referring to By Max Yakubowski India: Supreme Court Decision on Central Bank Crypto Dealings Ban Moved to September7819 Total views 169 Total sharesNewsThe Supreme Court of India's hearing on the central bank's ban on crypto dealings, originally scheduled for July 20, has been moved to September, according to a July 19 Twitter post by a team of Indian lawyers involved in crypto regulatory analysis. The Reserve Bank of India's (RBI) crypto banking ban was implemented in early April of this year, and prohibits local banks from providing services to any person or business that deals with cryptocurrencies. In mid-May, the Supreme Court had upheld RBI's crypto dealings ban until the July hearing, in early July also ruling not to grant interim relief to those affected by the ban. Since then, Indian citizens have not been able to buy and sell crypto on exchanges, and crypto exchanges and companies cannot receive loans from banks in India. Also in July, an anonymous source in the government reported that Indian regulators might treat cryptocurrency as a commodity rather than instituting a blanket ban.
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The State Bank of Vietnam Suspends Import of Crypto Mining Hardware
By Helen Partz The State Bank of Vietnam Suspends Import of Crypto Mining Hardware11700 Total views 289 Total sharesNewsThe Vietnamese central bank, the State Bank of Vietnam (SBV) announced it will suspend the import of cryptocurrency mining hardware, according to local news agency Viet Nam News July 19. The move followed an official request from the Ministry of Industry and Trade (MoIT), which suggested a temporary ban of imports of crypto mining machines, the volume of which reportedly amounted to 15,600 units from 2017 to April 2018. According to Viet Nam News, the suspension is supposed to improve the management of currency flows in Vietnam, since the use of crypto mining equipment in the country makes it more complicated. Vietnam's Ministry of Finance (MoF) proposed a temporary temporary ban on crypto mining hardware imports in early June, citing the "very difficult" process of regulating newly mined digital currencies. By proposing so, the MoF aims to protect citizens from crypto scams, following an alleged $660 million scam in April.HSBC Global Head of Digital Says the Bank Is 'Cautiously Looking' at Crypto Investment
referring to By Ana Alexandre HSBC Global Head of Digital Says the Bank Is 'Cautiously Looking' at Crypto Investment13108 Total views 294 Total sharesNewsGlobal Head of Digital at HSBC, Josh Bottomley, said that the bank is "cautiously looking" at cryptocurrency use cases, Forbes reported July 19. In an interview with Forbes, Bottomley said that HSBC is "cautiously looking into this area [cryptocurrencies]," when asked about the bank's approach to the crypto. In August 2017, HSBC joined a project called Utility Settlement Coin (USC) that intends to facilitate the issuance of currencies by central banks globally using blockchain technology. The project's co-founder Hyder Jaffrey said then that the initiative will serve as a stepping stone to a future in which central banks are already using their own virtual currencies. Jaffrey's comments were supported by HSBC's Head of Fintech Partnerships and Strategy, Kaushalya Somasundaram, who claimed that the USC could help set a future course for central bank cryptocurrencies.collected by :Irax John