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Qatar's Financial Regulator Prohibits All Services Involving Virtual Assets
Bitcoin and its underlying blockchain technology have been around for a decade until finally seeing some genuine institutional interest. Governments around the globe are adopting the new technology, as the United States and China are cautiously pushing their regulatory frameworks further into completion. Other countries, such as Malta and the Virgin Islands on the other hand, are accepting a more crypto-friendly approach, helping their local economic growth.
The United States is taking a rather archaic and slow crypto adoption process, as U.S. regulators are still not certain how to classify different types of digital assets. However, few departments already deployed an in-house blockchain network for department-based grant awards.
The so-called GrandSolutions initiative makes a digitalized version of the grant records, as well as improves the mechanism for grant awards. The other major blockchain-based solution is in the healthcare industry.
Hospitals can exchange various data via a healthcare data exchange service in cooperation with the INFORMED incubator program. Blockchain also is being applied in the military as the U.S. military is piloting a project that enables exchange of secure 3d printing files for the production of various small-grade replacement parts.
Venezuela also joins the list of governments utilizing blockchain technology. In 2018 the NEM blockchain saw the creation of Venezuela's oil-backed cryptocurrency, dubbed "petro." The token allows Venezuela to add liquidity to their oil reserves and battle hyperinflation. "Petro" also mitigates the sanctions on the country, but as of press time, there is no clear information about the usage of "petro" from international investors.
Malta, with its blockchain-friendly regulatory frameworks, saw a massive boost in companies opening or shifting operations in the country. Despite being used as a crypto "haven" for illicit activities, Malta managed to attract large-scale crypto companies like Binance, which is revenue surpasses $2 billion. Companies like Binance give the otherwise small Malta economy a significant push.
The British Virgin Islands' government recently announced its plans to digitize its entire economy via a government-issued digital currency. The archipelago became a place for many crypto companies due to the less-demanding regulations. The British Virgin Islands's government plans to issue a U.S. dollar-pegged digital currency to eliminate the problems with cash transfer between the small islands.
China, on the other hand, is trying to become the first major country to issue a central bank digital currency. The People's Bank of China (PBoC) announced that the development is "progressing smoothly" during a work conference in Beijing. China's first plans to issue a central bank digital currency date back from 2014. PBoC's digital yuan would be first distributed to corporate banks, which would act as a mediator for businesses and persons, willing to open a digital wallet.
China seems to continue working towards wider blockchain adoption. However, plans for a "social credit system" rewarding good "behavior" via an aggressive surveillance approach is being set out. Furthermore, a state-issued digital currency means the Chinese government could oversee every transaction, as well as keep track on the financial history.
Surprisingly, Qatar's government banned all sorts of "virtual asset services" in the country. The ban means Qatar becomes a restricted area for crypto and blockchain businesses. The ban includes exchanging virtual assets for other virtual assets, or fiat, as well as crypto funds management and safekeeping.
Qatar's financial regulator noted, however, that digital securities do not fall under the ban, as they are under the legislation of Qatar's Central Bank, Qatar's Financial Markets Authority, or the Regulatory Authority.
Coinomi is a security-first, multi-chain wallet for both mobile & desktop that provides native support and true ownership for more than 125 blockchains (the biggest number in the industry for non-custodial wallets) and thousands of tokens. The new website 3DP4BTC is exploring options in the Bitcoin world, as they offer custom 3D printing for digital currency. News of the week: you can now order anything a 3D printer can create and pay for it with cryptocurrency.. This is how you join two disruptive technologies, 3D printing and Bitcoin, in something called Crypto Printing. Creator of 3D-printed gun is launching a new Bitcoin wallet in 2014 By Maria Santos Last updated on January 2, 2018 at 00:00 No Comments If you don’t know the name Cody Wilson, you certainly didn’t hear about the controversial 3D-printed gun created by this 25-year old man a while ago. This article is a step-by-step how-to guide for creating bitcoin paper wallets. It walks through choosing a paper wallet generator, securing the computer environment to use it on, configuring and ... Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with ... Simplex is an EU licensed fintech company that provides worldwide fraud-free payment processing. With a proven track record in high fraud markets, Simplex’s technology enables merchants, marketplaces and crypto platforms to process online payments with complete fraud protection and chargeback coverage. I can’t really believe that we are writing this, but, according to a report by Coindesk, the recent ‘block’ of a file containing code for the production of a 3D printed gun, by Defence Distributed in Texas has been compared to an assault on the freedom of speech, as code and thus, has been outlined as a threat to Bitcoin and cryptocurrency. ... Today we're going to detail how to create a secure bitcoin wallet with an inexpensive USB drive. There are a few different wallets you can download for this Not only does ISG sell 3D printers, PLA filaments, and 3D printed objects and parts, but they also offer 3D printing services for their online customers. As of right now, ISG services customers in Canada, the United States, and Europe, and depending on your location, delivery times can be up to 20 working days. Bitcoin’s fall over the course of 1-2 October had a ripple effect that was felt across the crypto-market. However, while the world’s largest cryptocurrency soon recovered on the charts, many alts weren’t as lucky. At press time, Bitcoin was being traded at $10,867 with a 24-hour trading volume of $63.9 billion. Source: CoinStats The likes […]
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