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Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n

Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n

Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n

Previous 1 2 3 4 5 … 13 Next

Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n

Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

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\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

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\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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October 1, 2024

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December 23, 2024

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Follow The Distributed

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\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

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Type your email here

Follow The Distributed

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\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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November 24, 2024

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Artificial Intelligence

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November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

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\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

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\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

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November 24, 2024

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December 23, 2024

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Follow The Distributed

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\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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November 24, 2024

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Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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December 23, 2024

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Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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December 23, 2024

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Follow The Distributed

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\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

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November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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November 24, 2024

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December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

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November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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Follow The Distributed

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\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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PayPal Expands Cryptocurrency Services To U.S. Businesses

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December 23, 2024

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\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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November 24, 2024

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November 24, 2024

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December 23, 2024

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\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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Follow The Distributed

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\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n***
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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December 23, 2024

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\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

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December 23, 2024

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Follow The Distributed

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\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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PayPal Expands Cryptocurrency Services To U.S. Businesses

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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December 23, 2024

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\n
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/em><\/strong>Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

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December 23, 2024

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\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

Most Read

Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

October 1, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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PayPal Expands Cryptocurrency Services To U.S. Businesses

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\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Previous 1 2 3 4 5 … 13 Next

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Adoption

PayPal Expands Cryptocurrency Services To U.S. Businesses

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Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Banking

