WOW ITS MONDAY!

Mondays are money days,
Mondays are busy days,
Welcome to a new week fulfilled with great expectations,
May this new week be a success to you all,
May you achieve all your goals this week,
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Do have a beautiful week ahead!

NEWS UPDATE

New Crypto Exchanges Open in Korea, Thailand, Vietnam, and the Philippines

The number of new cryptocurrency exchanges is quickly growing worldwide. This new crypto exchange roundup features four platforms situated in South Korea, Thailand, Vietnam and the Philippines.

South Korean game developer Axia Soft Co. Ltd. has currently launched a crypto exchange called Coinbit. For its grand opening, the exchange is giving zero commission trades until the end of May.

Coinbit says 50 cryptocurrencies will be listed first and more than 100 coins will be listed by the end of the year. Among supported cryptocurrencies are bitcoin, ether, ripple, bitcoin cash, ethereum classic, litecoin, waves, stox, eos, vechain, omisego, qtum, and neo.

Cryptocurrency exchange Jibex has currently opened its doors in Thailand. The exchange is backed by IT company J.I.B. Computer Group Co. Ltd, a distributor and seller of computer hardware and IT trading products with 150 stores nationwide.

At first, only five cryptocurrencies will be supported: bitcoin, bitcoin cash, ether, litecoin, and ripple. More will be added in the future, according to Jibex CEO Thuntee Sukchotrat. The exchange also give a wallet supporting those five cryptocurrencies.

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NEWS UPDATE

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies

Social trading platform Etoro is expanding into the US. Pre-registration has already begun. At first, 10 cryptocurrencies will be presented, but the company plans to add more during the whole of the year. The company’s crypto business has boomed in current years, with 70% of its users reportedly trading cryptocurrencies

Social investment platform Etoro has made known that it is expanding into the US market. CEO Yoni Assia  reveal the company’s plans at the Consensus conference on Tuesday. According to the proclamation.

Launched in 2007, Etoro is regulated in Europe by Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority. The company says it has more than 10 million registered users across 140 countries in Europe, Asia, and Australia, with an accumulated capital funding of more than $162 million. Recently, its website shows 247,387,974 open trades on the platform.

Assia commented, “Etoro will carry on to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community.”

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NEWS UPDATE


Cryptocurrencies to be Called “Digital Money” in Russia, Tokens – “Digital Rights”

Russia’s Prime Minister Dmitry Medvedev has shed some light on the advancement authorities are making towards adopting the long-awaited crypto regulations. Legislators will replace common words like “cryptocurrencies” and “tokens” with legal terms such as “digital money” and “digital rights”, he disclose. Two draft laws have been filed in the Duma. One of the bills is scheduled for first reading next week.
The work on the Russian crypto regulations has been going on for some time, with uncertain questions and disagreements between institutions postponing their adoption. Two pieces of legislation have been filed in the State Duma, the lower house of Russia’s parliament – a bill defining crypto activities like initial coin offerings and mining, and a draft law amending the Russian civil code to regulate crypto transactions. According to Parlamentskaya Gazeta, the law legalizing token sales has been certified by the Financial Market Committee and will hit the House floor on May 22.

Words like “cryptocurrency” and its derivatives have gained  recognition beyond crypto communities, yet authorities around the world tend to avoid them. Russian officials are no exception. According to comments made by Prime Minister Dmitry Medvedev, the new Russian legislation on “digital financial assets” will not use the colloquial terms either, RIA Novosti and RBC reported. In a speech during the plenary session of the St. Petersburg International Legal Forum he said.

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Lovely Evening to you all!

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GOOD MORNING NAIRALAND USERS!

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NEWS UPDATE

Cryptocurrency is Property in Russia, Justice Minister Confirms

The Russian Ministry of Justice has taken side in what looks like a lively debate about the status of cryptocurrencies that are still unregulated in the country. A bankruptcy case involving a modest amount of bitcoin has raised discussions in Russian legal circles. Some say a crypto is nothing more than “a set of characters.” Others, including the justice minister, are categorical – cryptocurrency can’t be anything else but property.

Cryptocurrency falls under the legal category of “other property,” Russia’s Justice Minister Alexander Konovalov told reporters this week. With two draft laws on the issue still pending in the State Duma, he also noted that digital coins should not be considered electronic money, at least on this stage.

A bankruptcy case involving some bitcoin holdings has currently stirred the Russian legal community, which was challenged to make available a provisional answer to the question about the status of cryptocurrencies. In the absence of firm definitions in the recent legislation, this question split Russian legal experts in two camps. On one side are those who think that cryptocurrencies have real value, on the other – their colleagues who believe they don’t, if the law doesn’t specifically say so.

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NEWS UPDATE

Sleeping in His Car and Working Two Jobs: Man Goes All In on Crypto

If you had one lucky chance to grab everything you ever wanted, would you capture it or just let it slip? So convinced is one man that cryptocurrency is the future, he’s given up his apartment and is living in his car while putting every spare cent towards his crypto portfolio.

Last year, as bitcoin mania escalated, stories began to surface of men mortgaging their homes and going all in on crypto. But it’s not just homeowners that have given up everything in the pursuit of crypto glory: one man has forsaken his apartment in favor of living out of his car. It’s a life choice that even the most ardent of bitcoin maximalists would deem too much, but then crypto has a tendency to attract extremists possessed with a strong zeal.

