Read today a selection of news from Cool-Mining.com:
- The Australian regulator approved the launch of the fund with a share of assets in bitcoins;
- The Japanese regulator issued a warning to the Azerbaijani crypto exchange CBase;
- Victims of the Dunamiscoins cryptocurrency pyramid petitioned Uganda’s parliament;
- Vodafone Announces Exit from Libra;
- Last year, the volume of transactions in the Litecoin network amounted to more than $ 100 billion.
Australian regulator approved the launch of the fund with a share of assets in bitcoins
The Australian Securities and Investments Commission (ASIC) has granted Raiz the microinvestment application permission to launch a fund to invest in bitcoin.
According to Micky’s publication, Raiz Invest Australia was launched in 2016. ASIC, Australia’s main financial regulator, has provided the company with the opportunity to launch a Bitcoin fund that will open up access to cryptocurrency for thousands of Australian retail investors.
According to sources familiar with the situation, a micro-investment firm managing assets of more than $ 400 million plans to invest only 5% of user funds in BTC, and 95% will be directed to less volatile exchange-traded funds (ETFs).
If everything goes according to plan, Raiz will be the first Australian investment platform to launch a fund for partial Bitcoin investments. Raiz Invest Australia gives users the opportunity to instantly invest their funds in various investment instruments, including stocks. Now the application has about 300,000 active users.
Australia remains one of the jurisdictions that holds a liberal position regarding bitcoin and other cryptocurrencies. In 2017, the Australian government clarified the legal status of cryptocurrencies and stated that all digital assets on the blockchain are considered property and are subject to capital gains tax.
Japanese regulator issued warning to Azerbaijani crypto exchange CBase
Japan Financial Services Agency (FSA), a leading regulator of the country’s financial sector, issued a warning to the Azerbaijani crypto company CBase Fintech Lab LLC.
According to the notice, a large number of Japanese residents are clients of the CBase CROSS exchange exchange service, however, the company operates in the country without registration, which is a violation of the current regulatory regime.
In addition to CBase itself, the notice contains the name of its legal representative and President Namig Alasgarov. As follows from the document, the exchange is registered in Baku. What measures can be taken to prevent further violations by CBase were not reported to the FSA.
According to Coinmarketcap, the CROSS exchange trading volume for the last day amounted to about $ 7 million. The platform, however, uses the practice of mining through transactions, which can have a significant impact on the value of the displayed volumes.
In March 2018, the FSA issued a similar warning to the Binance Exchange.
Earlier this month, the FSA came up with a proposal to limit the leverage on margin trading in cryptocurrencies to twice the size of the user’s deposit.
Dunamiscoins cryptocurrency pyramid victims petition Uganda Parliament
More than 5,000 Ugandan citizens filed a petition with the country’s parliament, as they became victims of a scam from the cryptocurrency company Dunamiscoins Resource Ltd.
According to a KMA Updates report, more than 5,000 defrauded investors from Uganda filed a petition for assistance in recovering funds invested in Dunamiscoins, which closed in December 2019. A fraudulent cryptocurrency company has positioned itself as a private organization and stated that it intends to provide free cryptocurrency services to banks in order to help the poor.
At the end of 2019, Dunamiscoins bank account was frozen. Deceived investors claim that the company has about $ 6.2 million owned by customers. Investor Arthur Asiimwe, head of the Dunamiscoins victims group, spoke to MPs and said:
“The government licensed this company and gave it permission to work as a financial institution that does not accept deposits. However, it operated as a microfinance company and also offered unrealistic returns for investors. ”
While two of the company’s three directors have already been arrested, Susan Awoni, managing director of the company, remains at large. Asimwe also stated:
“We are not happy that the police failed to arrest the third director. “We ask the Financial Intelligence Agency to facilitate the investigation of this case and find out where the funds of investors are to be returned to us.”
The Dunamiscoins cryptocurrency pyramid closed in December, just a month after launch. The project promised investors at least 40% profit.
Vodafone Announces Exit from Libra Association
British telecommunications conglomerate Vodafone became the eighth company to announce its withdrawal from Libra.
The company decided to direct the resources that it was planned to use to participate in the development of the Libra stablecoin to the development of its own digital payment service M-Pesa. Now the service works in six African countries, but thanks to new resources it will be available to users of other countries.
Representatives of Vodafone emphasized that the withdrawal from the Libra association is not connected with pressure from regulators or with any political motives. The company management considered that the development of the M-Pesa service would be more effective in providing financial services to the poorest countries in the world.
“From the very beginning, we said that the main goal of Vodafone is to make a real contribution to expanding financial accessibility. We continue to be committed to this goal, ”said the representative of the telecommunications giant.
According to the head of the department of politics and public relations of the Libra Association, Dante Disparte, there is nothing to worry about changing the membership of the organization. Libra’s management structure ensures that the payment system remains stable.
“We will continue to monitor the development of the Libra project and do not exclude possible cooperation with Facebook in the future,” the representative of Vodafone emphasized.
Over the past year, the volume of transactions in the Litecoin network amounted to more than $ 100 billion
According to the BitinfoCaharts service, in 2019 in the lightcoin network (LTC) the total volume of transactions exceeded $ 100 billion. However, when compared with the figures for 2018, this amount is still much lower.
In the first half of 2019, the daily amount of transactions was $ 200-300 million. Transactional activity grew rapidly as the so-called August halving approached (a reduction in the reward of miners).
In quantitative terms, per day, LTC network users performed about 21,000 operations. In the second half of last year, the lightcoin hash rate began to weaken rapidly. Already in early November, it collapsed by 60%.
At the same time, a drop in the value of altcoin was observed. In mid-December, the lightcoin rate fell to $ 37, these days the cryptocurrency capitalization was about $ 2.541 billion.
Growth resumed in January 2020 along with bitcoin. The price of lightcoin on January 22 is at $ 58 with a capitalization of just over $ 3.7 billion.
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