Anti-money laundering and counter terrorist financing legislation are designed to protect against the transfer and disguise of funds from criminal activity, or funding of terrorist groups. The FCA stated in the official announcement: While this is not the only element that the FCA will assess in relation to an applicant, the FCA will only register…
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Kuroda went on to differentiate Bitcoin from stable coins which are known to have their value backed up by assets. Stable coins are also obliged to meet regulatory governance codes and legal standards, meaning that the Governor is under the impression that they could well become a suitable trading alternative in the near future. Volatility…
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The governor of the Bank of Korea suggested that cryptocurrency trades from South Korean citizens are a potential threat to the country’s financial system. Increased trading of virtual assets – known for their volatile pricing – is threatening to leave the nation’s financial system at risk of instability, according to the Governor of the Bank…
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These statements from Lee may not come as a surprise from those who know the governor’s policies, the chief who takes the title of being the second-longest-serving in his position having previously taken a similar stance on cryptocurrency in recent years. Lee has suggested that the central bank needs to engage in “close cooperation to…
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The new Iconic Funds Physical Bitcoin ETP, available in two trading currencies, will offer investors a selection of 32 Bitcoin ETPs and structured products at SIX to choose from. The number of ETP issuers now rises to nine, following the recent addition of ETC Group as well as CoinShares and SEBA Bank in the first…
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During the conference, da Ponte was also probed on the subject of central bank digital currencies (CBDCs), following news that the PayPal vice president had met up with central bankers across the globe. Though da Ponte accepted the logic of central banks issuing their own tokens, he refused the common opinion that just one of…
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The cryptocurrency mining industry has become prominent in Iran partially due to the presence of highly subsidised electricity within an extremely power-reliant trade. With such subsidies in place, imports can then theoretically be paid for using bitcoin. However, the US has implemented sanctions that bar all banking transactions between themselves and Iran, and with blockchain…
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The HSBC is going on a different path than rivals such as Goldman Sachs whose digital investing branch, Saxo Markets, recently announced the launch of a new crypto trading service - Crypto FX. Bitcoin’s price has been on a rollercoaster during the last few days with a 50% fall, trading $36,387 on Monday, just 40…
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A large portion of the new-found regulatory issues are because Crypto miners are using increasingly strong and bespoke tech equipment – often referred to as rigs - to certify virtual coin trades within a process which creates freshly minted cryptocurrencies, including the likes of bitcoin. Speaking of China’s latest crackdown, Chen Jiahe, Chief Investment Officer…
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Kostyukhin added: We set out to deliver a product which offers the security and ease of use associated with more mature asset classes, coupled with the volatility and dynamics of Bitcoin, Ethereum, and Litecoin – giving clients the opportunity to trade both long and short in the thriving crypto market. The latest service from Saxo…
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