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Wednesday was supposed to be a day of celebration for Italians, a public holiday marking the day when Catholics believe Jesus’ mother Mary ascended to heaven after her life on earth.
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Sinclair Broadcast Group’s proposed $ 3.9-billion deal to acquire Tribune Media is dead.
Tribune announced Thursday that it is terminating the merger agreement. The companies had the option to kill the sale if it had not closed by Aug. 8. The deal was first announced in May 2017.
Tribune also said…
Adoption news keeps flowing this week, from Wall Street to Australia, and now San Francisco. The United States largest cryptocurrency bank, Coinbase, announced it is expanding its commerce section to include Woo Commerce via a plugin downloadable from Github. It could be just what more online merchants need to get comfortable with cryptocurrency.
Coinbase Seeks Online Merchant Crypto Adoption by the Millions
More than a quarter of all online merchants use Woo Commerce. It’s easily one of the most popular payment platforms around. This week, Coinbase announced it is releasing a Woo Commerce plugin as part of its proprietary Coinbase Commerce offering which can be downloaded from Github.
Coinbase Commerce is itself a payment solution focusing on getting more online merchants to use cryptocurrency. Woo Commerce businesses will “have access to cryptocurrency payments from customers around the world,” Coinbase stressed. “This increased access will lead to more widespread adoption, and ultimately, moves us closer to our goal of an open financial system.”
At present, ethereum and bitcoin cash (BCH) are still being tested on the platform, but users who hold bitcoin core (BTC) and litecoin can send theirs from Coinbase Commerce. The team is working on building similar functionality for bitcoin cash and ethereum.
Merchants who use the payment button React now have the option of embedding Coinbase functionality as well. The San Francisco-based crypto bank is also incorporating programming languages such as Python, and are said to even be considering Ruby. The idea seems to be keeping merchants happy by not asking them for acceptance payment fees.
These are just a scant few moves Coinbase has been making as a unit this year. They are now involved with institutional financial products, and are launching a crypto index fund, gobbling up licenses such as the Bitlicense, have purchased Paradax exchange, and are plotting a move into Japan.
The payment processing market is a giant one. All the proof anyone would need to measure just how huge is, say, the recent announcement by Wall Street and its entrance into all things retail with Bakkt (includes Microsoft and Starbucks). And while the space is getting crowded a bit, Coinbase has a built-in advantage being a relatively early mover in the ecosystem, a very positive brand identification, and a host of lincenses and general trust among weathermen.
Do you think Coinbase’s new plug-in will encourage merchant adoption? Let us know in the comments section below.
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Japanese crypto exchanges may soon have an official self-regulatory body. The Japan Virtual Currency Exchange Association has applied with the country’s financial regulator to become the authority for self-regulation, with the power to enforce rules on its crypto exchange members.
Registering with FSA
The Japan Virtual Currency Exchange Association (Jvcea) announced Friday that it has applied for certification with the country’s top financial regulator, the Financial Services Agency (FSA).
There are currently 16 government-approved, fully licensed crypto exchanges in Japan; all of them are members of the Jvcea.
The association explained that it is seeking to become a “certified fund settlement business association,” which will serve as a self-regulatory body for crypto exchanges. Its primary objectives include providing “guidance and recommendations to members to comply with regulations, laws and self-regulation rules,” the Jvcea’s announcement reads. The association hopes to contribute “to the sound development of the virtual currency exchange industry and the protection of the interests of users.”
According to To-o Nippo Press:
The Financial Services Agency will carefully examine the affairs of the association and carefully investigate whether proper group management can be expected. It will take 1 to 2 months for the review.
The Jvcea was established in response to the hack of Coincheck in January where 58 billion yen (~US$ 521 million) worth of the cryptocurrency NEM was stolen. It aims to restore public trust in the crypto industry.
Japan also has two other crypto associations which predate the Jvcea: the Japan Blockchain Association (Jba) and the Japan Cryptocurrency Business Association (Jcba). Most crypto exchanges in the country are members of one or both of these organizations.
Self-Regulatory Rules Submitted
The association has reportedly drafted self-regulation that includes a number of restrictions on how crypto exchanges operate. In June, local media reported that privacy coin listings will be restricted and a ban on insider trading will be imposed.
