Five weeks ago, the U.S. Commodity Futures Trading Commission (CFTC) announced three exchanges had self-certified Bitcoin derivatives products. Following the subsequent backlash from the Futures Industry Association (FIA), the CFTC has announced two public committee meetings to review the self-certification process, procedures and operational controls for listing and trading digital currency futures.
Yesterday, January 4, 2018, the three prominent figures of the U.S. Securities and Exchange Commission (SEC) endorsed the concerns raised in the North American Securities Administrators Association (NASAA)’s cautionary directive on cryptocurrencies, ICOs, and other “Cryptocurrency-Related Investment Products.
When the history of Bitcoin and blockchains is written, 2017 will be the year tagged as the “turning point” when Bitcoin and “red hot” blockchain technology went mainstream. The steadily rising bitcoin price and market cap is a key, though not the only, indicator that a tipping point has been reached.
On December 5, the Reserve Bank of India (RBI), the country’s central bank, cautioned investors of bitcoin, clarifying that the government is yet to regulate bitcoin and cryptocurrency exchanges within the local market.
According to a report by Chosun, a leading mainstream news publication in South Korea, the South Korean government is planning to allow initial coin offerings (ICOs) in the near future, with strict regulations and policies in place.
Physical bitcoins that can be exchanged like cash have been discussed for years. In 2010, Gavin Andresen himself started a Bitcoin Forum discussion on possible ways to “print out bitcoins to function as user-created paper money.
Bitcoin futures contracts to be offered by CME Group Inc. and Cboe Futures Exchange to mainstream investors.
CME Group, the world’s largest futures exchange, has announced that it has self-certified the initial listing of its Bitcoin futures contract.
Tokyo-based bitFlyer has become the fourth digital currency exchange to receive approval from the New York State Department of Financial Services (NYDFS) for a “BitLicense” to operate as a virtual currency exchange in New York.
South Korean authorities are reportedly close to putting the final touches on regulations for bitcoin and cryptocurrency exchanges.
The Financial Services Commission (FSC), South Korea’s financial regulator and authority, is outlining regulations that will mandate cryptocurrency exchanges to play by its rules.
The regulator publicly revealed its intention to introduce regulations for bitcoin exchanges last year with a focus on regulatory and licensing parameters.
Koji Higashi, the co-founder of IndieSquare and Japanese cryptocurrency researcher, revealed Japan, the largest bitcoin market in the world in terms of daily trading volume, has friendly and loose regulations for bitcoin businesses and investors.
But, while the Japanese government has legalized bitcoin as a currency and a legitimate payment method, other minor alternative cryptocurrencies (altcoins) are receiving the same treatment as bitcoin.
Globitex, a new bitcoin exchange co-founded by former Bitcoin Foundation Executive Director Jon Matonis, is announcing that its parent Globitex Holding (Latvia) group company NexPay UAB has been granted an Electronic Money Institution (EMI) license by the Bank of Lithuania, a regulatory authority in the European Union, to carry out payment services and e-money issuance in the EU.
Iran’s High Council of Cyberspace (HCC) has opened up about its embracive approach to cryptocurrencies like bitcoin in the country.
Iran’s HCC, a prominent authority that could decide the legality of cryptocurrencies in the country, has welcomed the prospect of bitcoin in Iranian society, under well-defined regulations.
Speaking to Iranian news agency ILNA, HCC secretary Abolhassan Firouzabadi said in quotes reported by the Financial Tribune:
We [at the HCC] welcome Bitcoin, but we must have regulations for Bitcoin and any other digital currency…Our view regarding Bitcoin is positive, but it does not mean that we will not require regulations in this regard because following the rules is a must.