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Artificial Intelligence

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Banking

Major Australian Banks Collaborate To Launch Anti-Scam Network

December 23, 2024

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Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n
In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n
\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n
In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n
Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n
\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n
In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n
See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n
Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n
In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n
PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n
Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n
<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n
State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n
\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n
Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n*
Bead Pay Role<\/h2>\n\n\n\n
Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n
The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n
The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18602,"post_author":"21","post_date":"2024-09-14 01:23:06","post_date_gmt":"2024-09-13 15:23:06","post_content":"\n
\n
Tokocrypto will be the third exchange to receive the PFAK in Indonesia.<\/li>\n\n\n\n
Binance will support Tokocrypto in Web 3.0 expansion in Indonesia.<\/li>\n<\/ul>\n\n\n\n
Binance has announced<\/a> that Indonesia's crypto subsidiary, Tokocrypto, has been granted a Physical Crypto Asset Trader (PFAK) license. The license, granted by the Commodity Futures Trading Regulatory Agency (Bappebti), will make Tokocrypto the third digital assets exchange to secure a major license in the country.<\/p>\n\n\n\n
Tokocrypto CEO Yudhono Rawis lauded the PFAK license as an important milestone in becoming Indonesia\u2019s leading digital asset platform. He remarked:<\/p>\n\n\n\n
\u201cWe are proud of this achievement to become the third exchange to receive a PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.\u201d<\/em><\/p>\n\n\n\n
*See Related: <\/em><\/strong>**Indonesia Will Have Its Own Practical Crypto Exchange In 2023<\/a><\/p>\n\n\n\n*
Binance To Support Tokocrypto In Web 3.0 Expansion<\/h2>\n\n\n\n
Binance CEO Richard Teng commented on the licensing, saying the exchange will support Tokocrypto in Indonesia\u2019s Web 3.0 expansion. Teng said the licensing reinforces Tokocrypto\u2019s dedication to regulatory excellence and a transparent crypto ecosystem<\/a> in the country.\u00a0<\/p>\n\n\n\n
Further, Binance said that Tokocrypto\u2019s PFAK license strengthens investor trust and confidence in its crypto-asset trading services.\u00a0<\/p>\n\n\n\n
The license is a major win for Binance, which acquired Tokocrypto in 2020. Tokocrypto said the licensing happens after a rigorous process that started in 2019. The crypto exchange got its first Prospective Physical Crypto Asset Trader (CPFAK) license back then.\u00a0<\/p>\n","post_title":"Binance Scores Major Win As Indonesian Subsidiary Tokocrypto Secures License","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-scores-major-win-as-indonesian-subsidiary-tokocrypto-secures-license","to_ping":"","pinged":"","post_modified":"2024-09-14 01:23:10","post_modified_gmt":"2024-09-13 15:23:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18602","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n
Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n
He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n
Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n
Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n
See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n
Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n
Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n
He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18519,"post_author":"15","post_date":"2024-09-06 20:32:26","post_date_gmt":"2024-09-06 10:32:26","post_content":"\n
Sberbank, Russia's largest bank, plans <\/a>to participate in a pilot program for cryptocurrency settlements this year. This marks a key step in Russia\u2019s efforts to integrate digital currency into its financial system, as part of a broader initiative led by the Central Bank of Russia.<\/p>\n\n\n\n
Anatoly Popov, Sberbank's Deputy Chairman and head of the Corporate and Investment Business Unit, confirmed the bank's involvement in the Central Bank's CBDC pilot program during the Eastern Economic Forum. <\/p>\n\n\n\n
The bank also plans to offer services to its clients using digital rubles by 2025. Deputy Chairman Anatoly Popov backs regulatory initiatives to legalize cryptocurrencies for international payments and mining. He emphasized that cryptocurrencies are efficient payment options, particularly for small businesses.<\/p>\n\n\n\n
The Central Bank of Russia has been testing the digital rouble since December 2021, when it developed a CBDC prototype. Initial trials began in 2022 with 600 individuals and 22 companies, and on September 1, 2024, the experiment expanded to include 9,000 individuals and 1,200 companies. Only 12 banks involved in the trial since August 2023 can access the digital rouble. However, the Central Bank plans to add two dozen more banks in the next phase.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Will Russia Ban Bitcoin? Likely Not; Here's Why...<\/a><\/p>\n\n\n\n
