Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money transfer industry perceive the blockchain and cryptocurrencies as technologies that can enhance remittance processes. Cryptocurrencies Eliminate Expensive Practices for Remittance Providers Using cryptocurrencies for the settlement of transactions can be a useful “alternative to traditional settlement processes,” the latest report by the International Association of Money Transfer Networks (IAMTN) has…
Month: July 2022
Barclays Expected to Invest 'Millions of Dollars' in Copper's Funding Round: Report
U.K. bank Barclays is among the investors in cryptocurrency custody firm Copper’s $2 billion funding round, according to a report by Sky News. Source
Barclays Expected to Invest "Millions of Dollars" in Crypto Custody Firm Copper's $2B Round: Report
U.K. bank Barclays is among the investors in cryptocurrency custody firm Copper’s $2 billion funding round, according to a report by Sky News. Source
Thai SEC launches digital hotline for Zipmex users
In the aftermath of the Thai cryptocurrency exchange Zipmex stopping withdrawals last week, local financial regulators are stepping in to look into potential losses by investors. Thailand’s Securities and Exchange Commission (SEC) is taking action to collect all necessary information from investors on how they have been affected by issues on Zipmex. The regulator officially announced on July 25 that Zipmex customers can submit information via an online forum on the Thai SEC’s official website. The SEC has received a number of complaints from people affected by Zipmex after the…
Tether, Bitfinex, Hypercore collab to launch encrypted P2P apps
Staying true to the “bear market is for building” motto, crypto exchange Bitfinex along with Tether (USDT) and Hypercore announced the launch of a fully encrypted platform, Holepunch, for building peer-to-peer applications. As part of the initiative, the trio launched Keet, an encrypted application capable of facilitating real-time audio and video calls, text chat and file sharing. Partners aim to bestow control over data while breaking technology monopolies with Holepunch, according to the announcement. Tether and Bitfinex funded the development of the Holepunch platform. Paolo Ardoino, the chief technology officer…
Paraguay Senate Approves Cryptocurrency Bill
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The Paraguayan Senate has approved a bill seeking to regulate cryptocurrency and its operations in the country. The bill, which has been submitted to deputies, was approved with several suggested changes, establishing clear definitions and tax exemptions for companies in the crypto mining and cryptocurrency sector. Countries in Latin America are trying to standardize and regulate cryptocurrencies to bring more clarity to investors dedicated to the industry in the area. On July 14, Paraguay’s senate gave the green light to a cryptocurrency…
The best bear market plan? ‘Relentless optimism for the future,’ says fintech CEO
While many crypto veterans give out a wide range of bear market advice and strategies, some opt for a more straightforward approach—optimism. Being resilient and positive during this time is very important, according to Jeremy Almond, the CEO of Paystand, a B2B payments fintech. Almond told Cointelegraph that the best way to plan during the crypto winter for companies is having what he calls a “brutal understanding of the facts” and “relentless optimism for the future.” He explained that: “As a company, you always want to be resilient in case…
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South Korean Prosecutors Raid Home of Terraform Labs Co-Founder – Regulation Bitcoin News
A team of South Korean prosecutors recently raided the home of Terraform Labs co-founder Shin Hyun-seong. During an earlier raid that targeted 15 places, including seven cryptocurrency exchanges, the prosecutors reportedly secured terra transaction data. Seven Cryptocurrency Exchanges Targeted South Korean prosecutors investigating the spectacular collapse of Terra’s LUNA cryptocurrency reportedly raided the home of Terraform Labs co-founder Shin Hyun-seong on July 22. According to a report, the raid on Do Kwon’s fellow co-founder’s home came a day after 15 other places, including seven cryptocurrency exchanges, were similarly targeted by…
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