Iceland is a unitary parliamentary republic in the North Atlantic with a population of around 350,000 and an area of 103,000 kilometers. Iceland is high in human development, life quality and income equality. Iceland’s economy is dependent on aluminum, seafood and other animal products, medicine and machinery. Iceland has strict currency exchange regulations. This fact led to the establishment of Auroracoin — Iceland’s cryptocurrency that was delivered only to Iceland’s citizens. Iceland’s regulations of Bitcoin prohibits its use if it leads to capital movements out of the country. However, Iceland does not prohibit Bitcoin mining and cryptocurrency investments in Iceland. The Pirate Party of Iceland is one of the most influential Bitcoin advocate groups, which promotes and is based on the development of the cryptocurrency industry and establishing convenient taxing system.
Ripple continues its run of acquisitions, announcing an expansion into Iceland with its acqui-hire of crypto trading firm Algrim.
Ripple Acquires Crypto Trading Firm to Expand Into Iceland
Cryptocurrency services firm Prasos has received a payment institution license from a Finnish regulator, allowing it to offer payment services in EEA countries.
Prasos Secures Payment Institution License From Finnish Watchdog
The Financial Supervisory Authority of Iceland approved a ConsenSys-backed blockchain firm to operate as e-money business.
Iceland’s Financial Regulator Approves Blockchain-Powered E-Money Firm
Coinbase is launching support for European Union residents to make fiat currency withdrawals to online payment system PayPal.
US Crypto Exchange Coinbase Launches Paypal Withdrawals Support for EU Users
The CBOE has withdrawn their BTC ETF rule change application, while Wyoming introduces crypto-friendly legislation.
Hodler’s Digest, Jan. 21–27: Top Stories, Price Movements, Quotes and FUD of the Week
Suspect in Bitcoin miner heist Sindri Þór Stefánsson managed to flee to Sweden before authorities arrested him in the Netherlands.
Iceland: Figurehead in Bitcoin Miner Heist Jailed for More Than Four Years
Iceland’s blockchain-powered identity platform Authenteq has received a $5 million investment from Draper Associates, among others.
Iceland: Draper Associates Leads $5 Million Funding Round for Blockchain-Based ID Platform