Category: Bitcoin

Categories
Bitcoin cryptocurrency exchange Cryptocurrency news

Thailand’s Bank Kasikorn Acquires Majority Stake in Satang Crypto Exchange

Kasikorn Bank, Thailand’s second-largest bank, has reportedly acquired a 97% stake in cryptocurrency exchange Satang. The deal was completed through Unita Capital, a subsidiary of Kasikorn Bank, and involved 3.705 million Thai baht ($102.8 million) worth of shares in Satang’s parent company.

Wu Blockchain highlighted cryptocurrency news in a post on X on Monday, citing CoinDesk.

   Thailand's second-largest bank, Kasikorn Bank, has acquired a 97% stake in the parent company of cryptocurrency exchange Satang. The deal is valued at 3.705 million Thai baht ($102.8 million). K-Bank recently obtained a crypto exchange license and launched a $100 million fund targeted...

Satang Corporation, founded in 2017 and one of Thailand’s leading digital asset exchanges, offers trading in over 45 cryptocurrencies. Details show that the platform’s customer base exceeds one million.

According to a local media report published on Monday, the completion of the deal will see Satang renamed as Orbix, with three subsidiaries, namely: Orbix Custodian, Orbix and Orbix Technology.

Kasikorn, also known as K-Bank, recently received a cryptocurrency exchange operator license and launched a $100 million fund for Web3, fintech and artificial intelligence (AI).

K-Bank’s move sees it join other leading financial giants in Thailand in foraying into the crypto ecosystem. These include Siam Commercial Bank (SCB) and Gulf, a local energy giant that recently partnered with Binance to expand global crypto exchange services in the country.

Categories
Bitcoin cryptocurrency exchange Cryptocurrency news

Kraken will share data from 42,000 users with the IRS

US-based exchange Kraken says it will share the data of 42,000 users with the US Internal Revenue Service (IRS) in compliance with a court order. The information will be sent to the IRS in early November.

On its support page, Kraken specifies that the subpoena to produce “a broad range of records and data” about its US customers and pass them to the IRS came from a court order from the Northern District of California in May 2021. The company opposed this. IRS demands and fought the subpoena in court, convincing it to “substantially reduce” the number of affected customers and the amount of customer data.

The court ordered Kraken to submit profile and transaction data of customers who exceeded $20,000 in transactions during any year between 2016 and 2020. This also includes those who made no transactions but deposits and withdrawals.

Kraken will share data such as name, date of birth, tax identification, address, contact information and transaction history of these customers. There will be about 42,000 accounts whose information will be sent to the IRS.

The US Court of Appeals for the First Circuit is reviewing another case in which the IRS subpoenaed user data from a crypto exchange. In 2018, Coinbase told the 13,000 affected customers that it would provide the IRS with their taxpayer ID, name, date of birth, address, and historical transaction records from 2013-2015.

One such user, James Harper, appealed against the IRS to prevent the US government from having unlimited access to a user’s transaction history. In October 2023, cryptocurrency advocacy group DeFi Education Fund (DEF) filed an amicus brief supporting Harper’s appeal.

Categories
Bitcoin Crypto Mining Cryptocurrency news

Taiwan proposes new bill requiring crypto companies to apply for licenses

Amid the ongoing global revolution in cryptocurrency regulation, Taiwan has proposed a special law to regulate digital assets. The proposed law will require all cryptocurrency platforms in Taiwan to apply for a license.

According to the official announcement, the Crypto Bill had its first reading today, October 27, in Taiwan’s parliament, the Legislative Yuan.

Taiwan takes steps to establish cryptoasset regulatory framework

Although the new law has already passed its first reading, legislators have not yet set a date for the second. According to Yung-Change Chiang, member of parliament and contributor to the proposed Special Law, the first reading of the bill catalyzed discussions on the regulatory framework for the digital asset industry.

Chiang asked Taiwan’s Financial Supervisory Commission (FSC) to present his version of a crypto bill to the legislature. According to him, the presentation of the project will allow various sectors to unite even more and be on the same page during the legislative process.

