Autor Cointelegraph By Arnold Kirimi

Valereum acquires Gibraltar-based Juno to expand on crypto-fiat bridge

Valereum acquires Gibraltar-based Juno to expand on crypto-fiat bridge

Uverejnil používateľ | dec 31, 2021 |

Gibraltar-based tech group Valereum Blockchain announced the acquisition of Juno Group, a company that aids in the establishment and administration of trusts, money management and enterprise creation in Gibraltar.Juno is a company that Valereum describes as having three areas of licensed operation: the management of trusts and similar entities, the administration of cash for a range of activities, including both fiat and cryptocurrency transactions, and the incorporation and management of businesses in Gibraltar and other countries around the world.The agreement is a step toward creating a fully regulated link between the fiat and crypto worlds, according to the press release, which complements Valereum’s work with the Gibraltar Stock Exchange (GSX).In October 2021, Valereum revealed its intention to acquire the Gibraltar Stock Exchange, a regulated exchange that has sought to distinguish itself by pursuing regulated digital assets.The regulators of the peninsula are currently evaluating Valereum’s bid to acquire the exchange in the new year, which could lead to the world’s first integrated bourse where common bonds can be traded alongside major cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE).Following the acquisition of Juno, Valereum’s board member Alan Gravett will assume the position of chair at Juno. Only the Gibraltar Financial Services Commission’s approval is required for the transfer and change in control to be finalized.Related: Gibraltar’s government plans to bridge the gap between public and private sectors with blockchainGibraltar has recently shown to be a more favorable regulatory environment for businesses in the cryptocurrency space. The Financial Services Commission of Gibraltar has recently permitted cryptocurrency enterprises looking to operate in the territory, including Huobi Group’s local subsidiary Huobi Gibraltar, which offers spot trading services, and Block.one’s branch Bullish Limited.

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Shanghai includes metaverse in its development plan

Shanghai includes metaverse in its development plan

Uverejnil používateľ | dec 31, 2021 |

Shanghai, China’s most crowded city, is looking for ways to use a metaverse in public services over the next five years.Shanghai Municipal Commission of Economy and Information Technology’s five-year development plan for the electronic information industry listed four frontiers for exploration, and one of them is the metaverse.According to a CNBC report, the paper called for promoting the metaverse’s use in public services, business offices, social leisure, industrial manufacturing, production safety and electronic games. The commission plans to encourage further study and development of underlying technologies, such as sensors, real-time interactions and blockchain technology.China’s interest in new technology has been unwavering in recent years, and its efforts to establish a central bank digital currency (CBDC) and its use of digital biometric hardware wallets for the virtual yuan have cemented it as a leader in the issuance of a CBDC.In March, China’s State Council released its five-year development plan that included many of these same fronts for exploration. As reported by Cointelegraph, the term “blockchain” was used for the first time in China’s 14th five-year plan, a document that outlines the country’s economic goals for the next five years, which runs from 2021 through 2025.Related: Chinese companies embark on a metaverse trademark raceThe metaverse has become an area of interest for many major companies in recent months. In October, Facebook changed its name to Meta in order to bank on the popularity of the term metaverse.Despite the People’s Bank of China’s warning on metaverse and nonfungible tokens in November, over 1,000 Chinese businesses have filed tens of thousands of trademark applications that reference the term. More than 1,360 Chinese businesses have applied for 8,534 trademarks, according to the South China Morning Post.Chinese companies are in the process of developing metaverse technologies, with Baidu, Tencent and Alibaba among those aggressively working on related projects. Last week, Baidu debuted its XiRang metaverse app, which will fully launch in six years.

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Binance to finalize acquisition of Swipe, paving for CEO exit

Binance to finalize acquisition of Swipe, paving for CEO exit

Uverejnil používateľ | dec 30, 2021 |

Binance, the world’s largest cryptocurrency exchange, announced Thursday that it will acquire the remaining outstanding shares of Swipe, a prominent crypto Visa card provider. Users of Binance will be able to spend their coins at over 70 million locations worldwide as a result of the acquisition.On July 6, 2020, Binance initially announced the purchase of a majority stake in Swipe, stating that the new collaboration would help to further advance cryptocurrency adoption by bridging fiat and digital assets. Binance’s acquisition of Swipe will allow it to compete with other retail crypto providers like PayPal and Mastercard that provide similar cryptocurrency-related services.According to the news, Swipe has been identified as Binance’s card program manager and technological platform. Swipe also collaborates with important partners to issue cards in authorized zones and markets. Swipe’s current CEO, Joselito Lizarondo, will step down once the acquisition is finalized, Binance confirmed. Although Binance has been embroiled in regulatory controversy this year, it hasn’t stopped the company from growing its presence through new acquisitions and expanding its services to new markets. More recently, the crypto exchange was approved for an in-principle license by Bahrain’s central bank to operate as a crypto asset service provider, as well as a cryptocurrency financing license in Canada as Binance Canada Capital Market.Related: Binance introduces BNB Auto-Burn to replace quarterly burn protocolIn November, Binance CEO Changpeng Zhao revealed in a conversation with French Minister Cédric O that the exchange is establishing a $115 million initiative to increase blockchain and cryptocurrency technology across France and Europe. The cryptocurrency exchange recently partnered with the World Trade Center in Dubai to help the region develop into a global crypto trading center.

