Oki Matsumoto, CEO of Japanese financial giant Monex, has welcomed the Bank of Japan’s recent interest in central bank digital currencies.

At the beginning of autumn, the Bank of Japan announced that it would test a proof of concept for a digital central bank currency in 2021

Since then, more details have emerged about the institution’s development plans and collaboration. There is some evidence that the private sector will play a major role , at least in the testing phase .

This morning , Reuters reported that the CEO of Japanese financial services giant Monex Inc. welcomed the central bank’s more proactive stance on central bank digital currencies (CBDCs).

CEO Oki Matsumoto argued that any step towards the introduction of a CBDC would be positive for digitizing the Japanese economy and making it more efficient. In addition, Matsumoto believes it is also beneficial to the digital currency sector outside of the banking sector:

“CBDCs will greatly improve the interoperability of cryptocurrencies. It would make the cryptocurrency market more vibrant.”

For Matsumoto, the fact that many smaller crypto stockbrokers do not have bank accounts is a limit and an obstacle for traders looking to convert their crypto assets into fiat money. According to him, a CBDC in Japan would enable a smoother conversion between crypto and legal offers within a “digital-friendly” platform.

Monex Inc. took over the Japanese crypto exchange Coincheck in the spring of 2018, shortly after the platform was hacked. Over $ 500 million was stolen.

Monex remains active in the digital assets space and last year applied for membership in the Libra Association , the lead consortium for Facebook’s planned global stablecoin.

Press release – As of today LiteBit is officially registered at De Nederlandsche Bank (DNB). The Rotterdam broker is one of the first cryptoparties to meet the requirements of the regulator DNB.

In April it was announced that crypto parties will from now on be supervised by DNB and will have to register. LiteBit, which was recently voted best crypto broker for the second year in a row, is proud of its registration and supports the new developments that make the market more transparent.

With this registration in the Netherlands, LiteBit proves that it takes security seriously for its users and the sector in general. The new legislation and regulations, which were adopted by the Senate on 21 April, oblige crypto parties to be transparent and open towards the regulator DNB. In this way, money laundering and the financing of terrorism must be prevented.

Important milestone

The legislative change is a positive development, says Olivier van Duijn, CEO at LiteBit: “This is an important milestone for the crypto sector, but especially for all crypto traders in the Netherlands. The supervision of DNB ensures that only serious players remain.

With the obligation to register, the crypto bank market in the Netherlands is taking a big step towards maturity. We are extremely proud to be one of the first parties to meet the requirements of De Nederlandsche Bank”.

LiteBit has the ambition to become the largest in Europe. In addition to a registration in the Netherlands, the cryptoparties are therefore also working on registrations in Germany, France and Austria, among others.

Years of preparatory work

In recent years LiteBit has invested heavily in trust and security, and before it became known that cryptoparties would be supervised by DNB, there was already policy in place to prevent money laundering and terrorist financing.

The registration and requirements therefore fit in well with LiteBit’s core strategy, says Van Duijn.

“The expectation is that regulation will lift the entire market to a higher level.

It exudes professionalism and maturity. With our registration we underline that crypto trading is safe with us. That can be just that little push that someone needs to start trading as well. We expect many consumers to invest in crypto”.

OLIVIER VAN DUIJN

LiteBit is also working on registrations in other European countries.

About LiteBit

LiteBit is the platform where trading in crypto is safe, simple and personal. Our aim is to be the most customer friendly and reliable platform in Europe. LiteBit supports investors in buying, selling and managing crypto, such as Bitcoin, Ethereum and +50 other coins.

The Customer Support team is available day and night for LiteBit’s many users and potential new customers. LiteBit has been able to call itself the best crypto broker in the Netherlands for two years in a row.

Disclaimer: 2525 Ventures B.V., trading under the name LiteBit, has registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB supervises 2525 Ventures B.V.’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 197.

2525 Ventures B.V. is not subject to prudential supervision by DNB or to conduct supervision by the AFM. This means that there is no supervision of financial requirements or business risks and there is no specific financial consumer protection.

• Las cosas se ven muy emocionantes para la principal criptografía de hoy después de que se acercó a 18.500 dólares de la noche a la mañana.
• Sin embargo, justo después de que alcanzara tal hito, tuvo una caída repentina, ya que se registraron grandes pedidos de venta en plataformas de venta al contado y de futuros.

Las cosas se ven muy emocionantes para la principal criptodivisa hoy, después de que se acercó a 18.500 dólares de la noche a la mañana. Sin embargo, justo después de que alcanzara tal hito, tuvo una caída repentina, ya que se registraron grandes pedidos de venta en las plataformas de venta al contado y de futuros.

Después de que la moneda del Rey haya tenido tal hito, parece que podría estar en camino de alcanzar los 20.000 dólares a finales de 2020.

Esto sería un gran logro para la moneda y la industria, ya que sería la primera vez que alcanza un nivel tan alto.

A medida que la capitalización del mercado aumenta para la moneda líder, supera a una masiva compañía conglomerada americana, Nvidia. Uno de los más conocidos fabricantes de tarjetas gráficas del mundo ha sido superado por el Rey Moneda después de haber sido capaz de cruzar el nivel de resistencia de 18.000 dólares Key.

Mucha gente piensa ahora que bitcoin up ha vuelto a su estado alcista y algunos analistas dicen que la moneda todavía tiene tiempo de probarse a sí misma aún más obteniendo 20.000 dólares o incluso cruzando esa línea.

