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Russia’s Ministry of Finance Begins Process of Legalizing Cryptocurrency Trading
Russia’s Ministry of Finance has started the process of legalizing cryptocurrency trading in government-approved trading platforms. According to RNS Online, the draft law, the title of which translates to “On Digital Financial Assets,” defines what a smart contract is and regulation of ICO. The bill also introduces new taxes on cryptocurrency trading.
Central Bank of Bahrain Grants Cryptocurrency Exchange, Belfrics Global, Sandbox License
The Central Bank of Bahrain has awarded Belfrics Global, a Malaysia-based bitcoin technology provider, a sandbox license to open and operate a cryptocurrency exchange in Bahrain. According to Bitcoin.com, Belfrics Global will now have access to the USD 50 billion cryptocurrency market in Bahrain. Belfrics Global is the first company to receive a sandbox license from Bahrain.
ChinaNet Online Increases Cash Reserves From USD 1 Million to USD 11 Million After Blockchain Announcement
ChinaNet Online, an online advertising company based in Beijing, raised USD 11 million after announcing it is exploring blockchain solutions. According to TheStreet.com, ChinaNet Online only had USD 1 million in cash reserves prior to the announcement. ChinaNet has provided detailed plans on how it will incorporate blockchain into its advertising and marketing business.
Indian Telecom Giant, Reliance Jio Infocomm Ltd., Announces Plans for its Own Cryptocurrency
According to Investopedia, Reliance Jio Infocomm Ltd. is planning on launching its own cryptocurrency, called JioCoin. Reliance Industries Limited is a Fortune 500 company. It is also the largest private sector corporation in India.