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Mexico confirms plans to roll out CBDCs in 2024

Mexico confirms plans to roll out CBDCs in 2024

Uverejnil používateľ | dec 30, 2021 |

Mexico has announced that it would introduce a new national central bank digital currency (CBDC) in 2024, according to a tweet posted on Thursday. The tweet by an account representing the Mexican presidency highlighted that “new technologies and next-generation payment infrastructure” will help Mexico become more financially inclusive.El @Banxico informa que hacia 2024 tendrá una moneda digital propia en circulación, por considerar de suma importancia estas nuevas tecnologías y la infraestructura de pagos de última generación como opciones de gran valor para avanzar en la inclusión financiera en el país.— Gobierno de México (@GobiernoMX) December 30, 2021The plans for a CBDC follow the recent statement by Mexico’s President Andrés Manuel López Obrador that Mexico is unlikely to follow El Salvador’s footsteps and use cryptocurrencies like Bitcoin (BTC) as legal currency.Related: Bitcoin transactions ‘akin to bartering,’ Bank of Mexico governor saysAt least two lawmakers in Mexico have suggested that the country embrace digital assets to spearhead the “shift to crypto and fintech.” Ricardo Salinas Pliego, a billionaire and one of Mexico’s wealthiest men, has also stated that Banco Azteca would consider accepting cryptocurrencies. In a two-minute festive video, the billionaire recently called on his 957,200 Twitter followers to leave fiat money behind and invest in BTC, asking them to retweet and share the message.Although numerous people in the public and business sectors advocate the use of crypto, authorities in the nation stated in 2020 that cartels were using digital currencies to launder money.With the growing popularity of cryptocurrencies throughout the world, it should come as no surprise that governments worldwide, including Mexico, are considering establishing a CBDC. As reported by Cointelegraph, the Central Bank of Indonesia thinks that digital versions of national currencies could be a valuable weapon to combat the growing adoption of cryptocurrencies.

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SEBI chief warns Indian mutual funds on investing in cryptocurrency offerings

SEBI chief warns Indian mutual funds on investing in cryptocurrency offerings

Uverejnil používateľ | dec 29, 2021 |

The Chairman of the Securities and Exchange Board of India (SEBI) Ajay Tyagi urged mutual funds to avoid investing in crypto-related assets as the government considers new cryptocurrency rules. Speaking at a press conference on Tuesday, Tyagi advised firms to refrain from investing in funds linked to crypto assets until there is clarity on the policy and regulatory framework.“Those who have invested in mutual funds, – in companies related to crypto assets or foreign firms through fund-of-funds (FOF) – my thinking is that till we get clarity on its (crypto’s) policy, businesses should not make such investments,” said the SEBI chairman.While the regulatory environment for cryptocurrency in India is currently murky, the country has already witnessed an exponential rise in its popularity. It’s also unclear if crypto investments come with any tax obligations in the country.Tyagi’s remarks come following the recent event involving an asset management firm (AMC), Invesco Mutual Fund. Despite Sebi’s approval, it delayed its blockchain fund last month owing to legislative uncertainty.There have been talks about cryptocurrency being discussed in Parliament during the winter session recently. The talks gained further momentum following a parliamentary standing committee on finance’s meeting with cryptocurrency stakeholders to identify possible opportunities and challenges that may occur when it comes to crypto financing and investment.Related: Institutional managers hold a record $72.3B of crypto — CoinSharesThe Indian government had formally planned to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, for debate in the parliament during its current winter session. The bill, however, does not appear among the bills that India’s lower house will consider as it concludes the winter session.Meanwhile, Indian Prime Minister Modi has been increasingly vocal regarding cryptocurrencies in 2021. During the recent Sydney Dialogue, Modi urged democratic nations to collaborate in order to make the most of cryptocurrencies and blockchain technology. He also warned against their malicious use.

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