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Pension assets hold huge sway in the investment world as billions of retirement funds are invested in stocks, bonds and even property. However, with Bitcon s price skyrocketing in recent months, some experts predict cryptocurrencies could be the next asset to see investment from the retirement industry.
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Dalmas Ngetich
on
March 5, 2021 Bitcoin
In the first pilot project in Thailand’s entertainment scene demonstrating virtual currencies’ potential, Major Cineplex Group is collaborating with Zippex and RapidZ.
Clients can now buy movie tickets using Bitcoin and digital cryptocurrencies, adapting to the “new normal lifestyle,” local news outlet
Siam Rath on March 5 reports.
Thailand’s Crypto Players Join Hands to Spur Adoption
Major Cineplex Group is the largest movie theatres operator in Thailand, while Zippex is an established crypto exchange. On the other hand, RapidZ is a digital exchange management system provider with a presence in South East Asia.
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Anthonia Isichei
on
March 4, 2021 Regulation
Lawmakers in the U.S. state of Kentucky recently approved a bill that would exempt cryptocurrency miners from paying taxes.
Crypto Mining Tax Exemption Bill Receives Majority Support
According to local news outlet the
Lexington Herald-Leader on Tuesday (Mar. 2, 2021), the House Budget committee of the Kentucky General Assembly approved Bill 230, which sought to remove taxes on electricity purchased for commercial cryptocurrency mining activities.
The bill saw a vote of 19-to-2, which meant that lawmakers were in favor of the proposal. Meanwhile, the purpose of the tax exemption is to attract crypto miners to the state and encourage the growth of the industry.
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by
Anthonia Isichei
on
March 4, 2021 Regulation
California-based digital assets financial services company, BitGo, received a charter to operate in New York as an independent and regulated custodian.
BitGo Scores New York Trust Charter
According to an official announcement on Thursday (Mar. 4, 2021), BitGo was granted the trust license under the New York State Banking law by the New York State Department of Financial Services (NYDFS). The approval comes after BitGo’s earlier application to the NYDFS for a New York Trust Charter back in August 2020.
With the new license, BitGo is able to act as a custodian to institutional clients in the state seeking to make large crypto investments. Also, the company would offer its New York clients an extensive crypto experience, fast onboarding, anti-money laundering (AML) and know your customer (KYC) controls, among other services.
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Adeniyi Olowoporoku
on
March 2, 2021 Regulation
Thailand Securities and Exchange Commission (SEC) has allayed concerns regarding some of the requirements in its crypto proposal draft plan. This was in response to the uproar from crypto stakeholders about certain aspects of the proposed crypto framework.
Thai SEC Responds to Crypto Regulatory Controversy
The crypto proposal draft released in February had suggested that new crypto investors must possess a minimum of 1 million baht annual income, a minimum age limit, and proven trading experience. The proposal had drawn criticism due to the excessively high standards for crypto trading, limiting low and middle-income earners from investing in cryptocurrencies.