coin” Cryptocurrency

South Korea’s mayor Park Won-Soon announced plans for their own cryptocurrency called S-Coin. The plan is for the coin to support city-funded social benefits programs as well as drive broader funding opportunities for the advancement of Blockchain related technology and start-up companies. “As Seoul is the world’s leading city in the field of information and … Read more

Bermuda Blockchain Working Group Members Announced

Bermuda Blockchain Working Group

Bermuda Blockchain Task Force team members were announced through a press conference on November 22, 2017 led by the Premier, the Hon. David Burt, JP, MP. The task force will look to advance the regulatory environment and develop Bermuda as a destination for Utility Tokens, Tokenised Securities, Cryptocurrencies, and Coin Offerings. The task force has … Read more

A Brave New World for Cryptocurrencies in Fintech

This is a summary of the recent speech by Christine Lagarde, IMF Managing Director at the Bank of England conference, London How will Fintech change central banking over the next generation?  Three innovations will have an impact of Fintech —virtual currencies, new models of financial intermediation, and artificial intelligence. You can read the full article online or the … Read more

Cryptocurrency Tax Fairness Act offers Tax Parity in the USA

Rep. Jared Polis, D-Colo., and Rep. David Schweikert, R-Ariz., co-chairs of the Congressional Blockchain Caucus, introduced the Cryptocurrency Tax Fairness Act of 2017 today. In 2014, the IRS classified digital currency as property.  The outdated guidance classifies even the smallest of cryptocurrency transactions the same as buying or selling stock, which dis-incentivizes consumers from using … Read more

Uniform Regulation of Virtual Currency Businesses Act Approved

The Uniform Law Commission (ULC) approved six new acts, including a new act regulating virtual currency businesses during their 126th Annual Meeting in San Diego, California. The Uniform Regulation of Virtual Currency Businesses Act creates a statutory framework for regulating virtual currency business activity, which includes businesses engaged in the exchange of virtual currencies for cash, bank deposits, … Read more