CryptoCurrency – Finance Magnates | Financial and business news

CryptoCurrency – Finance Magnates | Financial and business news

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https://www.financemagnates.com/cryptocurrency/regulation/mexico-reminds-domestic-and-overseas-crypto-companies-to-report-operations/
https://www.financemagnates.com/?p=324416
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”https://www.financemagnates.com/wp-content/uploads/2016/04/m591054.jpeg” data-srcset=”https://www.financemagnates.com/wp-content/uploads/2016/04/m591054.jpeg 1x” alt=”Mexico” width=”100%” height=”auto”></div><div class=”the-content”><p>The Government of México has issued a fresh reminder to crypto exchanges that offer services within the country to report any info about their operations or maneuvers before September 17. <a href=”https://sppld.sat.gob.mx/pld/interiores/noticias.html”>According to the notice</a>, crypto companies should report any transactions exceeding the $87,000 threshold.</p><p>In fact, the Money Laundering Prevention website of the Government of Mexico clarified that the rule applied for these companies that run under national jurisdiction or in a foreign one. “We refer to the obligation provided in section VI of article 18 of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin (LFPIORPI), according to which those who carry out Vulnerable Activities in terms of section XVI of the Article 17 of the same Law, they must present Notices about the acts or operations that they carry out, no later than the 17th day of the month following in which said acts or operations are carried out,” the government said.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>SuperForex Solidifies Market Footprint in Kenya<a href=”https://www.financemagnates.com/thought-leadership/superforex-solidifies-market-footprint-in-kenya/”>Go to article &gt;&gt;</a></p></div><h2>Mexico and FATF</h2><p>The ruling also targets any crypto-related firms that offer custody and trading services, while it doesn’t cover financial entities. The amount of money mentioned by the government is worth 645 Measurement and Update Units (UMA). Per the digital asset definition, the Mexican authorities stated: “A virtual asset shall be understood to be any representation of value registered electronically and used among the public as a means of payment for all types of legal acts and whose transfer can only be carried out through electronic means.”</p><p>With the reminder, Mexico <a href=”https://www.fatf-gafi.org/publications/mutualevaluations/documents/fur-mexico-2021.html”>goes in line with the Financial Action Task Force (FATF) guidelines</a>. This entity had placed the country among a highly reputable one in terms of cryptocurrency regulation. In June, the FATF pointed out that Mexico was “outstanding” on its path to being compliant with the rulings on the crypto sphere, including the enforcement of Know Your Customer (KYC) rules among crypto exchanges and crypto service providers.</p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div> Fri, 20 Aug 2021 22:54:32 +0000 Felipe Erazo
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https://www.financemagnates.com/cryptocurrency/regulation/mexico-reminds-domestic-and-overseas-crypto-companies-to-report-operations/
Regulation
crypto
Mexico


https://www.financemagnates.com/cryptocurrency/news/the9-limited-to-establish-a-joint-venture-in-kazakhstan-for-crypto-mining/
https://www.financemagnates.com/?p=324414
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”https://www.financemagnates.com/wp-content/uploads/2018/02/Bitcoin-mining-2.jpg” data-srcset=”https://www.financemagnates.com/wp-content/uploads/2018/02/Bitcoin-mining-2.jpg 1x” alt=”bitcoin mining” width=”100%” height=”auto”></div><div class=”the-content”><p>The9 Limited, a Nasdaq-listed internet company, has announced on Friday that its subsidiary NBTC Limited and a Kazakhstan company LGHSTR Ltd. signed a non-binding investment memorandum to establish a joint venture in Kazakhstan. According to the press release, both NBTC and LGHSTR will own 51% and 49%, respectively.</p><p>On the other hand, NBTC will take the lead of the joint venture’s board of directors. The purpose of the business maneuver is to allocate investments and build cryptocurrency mining facilities with a total capacity of 200MW over two years. Per its calculations, The9 Limited believes that once the construction has finished, it would <a href=”https://www.prnewswire.com/news-releases/the9-limited-signed-an-investment-memorandum-to-establish-another-cryptocurrency-mining-joint-venture-for-building-another-200mw-capacity-in-kazakhstan-301359634.html”>have enough ability</a> to deploy over 50,000 S19 Antminers with 5EH/s hash power.</p><p>“The9 is actively developing the globalization of its cryptocurrency mining business. The first batch of hash power has been restored in Kazakhstan in early August this year and has been operating stably. If the cooperation with our worldwide mining facilities partners progresses smoothly, we expect to restore approximately 50% of our original hash power by the end of October this year, and we plan to restore all our original hash power and add new hash power before the end of this year,” Cai Zhifang, CEO of NBTC Ltd., commented.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>SuperForex Solidifies Market Footprint in Kenya<a href=”https://www.financemagnates.com/thought-leadership/superforex-solidifies-market-footprint-in-kenya/”>Go to article &gt;&gt;</a></p></div><p>In the first phase, the internet company aims to finish the construction of 20MW by September 2021, with a total of 100MW to be completed by the end of 2021. “The9 will continue to actively seek for low-cost electricity and sustainable energy mining facilities in different regions in the world, to accelerate the deployment of large-scale cryptocurrency mining machines for The9 and other partners by both investments in mining facilities and hosting cooperation with mining facilities companies,” the company stated in the announcement.</p><h2>Rising Bitcoin Mining Revenues</h2><p><em>Finance Magnates</em> <a href=”https://www.financemagnates.com/cryptocurrency/news/bitcoin-mining-revenues-increase-sharply/”>reported recently</a> that Bitcoin (BTC) witnessed a significant jump in its network activity since the start of August. The total number of active BTC addresses and Bitcoin whale activity increased substantially during the mentioned period.</p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div> Fri, 20 Aug 2021 21:43:27 +0000 Felipe Erazo
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https://www.financemagnates.com/cryptocurrency/news/the9-limited-to-establish-a-joint-venture-in-kazakhstan-for-crypto-mining/
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crypto
Mining


