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Cryptocurrency Regulations in Hong Kong

Laney Zhang Foreign Law Specialist SUMMARY In Hong Kong, virtual currencies are not considered legal tender but are virtual commodities. Hong Kong’s Securities and Futures Commission (SFC) has clarified that virtual assets falling under the definition of “securities” are subject to the SFC’s regulation. More recently, in November 2018, the SFC issued guidance on a new regulatory approach to bring more virtual asset portfolio managers and distributors of virtual asset funds under its regulatory net. The SFC will impose licensing conditions on corporations that manage or intend to manage portfolios investing in virtual assets, where 10% or more of the…

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Cryptocurrency Regulations in Canada

Tariq Ahmad Foreign LawSpecialist SUMMARY: Canada primarily regulates cryptocurrencies under securities laws. The Canadian Securities Administrators have issued guidance on how the relevant laws may apply to different activities involving cryptocurrencies. It includes information on when coins or tokens may be considered securities and states that each initial coin or token offering must be considered on its own characteristics. Where securities are involved, this may trigger prospectus or registration requirements. Canada allows the use of digital currencies, including cryptocurrencies. However, cryptocurrencies are not considered legal tender in Canada. Canada’s tax laws and rules, including the Income Tax Act, also apply…

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SMART CONTRACT ENFORCEABILITY

INTRODUCTION TO SMART CONTRACTS- In the year 1996, Nick Szabo in his article Formalizing and Securing Relationships on Public Networks1 came up with the concept of smart contracts he stated that “a smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, confidentiality, and even enforcement), minimize exceptions both malicious and accidental, and minimize the need for trusted intermediaries. Related economic goals include lowering fraud loss, arbitration and enforcement costs, and other transaction costs.” He predicted the application…

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The topmost crypto-mining graphics cards to become a great report for your buck.

Cryptocurrency miners are back in business, however, which graphics card must you select to not be left with a vacant wallet? Currently that we are at the end of 2020, the large hardware manufacturers are initial to proclaim their newest, wildest aids set to be released gaining of the holiday season. Temporarily, the cryptocurrency mining market remains to increase quickly in contradiction of all the chances. Here’s an impression of which producers proposal the top graphics cards in the market and which cards suit exact types of mining. Ether or Bitcoin? In terms of selecting a cryptocurrency to mine in…

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