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Paxtradings Crypto Minute: April 15, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: April 15, 2018

Bermuda Financial Regulator Seeks Public Comment on Proposed Anti-Money Laundering Law

The Bermuda Monetary Authority (BMA) is seeking public feedback on a proposed anti-money laundering law that would regulate cryptocurrency activity within Bermuda. According to CoinDesk, the BMA claims the proposed law is an attempt to attract and facilitate cryptocurrency businesses. Generally, the proposed law would require cryptocurrency exchanges, wallet services, payment providers, and ICO-related businesses to collect and retain customer information.

Blockchain Capital Raises $150 Million for Its Fourth Investment Fund

Blockchain Capital has raised USD 150 million for its fourth investment fund. According to Axios, Blockchain Capital is an investor in large cryptocurrency companies — such as Coinbase and Ripple. Blockchain Capital raised its third investment fund through an ICO last year.

Over 3,000 South Koreans Sign Petition Requesting Cryptocurrency Regulation-Free City

3,500 South Koreans have signed a petition to the government requesting a cryptocurrency and blockchain regulation-free city within their country. According to The Merkle, the petition expires on May 9, 2018. Last year, 130,000 South Koreans filed the petition to the Blue House to revoke publicly proposed ban on cryptocurrency trading. The next day, the government revoked the proposal and offered a public apology.

Mark Carney Acknowledges Cryptocurrency Not a Threat Currently, But Regulation Still Needed

Mark Carney, the governor of the Bank of England, acknowledged that cryptocurrencies currently do not pose a threat during a speech at the Public Policy Forum’s Canada Growth Summit in Toronto. However, according to the Bitcoinist, he also claimed that there is a “huge amount” of illicit activity is facilitated with the use of cryptocurrency. Consequently, he went on to suggest that greater regulation of the cryptocurrency industry is still necessary.

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