https://www.financemagnates.com/cryptocurrency/news/bitcoin-suisse-and-worldline-launch-crypto-payment-solution-in-switzerland/
https://www.financemagnates.com/?p=324413
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”/wp-content/themes/fm/assets/images/Generic_Forex-880×400.jpg” data-srcset=”/wp-content/themes/fm/assets/images/Generic_Forex-880×400.jpg 1x” alt=”Bitcoin Suisse and Worldline Launch Crypto Payment Solution in Switzerland” width=”100%” height=”auto”></div><div class=”the-content”><p>Bitcoin Suisse announced on Friday that, together with Worldline, one of the leading payment companies worldwide, it will launch an omnichannel crypto payment solution for over 85,000 Swiss merchants in the Worldline network. According to the press release, the infrastructure’s support will be provided by Bitcoin Suisse.</p><p>With the new solution in place, dubbed “<a href=”https://www.bitcoinsuisse.com/news/worldline-and-bitcoin-suisse-launch-wl-crypto-payments-in-switzerland”>WL Crypto Payments</a>,” e-commerce and point-of-sale merchants in Switzerland could accept payments in Bitcoin (BTC) and Ethereum (ETH). When a customer arranges a purchase, prices will be shown by the merchant in CHF, and it can be alternatively quoted in one of the cryptos mentioned above.</p><p>“The launch of cryptocurrencies acceptance at the POS in Switzerland is a great proof of our ambition: Worldline wants to bring tangible value to merchants across the globe and to facilitate smooth and modern payments in all the markets we operate in. We’re happy to collaborate with Bitcoin Suisse on this forward-looking project,” Marc Schluep, Worldline Switzerland’s CEO, highlighted on the announcement. The collaboration between the parties started in November 2019, when they deployed some pilot programs to test crypto payments solutions.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>SuperForex Solidifies Market Footprint in Kenya<a href=”https://www.financemagnates.com/thought-leadership/superforex-solidifies-market-footprint-in-kenya/”>Go to article &gt;&gt;</a></p></div><h2>Recent Acquisitions Made by Worldline</h2><p>“This is a historic milestone for crypto adoption in Switzerland and beyond. It is a great pleasure working together with Worldline to bring user-friendly crypto payments to the market in Switzerland. This step proves once again that Switzerland is a leader in collaborative innovation and a pioneer in the crypto and blockchain industry,” Dr. Arthur Vayloyan, Bitcoin Suisse CEO, stated. In May, Worldline signed an agreement to acquire a 92.5% stake in Cardlink, a well-known network services provider in Greece.</p><p>The payment company <a href=”https://www.financemagnates.com/fintech/news/payments-firm-worldline-signs-an-agreement-to-acquire-cardlink/”>has been planning</a> to expand its presence in Greece with the acquisition of Cardlink. Worldline termed the latest agreement as a strategic opportunity for Worldline to expand the firm’s merchant services business in the Greek market.</p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div> Fri, 20 Aug 2021 20:03:14 +0000 Felipe Erazo
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https://www.financemagnates.com/cryptocurrency/news/bitcoin-suisse-and-worldline-launch-crypto-payment-solution-in-switzerland/
News
crypto
fintech
payments
switzerland