Russia's Positive Stance To Crypto<\/h2>\n\n\n\n
Earlier this month, Russia started its trial for using crypto for cross-border transactions. The main reason for this move is to bypass international sanctions. Sources indicate that the pilot phase will initially target blue-chip companies, with plans to extend to other related and connected businesses later on.<\/p>\n\n\n\n
Last month, Russia officially legalized cryptocurrency mining and trading. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Individual miners will be permitted to mine digital currency without formal registration, provided their energy consumption stays below a specified limit.<\/p>\n\n\n\n
The bill also imposes a ban on mass cryptocurrency advertising within Russia.<\/p>\n","post_title":"Russia's Largest Bank Participates In Central Bank's Cryptocurrency Settlement Pilot","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russias-largest-bank-participates-in-central-banks-cryptocurrency-settlement-pilot","to_ping":"","pinged":"","post_modified":"2024-09-06 20:32:31","post_modified_gmt":"2024-09-06 10:32:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18519","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18443,"post_author":"15","post_date":"2024-09-01 22:29:25","post_date_gmt":"2024-09-01 12:29:25","post_content":"\n
Australia has experienced a 17-fold increase in new crypto ATMs over the past two years. It is now one of the fastest-growing markets for these kiosks globally despite growing concerns about their potential misuse by malicious actors.<\/p>\n\n\n\n
According to Coin ATM Radar data<\/a>, the country now ranks as the world's third-largest market for crypto ATMs with 1,162 machines. The number of crypto ATMs significantly rose from just 67 in August 2022.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
This surge includes the addition of 160 ATMs since the end of April when Australia surpassed 1,000 active machines. According to Coin ATM Radar, the number of these machines in Australia nearly doubled in the last 12 months.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n
Australia holds only a 3% share of the global market. On the other hand, the United States dominates with over 82% of the market and 31,877 ATMs, followed by Canada's 7.8% share with 3,004 machines.<\/p>\n\n\n\n
This rapid growth is likely to attract attention from law enforcement. In March last year, the Australian Federal Police established a multi-agency task force focused on money laundering, acknowledging that some criminals have used crypto ATMs to launder their illicit gains.<\/p>\n\n\n\n
The First Spot Bitcoin ETF In Australia<\/h2>\n\n\n\n
VanEck launched <\/a>the first spot Bitcoin ETF on the Australian Securities Exchange (ASX) last June 20. Bitcoin ETF launch is seen as a key milestone in legitimizing crypto and related ETFs in Australia, following similar approvals in the US.<\/p>\n\n\n\n
Australia's successful launch of the first spot Bitcoin ETF marks a significant achievement in the country's financial landscape, positioning it as a leader in cryptocurrency investment vehicles. The ETF's introduction enhances the legitimacy of crypto assets and sets a precedent for future Bitcoin ETFs in the region.<\/p>\n\n\n\n
This milestone reflects Australia's growing role in the global crypto market, despite the regulatory challenges involved.<\/p>\n","post_title":"Crypto ATM Boom: Australia Now The World\u2019s Third-Largest Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-atm-boom-australia-now-the-worlds-third-largest-market","to_ping":"","pinged":"","post_modified":"2024-09-01 22:29:28","post_modified_gmt":"2024-09-01 12:29:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18443","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18349,"post_author":"15","post_date":"2024-08-23 23:53:58","post_date_gmt":"2024-08-23 13:53:58","post_content":"\n
El Salvador has introduced a training program for public servants about strategic management and public policies related to Bitcoin. The program, titled \"Certification in Public Administration 1,\" consists of a 160-hour virtual and self-paced course divided into seven modules. Each module covers various concepts, laws, skills, and management practices associated with using Bitcoin as a legal tender.<\/p>\n\n\n\n
The National Bitcoin Office (ONBTC) will be responsible for training and certifying 80,000 government employees in Bitcoin.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/bitcoinofficesv\/status\/1825999325056704903\n<\/div><\/figure>\n\n\n\n
The Bitcoin certification program is managed by the Higher School of Innovation in Public Administration<\/a> (ESIAP), established by President Nayib Bukele in August 2021. According to ONBTC, the curriculum is specifically designed to enhance the standards of governance and public administration in El Salvador.<\/p>\n\n\n\n
See Related:<\/em><\/strong> Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws<\/a><\/p>\n\n\n\n
Argentina: The Next El Salvador<\/h2>\n\n\n\n
El Salvador's success with Bitcoin adoption has attracted the attention of other countries like Argentina. In May, the Argentine government began collaborating with El Salvador to learn from its experience in adopting Bitcoin.<\/p>\n\n\n\n
During a meeting between Argentina\u2019s National Securities Commission (CNV) and El Salvador\u2019s National Commission of Digital Assets (CNAD), CNV President Roberto Silva expressed interest in strengthening ties with El Salvador and exploring the possibility of collaboration agreements. <\/p>\n\n\n\n
