Senior Official in Russian Parliament Says That Cryptos Can Ruin Governments

A senior official in Russia’s parliament, the State Duma, has argued that cryptocurrencies have the potential to ruin governments, Russian financial media agency Rambler reported on May 20. Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy, innovative development and entrepreneurship, claimed that cryptocurrencies were created in order to hide large offshore assets from the government. If cryptos such as bitcoin (BTC) had emerged by 1994, Russia would have been “fully destroyed” so far because it would have…

Parliament Blocks Brexit No-Deal But Bitcoin (BTC) Still in Play

On April 3, UK lawmakers were able to pass a preventative measure by one vote that would stop the possibility of No-Deal Brexit. Compared to alternative outcomes over how U.K. transition away from the European Union will occur, No-Deal has been hailed as one of the more catastrophic. The move would have entailed an immediate cease in relations between the U.K. and E.U, with no clear path forward on how the two would interact going forward–in effect producing massive economic, trade and travel uncertainty. However, cryptocurrency analysts have pointed out…

Russia Parliament Approves Swift-Alternative but Moves Crypto Bill to April

Two very contrasting events took place in Russia lower house parliament last week. In the first, the State Duma approved the international use of a Swift-like financial network to eliminate the risks of western sanctions. In the other, it postponed the second reading of the crypto bill draft law to April. Ducking Swift Ban Anatoly Aksakov, the head of the Russian Banking Association and a finance committee with the Duma, said that the parliament had given the green light to table the bill for two more readings. After the bill passes the…

Thai Parliament Approves Amendments Allowing Issuance of Tokenized Securities

Thailand’s National Legislative Assembly has officially allowed the issuance of tokenized securities on blockchain, major newspaper The Bangkok Post reports on Friday, Feb. 22. The government will amend the Securities and Exchange Act, according to the article. As soon as the changes come into effect later in 2019, tokenized securities such as stocks and bonds can be officially issued on blockchain. The Thai Securities and Exchange Commission (Thai SEC) will issue additional rules so that crypto platforms can seek a securities depository license. According to Thai SEC deputy secretary Tipsuda…

Italian Parliament Approves Bill Defining Distributed Ledger Tech, Blockchain Terms

The Italian House of Representatives has approved a bill defining distributed ledger technologies (DLT) such as blockchain, Cointelegraph Italy reported on Feb. 7. With 275 votes in favor, 206 against and 27 abstentions, the bill dubbed “Semplificazioni” has moved forward. The Agenzia per l’Italia Digitale will now define the technical criteria that smart contracts will have to comply with in order to have legal validity. Maria Laura Mantovani, a member of the Italian Parliament in the Movimento 5 Stelle party, told Cointelegraph Italy that a favorable use case for blockchain…

Top Russian Official Urges Parliament to Discuss Draft Crypto Bill Without Further Delays

The chairman of the upper house of Russian parliament has urged MPs to expedite their work on digital economy bills that include a draft on crypto regulation, local news agency TASS reports on Tuesday, Jan. 29. Valentina Matvienko, who has headed the Federation Council since 2011, spoke to officials from several institutions, including the Upper House Committee for Economic Policy and Russia’s Ministry of Digital Development, Communications and Mass Media. She asked him to investigate the reasons behind the significant delay with the digital economy bills, TASS writes. According to…

Russian Parliament to Focus on Digital Economy Bills in Next Session, Says Chairman

Vyacheslav Volodin, the chairman of the lower chamber of the Russian parliament, has said that bills on the digital economy will be a priority during the upcoming session. The parliament’s official website revealed this in a press release published Wednesday, Jan. 9. Speaking at the opening of the parliament’s spring session, Volodin mentioned the digital economy bills that are currently being considered, including the ones on digital financial assets, digital rights and crowdfunding. According to the chairman, the members of the parliament will focus on these bills during the upcoming…

Maltese Parliament Rejects Claims of Inactivity on Cryptocurrency by Opposition Leader

The embattled leader of Malta’s opposition Adrian Delia has faced a fresh backlash over his criticism of the government’s pro-cryptocurrency stance. Delia’s comments were reported by national daily newspaper The Malta Independent on Jan. 6. Malta, whose president Joseph Muscat regularly praises both cryptocurrency and blockchain technology, has sought to become what it describes as a “Blockchain Island.” Despite signing a wealth of agreements and conspicuously welcoming crypto businesses such as crypto exchange Binance to its shores last year, Delia is not convinced about the current trajectory. For Delia, a…

French Parliament Refuses to Ease Taxation for Cryptocurrency Owners

The lower house of the French parliament has rejected the amendments to the 2019 finance bill which would ease crypto-related taxation. French monthly business magazine Capital reported this Tuesday, Dec. 18. The amendments that have been declined by the National Assembly referred to a draft of the government finance bill for 2019. As explained by local crypto news outlet Bitcoin.fr, the Parliament rejected four proposals in total. One of them was to introduce a distinction between regular crypto transactions and occasional ones, offering a more relaxed taxation system for the…

European Parliament Calls for Increased Blockchain Adoption in Trade

The European Parliament has called for measures to increase the adoption of blockchain technology in trade and administration with a provisional resolution published on Dec. 13. The resolution, dubbed “Blockchain: a forward-looking trade policy,” generally considers blockchain “as a private, permissioned distributed ledger technology (DLT)” but also admits that “various case studies and industries will derive different utility from a mixture of private/public, permissioned/permissionless blockchains.” The resolution notes that Free Trade Agreements (FTAs) in the EU are underutilized — only 67 percent of EU exporters and 90 percent of EU…