https://www.financemagnates.com/cryptocurrency/news/eurex-to-launch-bitcoin-etn-futures/
https://www.financemagnates.com/?p=324411
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”https://www.financemagnates.com/wp-content/uploads/2015/05/eurex.jpg” data-srcset=”https://www.financemagnates.com/wp-content/uploads/2015/05/eurex.jpg 1x” alt=”Eurex Group logo” width=”100%” height=”auto”></div><div class=”the-content”><p>Eurex, an international derivatives exchange and a member of the Deutsche Börse Group, announced on Friday that it would launch Bitcoin ETN futures, becoming the first regulated market in BTC-related derivatives in Europe. According to the press release, the new contract is expected to be deployed on September 13 this year.</p><p>Regarding the technical aspects of the brand-new ETN futures, the contract <a href=”https://mondovisione.com/media-and-resources/news/eurex-announces-launch-of-bitcoin-etn-futures/”>will be based on the BTCetc Bitcoin Exchange Traded Crypto</a>, which is currently listed on the Frankfurt Stock Exchange. “There is significant demand from institutional investors to gain Bitcoin exposure in a secure and regulated environment. We are pleased to be the first regulated exchange to offer this innovative contract. The new Bitcoin ETN futures enable investors to trade and hedge Bitcoin within Eurex’s proven trading and clearing infrastructure without the need to turn to unregulated crypto venues or set up a separate infrastructure, such as a crypto wallet. It is the logical extension of the ETN that already trades very successfully on Xetra,” Randolf Roth, Member of the Eurex Executive Board, commented.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>SuperForex Solidifies Market Footprint in Kenya<a href=”https://www.financemagnates.com/thought-leadership/superforex-solidifies-market-footprint-in-kenya/”>Go to article &gt;&gt;</a></p></div><h2>More Cryptos ETNs Are Available at Eurex</h2><p>Also, Deutsche Börse Group’s derivatives arm pointed out that the new contract will be traded in Euro and physically delivered in Bitcoin ETNs. Alongside this new offering, Eurex currently has ETNs Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), thanks to the support offered by Xetra, a leading European exchange for crypto ETNs.</p><p>Last week, <em>Finance Magnates</em> reported that Eurex <a href=”https://www.financemagnates.com/institutional-forex/eurex-to-launch-msci-brazil-futures-and-msci-china-index-futures/”>will launch MSCI Brazil Futures</a>, a Latin American benchmark index. The new product comes in the wake of a growing demand for investment within the region, and it is expected to be launched on September 6. Currently, Eurex offers MSCI EM Latin America and other index futures of other countries such as Colombia, Peru, Chile, and México. That said, with the new benchmark index, investors could directly hedge or gain exposure to the Latam market by centralizing MSCI derivatives in one exchange and clearing house.</p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div> Fri, 20 Aug 2021 17:30:29 +0000 Felipe Erazo
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https://www.financemagnates.com/cryptocurrency/news/eurex-to-launch-bitcoin-etn-futures/
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crypto
Eurex


https://www.financemagnates.com/cryptocurrency/news/australian-police-seize-6m-worth-of-cryptos-linked-to-drug-trafficking/
https://www.financemagnates.com/?p=324407
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”https://www.financemagnates.com/wp-content/uploads/2018/01/Australia-880×400-1.jpg” data-srcset=”https://www.financemagnates.com/wp-content/uploads/2018/01/Australia-880×400-1.jpg 1x” alt=”Australia, Investment Trends” width=”100%” height=”auto”></div><div class=”the-content”><p>Australia’s Victoria Police has conducted a massive cryptocurrency seizure tied to a dark web drug bust after finding almost AUD 8.5 million ($6 million) worth in digital assets. According to the authorities, the crackdown is the biggest crypto seizure made in Australia in history.</p><p>Criminal Proceeds Squad’s operation took place in several properties located at Kinglake, Preston, Prahran, Dollar, and South Yarra, with support from East Gippsland Crime Investigation Unit and Bass Coast Crime Investigation Unit. As a result, a 31-year-old woman and a 30-year-old man were arrested and questioned by the police. While both have been released, the woman was bailed to appear at Seymour Magistrates’ Court on March 3, 2022.</p><p>Australian authorities <a href=”https://www.police.vic.gov.au/record-australian-cryptocurrency-seizure”>have been investigating</a> the drug trafficking dark web platform since early 2021. Per findings, the site has been online since 2012. During the operation across the country, police restrained two properties in Kinglake and Dollar valued at about AUD 2 million and vehicles including a Toyota Prado and VW T-Cross valued at about AUD 100,000. Moreover, cannabis, magic mushrooms, MDMA, prescription medication, and white powder and crystals were found in some properties.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>SuperForex Solidifies Market Footprint in Kenya<a href=”https://www.financemagnates.com/thought-leadership/superforex-solidifies-market-footprint-in-kenya/”>Go to article &gt;&gt;</a></p></div><h2>Investigation Remains Underway</h2><p>“This is a remarkable result and one that highlights the modern nature of serious and organized crime. This is the 21st century version of drug trafficking and money laundering, with criminal using technology to enable immense amounts of community harm and misery. Police actively work on these forums and receive information from a wide range of sources, including our Australian and international law enforcement partners,” Mick Frewen from the Victoria Police Crime Command commented.</p><p>As of press time, there is no information about which cryptocurrencies were seized as the investigation remains ongoing, the police noted.</p><p>Recently, in the United Kingdom, Greater Manchester Police’s Economic Crime Unit of the United Kingdom <a href=”https://www.financemagnates.com/cryptocurrency/news/uk-authorities-seize-9-5-million-worth-of-ethereum-found-in-usb-sticks/”>seized around $22.25 million</a> after intelligence inquiries found USB sticks with significant amounts of Ethereum (ETH).</p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div> Fri, 20 Aug 2021 15:28:51 +0000 Felipe Erazo
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https://www.financemagnates.com/cryptocurrency/news/australian-police-seize-6m-worth-of-cryptos-linked-to-drug-trafficking/
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