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South Korea: Cryptocurrencies not considered financial asset

Cryptocurrencies, including the most popular and longest running Bitcoin, are neither legal tender nor a financial product as they are “not cash nor an equity instrument of another entity,” according to the latest decision by an international interpretative body of accounting practices.The decision on the much-disputed digital currencies, which will

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Int’l Accounting Standards Body Defines Bitcoin as ‘Intangible Asset’

The International Financial Reporting Interpretations Committee (IFRIC) has ruled that cryptocurrencies, including Bitcoin (BTC), are neither financial assets nor legal tender.The Korea Times reported the development on Sept. 23, citing the Korea Accounting Institute’s briefing in regard to an IFRIC meeting held in London this June.Cryptocurrencies neither financial assets

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Bitcoin Safe Haven Asset Status Assured Amid Changing Investment Demographic

Cryptocurrency trader Murad Mahmudov says bitcoin will be the biggest winner amid the changing tide developing in the investment scene. Mahmudov’s tweet is the latest in a growing trend of endorsements for the top-ranked cryptocurrency as a haven asset. Meanwhile, the monetary policies of governments and central banks across the

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Asset Management Giant Wants Government Money Market Fund on Stellar

American asset management firm Franklin Templeton Investments has filed a preliminary prospectus with the United States Securities and Exchange Commission (SEC) for a government money market fund with a focus on blockchain-based shares.According to a Sept. 3 SEC filing, Franklin Templeton’s fund will make investments in a range of

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Elwood Asset Management Wants to Draw More Institutional Investors to Crypto

Elwood Asset Management, the company of the UK billionaire Alan Howard, is planning to introduce a variety of products to get international investors interested in crypto assets.Elwood is a firm that specializes in digital assets and finance to find solutions and opportunities for global investors. On a phone interview with

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Asset Manager Boldly Claims Every Institutional Investor Will Buy Bitcoin

The range-bound bitcoin price could jump higher if Anthony Pompliano's prediction turns out to be true in the long run. | Source: ShutterstockBy CCN Markets: The bitcoin price has been going sideways for nearly two months now, but crypto bulls believe that rising institutional interest could lead to a

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SEC Asset Freeze Caused ‘Significant Harm’ to Holders, Says Veritaseum

The chief defendant in an alleged $15 million initial coin offering (ICO) fraud case has submitted a formal reply to the United States Securities and Exchange Commission (SEC). On Aug. 20, Reginald Middleton shared a copy of a memorandum of law against the agency’s application for a preliminary injunction to

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