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Bitcoin-Friendly Singapore Considers Approving Crypto Derivatives Trading

Singapore has released the consultation paper on the proposed Bitcoin derivatives. Retail investors might not be allowed to trade in the crypto products. The Monetary Authority of Singapore says the move is driven by demand. Singapore’s central bank could soon authorize the trading of derivatives referencing cryptocurrency assets such as Bitcoin and Ethereum.

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US Congress Considers A Draft Bill Claiming Stablecoins Are Securities

United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities.Libra in the United StatesThe U.S. Representative for Texas's 29th congressional district, Sylvia Garcia, introduced a draft bill to the House Financial Services Committee on Oct. 18.

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Facebook Considers Dollar, Euro, Pound, Yen as Libra Backings; Yuan Excluded

Facebook is in new rounds of talks focused on discussing potential backings for its digital currency Libra.It was recently reported that Facebook has informed U.S. senators that it might not consider the Chinese Yuan as a potential contender for a backing of the cryptocurrency Libra. Facebook has submitted details of

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South Korea’s Kakao Considers Listing Klay Cryptocurrency on Chinese Exchange

The renowned internet company Kakao, known as one of the largest conglomerates in South Korea, is looking to list its cryptocurrency Klay on one of China’s exchanges and add it to its impressive list of products in the financial sector.The conglomerate, which already has an admirable reputation in the financial

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Buterin Considers zk-STARKS, Plasma, Casper, Bitcoin Cash for Enhancing Ethereum’s Efficiency

The developers of Ethereum (ETH), the world’s largest platform for building and deploying decentralized applications (dApps), have been experimenting with different approaches for effectively scaling the smart contract platform.Ethereum Co-Founder Vitalik Buterin has considered using other blockchain platforms as data layers for the Ethereum network. These platforms include Bitcoin Cash

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Siemens Considers Using Blockchain Tech for Carsharing

Self-proclaimed electrification, automation and digitalization global giant Siemens has shown an interest in adopting blockchain-based solutions. In particular, Siemens is exploring the use of blockchain in the transportation industry, as per a report by Forbes on July 15.According to Siemens Corporate Technology’s head of cybersecurity and blockchain, Andreas Kind,

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Russian Ministry of Finance Considers Allowing Cryptocurrency Trading

A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading, Russian news service Interfax reported on June 21.Per the report, the Deputy Minister of Finance Alexei Moiseyev told journalists on Friday that, while MinFin had reached no final decision, cryptocurrency trading may

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Russian Parliament Considers Imposing Fines on Crypto Mining by End of June

Russia’s parliament, the State Duma, is considering imposing administrative responsibility for the mining of cryptocurrencies, local news outlet TASS reported on June 7.In an interview with TASS, Anatoly Aksakov, the chairman of the State Duma Committee on the Financial Market, said that the government may introduce administrative responsibility for

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SBI’s Crypto Exchange SBIVC Achieves Profits in First Fiscal Year, Considers STO

New Japanese crypto exchange SBI Virtual Currencies (SBIVC) achieved profitability in the first year of its launch, Cointelegraph Japan reports on April 26.SBIVC exchange, launched by Tokyo-based financial services giant SBI Holdings, reportedly recorded a profit before tax of almost 360 million Japanese yen ($3.2 million) for the full

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