In Legal Battle With US SEC, Telegram Sees New Support From Trade Association

The Blockchain Association, a major United States-based trade association in the crypto sphere, has filed a new brief in support of Telegram amid the firm’s continuing legal battle with the Securities and Exchange Commision (SEC). The amicus brief and the SEC’s lack of clarity The April 3 brief takes the SEC to task for backtracking on its own guidance for legally distributing digital assets.  Referring to the inconsistency that issuers of digital assets must cope with when dealing with the SEC, the brief says that “No settled precedent or agency…

Tokyo-Based Association Announces New Guidelines for Blockchain Gaming

One organization in Japan is finding new ways to explain regulations covering illegal activities in the blockchain gaming community. The Blockchain Contents Association (BCA) announced on March 24 that they had written new guidelines to deal with laws related to gambling and online scams. A Japanese self-regulatory organization established in February 2020, the BCA intends to promote customer protection for any blockchain-based content, including gaming and social media. Avoiding violating Japanese law on the blockchain Though many cities in Japan have explored establishing casinos, under local law gambling online and…

Libra Association Member Offers an Explanation for the Crypto Market Decline

A prime crypto broker blames margin calls on non-crypto assets for the current crypto market slide. Marc Bhargava, co-founder of Tagomi (which has recently joined the Libra Association), shared his explanation of the current market downturn with Cointelegraph. Since Tagomi is connected with ten of the biggest exchanges and some of the biggest crypto traders, it enjoys a rooftop view of the market. Here’s how the co-founder contextualizes the recent market downturn Bitcoin is a risk-on asset Bhargava believes that crypto is not a safe haven asset, despite others saying…

Switzerland’s Crypto Valley Association Head Says CBDC Is a Good Idea

In an exclusive interview with Cointelegraph, Crypto Valley Association President Daniel Haudenschild said that central bank digital currencies are “the next logical stage.” Haudenschild explained to Cointelegraph that he believes CBDCs are the next stage “in evolution for decentralized finance.” He also claimed that there are currently 34 CBDC projects. According to him, such digital currencies represent a new era of governments and traditional finance that recognize the potential of digital assets. Central banks innovate to avoid being left behind Fear of being left behind, Haudenschild admitted, is a major…

Prime Broker Tagomi Becomes 22nd Member of Facebook’s Libra Association

Crypto prime brokerage service Tagomi is joining the Libra Association, becoming the 22nd member and the second to join since the group was formally founded in October 2019. According to TechCrunch, Tagomi is set to formally announce its intention to join the association later this week. It joins ecommerce platform Shopify, which announced it would join the group last week, joining a host of other crypto platforms, tech startups, non-profits and venture funds. The joins come after a series of high-profile departures from the organization, most recently last month when…

Crypto Prime Broker Tagomi To Join Libra Association

Tagomi, a crypto prime broker headquartered in New York, will join the Libra Association, the governing body for the Facebook-led stablecoin. Tagomi was founded by Jennifer Campbell in 2018, a former associate at Union Square Ventures. Tagomi will become the Libra Association’s 22nd member. Members of the association are expected to contribute at least $10 million to the Libra Reserve, which holds the assets that back the cryptocurrency. Tagomi has raised $28 million to date, making a $10 million commitment a large amount for a two-year-old startup. It should be…

The Libra Association Gets a New Member in Shopify

The Libra Association has signed up Canadian e-commerce platform Shopify as its newest member as the troubled crypto project looks to get back on track. Libra has lost several founding members in recent months for a variety of reasons, the most prominent of which was the massive amount of scrutiny leveled at the project. The association was originally made up of 27 founding members; however, several early backers such as Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA) all jumped ship before the founding charter was signed, leaving just 21 members.…

South Korean Tax Policy Association Proposes Two-Step Tax on Cryptocurrencies

South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report. The Korean government is expected to announce its tax reform plan in late 2020.  The low-level trading tax was recommended because there is a lack of legal infrastructure to enact transfer taxation. During a seminar on Feb. 21, members of the Korean Tax Policy Association advised the South Korean government to enact this two-step plan, arguing that taking…

Canadian E-Commerce Giant Shopify Joins Libra Association

E-commerce giant Shopify has joined the Libra Association, a network of founding members supporting Facebook's stablecoin project Libra. Shopify, a major Canada-based digital commerce platform hosting more than one million merchants, will be collaborating on the establishment of a global payment network within the Libra Association, the firm officially announced on Feb. 21. The Libra Foundation has confirmed the news in a Facebook post, outlining that Shopify would be an “incredible partner in making widespread economic participation a reality.” Shopify believes that traditional financial system wasn’t built for Internet commerce…

Shopify Joins Libra Association – CoinDesk

Digital payments platform Shopify has joined the Libra Association. The company announced the move in a blog post Friday, becoming the latest member of the stablecoin developer. Shopify joins roughly a month after Vodafone pulled out of the organization to focus on its own digital payments system. Shopify said in a blog post it intends to "work collectively" to build a payment network that works "everywhere." "Our mission has always been to support the entrepreneurial journey of the more than one million merchants on our platform. That means advocating for…