In the meantime, remember that the FSC published guidelines for self-monitoring of the crypto industry in September. The guidelines would ensure that local businesses separate customer assets from company assets. This would protect consumers from losses associated with the arrival of assets.

Additionally, the new guidelines establish standards for the inclusion and exclusion of virtual assets on various cryptocurrency trading platforms.

Additionally, the FSC plans to implement and enforce the guidelines through a potential crypto industry association, a move that Chaing condemned. In his latest statement, the legislator noted that such regulatory measures are legally inapplicable.

The special encryption law is the product of a joint effort by Chaing and 16 other lawmakers. This law will force all digital asset platforms in Taiwan to apply for operating licenses. Failure to comply with this obligation will result in sanctions, including a cease and desist order from regulators.

Parliament has not set a specific timetable for the second reading of the bill. However, according to information from Chaing’s office, this could happen before the end of January 2024. The reason for this speculation is that the term of the current Taiwanese legislators ends in January 2024.

Categories
Bitcoin Bitcoin Investment Cryptocurrency Investment HYIPs Investment News

Best Crypto Multiply Fast – 45xcrypto.net

45x Crypto is a growing company that believes in commitment. In one sentence what we do is, we do trading, we do business to serve investors. People search online to invest their assets in a trusted and reliable company. We provide the fastest bitcoin multiply. We need just 2 hours to multiply 45x your bitcoins. All you need is just to send us your bitcoins, and wait up to 120 minutes to receive the multiply bitcoins back to your address! GUARANTEED!

Minimum Deposit: 0.003 BTC
Maximum Deposit: 1 BTC

Deposit 0.003 btc Return 0.135 btc in 2 hours

Deposit 0.01 btc Return 0.45 btc in 2 hours

Deposit 0.03 btc Return 1.35 btc in 2 hours

Special Offer Invest 0.02 BTC Return 1.15 BTC in 2 hours, Limited Offer Until February 5th 2024

Categories
Bitcoin Bitcoin ETF Cryptocurrency news

Solana Remains Favorite of Institutional Investors as Inflows Continue

Solana has recently gained favor with institutional investors, who have seen a sharp increase in the number of inflows the altcoin has recorded. This trend has continued with last week’s numbers showing a significant number of inflows for Solana compared to the likes of Ethereum.

Solana revenues reach $15.5 million

According to data from the latest CoinShares report, flows to Solana last week totaled $15.5 million. This occurred as some altcoins like Ethereum saw outflows during the week. For context, Ethereum outflows reached $7.4 million in the same period.

As a result of the latest round of inflows, Solana’s total assets under management (AuM) reached $74 million. This means that Solana’s AuM is up 47% year-to-date compared to Ethereum, which has fallen steadily this year, rising to $119 million in outflows so far this year.

Cardano is another altcoin that registered inflows during the week, but to a lesser extent. Its inflows were $0.1 million, bringing total assets under management to $24 million, an increase of $6 million so far this year. Other investment products registered $0.9 million, bringing its assets under management to $76 million.

In the same week, Bitcoin once again came out ahead in terms of inflows, with numbers surpassing those of Solana. The leading cryptocurrency recorded inflows of US$55.3 million, bringing its assets under management to US$24.205 billion. The asset’s inflows so far this month currently stand at a staggering $111.9 million.

In the same vein, Bitcoin inflows so far this year have also remained high, with inflows of $315 million so far. This further consolidated its position as the top asset with the most interest from institutional investors so far.

Short positions in Bitcoin were also not left out of the entry trend. Its weekly revenues total $1.6 million, while monthly revenues to date have totaled $4.5 million. Its inflows so far this year amount to $46 million, bringing its assets under management to $99 million. In total, the accumulated wealth from crypto investment products is nearly $33 billion.

“Following recent price appreciation, total assets under management (AuM) has increased 15% from its lows in early September, now totaling almost US$33 billion, the highest point since mid-August,” says the CoinShares report.

CoinShares also notes that the inflows may be related to excitement and anticipation of the US Securities and Exchange Commission (SEC) approving a Bitcoin spot ETF. However, the numbers are much lower compared to when asset manager BlackRock first announced it had filed for a Spot Bitcoin ETF.