Indian supreme court to rule on cryptocurrency case on Sept. 11
Nupur Anand – Quartz
The wait continues for Indian cryptocurrency exchanges.
On July 20, after a short hearing, India’s supreme court set Sept. 11 as the date for the final hearing. The court will also pronounce the verdict at the end of those hearings—in the cases filed by the bourses against the Reserve Bank of India (RBI).
Operator of shuttered bitcoin platform pleads guilty to U.S charges
Brendan Pierson – Reuters
The operator of a shuttered bitcoin-denominated exchange pleaded guilty on Monday to federal charges that he defrauded investors and lied to U.S. securities regulators investigating the theft by hackers of virtual currency now worth about $46 million.
Zombie Crypto Stocks Resurface as Bitcoin Stages July Recovery
Lily Katz – Bloomberg
Crypto stocks, the darlings of late last year that quickly lost their luster, may be rising from the dead. Scores of small firms rebranded with blockchain at the end of 2017 to boost their share prices, only to see their market values languish when the Bitcoin bubble burst. Now, as the top digital token stages a comeback, some of these stocks are once again mimicking moves of the biggest cryptocurrency.
Bank of Canada Study Finds 58% of Canadians Own BTC for Investment Purposes
Helen Partz – Cointelegraph
Canadian citizens used Bitcoin (BTC) mainly for investment purposes in 2017, according to a study by the Bank of Canada (BoC) published July 23.
The study is an update to the results of the Bitcoin Omnibus Survey (BTCOS) conducted by Canada’s central bank within a short period between December 12 to 15, 2017, a few days before Bitcoin reached its all-time high of 20,000 on December 17.
South Korean Telecoms Giant KT Has Built Its Own Blockchain
Wolfie Zhao – Coindesk
KT Corporation, one of the two largest telecoms companies in South Korea, has launched a proprietary blockchain network, aiming to apply the technology across areas including ID verification, data roaming and energy trading.
According to a report from CoinDesk Korea, the firm revealed its KT Network Blockchain on Tuesday, boasting a throughput of 2,500 transactions per second (TPS) thanks to an integration with its existing high-speed commercial network.
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Robert Kim – Bloomberg Law
Global regulators signaled that they may force banks to meet new capital requirements for their holdings of Bitcoin and other crypto-assets. Based on the results of a review and analysis of banks’ direct and indirect exposures, the Financial Stability Board will consider whether to formally clarify the prudential treatment of crypto-assets.
Crypto & government: from anarchy to amity in the USA
Jemima Kelly – FT
Crypto bros are known to self-identify as libertarians, believing in the primacy of individual autonomy and the minimal interference of government or any other centralised authority in our lives. Quartz drew a nice Venn diagram of the overlap between the two groups in an article back in May: