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A survey of 104 health facilities, commissioned by the opposition, paints a grim picture of a collapsed system hurting for the most essential goods and services.
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Opening arguments in the AT&T-Time Warner antitrust trial are delayed because of an expected snowstormMarch 20, 2018 | dailybusinessnews
Opening arguments in the antitrust trial to block AT&T Inc.’s planned purchase of Time Warner Inc. were delayed until Thursday because of a snowstorm forecast to hit Washington, D.C.
U.S. District Judge Richard Leon announced the one-day delay Tuesday as he finished a hearing to hash out disputes…
New Reports suggest that Nvidia is going to launch a mining GPU sooner than previously expected. The graphics unit comes with features that cryptocurrency miners will find attractive. According to leaked specifications, the Inno3D card is based on the gaming GeForce GTX 1080 Ti.
New Card Good for Mining Ethash Coins
The leading manufacturer of video processing hardware Nvidia is going to launch a dedicated mining graphics card, according to new media reports. Preliminary specifications suggest that the Inno3D model is be based on GeForce GTX 1080 Ti. It is said to be a cutdown clone of the gaming card, but will feature customization targeted at cryptocurrency miners.
The upcoming lineup will be powered by a version of the older “Pascal” chips, which were installed in GTX 1080 Ti and Titan-branded cards. Unlike the gaming products, the mining card will offer custom configuration for the memory and faster performance, but it won’t have a video output.
The card uses Inno3D’s Twin X2 cooler design, with two fans and five heat pipes. No bracket for attaching to a mining frame is seen on leaked pictures, although according to Crypto Mining Blog, a standard PC bracket will be provided as an accessory.
The P102-100 GPUs are similar to Nvidia’s P104-100 cards. They are equipped with CUDA cores 3200, with base clock at 1582 MHz. The physical memory is 5 GB in size, GDDR5X type, with 320-bit interface and 11 Gbps clock. The memory bandwidth is 400 GB/s. They come with PCIe Gen1 x4 bus support and two 8-pin PCI-E connectors. The maximum thermal design power is 250 Watt.
P102-100 will offer the following hashrates: ETH ~47 mhs; ZEC ~660 Sol/s; XMR ~879 hs. The data provided by Inno3D is for reference only. The GPUs are optimized for mining Ethash coins. Currently, there is no information about the price of the new graphics card.
Shifting Winds, Changing Expectations
Strong sales in the crypto segment last year have forced major manufacturers to take measures to adapt to growing market demand. It has been reported that more than 3 million graphics cards were bought by cryptocurrency miners in 2017, with sales reaching $ 776 million. Advanced Micro Systems (AMD) announced intentions to increase production. It has been rumored that Nvidia was preparing to offer a new “Turing” card dedicated for mining applications.
More recent reports, however, suggest that companies fear decreasing demand, caused by market and regulatory risks. Tech sites announced Nvidia had decided to postpone the launch of “Turing” until at least July, and might even scrap plans to offer a mining GPU. AMD has also shared concerns of dropping card sales in 2018. Then, winds shifted again, with information about a new player entering the mining GPU market. Hardware manufacturer Asrock is expected to join the competition in April. The company may introduce its own graphics processing unit, which will be based on AMD chips.
Inno3D will offer crypto miners another specialized product sooner than previously expected. Last year Nvidia released two graphics cards dedicated for mining. P106-100 and the P104-100, based on the previous-generation “Pascal” design, were sold through other companies, including Inno3D. Using “Pascal” chips, P102-100 cards may be offered as a cheaper alternative to the “Turing” cards, which should be based on the new Volta architecture.
Do you think reports of new dedicated mining GPUs hitting the market indicate optimistic expectations for the crypto sector? Share your opinions in the comments section below.
Images courtesy of Shutterstock, Crypto Mining Blog.
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Didn’t pass inspection.
Mexico’s bill to regulate fintech institutions including cryptocurrency exchanges is expected to become law within “weeks,” according to local crypto exchange ISBIT. Daniel Luévano, the exchange’s director of operations, shared with news.Bitcoin.com what to expect from the new law, citing a leaked document he obtained from the recent meeting of regulators.
Changing Mexico’s Crypto Landscape
Mexico’s Chamber of Deputies will soon vote on the bill to regulate the country’s fintech institutions including cryptocurrency exchanges, which the Senate has already approved.
The bill “establishes a regulatory framework that regulates the platforms (called Financial Technology Institutions or ITFs)” which includes crypto exchanges, the document states. “The bill recognizes two types of ITFs: collective financing institutions and electronic payment fund institutions.”
News.Bitcoin.com (BC): Does the bill legalize bitcoin and other cryptocurrencies?
Daniel Luévano (DL): Bitcoin and other cryptos will not be legal tender. However, ITFs that the Bank of Mexico gives consent [to] will be allowed to operate with them.
BC: Can people legally use cryptocurrencies to pay for goods and services?
DL: Yes, they can!
BC: What are the most important changes brought about by the bill?
DL: Financial institutions will be able to operate with virtual assets, but also, they are allowed to invest in ITFs. ITFs will be constantly audited; everything must be transparent to regulators and consumers. AML/CFT [anti-money laundering/combating the financing of terrorism] practices will be a really important requirement for exchanges.
BC: What major changes to the existing Mexican crypto ecosystem will result from the bill?
DL: Changes in the Mexican financial ecosystem? Huge ones.
ITFs will be considered just as important as banks. All trade finance companies will be operating with them.