Argentina has been actively exploring cryptocurrency regulation and adoption. Earlier this week, they approved Bybit's VASP registration as part of its broader efforts to regulate the crypto market.<\/p>\n","post_title":"El Salvador Launches Bitcoin Training Program for 80,000 Government Employees","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvador-launches-bitcoin-training-program-for-80000-government-employees","to_ping":"","pinged":"","post_modified":"2024-08-23 23:54:07","post_modified_gmt":"2024-08-23 13:54:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18349","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18324,"post_author":"15","post_date":"2024-08-23 02:25:53","post_date_gmt":"2024-08-22 16:25:53","post_content":"\n
The Brazilian Securities and Exchange Commission (CVM) has authorized a second Solana exchange-traded fund (ETF). <\/p>\n\n\n\n
According to its central database,<\/a> the product will be managed by Brazil-based asset manager Hashdex in collaboration with the local investment bank BTG Pactual. This new Solana (SOL) ETF is currently in its pre-operational stage.<\/p>\n\n\n\n
Hashdex is well-established in the ETF market on the B3 Brazilian stock exchange. The company manages over $962 million in assets. On August 8, the CVM approved <\/a>Brazil's first Solana ETF, introduced by QR Asset, another Brazil-based asset manager.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Coinbase Integrates Brazilian Central Bank\u2019s Pix For Crypto Purchases With Brazilian Real<\/a><\/p>\n\n\n\n
U.S. Approval For Solana ETF<\/h2>\n\n\n\n
In June, VanEck and 21Shares applied to launch spot Solana ETFs in the U.S.VanEck\u2019s head of digital assets research, Matthew Sigel, recently stated that U.S. approval would be \u201cinevitable\u201d following Brazil\u2019s first Solana ETF approval. However, there's no clear timeline for when this might happen, and there\u2019s a possible complication.<\/p>\n\n\n\n
The filings for these ETFs were recently removed from the Cboe Global Markets website.VanEck's Matthew Sigel mentioned that the chances of getting a spot Solana ETF approved in the U.S. could depend on the outcome of the 2024 presidential election and whether Gary Gensler remains the SEC chair. The filings were never posted on the U.S. SEC\u2019s website, leading to Cboe pulling them, even though the issuers might still have active S-1 filings.<\/p>\n","post_title":"Brazil Approved Second Solana ETF","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"brazil-approved-second-solana-etf","to_ping":"","pinged":"","post_modified":"2024-08-23 02:25:59","post_modified_gmt":"2024-08-22 16:25:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18324","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18272,"post_author":"1","post_date":"2024-08-19 18:08:25","post_date_gmt":"2024-08-19 08:08:25","post_content":"\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18057,"post_author":"15","post_date":"2024-08-05 00:25:03","post_date_gmt":"2024-08-04 14:25:03","post_content":"\n
Sen. Cynthia Lummis officially introduced <\/a>a bill to the U.S. Senate on Wednesday aimed at creating a national Bitcoin reserve.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
Called the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill seeks to \"supercharge the U.S. dollar and pay down the national debt.\"<\/p>\n\n\n\n
Lummis first announced <\/a>the legislation during the annual Bitcoin conference in Nashville, Tennessee on Saturday.<\/p>\n\n\n\n
If enacted, the Bitcoin Act of 2024 would create a strategic Bitcoin reserve to strengthen America\u2019s financial position globally. Here are the important pointers from the bill:<\/p>\n\n\n\n
\n
Buy 200,000 $BTC per year. Do it for 5 years to have a total of 1 million Bitcoin<\/li>\n\n\n\n
Minimum Holding Period: 20 Years<\/li>\n\n\n\n
These Bitcoin cannot be sold, swapped, auctioned, encumbered or disposed of<\/li>\n\n\n\n
In the 19th year, the Secretary of the Treasury shall recommend whether to continue holding or gradually release a portion of the holdings.<\/li>\n\n\n\n
The Secretary of the Treasury shall not recommend selling over 10% of the holdings within 2 years.<\/li>\n<\/ul>\n\n\n\n
The Act also aims to ensure transparency in how the U.S. Treasury Department manages the 1 million Bitcoin ($65 million) it would acquire.<\/p>\n\n\n\n
See Related: <\/em><\/strong>House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear<\/a><\/p>\n\n\n\n
Donald Trump Promises National Bitcoin Reserve <\/h2>\n\n\n\n
Donald Trump announced <\/a>plans to position the US as a global leader in cryptocurrency by establishing a national Bitcoin \"stockpile\".<\/p>\n\n\n\n
Trump emphasized the necessity of leading the crypto sector, cautioning that failing to do so would enable China to take the forefront. <\/p>\n\n\n\n
Trump's proposal involves forming a crypto presidential advisory council.<\/p>\n","post_title":"U.S. Senator Introduces Bill To Establish National Bitcoin Reserve","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-senator-introduces-bill-to-establish-national-bitcoin-reserve","to_ping":"","pinged":"","post_modified":"2024-08-05 00:25:46","post_modified_gmt":"2024-08-04 14:25:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18057","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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