December 5, 2020

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Shortly from the Cryptoworld 12/02

2 min read
Shortly from the Cryptoworld 12/02

 

In Germany, 40 banks are interested in trading in cryptocurrencies

 

Several German banks want a permission from regulators to offer digital assets trading services to their customers. This is because the new legislation allowed banks to extend their offers beyond traditional securities such as stocks and bonds by the Bitcoin (BTC), Ether (ETH) and XRP cryptocurrencies.

 

However, anyone interested in trading in cryptocurrencies must register their interest with the regulator by the end of March at the latest. The volume of applications reportedly exceeded the expectations of the Ministry of Finance and there are currently forty banks and companies interested in this expansion.

 

The Italian securities regulator shut down six foreign exchange websites and two sites for investing in cryptocurrencies

 

The Italian securities regulator shut down six foreign exchange websites and two sites for investing in cryptocurrencies. The Commission has accused these 8 sites of infringing for the provision of illegal business products and services. The aim was to protect investors, therefore the Italian authorities introduced cryptocurrency regulation on the domestic market.

 

The law states that any transaction involving the exchange of cryptocurrencies for fiat should not be taxable, but the profits and losses from these transactions should. The Italian Senate Committee on Corporate Affairs also dealt with legislation. It aims to create an instruction to regulate all financial and IT firms to regulate their financial transactions through electronic means.

 

JPMorgan reportedly discusses merging its blockchain with ConsenSys

 

JPMorgan, a banking giant, is said to have engaged in a discussion on the merger of the Quorum blockchain, where JPM Coin exists, with Ethereum ConsenSys. The agreement could be formally notified in the coming months. A spokesman for JPMorgan refused to provide any information.

 

Cred clients can lock their Litecoins (LTC) for interest

 

The Litecoin Foundation behind the development of the Litecoin cryptocurrency (LTC) has partnered with Cred. A press release published on February 10 states that Cred credit card clients can earn up to 10% annual appreciation if their LTCs are locked.

 

Bitcoin will approach to be a digital gold, Coinbase claims

 

Given the upcoming May halving, which will reduce new Bitcoin emissions by half from the current 12.5 BTCs per block to just 6.25 BTCs (roughly every ten minutes), the US cryptocurrency exchange Coinbase published a study showing how Bitcoin gradually progresses turning into digital gold.

 

Shortly from the Cryptoworld 12/02

 

[crypto coins=”BTC,LTC,ETH,XRP” columns=”2″]

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