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Indonesia Defines Crypto as Commercial Commodities!

Endonezya Kriptoyu Ticari Emtia Olarak Tanımlıyor!

In the KrASIA newsletter, released on January 15th, Asia, Indonesia issued a new law that recognizes Bitcoin (BTC) as a commercial commodity.

The Commodity Futures Trade Arrangement Agency, also known as Indonesia's Bappebti, initially decided to make its crypto currency, a commodity future, which could be legally traded in the stock market in June. Agency later He said the Indonesian government would soon publish relevant legislation governing foreign exchange offices, taxes and other related issues.

Di Today, it is reported that Bappebti has approved Regulation 5/2019, which recognizes Bitcoin and other digital currencies as a commodity. The legislation therefore provides legal certainty to the crypto-currency exchanges currently operating in the country. Bu

The new policy is reportedly introducing a set of requirements for any crypto money circulating in Indonesia.

Especially, cryptocurrency The units must comply with the challenge of financing the requirements of risk assessment, money laundering (AML) and terrorism (CFT). The policy also requires that crypto currency processors keep transaction history for at least five years and have a server within the country.

A New Commercial Commodity

”With the introduction of new laws, Bappepti President Indrasari Wisnu Wardhana said the agency" wants to provide protection for people who want to invest in crypto assets to avoid being deceived by counterfeit sellers. "

At the same time, the Central Bank of Indonesia Head of Payment System Policy Department Onny Widjanarko,

Dı The payment system still bans Bitcoin or crypto as a means of payment sistem.

Bitcoin brokers in Indonesia were not happy with the regulators following the new capital requirements introduced last October. The new rules require brokers to have at least 70 million dollars to initiate futures contracts.

Source: Cointelegraph

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Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

 

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Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

 

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

 

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Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

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Source: Cointelegraph

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