Cryptocurrency and mining news (01/17/2020)

Crypto News | Cryptocurrencies

Mike Novogratz: Rich pensioners will become even richer if they buy bitcoins

Cryptocurrency and mining news

Visa takes over $ 5.3 billion Coinbase Bitcoin exchange partner

Visa payment system acquired for $ 5.3 billion fintech startup Plaid, working with the Coinbase cryptocurrency exchange and the Abra wallet.

The deal will allow Visa to provide users with advanced payment options and related services for fintech developers.

“This acquisition is a natural evolution of Visa’s 60-year journey from creating a safe and reliable connection between buyers and sellers to providing consumers with access to digital financial services,” said Visa’s Executive Director and Chairman El Kelly.

Previously, the Plaid startup introduced a network that allows users to link various accounts and connect financial accounts to applications.

The transaction is expected to be completed within 3-6 months.

In November 2019, Visa announced plans to create a blockchain system for processing personal data. Then the experts noted that the initiative threatens the market positions of the Plaid aggregator.

US changes rules for foreign investors

The US Treasury has published new rules for foreign investors. According to The Wall Street Journal, now, in order to invest in companies that work with personal data of US citizens, it will be necessary to obtain permission from the Foreign Investment Committee (CFIUS).

Thus, the US authorities want to protect the personal data of Americans and American military technology from companies with foreign participation.

The new rules will also apply to companies that process information, for example, about the state of health, data from genetic tests or geolocation.

Investor verification will also be required for some transactions involving critical technologies. However, the authorities have not yet developed criteria for determining such technologies and companies.

The new rules will not affect investors from Australia, Canada and the UK, because, as the US Treasury said, there are “reliable mechanisms for sharing intelligence and integrating the defense industry base” with these countries.

New rules come into force from February.

Cihan Chu: Iran and the launch of CME Bitcoin options became catalysts for the growth of the first cryptocurrency

In the middle of the week, Bitcoin is trading at $ 8750 and today it can test values above $ 9000. The first cryptocurrency for the first time since 2012 begins a new 12-month period with a sharp strengthening of its market position.

For the first half of January 2020, BTC grew by more than 20%, pulling along almost all the major altcoins.

On the air of CNBC, co-founder of Kenetic Capital investment company Cihan Chu shared his opinion on the main reasons for the coin to take off.

He said:

Uncertainty around Iran and the positive result of the launch of CME bitcoin options have become strong catalysts that have caused a spurt in bitcoin and altcoins.

Cihan Chu is known for having repeatedly spoken about the imminent transition of bitcoin to the phase of aggressive growth. His company, Kenetic Capital, is investing in blockchain startups.

According to Chu, institutional capital has become more active in the cryptosphere over the past few days. The phase of exacerbation of volatility that we are observing now is precisely the result of a sharp increase in investments from institutional groups, which strengthened BTC and altcoins.

UN calls to ignore cryptocurrency conference in North Korea

UN urges to ignore cryptocurrency conference in North Korea Cryptocurrency and mining news

The United Nations warned that participating in North Korea’s cryptocurrency conference in February might be seen as a violation of sanctions against the country.

According to Reuters, sanctions experts from the United Nations (UN) are warning industry representatives not to attend the cryptocurrency conference in North Korea scheduled for February.

The publication Reuters refers to the upcoming annual report of experts on sanctions, which should be submitted to the UN Security Council at the end of this month. The report contains a warning that speeches at the conference may “contain discussions on the use of cryptocurrencies to evade sanctions and money laundering.”

North Korea plans to hold a second cryptocurrency conference from February 22 to 29, according to the official website of the event. The conference is held by the government department of North Korea – the Committee on Cultural Relations with Foreign Countries. Conference organizers note that US citizens are allowed to attend the event and that their passports will not be stamped, the event’s website says.

“We will provide a paper visa separately from your passport, so there will be no evidence of your entry into the country. Your participation will never be disclosed on our part if you do not publish information about it yourself, ”the site says.

The UN statement follows formal charges of conspiracy to violate the law on economic sanctions, Ethereum Foundation developer Virgil Griffith in connection with his unauthorized trip to North Korea, where he participated in a blockchain conference.

According to the American authorities, Griffith taught representatives of North Korea to circumvent economic sanctions using cryptocurrencies and blockchain. The accusation is quite serious and, if his guilty plea, the developer of Ethereum faces up to 20 years in prison.

North Korea has been sanctioned since 2006 because of its nuclear weapons and ballistic missile development programs. Among other things, these sanctions are required to prevent “financial operations, technical training, advice, services or assistance” if this can contribute to the development of North Korea’s missile weapons or evasion of sanctions.