South Korea bans all new cryptocurrency sales

South Korea bans all new cryptocurrency sales - CNBC  #Crypto #BitCoin

  • South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings.
  • The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.
  • It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.

South Korea’s financial regulator said the trading of virtual currencies needed to be tightly controlled.
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Taylor Review: All work in UK economy should be fair

  • The report by former aide to Tony Blair, Matthew Taylor, pays particular attention to the gig economy.It recommends that workers for firms such as Uber and Deliveroo should be classified as dependent contractors, with extra benefits.The Prime Minister said the government would take the report’s recommendations seriously.Mr Taylor said there was a perception that the gig economy put too much power into the hand of employers: “Of all the issues that were raised with us as we went around the country, the one that came through most strongly was what the report calls one-sided flexibility.
  • “Taylor recommendations for the government: • People who work for platform-based companies, such as Deliveroo and Uber, be classed as dependent contractors• Strategies must be put in place to make sure that workers do not get stuck on the National Living Wage• The review suggests a national strategy to provide good work for all “for which government needs to be held accountable”• The government should avoid further increasing the the non-wage costs of employing a person, such as the apprenticeship levy

    What do gig workers do?

  • 1.1 million
    People working in Britain’s gig economy, estimate 2017

    28% of accountancy, legal advice and other consultancy work

    18% of plumbing, building and other skilled manual work

    17% of cleaning and other household services

    9% of delivery or courier services

    RSA, 27 April 2017

    Reuters

    A spokesperson for the meal delivery service Deliveroo, one of the companies at the heart of the gig-economy debate, said: “We would welcome the opportunity to work with the government so we can end this trade off between flexibility and security.

  • Media playback is unsupported on your device

    Media captionMatthew Taylor: gig economy firms should pay national insurance on workers
    Earlier, Mr Taylor had told the BBC “There are too many people at work who are treated like cogs in a machine rather than being human beings, and there are too many people who don’t see a route from their current job to progress and earn more and do better.

  • ‘Exploited’ workersHowever, Labour’s shadow business secretary Rebecca Long-Bailey said the review did not go far enough for the 4.5 million people in insecure work.She told the BBC: “If it looks like a job or it smells like a job then it is a job, and the worker should be employed, and I think in those situations where a worker is carrying out work on behalf of an employer… they should not be exploited as a flexible workers.

The author of a government review into work says a modern economy should be fair and decent.
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Iceland to end capital controls from 2008 financial crisis

  • Image caption Iceland’s economy has benefited from a tourism boomIceland will lift all capital controls on its citizens, businesses and pension funds from Tuesday.Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country’s biggest banks collapsed.The government thinks the economy has recovered sufficiently to end controls.Controls were imposed after the collapse of the country’s three biggest banks – Glitnir, Landsbanki and Kaupthing.At the same time Iceland’s national currency, the krona, fell in value.The removal of the capital controls – which helped stabilise the currency and economy during the country’s financial crash – represents the completion of Iceland’s return to international financial markets.Travel hotspotSince the nation’s financial collapse, the economy has seen a robust recovery, helped by a boom in tourism.Last year around 1.8 million people visited the the nation, a 40% rise on 2015.
  • The UK accounted for 316,395 of last year’s visitors, behind only US citizens in visitor numbers.That tourism boom, coupled with strong investment by business and in the housing market, helped the economy grow 7.2% in 2016.
  • Image caption The decision has been made by the government and Central Bank of Iceland”Iceland’s careful, measured approach to lift capital controls was developed and approved with domestic and international support,” said Benedikt Johannesson, minister of finance and economic affairs.
  • “Capital controls were implemented in 2008, with the support of the International Monetary Fund (IMF), to shield the economy from severe depreciation.
  • For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an “incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy”.

Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country’s biggest banks collapsed.
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Iceland to end capital controls from 2008 financial crisis

  • Iceland will lift all capital controls on its citizens, businesses and pension funds from Tuesday.
  • The removal of the capital controls – which helped stabilised the currency and economy during the country’s financial crash – represents the completion of Iceland’s return to international financial markets.
  • “Iceland’s careful, measured approach to lift capital controls was developed and approved with domestic and international support,” said Benedikt Johannesson, minister of finance and economic affairs.
  • Capital controls were implemented in 2008, with the support of the International Monetary Fund (IMF), to shield the economy from severe depreciation.
  • For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an “incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy”.

The government thinks the economy has now recovered sufficiently from the 2008 financial crisis.
Continue reading “Iceland to end capital controls from 2008 financial crisis”

Iceland’s Pirate party invited to form government

#Bitcoin Good news for Bitcoin: Iceland's Pirate party invited to form government. Anti-es…

  • “I met with the leaders of all parties and asked their opinion on who should lead those talks.
  • Birgitta Jónsdóttir (left), leader of the Pirate party, which came third in a snap election in October.
  • Iceland election could propel radical Pirate party into power
  • Iceland’s president has invited the anti-establishment Pirate party to form a government, after the right- and leftwing parties failed in their bids.
  • The president then called on the Left-Green Movement, the second-biggest party, to form a government.

Anti-establishment group receives mandate for power-sharing pact after talks to build five-party coalition fail
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Blockchain Could Be The Sorely Needed Revolution That Hillary Clinton Brings To Washington

  • If Clinton wants to “promote innovation while protecting privacy,” then blockchains will be mission-critical.
  • If Clinton truly wants to “advance America’s global leadership” in the technology, then she will need to embrace the internet of value.
  • As we outline in our new book, Blockchain Revolution , we can create a safer, more open, more inclusive, and more effective platform for serving the public.
  • We applaud Clinton for slipping the less-than-sonorous word “blockchain” into her announcement on technology.
  • Blockchain Could Be The Sorely Needed Revolution That Hillary Clinton Brings To Washington

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@mamoru_io: “Blockchain Could Be The Sorely Needed Revolution That Hillary … – Huffington Post #blockchain #bitcoin”


Recently Hillary Rodham Clinton announced her policy initiatives for technology and innovation. She reiterated her support for high-tech education, job creation, and the adoption of a wide range of technologies. What surprised most observers was her call for “public service blockchain applications.”


Blockchain Could Be The Sorely Needed Revolution That Hillary Clinton Brings To Washington

IBM to Open First Blockchain Innovation Center in Singapore

  • Business Day | IBM to Open First Blockchain Innovation Center in Singapore
  • SINGAPORE – IBM plans to open a blockchain innovation center in Singapore in collaboration with the government, as the city-state strives to become Asia’s main financial technology hub.
  • Singapore is rushing to reinvent itself as Asia’s fintech hub to fend off a regulatory threat to its wealth management industry and revive a sluggish economy.
  • The tech giant will be working with the main economic planning agency, the Singapore Economic Development Board (EDB), and the Monetary Authority of Singapore (MAS) to accelerate blockchain adoption for finance and trade.
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@Gwydion620: “IBM to Open First Blockchain Innovation Center in Singapore”


IBM plans to open a blockchain innovation center in Singapore in collaboration with the government, as the city-state strives to become Asia’s main financial technology hub.


IBM to Open First Blockchain Innovation Center in Singapore