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Disney appears to gain a friendly majority in Anaheim City Council. The ‘living wage’ initiative is still too close to callNovember 8, 2018 | dailybusinessnews
After butting heads for two years with the Anaheim City Council, Walt Disney Co. appears to have won a favorable majority on the panel as candidates backed by the media giant were well ahead in a wide field of hopefuls.
Three City Council candidates, including the mayor, who received campaign support…
Anaheim may have a reputation as a wholesome family playground because of its famous theme park, but off-duty adults have always long been able to find a cold brew in places such as Disneyland Hotel or Angel Stadium.
Now a movement is afoot to add beer taps and bring locals and tourists together…
Soon after Thailand adopted its regulations for cryptocurrencies and initial coin offerings (ICOs), companies reportedly pile up to apply for licenses to operate in the country. According to the Thai Securities and Exchange Commission, about 50 ICO projects are seeking to launch, five portals plan to open for business and 20 crypto exchanges have applied for a license.
Preliminary Surge – 20 Exchanges, 50 ICOs
Thailand’s regulatory framework for cryptocurrencies and ICOs went into effect on July 16. The Thai Securities and Exchange Commission (SEC), the main regulator of the country’s crypto industry, began accepting applications for crypto licenses on July 24.
On Wednesday, the SEC revealed the number of companies that have applied for various licenses or are interested in applying, local media reported.
According to Mr. Rapee Sucharitakul, the SEC secretary-general, about 50 projects have shown interest in issuing tokens. Five companies are interested in becoming ICO portals, three of which have already applied. As for crypto exchanges, citing that “license approvals are being processed,” the Bangkok Post quoted him saying:
There are also around 20 companies that have applied for licenses to operate as digital asset exchanges.
Coin Asset’s ATM
Among companies that have applied for a license is Coin Asset, a six-month-old Thai crypto exchange with about 10,000 users. The exchange currently processes approximately 2-3 million baht (~US$ 60,186 – $ 90,279) daily, CEO Suvanus Yamdee told Prachachat Turakij newspaper.
The company has a 90-day temporary license to operate an exchange while its application with the SEC is being reviewed, the publication noted.
The exchange has also applied for a license to operate crypto ATMs, which it unveiled last week. Claiming that the ATM is the first of its kind among Asean countries, Mr. Suvanus explained that it supports multiple fiat currencies – the baht, euros, yuan, and dollars. With a minimum transaction amount of 100 baht (~$ 3), the ATM allows customers to buy and sell BTC, BCH, ETH, LTC, XMR, and DASH.
If approved, the team plans to install the ATMs at Thailand’s major international airports, Suvarnabhumi and Don Mueang, as well as in Chiang Mai.
Bright Crypto Future
When a company files for a crypto business license in Thailand, the “market regulator will forward documents to the finance ministry within 90 days,” the Bangkok Post described. The finance ministry will make a decision within 60 days.
Applicants must meet a number of criteria such as being a listed firm in Thailand and having the required paid-up capital, the news outlet explained. “The directors, executives and company shareholders must also have SEC approval.”
Thuntee Sukchotrat, the CEO of Jibex, a local exchange backed by IT company J.I.B. Computer Group, was quoted saying:
I believe that investors will invest in digital assets instead of stocks in the future…The investment ratio of ICOs to stocks will be on par within two years.
This week, the country’s central bank also green-lighted subsidiaries of financial institutions for crypto activities.
Do you think many more crypto companies will apply for licenses in Thailand? Let us know in the comments section below.
Images courtesy of Shutterstock and Prachachat Turakij.
Need to calculate your bitcoin holdings? Check our tools section.
The post Crypto Friendly Policies Rapidly Drawing Companies to Thailand appeared first on Bitcoin News.
There has been a shift of power from Silicon Valley financiers to star entrepreneurs, who are increasingly wresting control of their companies from venture-capital backers and extracting huge pay packages tied to going public.
WSJ.com: US Business
A well-known bank in Belarus will begin offering a bitcoin contract for difference (CFD) product through its platform, a joint project with a Swiss bank. Meanwhile, Belarus is growing less crypto friendly, reportedly amending its decree to impose strict KYC rules.
New Bitcoin CFD Product
Mtbankfx is an accredited FX dealer and the first banking forex platform in Belarus. Launched in July 2016, it is a joint project between Minsk Transit Bank (Mtbank), one of the most well-known banks in Belarus, and Swiss Dukascopy Bank SA.
The platform will start offering a bitcoin CFD product next week, according to local media. It has already added information and updated its terms of service to reflect this new offering.
Mtbankfx explains in its terms of service that its tools, including the BTC/USD tool with 1:3 leverage, are “available for transactions around the clock – from the opening of the market on Sundays at 21:00 GMT in the summer (22:00 GMT in the winter) until the market closes on Fridays at 20:00 GMT in summer/winter time.” For the bitcoin CFD specifically, the company wrote:
All open positions as of 20:00 GMT Fridays will be forcibly closed.
While the platform offers CFDs for many underlying assets, the bitcoin CFD is the only one that will be forcibly closed.
On March 29, Switzerland’s Dukascopy Bank SA launched its own BTC/USD CFD product for European clients. “Bitcoin to US Dollar (BTC/USD) with leverage 1:3 has been added for live trading,” the company stated.
Belarus Becoming Less Crypto Friendly
Belarusian president Alexander Lukashenko signed the decree “On the development of the digital economy” in January that legalized cryptocurrencies, initial coin offerings, and smart contracts. The decree went into effect in March.
However, local media reported this week that amendments to that decree are already being prepared to obligate cryptocurrency exchanges operating within the High-Tech Park (HTP) to disclose their data and identify customers.
Ria Novosti’s source explained that “beneficiaries must meet the requirements for reputation” such as having no criminal record and no bankruptcy proceedings against them, in whole or part. “They should [also] show the availability of funds in accounts of at least $ 5 million and confirm the sources of their origin.” Additionally, Forklog elaborated:
Operators are required to identify the clients of the exchanges, as well as record and store all types of communications with them. In certain cases, exchange-residents of the HTP will be required to conduct customer verification procedures.
The news outlet added, “information about customers and their transactions should be stored at crypto exchanges for at least five years.”
Do you think Belarus will become even less crypto friendly? Let us know in the comments section below.
Images courtesy of Shutterstock and Mtbankfx.
Need to calculate your bitcoin holdings? Check our tools section.
The post Major Belarusian Bank Starts Offering Bitcoin CFD as Belarus Gets Less Crypto Friendly appeared first on Bitcoin News.
African warthogs, not surprisingly, are not native to Florida so state wildlife officials are investigating how one wound up loose in a suburban neighborhood. Per the AP , Florida Fish and Wildlife Conservation officials told TCPalm.com that it captured the tusky animal last month after a five-day search about 50…
A routine oil change has turned into an unusual owl sighting for a car owner in New Hampshire Friday. The police department in Salem says a mechanic popped the hood of a car and found an Eastern Screech owl sitting on the engine. The department said the car owner had…
A deer hunter in Wisconsin took a cell phone video of an unusual encounter with a young buck on Saturday during the state’s opening day for deer season.
Jennifer Garner’s not just good at getting along with her ex — she’s still totally cool with his mom too. Jen was out for a walk Tuesday with Ben Affleck’s mother, Chris, in Brentwood … and they looked like 2 old friends yukkin’ it up. As we’ve…
A US-supported Afghan airstrike struck and killed local security personnel aligned with government forces, US forces in Afghanistan said.
CNN.com – RSS Channel – World