Bitcoin Gold, BTC and Crypto Regulations – Oct 25th Cryptocurrency News
Bitcoin Gold was officially separated from bitcoin yesterday. It posted on twitter yesterday when it reached the final block and right after the team announced on that it had suffered a DDOS attack on its cloud site. Today everything is back to normal. Bitfinex hitbtc yobitexchange bleutrade bitstarcom and coinnest are all supporting trading right now. Let’s take a look at the performance of Bitcoin, it has been on a path of decline over the past few days falling below ,500 today. It is currently remains under ,600. At the weekend we saw Bitcoin hit a record high surpassing ,100.
Let’s see what is happening in crypto Russia. Well, Vladimir Putin has set a timeline for ICO and mining regulation. Putin apparently told the Kremlin to create cryptocurrency regulations by July 2018. Miners of bitcoin, ethereum, and other virtual currencies will have to register and pay taxes. Australia may also introduce some sort of regulations soon.
Now let’s take a look at Singapore, which doesn’t see the need to introduce regulations. Ravi Menon, Managing Director of the Monetary Authority of Singapore said on Bloomberg that our attitude is to keep an open mind on it. Ithink that is one of the areas where there has been excessive hope as people see it merely as an investment vehicle that is going to rise in value, I think that is rather a misguided approach towards the use of cryptocurrencies.” He stressed the importance of the use and applications of cryptocurrencies to improve efficiency and speed of payments with blockchain using cryptocurrencies.” He does not believe cryptocurrencies need regulations as he says they do not post enough risk, but he does want to see anti money laundering controls.