Brazil proposes stricter penalties for crypto-related financial crimes
Brazilian lawmakers are working on a set of new penalties for money laundering with cryptocurrencies, the penalties are part of a new piece of legislation that also regulates crypto trading and payments. According to an official announcement on Sept. 29, Brazil’s Special Committee of the Chamber of Deputies has passed a bill that dramatically increases […]
Survey shows 50% of Africans invest in crypto to fund their children’s education
According to a recent survey, the majority of cryptocurrency investors in Kenya, Nigeria, and South Africa joined the market with long-term aims in mind, such as ensuring the financial security of their families. Luno, a London-based firm, undertook a study of over 7,000 people from Nigeria, Kenya, South Africa, the United Kingdom, Australia , Indonesia, […]
French regulator warns Investors against unlicensed crypto platforms
The Autorité des Marchés Financiers (AMF), a French stock market regulator, continues to monitor the cryptocurrency sector and has advised investors to only invest in crypto through authorized services listed on official websites. AMF amended its online portals on Oct. 1 that had been recognized as selling cryptocurrency and foreign exchange (FX) investments through unlawful […]
It is not possible to destroy crypto – CEO Elon Musk
Tesla’s CEO Elon Musk has expressed support for cryptocurrency, calling it “undeniably irreplaceable,” in the wake of China’s recent cryptocurrency crackdown. “It is not possible to, I think destroy crypto, but governments can slow down its advancement,” Musk stated at the Code Conference in California on September 28, according to CNBC. The decentralized nature of […]
Switzerland approves its first cryptocurrency fund
The newly approved fund is limited to eligible investors and invests largely in cryptocurrencies or digital assets, also the fund tracks the performance of the 10 largest cryptocurrencies from SIX Swiss Exchange’s Market Index. As local financial authorities give more regulatory permissions for crypto investment vehicles , cryptocurrency usage continues to gain traction in Switzerland. […]