Bitcoin 

Swiss Crypto Banks Receive Licenses From Financial Regulator

The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks. Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26. With the new license, Seba expects to officially launch its new trading platform platform in early October 2019, the company stated. Seba’s plans include the establishment of a digital asset platform for professional traders, firms and institutional clients, as well as custody storage and asset management.…

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Ethereum 

Seed CX Subsidiaries Receive Bitlicenses From New York Regulator

New York state financial regulators have issued virtual currency licenses to two subsidiaries of crypto derivatives firm Seed CX: Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. In a press release published on July 15, Financial Services Superintendent Linda A. Lacewell announced that the New York State Department of Financial Services (DFS) has approved the applications of SCXM and Zero Hash for virtual currency licenses. SCXM operates as a spot exchange for digital asset commodities while Zero Hash is a calculation and settlement agent for digital assets. With…

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Cryptocurrency 

Cryptos Will Not Receive Wide Acceptance in the Near Future

Cryptocurrencies will not receive wide use in Australia as long as the local financial system is efficiently working, the Reserve Bank of Australia (RBA) stated in an official document issued on June 20. According to the notice authored by analysts from RBA’s payments policy department, there is “little likelihood of a material take-up of cryptocurrencies for retail payments in Australia in the foreseeable future” due to a number of reasons. In the document, authors outlined the so-called “scalability trilemma,” which means that crypto can at best solve only two out…

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Bitcoin 

BitPay Partners With Refundo to Enable Taxpayers to Receive Refunds in Bitcoin

Cryptocurrency payment services firm BitPay has partnered with tax-related financial products company Refundo to enable people to get a portion of their tax refund back in bitcoin (BTC). The development was announced in a press release shared with Cointelegraph on April 30. Refundo’s new product dubbed CoinRT allows taxpayers to receive all or a portion of the federal and state tax refunds in BTC through BitPay’s Payouts, purportedly ensuring low transaction fees, speed, and serving the underbanked. To start using the platform, taxpayers need to create an account, provide a…

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Bitcoin 

Creditors Will Soon Receive Decisions Over Rehabilitation Claims

Nobuaki Kobayashi, trustee of the now-defunct Bitcoin (BTC) exchange Mt. Gox, has announced he has concluded the processing of creditors’ rehabilitation claims and that they will be notified of the results within days. The announcement was published in an English translation on March 19. As previously reported, roughly 24,000 creditors are thought to have been affected by Mt. Gox’s 2011 hack and subsequent collapse in early 2014, which resulted in the loss of 850,000 BTC valued at roughly $460 million at the time. Tokyo attorney Nobuaki Kobayashi, who was appointed…

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Bitcoin 

Seven Cryptocurrency Exchanges Could Receive FSA-Issued Licenses in Two Months

According to new insight into the Japanese financial agency’s review process of companies applying for a cryptocurrency exchange license, seven applications will be either approved or rejected within two months. Cointelegraph Japan reported on this development on Jan. 12. The new information in regard to the review process offered by the Financial Services Agency (FSA) revealed that it involves a lengthy procedure that takes almost six months from the time of application — which includes the submission of answers to over 400 questions — to official decline or approval. According…

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Bitcoin 

New Bot Enables Millions to Send and Receive Cryptocurrencies on Facebook Messenger

A company is giving Facebook users a way to securely send and receive crypto through Messenger — all while keeping sensitive information private. Lite.IM says its bot currently supports four cryptocurrencies: Bitcoin, Ethereum, Litecoin and its own native currency, ZTX. The company says it is “driven by a vision of what the world might look like if the founding ideals of the cryptocurrency revolution were actually realized” — a place where anyone can enjoy financial freedom irrespective of their technical skills or the region of the world where they reside.…

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