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Switzerland: Regulated Crypto Bank Now offers Yields on Its Stablecoin

Reading Time: 2 minutes
by
Dalmas Ngetich
on
March 17, 2021 Regulation
Sygnum–a digital asset bank with operational licenses in Switzerland and Singapore, is offering a 0.75 percent annual yield on its stablecoin, the Digital CHF (DCHF), a press release on Mar 16 reveals.
The bank is launching a 3-month Digital CHF (DCHF) fixed-term deposit product in a Swiss negative interest rate environment.
Sygnum is Trailblazing
To earn positive yields, CHF holders must convert their fiat to DCHF through Sygnum’s integrated account. Here, owners can buy DCHF, BTC, ETH, and a range of other digital currencies using CHF, USD, SGD, and the Euro. ....

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Thailand: Movie Enthusiasts Can Now Pay for Tickets using Bitcoin (BTC)

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by
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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Kentucky Offers Tax Exemption to Attract Crypto Miners

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by
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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BitGo Receives Trust License From New York Regulators

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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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