UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

By CCN.com: UAE and Saudi Arabia — two countries that have the world’s second-largest combined sovereign wealth funds — have launched their pilot cryptocurrency. According to UAE’s official news agency, Emirates News Agency, the Saudi-Emirati cryptocurrency is one of the seven initiatives that will be implemented in both countries. Saudi-Emirati Cryptocurrency Restricted to Banks Only Formed in

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Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has an ad that has been online since July 2018, in which he claims to have

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Top 3 Mistakes Investors Make when Managing Their Cryptocurrency Holdings

By CCN.com: Money is older than recorded history. As long as money has existed, so too have counterfeiters and crooks. Issuers of currency have spent millennia preventing counterfeiting: Just consider today’s paper bills, which are printed with special dyes on watermarked stock, sport serial numbers, “security threads,” and even hologram strips. Cryptocurrencies, by virtue of

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Chilean Citizens Will Begin Paying Cryptocurrency Taxes in 2019

Taxpayers in Chile are reportedly going to have to pay taxes on cryptocurrency earnings this year, as the country’s Internal Revenue Service (Servicio de Impuestos Internos, SII) has included a section for cryptoassets in a form that has to be filled on taxpayers’ Annual Income Tax Returns. According to local media, last year the country’s

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Have the regulatory floodgates really just been opened? Wyoming just introduced a bill allowing banks to officially store and handle cryptocurrency UNDER SEC REGULATIONS. Those Banks can act ALL ACROSS THE UNITED STATES.

Being a regular cryptopanic reader I am used to shady, clickbaity or wannabe price-tweaking posts.

When I read "Wyoming drops biggest crypto regulation news ever." as headline I was like: yeah, sure. M00N S00N.

But as it was tagged Cardano, which I like a lot, and Cardano moved to this very Wyoming recently, I figured: why not treat yourself to some decent trash read.

And seriously, having been in crypto for some years, I was thinking: is this it? Is this really it? Can't be.

Long story short: I think it is, actually. It's just hidden in the worst headline in a repost (and overlongest twitter-monologue in original).

My sum up would be:

bill legitimates banks as official crypto storage and handlers. One twist of the wording of the bill is that it also gives crypto the same currency "rights" as fiat currencies in Wyoming. Other twist is that, the way it is put, it allows for the facilities, as they are defined as banks, to act all through United States, not only in Wyoming. It even fixes the lien issue.

Please read for yourself and tell me if I get this wrong. English is not my first language, neither is law my field of expertise.

Twitter-tirade by Caitlin Long (no joke) explaining the whole thing in (very much) detail (30+ consequent Tweets):

https://twitter.com/CaitlinLong_/status/1086367321738731520

News article – more brief than the Twitter-thing – but less detailed on the wider implications:

https://www.forbes.com/sites/darrynpollock/2019/01/18/wyoming-introduces-bill-offering-cryptocurrencies-legal-clarity-to-attract-blockchain-business/?ss=crypto-blockchain&utm_source=TWITTER&utm_medium=social&utm_content=2087367833&utm_campaign=sprinklrForbesCrypto#67492e6246d5

Let me know what you think.

submitted by /u/Wally_the_Lao
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