Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
  • Contact


Bermuda Moves Towards Crypto Regulation Seeking To Attract Fintech Enterpreneurs



Bermuda is one of the newest countries that updated their virtual currency legislation. With the newly changed legislation, it seeks to attract fintech entrepreneurs and become a place where everyone interested in the industry can launch a business or work with some of the companies present out there.

The country’s Minister of National Security noted that Bermuda is moving forward on virtual currency legislation while presenting to a standing-room audience at the Bermuda Underwater Exploration Institute.

Even though Bermuda has no nearby example to follow, they proposed the Virtual Currency Business Act – which will serve as a “shining example” for what the country can accomplish. A 150-page paper on the Virtual Currency Business Act was also posted on the BMA website.

According to the VCBA, the “virtual currency business” is the name that is a provision of the following activities:

Isssuing, selling or redeeming virtual coins, tokens or any other form of virtual currency.

Obviously, this also includes an ICO business on behalf of customers and the act would also cover the payment service providers defined as “people whose business includes the provision of services for the transfer of funds.”

Bermuda’s new legislation will also cover virtual currency exchanges, wallets, and services vendors which are defined as any business providing services in the realm of virtual currencies. The legislation is designed to prevent fraud and market manipulation too.

In the end, the government will also attempt to establish an electronic ID scheme this year for its residents – which will be a program that strengthens the country’s fintech credentials and help it attract even more people in this field.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at

Continue Reading

Blockchain News

CTO Of IBM Advises US Congressman To ‘Get Government-Ready’ For Blockchain

The blockchain news category is recently booming on our crypto news site. Aside from the blockchain events and our full coverage on each and every one of them, the recent news is focused on a statement given by the CTO of IBM, who recently advised one US Congressman to move forward with the blockchain adoption.In a report that is titled "The Impact of Blockchain for Government: Insights on Identity, Payments, and Supply Chain" and made in collaboration with the US Congressional Blockchain Caucus, there is a series of roundtable discussions between the US Representatives Jared Polis (author of "The Cryptocurrency Tax Fairness Act" which proposes to abolish the crypto taxes below $600), Thomas Hardjono, who is the technical director at the Massachusetts Institute of Technology (MIT) as well as Jerry Cuomo, the Vice President for blockchain technology and CTO of IBM.During the three meetings that IBM held along with MIT and members of the Congress, discussing the need for government funding of blockchain innovation and regulatory sandboxes. In that, the state would also be able to test different solutions before they are brought to the market.The US Representative Polis, stated that the state has only begun to see the real "promise of blockchain technology", which according to him, exceeds cryptocurrencies and tokens. He also stressed the importance of creating a legal framework for innovation and blockchain implementation.As we reported earlier this week, the US Congressman and Blockchain Caucus member Tom Emmer recently announced that he would introduce three bills to support the development of the blockchain technology as well as cryptocurrencies - and with that establish a safe harbor for taxpayers with "forked" digital assets.
Continue Reading


US Congressman To Introduce Bills That Support Blockchain And Cryptocurrencies

There is a lot of steam regarding regulation of cryptocurrencies and blockchain in 2018, mostly because of the involvement of government bodies and agencies that are constantly reviewing the crypto space. In the latest cryptocurrency news in the US, the US Representative Tom Emmer (R-MN) is officially planning to introduce three bills to support blockchain and crypto.The news are in accordance to a press release that was published on September 21st, where the three upcoming bills are entitled the "Resolution Supporting Digital Currencies and Blockchain Technology", the “Blockchain Regulatory Certainty Act,” and the “Safe Harbor for Taxpayers with Forked Assets Act.”This legislation is also focused on the support and development of blockchain technology as well as the establishment of a safe harbor for the taxpayers with "forked" digital assets.The bills, on the other hand, would prompt the government to provide a "simple legal environment" and restrict any fines for people who report "forked" digital assets - up until the Internal Revenue Service (IRS) presents formal guidance on the appropriate means of reporting.As Emmer said, "taxpayers can only comply with the law when the law is clear."He also announced:
"The United States should prioritize accelerating the development of blockchain technology and create an environment that enables the American private sector to lead on innovation and further growth, which is why I am introducing these bills.”
Earlier this week, many US lawmakers called on the IRS to issue clarified and "comprehensive" crypto taxation guidance. They also argued that while the IRS is proactive in reminding taxpayers of the pentalties for non-compliance with its guidance, they are also failing to introduce a more robust taxation framework that will meet their obligations.
Continue Reading


A Coinsquare Subsidiary Just Launched Two Tech-Based ETFs On TSX Exchange

One subsidiary of the popular crypto exchange Coinsquare is in the crypto news lately - for launching two exchange-traded funds (ETFs) on the Toronto Stock Exchange (TSX), according to the reports from the local news agency The Globe And Mail.The subsidiary is named Coin Capital Investment Management and is now the 30th ETF operator in Canada. With the launch of the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) as well as the Coincapital STOXX B.R.A.I.N. Index Fund (THNK).The ETF trading initiated on Thursday, September 20th, with a management fee of 0.64% on the TSX, which is right now the 12th largest global stock exchange by its market capitalization.Meanwhile, LDGR is a research-focused ETF that aims to provide investors with global equity securities of firms that invest in the development of blockchain technologies. The ETF is also based on the recently launched iSTOXX Yewno Developed Markets Blockchain Index which is an index that reflects a large volume of data to discover companies that focus on researching the distributed ledger technology.The other ETF, named THNK, is focused on providing investments in global equity securities that are concentrated around four "megatrends" in technology - biotechnology, robotics, artificial intelligence as well as nanotechnology - all based on the iSTOXX Developed Markets B.R.A.I.N. Index.The Toronto-based Coinsquare exchange was founded in 2014 and is now ranked 69th according to its daily trading volume. Coinsquare, on the other hand, is moving forward and has big plans for expansion, aiming to provide a "fully compliant platform" that would allow trading cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dogecoin and Dash.
Continue Reading

Blockchain News

US Congressman Supports Cryptocurrencies By Introducing New Pro-Crypto Bills

Tom Emmer, a U.S congressman is planning to implement three new bills that will support cryptocurrencies and the blockchain technology in general, according to a press release in today’s news.These bills are named as the ‘’ Resolution Supporting Digital Currencies and Blockchain Technology’’, the ‘’Safe Harbor for Taxpayers with Forked Assets Act’’ and the ‘’ Blockchain Regulatory Certainty Act’’.The first bill expresses support for cryptocurrency and according to Emmer, the U.S government can’t really do anything to stop cryptocurrencies from developing further. The second one confirms entities such as crypto miners won’t need to be registered as money transmitters. And last, the third one aims to address all the confusion around making gains with cryptocurrencies and how to report them to the IRS. This bill will give taxpayers higher protection from facing fines from the IRS.All of these are focused on further development on the blockchain technology. The bills will contribute to the federal government providing an uncomplicated legal environment. According to Tom Emmer, taxpayers can comply with the law only when the law is clear. He also said:
“The United States should prioritize accelerating the development of blockchain technology and create an environment that enables the American private sector to lead on innovation and further growth, which is why I am introducing these bills.”
He is also now a co-chairman of the Congressional Blockchain Caucus which is a platform for industry and government collaboration so they can inspect all the implications of the currencies and the blockchain technology.
Continue Reading


For Updates & Exclusive Offers
enter your email below


Join us on Facebook

Recent Posts


september, 2018

Filter Events

No Events


Trending Worldwide