Lithuanian authorities held a seminar examining the “threats and potential benefits” of Initial Coin Offerings (ICO) to the country’s economy, a press release reported Wednesday, October 3, amid an ongoing investigation into cryptocurrency trading habits. The Financial Crime Investigation Service (FCIS) organized the meeting, which included representatives from government ministries, the central bank, and the General Prosecutor. According to the press release, the gathering revealed that Lithuanian processes “huge” turnover from crypto to fiat. Antonio Mikulsk, head of the FCIS, said: “Virtual currency has huge cash flows, but (there are) worries about converting them into dollars and euros as quickly …
The Bank of Thailand (BoT) has recently allowed local banks to set up subsidiaries for dealing with cryptocurrencies, local Thai source Blognone reported August 3. According to a regulatory announcement published by the BoT on August 1, Thai banks can now issue digital tokens, provide crypto brokerage services, run crypto-related businesses, and invest in cryptocurrencies through subsidiaries. However, the recent announcement has reaffirmed that all banks and other financial institutions are still banned from direct dealing with cryptocurrencies. While banks are now allowed to establish crypto-dealing branches, those branches are prohibited from offering crypto-related services to its customers and the …
South Korean financial holding company KB Financial Group Inc. has released an Aug. 6 report on crypto investments in 2018, finding the majority of domestic respondents revealed no intention to invest in crypto. KB Financial Group Inc. is headquartered in Seoul, South Korea and focuses on a range of banking and related financial services. Their survey involved 600 households that had financial assets of more than KRW 500 million (around $447,000) from April to May, as well as 400 respondents with over KRW 1 billion in financial assets (around $894,000). According to their latest publication, 74.8 percent of domestic respondents …
The Philippines Securities and Exchange Commission (SEC) has published a set of draft rules for regulating Initial Coin Offerings (ICOs) for public review, according to an official statement August 2. In the SEC’s Memorandum Circular, the agency stipulates that any company registered in the Philippines looking to run an ICO, or any ICO selling tokens to Filipinos, must submit an “initial assessment request” to the Commission to determine whether or not their token is a security. The regulator specifies that ICO issuers should submit their initial assessment request not less than 90 days prior to the “start of the pre-sale …
This interview has been edited and condensed. Cointelegraph had the opportunity to speak to ConsenSys’ Ajit Tripathi at BlockShow Europe 2018 about his experience leaving Wall Street for the crypto world, what new ConsenSys projects he’s most excited about, and why crypto regulation changes from country to country. Molly Jane: Could you tell us a little bit more about what ConsenSys does and what your role is there? Ajit Tripathi: ConsenSys is a venture production studio based in Brooklyn, and now we have offices in London, in about 30 countries, including London, Paris, South Africa, Australia, and Singapore — we're …