Here's why WikiLeaks can't convert its cryptocurrency into money
Cryptocurrency marketplace Coinbase has shut the account of whistleblowing website WikiLeaks' Shop for allegedly violating its terms of service -- which means it cannot convert payments like bitcoin into conventional money.
 
According to a report on tech website Engadget, Coinbase did not give a specific reason but it pointed to its legal requirement to honour "regulatory compliance mechanisms" under the US' Financial Crimes Enforcement Network.
 
Interestingly, WikiLeaks is calling for a "global blockade" of Coinbase, claiming that the exchange is reacting to a "concealed influence."
 
Earlier this month, several tech giants, including Google, Facebook and Twitter, cracked down on malicious cryptocurrency mining practices on their platform.
 
Google Chrome's web policy permitted cryptocurrency mining in extensions as long as it is the extension's single purpose and the user is adequately informed about the mining behaviour.
 
"Unfortunately, approximately 90 per cent of all extensions with mining scripts that developers have attempted to upload to Chrome Web Store have failed to comply with these policies, and have been either rejected or removed from the store," James Wagner, Extensions Platform Product Manager at Google, had said.
 
Extensions with Blockchain-related purposes other than mining will continue to be permitted in the Web Store, Google said.
 
Twitter confirmed to block cryptocurrency-related ads on the platform. In January, social media giant Facebook banned all ads promoting cryptocurrencies, including Bitcoin and ICOs.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

 

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    Singapore Exchange to list new India equity derivative products in June
    The Singapore Exchange (SGX) on Wednesday said it will list new India equity derivative products in June.
     
    "The SGX will list new India equity derivative... to provide market participants with continuity and the ability to seamlessly transition their current India risk management exposures," it said in a statement.
     
    The SGX's announcement comes after three major domestic exchanges -- BSE, NSE and Metropolitan Stock Exchange of India (MSEI) -- on February 9 said they will stop operating their indices on international bourses.
     
    The products also "add to the existing India Single Stock Futures offering, which has garnered active participation from global institutional clients since its launch, demonstrating the demand for access products", it added.
     
    The statement said that work was ongoing to evaluate a joint trading and clearing model in the Gujarat International Finance Tech (GIFT) city between the National Stock Exchange of India (NSE) and SGX to meet the risk management needs of international participants.
     
    "The SGX has worked hard over the past two decades to promote the development and internationalisation of India's capital markets. 
     
    "We are still exploring a solution that would bring the liquid international market directly into GIFT city, in a way that meets our clients' regulatory requirements while growing the overall market," said Michael Syn, Head of Derivatives at SGX.
     
    "In the meantime, we will continue with our new India equity derivative products, which international portfolio investors need to maintain exposure to India," he added.
     
    "Exchanges or their subsidiaries/group entities or any other entity having licensing arrangement with exchanges shall not license/provide Indian indices and/or the data including the price of Indian securities to any foreign exchange and/or trading platforms for trading or settling derivatives in any form in a foreign jurisdiction," the exchanges had said in a joint statement.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    Twitter to ban cryptocurrency ads from Tuesday
    Twitter has confirmed that it will begin blocking cryptocurrency-related ads on the platfrom from Tuesday even as the micro-blogging site updated its policy relating to such advertisements.
     
    "We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally," The Verge quoted the company as saying.
     
    "The policy will be fully enforceable among all advertisers within a month," Twitter said, adding that all ICOs and token sales would be banned, and cryptocurrency exchanges and wallets would be restricted to only public companies listed on major stock markets.
     
    Earlier this month, Twitter CEO Jack Dorsey acknowledged that the company was facing an issue wherein copying verified Twitter accounts to trick cryptocurrency users was becoming increasingly prevalent.
     
    Dorsey said the company was working to fix the cryptocurrency scam on Twitter in which several users were tricked and their digital assets were stolen.
     
    Banning cryptocurrency-related ads follows Facebook and Google's announcement that they would ban advertisements for cryptocurrencies and other "speculative financial products" across their ad platforms.
     
    In January, social media giant Facebook banned all ads promoting cryptocurrencies, including Bitcoin and ICOs.
     
    Google's ban on such advertisements would come into force from June. 
     
    "We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)," Scott Spencer, Google's Director of Sustainable Ads, had said. 
     
    "In June 2018, Google will update the financial services policy to restrict the advertisement of contracts for difference, rolling spot forex and financial spread betting," Google said.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

     

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