Author: Yana Vyblova

St. Petersburg cancels decision to block cryptocurrency information site

The Supreme Court of Russia has obligated the St. Petersburg City Court to review an appeal against blocking of the website on cryptocurrencies bitcoininfo.ru, told RAPSI. “The case is sent for a new consideration by another composition of the court,” the joint press service of the city courts reported. The story began in 2016 when the Vyborgsky District Court of St. Petersburg has granted a request of prosecutors and blocked the cryptocurrency information website. The court appeared the information that bitcoins violated Russian legislation. “Cryptocurrencies, including bitcoins, are surrogates money which promote the growth of the shadow economy and can...

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Bitcoin “generally permissible” under Sharia law

The Bitcoin (BTC) is “generally permissible” under Sharia law, says a Blossom Finance report. A fintech startup based in Indonesia made its own research weather Bitcoin is halal or haram. The report was written by Mr. Muhammad Abu Bakar who serves as Blossom’s internal shariah advisor and a certified Mufti, specialized in Islamic Jurisprudence and Fiqh Al-muamalat. The Islamic finance sector adheres to Shariah law so the understanding of cryptocurrency and blockchain was a matter of time, especially if we see how it changes business and finance in the world. Following the report, countries like German, where cryptocurrency is legal, bitcoin can be classified as Islamic money....

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UAE will adopt blockchain technology to save billions

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum declared that the UAE has chosen to adopt the “Future Industry” policy to become a world leader in adopting technology. “The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens. 50 percent of government transactions on the federal level will be conducted using Blockchain technology by 2021… This technology will save time, effort and resources and enable individuals to conduct most of their transactions in a timely...

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Energy giant BP tests internal tokens

Energy giant BP looking for blockchain startups that are doing initial coin offerings.  and it’s even tested tokens internally, an executive said Wednesday. During the Blockchain Expo in London, the technology director for BP’s digital innovation organization, Julian Gray, said what many thinks that non-financial enterprises are perhaps more open to open-blockchain innovation than their financial-services counterparts. “Inside BP, he said, there’s a lot of education that needs to be done. But there is a handful of people at the company, formerly known as British Petroleum, now who realize that blockchains, even the open kind, are not merely “hacker...

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Russian police arrest cryptocurrency miners

The police opened a criminal case against two individuals in connection with an illegal cryptocurrency mining farm in Orenburg, Russia. Ministry of Internal Affairs spokeswoman Irina Volk reported that over 6,000 pieces of computer equipment were found on the site of the former rubber technical goods plant. Two leaders of the organization did mining by stealing electricity. According to preliminary estimates, the productivity of the bitcoin farm was 8 million kW/h and it is approximate cost 60 million rubles (about $1 million). The police found more than 6,000 units of equipment connected to the power grid, and power supply cables leading...

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