Category: Bitcoin

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El Salvador’s ‘Volcano Bond’ Gets Regulatory Approval, Aims to Launch Early Next Year

El Salvador’s innovative Bitcoin (BTC) “Volcano Bonds” have received regulatory approval and are scheduled to be launched to the public in the first quarter of next year.

El Salvador’s National Bitcoin Office (ONBTC) says the country’s Digital Assets Commission (CNAD) approved the bonds after nearly two years of delays.

El Salvador’s pro-crypto president, Nayib Bukele, first announced in November 2021 that the Central American country would issue the bonds.

They were originally expected to launch in early 2022, but Bukele delayed them indefinitely when the BTC price fell.

The Bitcoin bonds, the first of their kind in the world, will be traded on Bitfinex Securities, according to ONBTC.

It’s not the only recent Bitcoin news for El Salvador: last week, the country launched a new “Freedom Visa Program” for high-net-worth individuals willing to shell out $1 million in BTC or USDT for a passport.

Bukele has long been a supporter of Bitcoin. El Salvador has more than $130 million in BTC, and the main crypto asset is recognized as legal tender in the country.

The president also says the country has “no intention of selling” its Bitcoin, despite BTC’s price surge this year.
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Kucoin Agrees to Ban New York Residents, Pay $22 Million in Settlement

New York Kucoin users will lose the ability to trade within 30 days and their accounts will be closed within 120 days.

Cryptocurrency exchange Kucoin has agreed to pay $22 million to the state of New York and ban state residents from using its platform, according to a stipulation and consent order filed with the New York Supreme Court on Dec. 12.

New York”.

Kucoin has agreed to terminate the accounts of all users residing in New York within 120 days and prevent New York residents from obtaining accounts in the future. Additionally, it will restrict access to withdrawals within 30 days only, leaving the remaining 90 days available for users to withdraw funds.
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Robinhood Launches Cryptocurrency Trading in EU, Aims for Global Accessibility

Financial services company Robinhood has announced the launch of cryptocurrency trading in the European Union. “Just like we did with the stock market, our goal is to make cryptocurrencies more accessible and affordable for everyone, regardless of where they live,” the company explained.

Robinhood Expands Cryptocurrency Trading Services

Financial services company Robinhood launched its cryptocurrency trading platform in the European Union on Thursday, offering investors the ability to buy and sell more than 25 cryptocurrencies. Ad details:

   Today we launched the Robinhood Crypto app for all eligible customers in the European Union (EU).

EU residents over the age of 18 with compatible iOS and Android devices can now access Robinhood Crypto, the company clarified. The announcement details further: “Support for additional tokens, crypto transfers, crypto staking, crypto learning rewards, and more is expected to launch in 2024.”

Johann Kerbrat, CEO of Robinhood Crypto, commented: “We believe that cryptocurrencies are the financial framework of tomorrow and that they play an important role in our mission to democratize finance for all… The EU has developed one of the most comprehensive policies in the world for cryptocurrencies. asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”

Robinhood explained that as a publicly traded American company, it is regularly reviewed by third-party auditors and Robinhood Crypto has taken a conservative approach to supporting digital assets.

The platform’s trading volumes in stocks, options and cryptocurrencies increased in October compared to the previous month, according to data published in November. Stock trading volume increased 15% to $50.8 billion, options contracts traded increased 11% to $96.6 million, and cryptocurrency trading volume soared 92% to $2 .3 billion.
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Taiwan’s Central Bank concludes CBDC’s wholesale study

A Central Bank employee spoke about CBDC’s ongoing investigation and other Modernization of Payments that Taiwan is exploring.

Taiwan’s Central Bank completed a feasibility study of the Central Bank’s digital currency (CBDC) and continues to consider its introduction. The Central Bank is looking for business and academics comments and will continue to work on the design of the platform, said deputy governor Mei-Lie Chu on December 7.

In a long speech at an event for bankers, Chu described what Banking 4.0 called, or “Integrated Services in Customer’s Daily Life,” including Artificial Intelligence Integration and Bank’s Advanced Mobile and Digital Technology. She dedicated approximately half of her presentation to the CBDC.

Chu referred to the bank to investigate international settlements and said he saw the advantages of the CBDC and the real -world assets signal.
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Phoenix closes $380 million deal with WhatsMiner to mine green Bitcoin

Phoenix Group is acquiring hydrocooling mining equipment from WhatsMiner worth more than US$136 million, with an option to purchase an additional US$246 million.

UAE company Phoenix Group has revealed a new purchase of hardware equipment from WhatsMiner, with the aim of expanding its portfolio of hydraulic cooling rigs. According to a Dec. 7 announcement, the $380 million deal represents WhatsMiner’s largest order in two years.

Under the agreement, Phoenix received mining equipment valued at US$136 million, with an additional option available worth US$246 million. WhatsMiner’s line of hydrocooling equipment launched in 2022, with current prices ranging from $1,008 to $2,484, according to the company’s website.

WhatsMiner’s hydrocooling hardware uses a closed-loop water system, preserving the volume and quality of water within the pipes. According to the company, the system offers more efficient heat transfer, as water is a more effective heat conductor than air or oil. The benefits of this system include reduced operating costs and minimized environmental impact, the company claims.
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