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German Investment Firm Plans To Add Bitcoin To Its Offerings

The $500 billion German asset manager speeds up plans to adopt crypto after assessing Bitcoin certificates. The DZ bank group investment arm Union Investment makes another move to provide crypto investment services to individual investors. They intend to convert a small percentage of their funds to BTC. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Union Investment is knowns as the investment arm of DZ Bank Group, an organization with more than 800 cooperative banks. They had an asset worth $507 billion under management as of June 30. This makes the investment company one of the biggest asset managers in Germany. Union Investments Conducting A Crypto Experiment According to sources, the portfolio manager revealed the Company’s intention to convert 1-2% of their portfolio to BTC. However, David Barthe added that they’re yet to fix the date the plan will kick off in Q4. This idea emerged after the company’s first addition of crypto to a mixed fund known as Private Funds Flexible Pro. They came like Delta one certificates early this year. Delta certificates expose investors to assets in a manner that looks like they are the owners already. Kamil Kaczmarski is a renonwn consultant for Oliver Wyman financial service providers. He revealed that his firm had observed the high interest in crypto existing within the fund manager lately. Currently, union investment has a total sum of $500 billion worth of assets under management. Bringing Bitcoin To The Masses Developments like the ones at Union Investment are among the many that make crypto exposure easier for an average person. Further assistance from Germans S Brokers issued Stocks, ETFs, and 40 BTC certificates recently. This will give customers access to a wide range of crypto assets to invest in This means suspension of access to Bitcoin ETF in the US. It’s not in SEC plans to approve institutions like that currently, and they may wait till 2023 before considering it. A bitcoin ETF is a digital currency that mimics the BTC price,  the most popular digital currency. It allows investors to buy into the ETF without following the complicated process of trading bitcoin itself. Related Reading | Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan Recently, ATM installations are increasing greatly, providing a more friendly option of purchasing and selling BTC to wallet owners. Statistics show that most ATM installations are done in the US. Bitcoin is still trying to recover its previous losses | Source: BTCUSD on TradingView.com A BTC ATM is a kiosk allowing individuals to buy Bitcoin and other cryptos with a debit card or cash. Bitcoin cash kiosks are similar to traditional Automated Teller Machines, except they don’t connect to any bank account. Instead, they directly connect users to a Bitcoin exchange or wallet; 42,266 BTC ATMs in the United States. Featured Image From Pixabay, Chart From TradingView.Com
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Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan

The new Bitfinex STO trading platform is now ready to operate in Kazakhstan. It will allow investors access the tokenized securities and blockchain-based equities. Popular Bitfinex cryptocurrency exchange has announced its plans to launch a trading platform that focuses on STOs (Security Token Offerings). Bitfinex recently announced that they scheduled the new platform to operate in compliance with Kazakhstan financial laws. This is in line with the provision of (AFSA) Astana Financial Services Authority. Related Reading |  New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The Security Token Offerings exchange is also known as Bitfinex Securities Ltd. Its launch is seen as one of the company’s efforts in supporting the growth of the world’s financial industry. Securities Features And Offerings of Bitfinex Bitfinex Securities is to run a 24/7 operation similar to others in the digital market. The company deployed technologies that will boost efficiency, reduce transaction costs and enhance the success rate on the platform. Investors will have the opportunity of accessing an International Security trading market via the STO platform. Interested investors will also have the opportunity of diversifying their portfolios. In addition, the STO will provide them access to varieties of financial products like bonds and equities. Issuers of the Security tokens take advantage of the platform when they raise capital through the tokenized security offerings. The information was according to an announcement, and the idea was to raise capital. The Bitfinex Chief Technology Officer stated that the STO exchange seeks to offer a positive contribution. It will assist the trading platform in becoming the best of its kind in the world. Paolo Ardoino added that Bitfinex Securities Ltd offers a new regulated platform that serves medium-cap and small companies. It targets the ones that are currently underserved by already existing capital markets that are inefficient. Restricted Countries Kazakhstan will regulate the exchange. It will allow global investors to trade different tokenized securities publicly. However, investors in Canada, Switzerland, Australia,  the British Virgin Islands, the United States, Italy, and Venezuela have restrictions. According to the legal statement from Bitfinex, they are not allowed to utilize the platform. Related Reading | Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment More so, other countries under the embargo of Iran, Kazakhstan, the United States, and Cuba, etc., are also restricted access. Rising Demand For Tokenized Securities A security token is an investment contract representing real-life assets such as digital artwork and real estate. The popularity of this asset class is increasing among investors, with various crypto-related firms joining the market. These firms offer different tokenized securities. Traditional financial institutions have noticed the increasing demand for these securities. As a result, they have started issuing their security tokens like other crypto-related companies. Featured Image From Pixabay
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New SEC Regulations Add Cryptocurrency Under Security-Based Swap Rules

