Bitcoin exchanges to introduce KYC and AML guidelines, Money Trade Coin leads the path

The announcement of the Indian Financial Budget for the  FY18 and the Finance Ministers remarks on cryptocurrency has stirred up a new anxiety in the Indian Cryptocurrency markets.

Since Mr. Arun Jaitely did not clear the government's stand on cryptocurrency, whether it is accepted as a legal tender or completely discarded as an illegal tender. However, the speech by the FinMin has made the Bitcoin Exchanges cautious as they are now planning to introduce a Central Repository of Users to collect their database from the which will aid them to maintain and access the actual record of transactions.

As per the idea, the cryptocurrency holders will have to register their Aadhar ID or Permanent Account Number with the exchange service, which will provide them the details of the total number of cryptocurrencies held by the users, it's total value and the pattern of buying and selling a pattern of the user's.

This proposal by the Bitcoin exchanges will soon be produced by the Government.

However, it is notable that Money Trade Coin, one of the fastest emerging cryptocurrencies in the market is already a step forward from the Leading cryptocurrency -Bitcoin exchanges, as Money Trade Coin has initiated the Know Your Customer (KYC) and Anti- Money Laundering (AML) provision since its inception. As such, cryptocurrency holders associated with Money Trade Coin,  receive high-end security and safety of their transactions and the group is putting all its efforts to prevent the illegitimate and unlawful utilization of cryptocurrencies.

Australian High School set to Organise 'Information Night on Cryptocurrency'

Cryptocurrencies have stepped in every nook and corner of the world. From daily transactions to E-commerce portals, this Digital Currency has not left anyone/anything away from its light. Since its demand is surging remarkably high with each passing day and it is steadily penetrating into the mainstream global financial economy, it is imperative to have an understanding about the new phase in the financial market system.

With a view to informing and educating people in its region about this new era of digitization, an Australian High School is preparing to host an "Educational Presentation" on cryptocurrencies. St. Laurence's College intends to conduct a non-compulsory program for the schools' staff and students of an 11th and 12th standard.

The aim is to spread awareness and educate coming generation about the basics of cryptocurrency, it features, the technology used,  the current market structure revolving and ways to secure investments.

The idea to hold the presentation came into being after the school authorities were notified that some of its senior students were involved in Cryptocurrency transactions. 

The initiative to Educate and Inform them about this new space of financial system proves to be a boon to avoid future consequences.

Abu Dhabi eyes on Bitcoin Regulations

The widespread usage of cryptocurrencies has raised concerns about its security and safety. Since quite some time, discussions regarding control and regulation of cryptocurrencies have been doing rounds globally.

According to latest reports, the Financial Regulators in Abu Dhabi is planning to launch a Cryptocurrency framework to regulate the use of virtual currencies. The Financial Services Regulatory Authority (FSRA)  of Abu Dhabi is currently assessing the development of a regulatory framework with the pertinent official authorities.

The idea behind introducing the regulation is to keep a close check on the activities and utilities of the virtual currency by the Cryptocurrency holders and intermediaries.

Earlier, in October, the Abu Dhabi Government had introduced certain guidelines for cryptocurrencies and ICOS in UAE. However, at that time, the Financial Regulator of Abu Dhabi did not support the idea considering ICOs as a security and Cryptocurrency as a Commodity.

The FSRA in its plan to develop a proper financial framework to supervise cryptocurrency also, it is still gaining immense popularity and interest worldwide as a medium of exchange.

Crypto Insurance - Securing cryptocurrency exchanges

The past year has been a roller coaster ride for the global financial markets. Where cryptocurrencies saw immense popularity, it also faced the hazards of Hacking. 2017 has been considered as one of the worst years for Cyber Crime, especially Hacking. A number of phishing scams, frauds and miner-wares were reported in 2017, which led to enormous losses, both to the cryptocurrency holders as well as the global financial market system.
The dangers of Hacking have been prevailing even in 2018, and to much surprise, it is only growing.

Though the concept of Cyber Insurance was introduced in late 2017, it has now largely been used to protect and secure the volatile cryptocurrency exchanges.
The crypto-insurance idea is similar to that of the cyber-insurance concept, however, the cutting-edge Blockchain Technology plays an important role here.
Though every initiative has its own pros and cons, this little start will surely usher in another revolution in the crypto-world.

