The blockchain/crypto week at a glance

John McAfee doesn’t pay taxes, OK?

FCA targets crypto businesses

The UK’s Financial Conduct Authority is currently investigating 18 companies in connection with cryptocurrency transactions amid escalating concern over the threat posed by Bitcoin et al to the integrity of financial markets. 

In figures released to the Telegraph under freedom of information laws, it said that as of 12th November it had opened inquiries into 67 firms involved in cryptocurrency businesses.

India: no crypto regulations timeline in place

The Indian government is in no hurry to finalise any crypto regulations or to even set a deadline for the task, Quartz reports.

Iran: ‘Aiding Gram cryptocurrency constitutes criminal act’

The Secretary of Criminal Content Definition Task Force has said any cooperation with the Telegram messaging app to launch the cryptocurrency Gram in Iran constitutes an action against national security and will be dealt with as a disruption to the country’s economy, Tehran Times reports.

Bitcoin separates from the pack

Bitcoin separated itself from other cryptocurrencies in 2018 and will continue to do so going forward, according to Jimmy Song. 

Decentralisation is key here. “The advantages of decentralisation are often subtle and easy to dismiss, but they are real benefits,” he says in a blog post.

Republic of Abkhazia announces crypto clampdown

The government of the Republic of Abkhazia has cut power to some cryptocurrency mining farms due to electricity concerns, Chernomorenergo RUE announced on Facebook.

Calvin disses Vitalik on Twitter

In 2018 the blockchain/decentralisation story fell apart (or so this guy says)

Saudi Customs wraps blockchain pilot programme

Saudi Customs has integrated its cross-border trade platform FASAH with IBM and Maersk’s TradeLens solution.

DMM.com shutters crypto mining venture

Japanese e-commerce venture DMM.com is closing its crypto mining business, due to deteriorating profitability, Toyo Keizai reports.

South Africa tackles crypto challenge

The South African government has established a crypto assets regulatory working group, BusinessDay reports.

New York claims crypto first

New York has become the first state in the US to create a cryptocurrency task force to study how to properly regulate, define and use cryptocurrency. 

Mike Novogratz increases stake in Galaxy Digital

He now owns about 80% of shares in the firm he founded, Bloomberg reports.

Overstock notches up another crypto first

Online retailer Overstock is set to become the first major US company to pay a portion of its Ohio state business taxes in Bitcoin, using the new platform, OhioCrypto.com.

Exciting stuff happening in Switzerland at every level, Lamassu

Bitcoin ATM venture Lamassu has moved to Switzerland following regulatory issues in other countries, according to a Medium post.