The cryptocurrency industry might soon be flooded with different kinds of rules to checkmate its operations. The recent developments in the sector point towards a new SEC rule that will guide the security swaps occurring in many financial assets, including crypto. This information came from the SEC Chairman during a speech he gave to the American Bar Association Derivative & Future Law Committee. While speaking, Gary Gensler outlined the changes that will take place on security-based swaps in 2022. According to Gary, these changes will ensure that transparency exists in such transactions and reduce the risks associated with the market. Related Reading | Vitalik Buterin Urges Ethereum To Grow Beyond DApps The new requirements will take off in November and include internal risk management, new counterparty protections, new capital & margin requirements, trade acknowledgment & confirmation, record keeping & reporting procedures, and supervision & Chief compliance officers. In addition, from February 2022, the SEC will mandate swap data repositories to publicize data about individual transactions. Due to these rules, Gary mentioned that he had asked staff to embrace ways that can increase transparency & reduce risk using authorities, especially for security-based SEFs & Position reporting. Before closing the speech, the SEC Chairman mentioned that the cryptocurrency sector would be a part of the trade reporting rules for security-based swaps. He stated that operators must register every offer or sale under the “Securities Act of 1933.” The crypto market is trading sideways as the bulls and bears fight | Source: Crypto Total Market Cap on TradingView.com Moreover, Gary stated that the Commission is ready to utilize every tool at its disposal in protecting investors. Cryptocurrency Regulations Are Gaining Momentum There has been a lot of talks around crypto regulation. Many of the agencies in the United States has been pushing for the regulation of the sector. On one occasion, the Federal Reserve Chairman declared earnestly that there should be a stringent regulation for assets like stablecoins. Related Reading | American Banks Encouraged To Partner with Cryptocurrency Firms He also went to Congress last week to discuss the need for creating a digital US dollar. In addition, a new bill on Congress aimed to provide a legal definition for digital assets and reduce the unfounded fears of regulating blockchain-based tokens. There was also a meeting about a possible regulation for stablecoin. This meeting was held by the Working Group of Financial Markets, who revealed that they want to release recommendations in a few months to come on how Stablecoins will be regulated. So, the issue of cryptocurrency regulation continues to rise, and many government agencies seem to support the idea. Featured image from Pixabay, chart from TradingView.com
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Newly Discovered Monero (XMR) Glitch Will Negatively Affect Transaction’s Privacy

The developers of Monero (XMR) recently discovered a bug capable of exposing transactions of its users. Even though the team is working to fix it, they have announced that users’ privacy is at risk as long as the bug remains. The Monero team made this announcement through their official Twitter account. They called it a “significant bug,” which they claim to have discovered in the crypto’s “decoy selection algorithm” This algorithm is a system that the network uses to hide output transactions within 10 decoys. A Brief About The Bug History   The developer who discovered this bug was Justin Berman, a software developer. He noticed that the bug makes it easier for output transactions to become visible as real spend among the 10 decoys. Once the user spends money after a lock time in the first 2 blocks or spends money after receiving money, the transaction will be visible. Related Reading | American Banks Encouraged To Partner with Cryptocurrency Firms When Justin discovered the bug, he stated that there is no risk of exposure for addresses and transaction amounts. However, it will enable users to know when a transaction occurs on the crypto. According to the developers’ statements, the bug won’t facilitate the stealing of funds, but it has remained in the wallet code. Another Monero (XMR) contributor mentioned on Reddit that the Monero bug impacts past transactions. So, Monerao developers recommend that its users should wait for one hour or more after receiving XMR before spending it. Monero (XMR) follows an uptrend on the daily chart as crypto market floats in the green zone | Source: XMRUSD on TradingView.com That way, they can protect their privacy pending when there will be a wallet software update to reduce the privacy risks. Also, the developers assured the community that they don’t need to carry out a hard fork or full-scale network upgrade to tackle the bug. Monero (XMR) Network The Monero network joined the industry in 2014. It is a crypto that focuses more on the privacy of its users. Monero’s goal is to provide a system where crypto users can complete private transactions that no one can trace. The network uses unique cryptography to keep transactions 100% unlinkable and untrackable. The crypto maintains a significant rank in the crypto industry based on its Market Cap and has been the largest amongst privacy-centered digital currencies. At press time, the XRM price stands at $263.  This price represents a 4% gain in 24 hours of trading based on TradingView data. Related Reading | Vitalik Buterin Urges Ethereum To Grow Beyond DApps Before now, our sources have mentioned that many financial regulators’ eyes are on Monero. These agencies have done several things to break the privacy that characterizes their transactions. For instance, in 2020, the Internal Revenue Service of the United States announced a $625,000 award for any person who can crack the transactions occurring on Monero and also on Bitcoin’s Lightning Network, another privacy-centric network. Featured image from Business Insider, chart from TradingView.com
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