En el transcurso de este año, bitcoin ha estado funcionando muy bien a pesar de la pandemia de coronavirus y la confusión económica que se produjo. Las consultas de búsqueda en Google han ido incluso en aumento, con más ojos dirigidos a la industria.

Compañías como Grayscale poseen el 3% de la oferta total de bitcoin ya que la inversión institucional también está en alza.

Para más noticias sobre esta y otras actualizaciones de Crypto, ¡manténganse en CryptoDaily!

BitPay Send allows companies to send crypto payments around the world without having to hold any digital assets in first person.

BitPay, a company providing crypto payment services, has launched BitPay Send, a new blockchain payment platform for businesses.

BitPay Send allows companies that do not want to directly manage or own cryptos to send payments with digital assets, whether they are pay slips, payments to contractors or partners and even cashback and reward programs for customers. Available in 225 countries, all recipients must have a “Know Your Customer” procedure and own a wallet.

BitPay claims that the platform reduces transaction Profit Revolution processing time from days to minutes.

The service has already been adopted by the AdGate Media advertising platform to pay its partners worldwide. AdGate’s president, Dan Sapozhnikov, explained that many of their partners are located outside of North America and Europe, in regions where access to bank accounts can be difficult, so they want to “get paid in Bitcoin”. But he said that the company “did not want to buy and hold crypto”:

“The risk management part is borne by BitPay: this was an important factor in our choice of BitPay Send. With this system we are able to pay our partners in a few minutes and not days”.
BitPay’s CEO, Stephen Pair, said that the ease with which global transactions are made in cryptocurrency is very interesting for companies:

“Traditional international payment methods are inconvenient, expensive and slow. With BitPay Send, companies can make payments without having to buy, own or manage cryptos, and recipients receive payments faster and at a lower cost”.
BitPay is a US-based company launched in 2011. It processed nearly 100,000 transactions per month in 2020, most of them in Bitcoin (BTC). The company has received funding from several investment funds including Founders Fund, Virgin Group, Index Ventures and Aquiline Technology Growth, raising more than $70 million in funding.

The plans of the European Central Bank (ECB) for a digital euro are gradually taking shape. Christine Lagarde confirmed that the starting signal would be given next January, if the institution concludes that the issuance of a central bank digital currency (MNBC) is necessary.

ECB to decide on digital euro launch in January

The European Central Bank (ECB) launched a public consultation on the digital euro at the end of last October. The institution was sometimes evasive about an Immediate Edge, but we still note an evolution of the language of the President of the ECB.

Christine Lagarde has indeed explained that the decision to start developing a digital euro would be taken in January 2021, during an online forum . She also clarified that the European Central Bank did not want to ” race to be first” … While unofficially confirming that the launch of an MNBC is very likely:

“We will make a decision on whether we will move forward on the digital euro. […] My feeling – but it’s a decision that will be taken collectively – is that we could very well go in that direction . “

Two to four years of development

Cautious as always, the ECB insists, however, that this project will take time. Lagarde has indeed confirmed that the project will take two to four years of development before a functional digital euro is launched. It also drew a parallel with the Chinese digital yuan, which appears to be on the verge of being issued, but of which little is known yet, information arriving in dribbles.

What is certain is that the digital euro seems to be well on its way to being developed by the ECB. The development time will be long, much longer than for public cryptocurrencies. Will this give the latter a chance to establish themselves as a real alternative ? The years to come we will say it.

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KuCoin looks to the future – Despite a security incident on September 25, the KuCoin platform quickly got back on its feet. In addition to gradually reactivating its services to become fully operational again, KuCoin continues to evolve and diversify its offer.

This article is promotional content written for KuCoin.

Security problem: ancient history

Although hackers managed to embezzle the equivalent of $ 281 million in cryptocurrency at the end of September, Bitcoin Code appears to have fully recovered from its injuries.

Over $ 204 million of its crypto-assets have been saved and recovered . In addition, the platform has maintained a constant effort to bring its services back online, in particular access to withdrawals .

The vast majority of cryptocurrencies on KuCoin are thus fully available , with in particular the return of withdrawals on Cosmos (ATOM), Chainlink (LINK), PIVX or Ethereum Classic (ETC) projects over the past few days.

The availability of Bitcoin (BTC), Ethereum (ETH) and other major altcoins had already been reactivated, as early as the first two weeks after the security incident.

Application update and new trading options

KuCoin is therefore going ahead and announcing several new features . One of the latest is the 3.20.1 update of its mobile application (compatible on Android and iOS).

This improvement brings in particular the option of conversion into KCS (KuCoin Shares), which allows you to quickly convert the small “dust” of cryptos from your account into the native token of the platform. These allow, among other things, to reduce trading costs.

In addition, the application now facilitates the rapid transfer of its crypto between the different interfaces KuCoin: spot trading, staking (with service Pool-X ), margin trading and futures contracts ( futures ), …

Futures trading is also experiencing a mini revolution. KuCoin has just added Litecoin (LTC), Cardano (ADA), and XRP projects to its offering. It will thus be possible to trade these futures against the USDT stablecoin, with leverage ranging from x1 to x50 .

Be careful, however, it is always good to remember that the use of leverage should be used in moderation. Too large a multiplier can mean express liquidation.