News

Mexico's Central Bank proposes' Prohibitions' that would forbid the Crypto Money Exchanges'

Mexico's central bank recently proposed new regulations to a fintech law that would "effectively ban currency exchange transactions in the country" if they succeeded in entering into force for crypto money.

According to Coin Center, a nonprofit crypto-money research and law firm, the country's central bank has said that the crypto money exchanges dealing with the fiat currencies in the country have lost access to the local banking system through the new law; it loses access to the local banking system and claims that it does not prohibit exchanges.

As per the group, fintech law had to open up Mexico to innovation, allowing crypto exchanges to operate while helping them to become regulated institutions in the country. The amendments will prevent the financial institutions from offering change transmission or custody services.

The offer, according to the Coin Center, sees crypto currencies as too complex for average users over “mathematical and cryptographic processes ipt under digital assets. As Coin Center puts it, he adds, "the unification of their complexity with their volatility is a problem that needs to be addressed by quarantining consumers from direct contact with crypto."

The Coin Center, referring to the central bank's reasoning, claims that an average person also does not understand how a car works, but that they are not banned throughout the country. Shipping:

Tan The larda protection izin approach to consumers by eliminating regulated exchanges is nothing more than to announce automobile safety standards for automobile manufacturers and allow people to buy cars in the first place and only buses on roads. “

Crypto money advocacy firm also argues that trying to cover up the crypto money exchanges in the country will only force consumers to use exchanges in other countries.

These could be "reasonably arranged by prospective governments" or "rogue operations deliberately fleeing any regulatory jurisdiction". It claims that the central bank's move only pushes Mexican crypto currency enthusiasts into the underground markets.

The Coin Center adds that it is a 60-day period when the public can comment on the offer. The group itself said it was planning to comment on it and said, çalış the others hope to do well and hope to explain why its approach to the central bank would not only be a pioneer among industrialized countries, but would harm consumers it is trying to protect, Gr he said. good.

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Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Real crypto OG's will rally around me.

The real ones that know the truth, and what happened from day 1.

Talk to you guys soon.⏳#FreeTrevon

— Trevon James, Founder of our.glass Crypto (@BitcoinTre) May 28, 2021

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

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Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

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Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

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Source: Cointelegraph