Russian Parliament Attacks Cryptocurrency Along with Ponzi Schemes

Russian State Duma considers several draft laws providing administrative and criminal prosecution for arrangement of companies working on Ponzi schemes, which are broadly referred to in Russia as ‘financial pyramids’. An amendment to the Criminal Code establishes four years of inprisonment for distribution of any information related to such organizations.

American Miner Accused of Running a Ponzi Scheme

The U.S. Securities and Exchange Commission filed a claim in a court stating that founder of two mining companies established a Ponzi scheme in order to pocket money of his investors. The companies in question are ZenMiner and GAW Miners, both of which are owned by Homero Garza.

Goldman Sachs to Create a New Cryptocurrency

US-based international bank Goldman Sachs has applied to the US Patent and Trademark Office seeking for patenting its proprietary cryptocurrency-based system for settlement of securities. The cryptocurrency dubbed SETLcoin, according to the application, is intended for p2p-exchange of digital tokens, which in their turn act as instantaneous replacement for actual.

Estonia Seeks Cryptocurrency Clarification

The Supreme Court of Estonia has made a request addressed to local central bank, two government departments, the Bank of Estonia, and the country’s financial regulator, to clarify their views on legal stance of digital currencies in regard to AML policies and general essence of cryptocurrency and the underpinning technology.

Barbados is Recommended to Use Crypto Money as Reserve Currency

Former employees of the Central Bank of Barbados have issued a paper titled ‘Should Cryptocurrencies Be Included In The Portfolio Of International Reserves Held By The Central Bank Of Barbados?’ where they suggest that the island’s regulator should consider using cryptocurrency as its foreign reserve. However, according to the authors,.

Russia is to Ban Twitter

The court of the Chechnia, Russia, considered Charlie Hebdo’s account in Twitter the one that violates religious feelings of believers, and thus ruled to ban the social network in Russia.