The Governor of the Hungarian National Bank, György Matolcsy, has advocated a European Union-wide ban on all cryptocurrency trading and mining operations. Governor Matolcsy referenced China’s recent crypto prohibition in a blog post titled “Time has come to ban crypto trading and mining in the EU,” published by the Hungarian central bank, a.k.a. Magyar Nemzeti […]
crypto ban
TSB Bank to ban crypto purchases citing cyber-crime concerns
TSB Bank, which happens to be a retail and commercial bank in the UK is all set to is impose a ban on more than five million of its British banking customers sending money to two prominent cryptocurrency exchanges amid concerns associated with cyber-crime. According to reports, the institution is gearing up to bar its […]
India’s Central Bank Clarifies Circular on Cryptocurrency Ban to be Invalid
The cryptocurrency ecosystem in India has always been a contentious one. The lack of clarity has failed to address important aspects of the users in the region. In a brief respite, however, the country’s central bank and regulatory body Reserve Bank of India [RBI] clarified on Monday that its 2018 order directing financial institutions to […]
India Cryptocurrency Scene in Turmoil; Govt Plans on Banning Crypto Trading
Just when India saw investors rushing back into the cryptocurrency trading scene, the country saw yet another setback with respect to regulations. In the latest development, the Indian government is reportedly planning to introduce a new law banning Indian cryptocurrency trading. According to Bloomberg’s sources familiar with the matter, the bill in question is expected […]
Indian Crypto Industry Worried of Alleged New Crypto Ban by Authorities
Five months ago, the Indian crypto industry was filled with hope and excitement as the Supreme Court lifted a ban on cryptocurrencies. Nevertheless, the excitement and hope were once again overshadowed by uncertainty, after an anonymous government official allegedly reported that the government is drafting a new law to ban digital currencies. According to the […]
Russian Federation Drops Plot to Outlaw Bitcoin Transactions
The Digital Financial Assets Bill (DFA), which is scheduled to be read for the second time in the Russian Parliament today, has withdrawn mentions to the administrative and unlawful obligation for bitcoin transactions. The third and ultimate reading will institute the draft as a law. According to the head of parliament’s financial markets committee, Anatoly Aksakov, while […]
Venezuela Outlaws Crypto Mining Activities in the Country
Venezuela has recently banned the trade in crypto mining in the country. The ban is mainly aimed at citizens who reside in all government-owned houses and in all their surrounding vicinity. In a maiden announcement on Friday, Minister of Habitat and Housing, Iidemaro Villarroel, said that the continued use of crypto mining could have an […]
Indian Banks Hesitating to Embrace Crypto Industry Albeit RBI Consent
The Reserve Bank of India (RBI) reversal of the outright crypto-currency ban in March was a gift to the flourishing Indian crypto-industry. The country’s emergence of new exchange platforms has been the incentive to the industry ‘s steady and healthy growth. While India is one of the most affected nations by the coronavirus pandemic, this […]
Indian Crypto Firms Optimistic Despite Crypto Blanket Ban Rumors
Indian crypto firms remain optimistic for the bright future, despite rumors of an imminent ban on cryptocurrencies from India. Last week, the Indian Ministry of Finance submitted a proposal to permanently ban digital currencies from the country. The Indian cryptocurrency industry has begun to experience growth since the Reserve Bank of India ( RBI) has […]
Russia’s Proposed Crypto Ban Opposed by Ministry of Justice
Russia’s proposed ban on crypto, which seeks to restrict all crypto-related activities within the Russian Federation, has suffered yet another setback following a negative review by the government’s vital arm. Russia’s Ministry of Justice challenged the newly proposed bill seeking to ban cryptos on 16 June, exactly seven days after Russia’s Ministry of Economic Development […]