“We also submitted voluntary rules on margin trading and insider trading [to the FSA],” Jiji Press quoted the association:
If it [the Jvcea] is approved as a self-regulating organization, it will be possible to enforce disposition and investigation of member exchanges, expulsion of membership…in a mandatory manner.
According to the publication, the FSA “plans to entrust the organization with the flexibility to rapidly develop technologies and to combine technological innovation and customer protection.”
The association wrote, “We will work closely with registered virtual currency exchange traders and all those who support us while fully working to restore users’ trust in domestic virtual currency handlers and markets.”
What do you think of the association’s efforts? Do you think Japan should have a self-regulatory authority? Let us know in the comments section below.
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Anyone in need of a lifetime supply of toilet paper should get in touch with the State Department. The US Embassy in London, which recently moved to a new building from the one it kept for more than 200 years, is cleaning house of the usual office gear: tables, chairs,…
China is moving faster than expected to inject money into the economy, a sign that the government is becoming more worried about slowing growth as trade tensions are on the rise.
WSJ.com: What’s News Asia
Not everyone is hating the Russia thing : Certain neo-confederates are promising to post a Russian-language page to share ideas with Russians about “Southern nationalism,” reports AL.com . Called League of the South, the Alabama-based group made its announcement only days after President Trump and Vladimir Putin met to discuss issues…
The special counsel in the Russia investigation is seeking immunity for five potential witnesses in the upcoming trial of President Trump’s former campaign chairman, Paul Manafort. The five individuals have indicated that they won’t testify or provide other information “on the basis of their privilege against self-incrimination,” special counsel Robert…
The United States begins the world’s largest naval exercises in the Pacific as it seeks to impress allies and counter ChinaJuly 1, 2018 | dailybusinessnews
The Pentagon kicked off the world’s largest naval war games last week, the biennial, month-long Rim of the Pacific exercises, known as RIMPAC, bringing together 46 ships and submarines, 200 aircraft and 25,000 troops from 25 nations.
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The Polish Bitcoin Association has reportedly appealed to Poland’s Office of Competition and Consumer Protection (OCCP) to protect the country’s cryptocurrency sector from what it perceives as a growing embargo targeting virtual currency businesses on the part of Polish financial institutions.
Polish Bitcoin Association Files Complaint with OCCP Against 15 Banks
The Polish Bitcoin Association has accused a number of the country’s banks of seeking to restrict competition through refusing to provide financial services to cryptocurrency companies. The association recently filed a complaint with the OCCP requesting that the regulator launch an investigation into the alleged banking embargo, and impose penalties where appropriate..
The Polish Bitcoin Association’s complaint accuses “15 financial institutions” of refusing to provide bank accounts to 52 entities in the country’s nascent cryptocurrency sector, adding that said banks have also unfairly closed the accounts of a further 25 entities. The complaint describes mBank as having the most “disgraceful” record among Poland’s banks, alleging that the it has “made 9 refusals and closed 3 accounts.”
According to a rough translation of the complaint, “the effects of the banks’ actions described clearly aim at removing virtual currency entities from the market, despite the fact that such activities are legal and conducted with dignity. In view of the above, action by the regulators is necessary, and this notice and its requests are fully substantiated.”
No Polish Regulations Prohibit Cryptocurrency Trading
The Polish Bitcoin Association asserts that the alleged restriction of financial services to cryptocurrency companies has occurred without a legislative mandate, emphasizing that there is no prohibitive regulatory regime concerning the exchange of cryptocurrencies.
Earlier this month, the Polish Financial Oversight Commission published a document seeking to clarify the legal status of cryptocurrency in the country, in which the watchdog stated that there are “no regulations prohibiting [the] trading […] of cryptocurrencies. The release also expressed the Polish Financial Oversight Commission’s intention to develop and introduce a regulatory apparatus pertaining to bitcoin and alternative cryptocurrencies during July.
Earlier this week, a survey conducted by Ipsos for ING found that Polish citizens are among the most virtual currency-savvy in Europe – with 77% of respondents expressing familiarity with cryptocurrency. The survey found only one European nation to produce a higher percentage of respondents that had heard of cryptocurrency, with 79% of Austrians found the have been familiar with virtual currency.
Do you think that Poland will adopt a permissive or prohibitive regulatory apparatus with regards to cryptocurrencies? Share your thoughts in the comments section below!
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