New Investments, Miner Migration, US Treasury Nominee on Crypto + More News


News about investments

  • VanEck, an investment firm, filed a draft prospectus with the US Securities and Exchange Commission (SEC) for a Bitcoin (BTC), futures mutual fund. Their Bitcoin Strategy Fund invests in futures contracts and pooled investment vehicles.
  • According to an email press release, MoonPay, a crypto payments company, said that it had acquired a stake of European provider of digital assets business accounts BCB Group. Both businesses will collaborate to provide additional fiat rails for their clients as well as cryptocurrency services. They also plan to expand their global offerings. The transaction was not disclosed in detail.
  • Criptonite, a Swiss wealth management company, announced its partnership with Wave Financial, a digital asset manager. The emailed announcement stated that. It stated that the partnership will address increasing demand from European investors to invest in new, safe and regulated crypto-asset products.
  • Grayscale Investments’ parent company Digital Currency Group has approved the purchase of shares in Grayscale Ethereum Classic Trust worth up to USD 50m. Although the purchase will be done on the open market using cash, no timeframe has been set.

Mining news

  • BIT Mining, a cryptocurrency mining company, announced the delivery of its first batch 320 mining machines in Kazakhstan. The batch has a theoretical maximum hashrate capacity of 18.2 PH/s and is expected to be operational by June 27, 2021. A second and third batches will be delivered to Kazakhstan by the end of July.
  • Iranian police have seized 7,000 computer-miners from an illegal cryptocurrency farm. This is their largest ever haul of energy-guzzling machines that have exacerbated Iran’s power outages, Reuters reports.

Regulation news

  • Brian Nelson, Biden’s nominee for the Treasury Department’s terrorist and financial intelligence department, stated that if confirmed, he would “prioritize the implementation [the Anti-Money Laundering Act of2020], including new regulations about cryptocurrency,” Bloomberg reported. This law gave new authority to officials to regulate currency “in whatever form”.
  • The Ontario Securities Commission has stated that Bybit, a derivatives trading platform, is operating an unlicensed cryptocurrency trading platform in Ontario. The authority stated that all crypto trading platforms in this jurisdiction were notified by the Ontario Securities Commission that they must bring their operations into compliance to Ontario securities law by April. However, Bybit has not yet done so.
  • The European Data Protection Board (EDPB), is urging any digital euro project to maintain a high level of privacy and data security. They stated that the development body should conduct a high-level assessment of data protection impact and that the EDPB is available to provide any advice needed.
  • According to The Economic Times, investors who purchased bitcoin or other cryptoassets from exchanges outside India could have to pay a 2% equalization levy . According to “people in the loop”, the article said that the tax department is currently investigating whether the new levy applies to crypto purchased online by Indians using overseas exchanges.

Adoption news

  • Bakkt Holdings is the digital asset marketplace behind Bakkt App. It announced that it now offers a virtual Bakkt Visa Debit Card. In an email announcement, the company stated that customers can use their bitcoin or cash balances to buy everyday goods and services online and in-store anywhere Apply PayTM or Google PayTM are available.
  • Sotheby’s auction house said that bidders will be able to purchase a 101.38 carat diamond for USD 15m. The price is unspecified. They also stated that no other physical object with such high value was ever available for sale using cryptocurrency.
  • Maeil Kyungjae reported that the South Korean software giant Hancom established a crypto subsidiary. The company, known for its Hangul word processor and Hancom suite office solutions for PCs, is now moving into crypto and blockchain spheres. Plans are in the works to launch a digital asset exchange. Arowana Hub will manage the new subsidiary. It will be headed by the Hancom MDS software division’s former head. The company will also explore other business opportunities such as token-powered payments platforms.

Information about careers

  • Tristan Rattink is the former head of studio at Hyper Hippo Entertainment and has been named general manager of NBA Top Shot, Canada’s firm behind the tie-in. Rattink will, among other things, work to optimize the non-fungible token ( NFT series Moments) by adding utility and fixing the tech.
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