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Abu Dhabi universal Market mulling virtual currency regulatory framework

collected by :Donald Luther

The regulatory arm of the Abu Dhabi universal Market, the emirate’s financial centre , told it Information Systems considering a governing framework to supervise virtual currency interchanges & Information Systems in consultations with industry entrants to chalk it out.
Given the anonymous & cross-border nature of virtual currency transactions, they are particularly vulnerable to money laundering & terrorist finance risks, as well as other financial crimes.”
The declaration follows preliminary guidance on premier coin & token offerings which the Financial Services Regulatory Authority made in October.
The SCA warned Businessmen versus any fundraising done out of cryptocurrencies, be it ICOs, premier token offerings, token pre-sale or token crowd-sale, it told in a statement on its website.
Virtual currencies are treated as a commodity in the guidance laid out with the FSRA.

Otaku Coin, fresh virtual currency created for anime fans

Its aim market are fans of anime, manga, games & other interests in the realm of Japanese subcultures.
Aptly called “Otaku Coin” the cryptocurrency came from on-line store Tokyo Otaku Mode (TOM) that specializes in selling several anime, manga & game-related products.
Contemporary Utilize refers to fans of anime, manga & games, however there are too train otakus, military otakus, between others.
Like other cryptocurrencies, anime fans could “mine” Otaku Coins with watching anime, sharing content & writing reviews.
Meanwhile, the method Otaku Coin going to work in the anime industry’s favor remembers to be seen.

Abu Dhabi
Abu Dhabi

 

U.S. regulators probably ask America Congress for virtual currency legislation

As it stated in The comments with SEC Chairman Jay Clayton before the Senate Banking Committee are the strongest indication yet which federal authorities are mulling fresh laws to scrutinize virtual currency trading & investing.
“We probably be back with our friends from Treasury & the federal to ask for extra legislation,” Clayton told the time asked whether America Congress needed to act on virtual currencies.
Federal legislation can help rationalize this patchwork & clarify which agency has the authority to police the underlying virtual currency cash market, the regulators said.
Bitcoin (virtual currency) coins are seen in an illustration footage taken at La Maison du Bitcoin in Paris, France, probably 27, 2015.
Committee members, however, did’nt appear to stake out a clear position on whether to pass virtual currency legislation.

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