Archive | legislation

Bank Indonesia Team Up With Police to Clampdown on Bali Bitcoin Transactions

Indonesia’s Central Bank, Bank Indonesia (BI), have united with the national police service to tackle the illegal use of Bitcoin in Bali. According to them, the tourist hot spot is much more likely to attract people trying to use the cryptocurrency for transactions that are outside the law. The Jakarta Post and local language news […]

Egypt: Islam Forbids Bitcoin

Egypt’s Dar Al Iftaa have issued an Islamic Ruling (Fatwa) which expressly forbids using Bitcoin as a means of exchange on religious grounds. According to multiple government ministers, the cryptocurrency threatens the economy, funds terrorism, and because it lacks set rules, it is “considered as a contract annulment in Islam”. These factors have influenced the […]

Belarus Legalises Cryptocurrencies to Lure Foreign Investment

When most people think about high-tech innovation, the former Soviet bloc is probably one of the last places on Earth that springs to mind. However, Belarus is making efforts to change that. Thanks to a progressive piece of legislation that was signed into law last Thursday, President Alexander Lukashenko is hoping that the brightest minds […]

High Demand Prompts Japanese Bitcoin Exchange to Seek Partner in Russia

A major Japanese bitcoin exchange is looking to enter the Russian cryptocurrency market and is seeking a local partner. The exchange’s CEO says “demand is huge” and urges Russia to look at Japan as a model for cryptocurrency regulations. Also read: Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market Japanese Exchange Eying […]

Putin Orders Drafting of Digital Currency Laws, Affecting Miners

Following a few months of conflicting statements, recent reports from the Kremlin indicate that Russian President Vladimir Putin has made a decision on digital currencies. He has ordered his government to create laws meant to clearly govern the status of Bitcoin and other digital currencies, but also to thoroughly regulate initial coin offerings, mining, and other aspects […]