Only 44% of people in Mexico have a bank account, while the rest only use cash. The amount of money and transactions that can migrate to crypto and its technology is huge.
Licensing & Approved Crypto
BC: What is the role of the Bank of Mexico with respect to the crypto market going forward?
DL: They are more than open to keep new technologies [and] strengthen the Mexican financial ecosystem. They don’t want to lose control of things they still don’t understand widely, that’s why the Bank of Mexico will decide which virtual assets can be operated in the Mexican territory.
BC: Are crypto exchanges now required to get a license from the Bank of Mexico? What kind of authorization do they need?
Yes, now we will have an authorization as an ITF. But this is positive, because now all the financial institutions have permission to work with the now-called ITFs. Mainly, the authorization depends on how strong your security is, and several KYC [know your customer] and AML/CFT practices an exchange should have.
BC: Are there restrictions on what cryptocurrencies are approved in the bill?
DL: The Bank of Mexico will decide which ones [cryptocurrencies] are allowed to be listed on the exchanges.
They will decide according to Article 30 [which states that] “Bank of Mexico will take into account, among other characteristics, the public acceptance (its use, the trade of it, the storage, and the volume of transaction), other jurisdictions’ acceptance, other agreements, mechanisms, rules or protocols that allow to create, identify, partition, and control the replication of these assets.”
BC: What are the penalties for non-compliance?
DL: The penalties are applicable only for the ITFs in case they don’t comply or they don’t follow the law. If you don’t have the authorization, the penalty is from 30k UMA to 150k UMA, according to Article 104 I. 1 UMA (Unit of Measurement and Update) = 80.6 MXN = 4.27 USD.
BC: When will this bill become law? And how long do exchanges have to comply?
DL: The bill will become law in the following weeks, as soon as the Chamber of Deputies votes for it.
Exchanges will have one year to comply.
What do you think of Mexico’s regulations for crypto exchanges? Let us know in the comments section below.
Images courtesy of Shutterstock and Isbit.
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The post Sneak Peek: Mexico’s Regulations for Crypto Exchanges Expected in ‘Weeks’ appeared first on Bitcoin News.
Thailand’s financial agencies have agreed that regulators cannot stop the use of cryptocurrencies within the country. The relevant ministries will meet and discuss the regulatory framework for digital currencies and initial coin offerings, which is expected to be finalized within a month.
Can’t Stop Crypto – Forced to Regulate
Thailand’s Finance Minister Apisak Tantivorawong said on Thursday that “The government will not ban cryptocurrency trading,” the Bangkok Post reported, adding that “A regulatory framework to govern digital currencies will become clearer within a month.” At the “Thailand Takeoff 2018” seminar, he emphasized:
After a recent discussion, related agencies agreed that regulators cannot stop the use of virtual currencies but will have to regulate and control them in an appropriate manner.
The Thai Securities and Exchange Commission (TSEC), the Ministry of Finance, the Anti-Money Laundering (AML) Office, and the Bank of Thailand (BOT) will soon meet to discuss this matter in detail, according to Thai Rath.
In addition, “Mr. Apisak said that the best authority to take care of digital currency is the [T]SEC, because the [T]SEC is responsible for the oversight of securities,” the news outlet wrote. The finance minister also indicated that the Bank of Thailand is not the appropriate organization to oversee cryptocurrencies since they are not recognized as legal tender.
The regulators are “currently drafting legislation to oversee and regulate the use of digital currency, [which is] expected to be finalized within 1 month,” Channel 7 reported.
The Thai government will also regulate ICOs. The finance minister asserted that if Thailand is to improve its fintech sector, it must be able to regulate cryptocurrencies and ICOs, Prachachat Turakij details.
Recently, a mobile distributor listed on the Thailand Stock Exchange (SET), Jaymart, announced plans to let its subsidiary, J Ventures, raise funds through an ICO. With a pre-sale in February and the official ICO in March, the company aims to raise 660 million baht (~USD$ 20.8 million) and will use the funds to “develop a decentralised digital lending platform” using blockchain technology, the Bangkok Post describes.
Finance permanent secretary Somchai Sujjapongse explained that the TSEC is taking responsibility for this matter and is conducting a public hearing on ICOs, the publication noted and quoted him saying:
There is no law governing ICOs, so Jaymart has not done anything wrong – but don’t cheat people.
Do you think the Thai government is taking the right approach to regulating cryptocurrencies and ICOs? Let us know in the comments section below.
Images courtesy of Shutterstock and Thai SEC.
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The post Thai Government Cannot Stop Crypto Use – Regulatory Framework Expected in a Month appeared first on Bitcoin News.
SpaceX performed a static fire of its long-awaited Falcon Heavy rocket Wednesday at Kennedy Space Center in Florida, and Chief Executive Elon Musk expects the rocket to launch in about a week.
Around 9:30 a.m. Pacific Time, large plumes of steam began to billow out from what appeared to be the…
Rather than wait three-plus years to build a new US embassy in Jerusalem, US officials are speeding up the move from Tel Aviv. A new, more affordable plan will see an existing consular building in the Arnona neighborhood of West Jerusalem converted into a new embassy, officials tell the New…
If you live in the Northeast or Midwest, you’re not dreaming: It’s going to be a white Christmas. But the trade-off is hazardous driving conditions across New England and the Great Plains, the AP reports. The National Weather Service (NWS) tweeted a list of emergency supplies to have on hand…