Thursday, January 28, 2021
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Cayman Islands introduce regulations for virtual asset service providers

The Ministry of Financial Services of the Cayman Islands Government announced that it has commenced a regulatory framework for virtual asset service providers, or VASPs.In an Oct. 31 press release, the ministry claimed that the move had strengthened the country’s “ability to regulate and attract persons and entities that deal

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Marshall Islands Seeks to Establish a “Self-Sovereign Identity” With New Blockchain-Based Currency

[sociallocker id="55298"] The Marshall Islands’ project says its creation of a digital sovereign currency, named SOV, aims to be a “game-changer”. It could also pioneer how governments respond to crises such as the COVID-19 pandemic.In an exclusive interview with Cryptox, Joel Telpner, chairman of Sullivan’s Fintech and Blockchain Practice and

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Noted Tax Haven Cayman Islands Sees New Bills to Bring Local Crypto to FATF’s Heel

On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges. How the new legislation would change the Cayman Islands’ crypto industryThe Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges,

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The Economic Plan of the Marshall Islands: Cryptocurrency SOV as a Legal Tender

In 2018, the Marshall Islands announced that it is working on developing a cryptocurrency that would effectively replace its current legal tender and become the official currency in the Oceanic republic. The new digital currency is called Sovereign Coin (SOV).Since the gradual rise of cryptocurrencies all the way back in

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Marshall Islands Official Explains National Crypto With Fixed Supply

An official from the Marshall Islands has published an essay explaining the country’s national cryptocurrency project ahead of the Invest: Asia 2019 conference.The issuance of the Marshallese sovereign (SOV) was discussed in an essay by The Honorable David Paul — Minister In-Assistance to the President and Environment of the

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Marshall Islands Form Dedicated Fund to Support Implementation of Its National Crypto

The Republic of the Marshall Islands (RMI) has formed a non-profit organization to support the government in the implementation of the country’s national digital currency. The development was announced in a press release on June 4.The RMI has established the SOV Development Fund to support the government’s plan in

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