BITCOIN

Swan Bitcoin, a bitcoin exchange platform, announced recently that it would terminate accounts of users directly interacting with mixing services. The company explained that this was due to the pressure from banking institutions after the Financial Crimes Enforcement Network (FinCEN) presented a proposal to increase the bookkeeping requirements on these transactions. Swan Bitcoin Announces New Restrictive Policies Regarding Mixing Services Swan Bitcoin, a California-based Bitcoin services platform, recently announced a change in its policies regarding mixing services. The company sent a letter to its customers stating that from now on, accounts that interact directly with transactions coming from or going to coin mixing services risk being terminated. The company explained that this change had to do with the pressures that its banking partners had been exerting due to the introduction of a Financial Crimes Enforcement Network (FinCEN) proposed rule that seeks to establish new resp...

João Pedro Nascimento, president of the Brazilian Securities and Exchange Commission (CVM), believes that drex, the Brazilian central bank digital currency (CBDC), will “kill” many cryptocurrencies. While established cryptocurrencies like bitcoin and ethereum will keep being used in the country, drex will impact the adoption of smaller and less-known crypto projects, Nascimento stated. CVM President: Brazilian CBDC Drex to End Lesser Cryptocurrencies The Brazilian government has high hopes for the future of drex, the Brazilian central bank digital currency (CBDC). João Pedro Nascimento, the head of the Brazilian Securities and Exchange Commission (CVM), stated that the issuance of drex will kill many cryptocurrencies due to several factors. During a financial symposium, Nascimento stated that while larger and already established cryptocurrencies will be safe, drex will sip away attention from lesser-known cryptocurrency projects by offering many of their functionalities in just on...

The world’s largest asset manager, Blackrock, has outlined why the U.S. Securities and Exchange Commission (SEC) “must” approve spot Ethereum exchange-traded funds (ETFs). Nasdaq, which has filed with the SEC to list and trade shares of Blackrock’s spot ether ETF, believes that approval of a spot ETH ETF would be “a major win for the protection of U.S. investors” in the crypto space. Blackrock Argues SEC ‘Must’ Approve Spot Ether ETF Blackrock, the world’s largest asset manager, has argued that the U.S. Securities and Exchange Commission (SEC) must approve spot ether exchange-traded funds (ETFs) like the one it seeks to launch. Nasdaq Stock Market filed with the SEC to list and trade shares of Blackrock’s spot ether ETF called “Ishares Ethereum Trust” last week after the asset manager registered the fund with Delaware’s Division of Corporations. In its SEC filing , Nasdaq Stock Market LLC detailed that the sponsor of Blackrock’s spot ether ETF is Ishares Delaware Trust Sponsor LL...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Central Bank of Brazil confirms that unlicensed exchanges can still operate in the country; El Salvador will integrate Lightning Network transactions in its Chivo ATM network; and Trubit raises $6.25 million to expand crypto adoption in Latam. Central Bank of Brazil Clarifies Exchanges Still Don’t Need Licenses to Operate The Central Bank of Brazil issued a statement clarifying the state of the cryptocurrency regulation in the country regarding the operation of unlicensed exchanges. In its 40,874 communication, the bank revealed that the conditions and deadlines for virtual assets services providers (VASPs) to adapt to Brazil’s cryptocurrency law would be established in a normative act later. Furthermore, João André Calvino Marques Pereira, head of the financial system regulation department of the bank, revealed that crypto platforms can still ...