The Canadian man, posting under the handle “Livinginmycar”, shared his sleeping arrangements on 4chan’s biz message board, where crypto traders assemble to shitpost and share portfolios. Some commenters were supportive of his cause, while others were less concerned.

The man explains that he parks his car in his friend’s garage to sleep, for which he pays $40 CAD per month. In spite of the cramped conditions, he hasn’t forgone all home comforts, finding space to squeeze in a memory foam mattress and comfy quilts. He’s also able to shower at a friend’s house and store some items there. As for his crypto portfolio, the unnamed Canadian is recently pinning his hopes on Collosusxt, Fundrequest, Policypal, and Dero.

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NEWS UPDATE

Bank in Argentina Launches BTC Settlement Services

A small bank from Argentina, Banco Masventas, made known this week that it’s allowing customers to make settlements using BTC as a payment rail. Argentina Banco Masventas says the company partnered with the exchange Bitex, and believes the service will decrease costs associated with international transfers.

On Monday, May 21 the Latin American exchange Bitex and the small financial institution Banco Masventas made known a partnership which will provide the bank with a new cryptocurrency settlement service now offered to its customers. The bank has been a financial entity situated in the heart of Argentina for years offering banking solutions to individuals and businesses mainly in the Provinces of Salta. According to Banco Masventas Facebook and Medium proclamation, it will be the first bank to offer settlement services using BTC.

“The service allows you to less costs associated with international transfers as there are no international banks as intermediaries,” explains the Bitex and Banco Masventas proclamation.

Argentina government officials are very friendly towards public cryptocurrencies like BTC unlike neighboring countries such as Ecuador. Currently the Central Bank of the Argentine Republic (BCRA) allowed the installation of Bitcoin Automatic Teller Machines (BTMs) in the country and residents may see an influx of BTMs this year. Further last December Tim Draper told the Argentine President Mauricio Marci he should invest in cryptocurrencies. Digital asset proponents think the Argentina-based Banco Masventas creating cryptocurrency services will prompt other Latin American banks to follow the company’s lead.

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NEWS UPDATE

2 Million Revolut Customers Get More Cryptocurrency Access

In the heady days of 2017, Revolut Ltd promised it would continue to add cryptocurrency selection for its customer base. The future promise was made after its rollout of onboarding bitcoin core (BTC), litecoin (LTC), and ether (ETH) to eager users. Just this week, the England-based company made good by further adding bitcoin cash (BCH) and ripple (XRP).

In a series of questions and answers format for their odd press release this week, the company asked itself “Why did you only add XRP and BCH?” The answer was “Simple – these were the two well known cryptocurrencies our community wanted, so we rolled up our sleeves and made it happen.” They went on to stress how they’re looking to do even more crypto-related service in the future, asking customers “make some noise and let us know what you want us to add next. We’ll take care of the rest.”

London’s Revolut kept its promise. Following eager expectation of its initial embrace of three cryptocurrencies (BTC, ETH, LTC), and successful exercise, the skyrocketing financial technology company made known this week it is now implementing bitcoin cash (BCH) and ripple (XRP) to its basket of cryptos.

The three year old digital bank has a well known prepaid debit card, peer-to-peer payments platform, and both currency and cryptocurrency exchanges for its two million customers. To stay competitive, Revolut operates a loss leader fee structure for many of its services (free). Its proprietary application allows fiat-to-crypto in over two dozen government currencies, serving over 100 countries worldwide. The company’s backend transactions are managed by crypto exchange heavy Bitstamp.

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NEWS UPDATE

Prague Subway System Now Has Ten New Bitcoin ATMs

One of the best Bitcoin ATM manufacturers in the world, General Bytes, has currently installed ten new cryptocurrency ATMs throughout the Prague subway in the Czech Republic. Now commuters riding the Prague Metro can buy digital assets at different locations spread out across the fifth busiest metro system in Europe.

The Czech Republic-based firm General Bytes has disclose the installation of ten new cryptocurrency ATMs spread out across the Prague Metro. The subway gets more than 1.6 million people in daily foot traffic and is one of the busiest metro systems in Europe. The General Bytes machines are situated at Můstek, Nádraží Veleslavín, Dejvická, Florenc, Černý Most, Zličín, Pankrác, Flora, Skalka, and Hlavní Nádraží. More so, General Bytes provides a detailed map and description of each location on the website.

The new machines will likely get some use in the area as Prague is considered a booming cryptocurrency hub, as the religion is filled with quite a lot of crypto-enthusiasts. For instance, the area is home to the Crypto Anarchy Institute, Paralelní Polis, and a few cryptocurrency businesses including the ATM manufacturer General Bytes.

The Czech government is relatively friendly towards cryptocurrencies and politicians haven’t regulated virtual currencies or defined them as a currency or commodity like other nation states. However, the subject is being discussed among tax officials and the Czech National Bank wrote a paper last year called “Don’t be Afraid of Bitcoin.” Last year the well known online retailer, Alza, added cryptocurrency payments and installed two Bitcoin ATMs in the company’s showroom. Just three days ago one of the best energy suppliers in the Czech Republic, Pražská Plynárenská, made known it was accepting BTC for payments.

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