Arizona empowers Bitcoin Tax payments

Since quite some time, Bitcoin and Blockchain technology has been gaining enormous attention all over the world. There have been debates about its legalization, regulations, and controls. A number of governments have been altering their citizens on the usage of the leading cryptocurrency- Bitcoin. Some have even remarked it as a bubble which will soon burst. 

However, even though there have been opposing statements regarding the utilization of cryptocurrencies, the supporting system behind it, i.e. the Blockchain technology has always been praised and appreciated by leading personalities.

The recent news is that Arizona, a southern west U.S state, has started a new revolution by accepting Tax payments in Bitcoin. Arizona has always been supportive of the Blockchain technology and is known as a Blockchain friendly state. Lawmakers in this US state have proposed permitting citizens (residents) to pay their taxes in Bitcoin. This will allow residents to make tax payments anytime and from anywhere. 

Founder of Money Trade Coin speaks on application of cryptocurrencies and development of Blockchain Technology in India

The Indian Finance Minister, Mr. Arun Jaitely,  on February 1 announced the big budget on cryptocurrency status in India. On this occasion, he also threw light upon the much-discussed topic of cryptocurrencies. There were a number of point of views by leading economists and analysts post the FM's speech. 

A leadingCryptocurrency news portal, NewsCCM, interviewed Dr. Amit Lankhanpal to understand his take on the recent cryptocurrency scenario in India.

During the interview, Dr. Amit Lankanpal shed light on various aspects of the current situations of the Digital Currency in a developing country like India. He spoke about the impact of cryptocurrency on the financial market system, the on-going debate about the legalization and regulations of cryptocurrencies in India, the relationship of the Blockchain technology with the Banking industry and so on. More importantly, he also commented on the FM's idea of incorporating the Blockchain technology into the mainstream financial system.

Dr. Amit Lankhanpal also shared insights about Money Trade Coin.

To read the complete interview visit on given link:

https://newsccm.com/2018/02/02/budget-2018-amit-lakhanpals-stance-crypto-industry-limitless-application-blockchain-technology/

Cryptocurrency fortune in 2018

The year has gone by, 2017, proved to be an immensely gratifying year for Cryptocurrencies. Cryptocurrencies gained much popularity and acceptance across the world in the past year. The values of leading cryptocurrencies such as Bitcoin, Ethereum, Ripple among others surged to almost 2000% in the latter half of 2017.

This delighting journey of Cryptocurrencies is continuing in 2018 and it seems that this year, it is set to be another revolution in the phase of cryptocurrencies. The 4 major changes that may take place in the crypto-space making its existence all the more powerful are:

1) Growth of Crypto-market 

Leading institutions such as CBOE, CSE, and Goldman Sachs have declared to begin offering Bitcoin futures, thereby, trying to bring the Crypto-market close to the global traditional financial market system. This will soon be followed by other institutions, thereby increasing the utility of cryptocurrency transactions.

Additionally, this year will the mark the launch of a number of crypto funds, which will also enhance the utilization and popularity of cryptocurrencies.

2) ICOs will undergo a professional touch

Initial Coin Offerings will witness a new makeover this year as numerous investors will step into the market. As the investors make way for new means of funding, their demand for further business validation and transparency will increase, which will allow the ICO process to come closer to the traditional venture crowdfunding. As such, new ICO platforms will also make their way in the competitive volatile market system.

3) ICO Regulations may lead to a short-term slowdown

Due to the increasing popularity and usage of cryptocurrencies all over the world, the need for control and regulation has become essential. So as to bring a certain amount of stability in the market and also to do away with illegitimate usage, regulators around the world will take a firm decision on Cryptocurrencies. A number of countries will come up with different regulations and controls to maintain a balance in the financial market system. This will lead a short-term clampdown in the ICO process.

In a short run, the regulations may lead to a fall in value and trading volumes. However, it will benefit in the long run as the legislation of cryptocurrencies will bring it closer to the mainstream financial system.

4) Introduction of new platforms and approaches. 

As people become more aware of cryptocurrencies and understand their importance, it will unequivocally lead to an increased demand. Naturally, an increase in demand has to be supported by an equal supply. As all the Cryptocurrencies have a particular limit, to satisfy the increasing demands, alternate Cryptocurrencies come into being in the market. 

2018 is expected to witness the launch of a number of new Cryptocurrencies and platforms with enhanced services.

The Cryptocurrency global market is expected to experience remarkable success in 2018 as the popularity is increasing with each passing day and it is slowly and steadily being recognized as a powerful means of exchange.