Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News

Bitcoin News: 26th September 2021

  • After the Bitcoin Tips Integration, Cathie Wood’s Ark Invest buys $89 million worth of TWTR.
  • Cardano has partnered with DISH Network, an American telecommunications company. 
  • Swiss authorities have imposed anti-money laundering regulations on cryptocurrency.
  • For real-time market data, Cardano will incorporate Chainlink oracles.
  • Only ten Korean cryptocurrency exchanges have met the deadline for registration.
  • NFT Project Will Donate 100% Of Profits To Aid Afghan Women In Getting An Education

Cathie Wood’s Ark Invest buys $89 million worth of TWTR

CryptoPotato has reported that Ark Investment Management has increased its support for Jack Dorsey’s social media platform. Surprisingly, the most recent large stock buy occurred just one day after Twitter stated that BTC tips would be enabled.

Cathie Wood’s investment manager acquired approximately 124,000 shares of Twitter on Friday, according to Benzinga. This amounted to $88.74 million based on TWTR closing pricing.

Ark Invest accumulated Twitter equities via two of its most popular ETFs, the Ark Innovation ETF (ARKK) and the Ark Next Generation ETF (ARKW).

As a result, out of about 50 companies, the social networking platform has become ARKW’s third-largest stake.

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
Cathie Wood’s Ark Invest buys $89 million worth of TWTR

The combined allocation of TWTR shares from the two ETFs is currently slightly under 11 million, valued at around $760 million as of Friday. This followed a large buy-in mid-May when Twitter’s price plummeted.

It’s also worth mentioning that, following a collaboration with Strike, Bitcoin payments will take place over the Lightning Network.

Previously, the company’s CEO expressed his support for the asset, stating that he wants to make BTC the Internet’s money. Dorsey also stated at the Bitcoin Conference in Miami earlier this year that if the Bitcoin network required him, he would leave Twitter and Square.

Cardano has partnered with DISH Network

IOHK creator Charles Hoskinson announced a collaboration between Cardano and DISH Network, a Fortune 500 American television satellite provider, during the current Cardano Summit 2021.

The strategic collaboration seeks to bring Cardano’s blockchain technology to DISH’s telecom services, which is expected to promote Cardano’s adoption and benefit DISH’s 8 million digital identities (D.I.D) on satellite phones.

While the basic goal was to establish a network where users could travel effortlessly from one place to another, according to Hoskinson, the underlying business infrastructure has remained “ossified.”

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
Cardano x DISH network

Moving further, Despite the obstacles of using blockchain technology in the field, the IOHK founder expects that the cooperation would revolutionize the whole model of the Telecom sector.

Millions of DISH subscribers, he claims, will be able to join to the Cardano network without the intervention of centralized businesses. If it is effective, it may become the standard business model for the telecom industry.

With over 19 million subscribers, DISH is one of the leading Telecom providers, giving users complete control over their accounts. The firm is also a Fortune 500 company and one of the first major companies to accept cryptocurrency payments as reported by CryptoPotato

Swiss authorities have imposed anti-money laundering regulations on cryptocurrency

BeingCrypto reported that The Swiss Financial Market Supervisory Authority (FINMA), which protects bank customers, insurers, and investors against fraudulent service providers, is requiring digital asset providers to take further steps to guarantee that their platforms are not exploited for illegal purposes. 

According to a letter from Christoph Kluser, the para banking system’s supervisor, the regulatory body would want to see further precautions applied as part of a larger effort to combat money laundering and terrorism funding.

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
Swiss authorities have imposed anti-money laundering regulations on cryptocurrency

Switzerland has sought to revise a 24-year-old law to address some of the vulnerabilities that have allowed money laundering to thrive, including two graft scandals, the Venezuelan PDVSA, and 1MDB, and has sought to revise a 24-year-old law to address some of the vulnerabilities that have allowed money laundering to thrive.

Cryptocurrencies appear to be a new risk, since FINMA recently denied Bitcoin Suisse, a crypto broker, a banking licence owing to money laundering concerns. The money laundering defensive measures of Bitcoin Suisse were deemed to be vulnerable by FINMA.

Cardano will incorporate Chainlink oracles

The utilisation of blockchain-based peer-to-peer technology to construct trustworthy and transparent financial solutions utilising oracles and smart contracts lies at the heart of DeFi and RealFi’s promise. We announced an interesting new strategic cooperation with Chainlink Labs today at the Cardano Summit, which will enable developers construct smart contracts for Cardano DeFi apps.

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
Cardano x Chainlink

Moving ahead, Chainlink’s decentralised “oracle” networks will offer access to real-world databases, allowing “smart contracts” to operate around information like election outcomes, sports figures, and cryptocurrency prices.

This partnership between IOHK and Chainlink Labs will provide access to a plethora of protected data, assisting DeFi in realising its goal of creating a less expensive and more equitable global economic system. Cardano will first be linked to information streams for real-time market pricing. Additional sports and weather data streams will be added over time for usage in insurance, gambling, and NFTs.

“Oracles are crucial for making real-world data available on Cardano, and they facilitate sophisticated smart contracts, such as DeFi applications,” stated IOHK Founder Charles Hoskinson.

Only ten Korean cryptocurrency exchanges have met the deadline for registration

BeingCrypto reported today that, Six Korean crypto exchanges, Five, Gdac, OK-BIT, Prabang, and Flat Thai X, achieved headway with the Korean Financial Intelligence Unit’s regulatory compliance standards on Thursday, September 23, 2021, with another 18 scheduled to file papers by Friday, September 24. If they are finished, the total number of registered exchanges will be 28. These 28 companies include “The Big Four,” notably Upbit, Bithumb, Coinone, and Korbit, which together account for over 90% of all crypto asset trading volumes in South Korea.

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
Ten Korean cryptocurrency exchanges have met the deadline for registration

To prevent money laundering concerns, the Korea Internet and Security Agency (KISA) mandated certain security infrastructure from exchanges. Before the Financial Services Commission grants approval, relationships with local banks must be established. Gopax, Huobi Korea, and Gdac were unable to acquire banking relationships and would have had to shut down by September 24, 2021, at midnight. Probit and Problegatr are no longer in business. The Financial Services Commission has advised investors to withdraw assets from exchanges before the deadline, saying that they may be irreversibly lost if the exchange goes down.

NFT Project Will Donate 100% Of Profits To Aid Afghan Women In Getting An Education

According to Newsbtc, Bookblocks.io, an NFT firm, has collaborated with Women for Afghan Women, a New York-based organization, to help Afghan women gain access to education.

Fundamentalist militants have limited women’s access to school in Afghanistan under the new Taliban-led administration. Afghan women have flocked to the streets to protest after this event. More than a dozen women demonstrated outside the former Afghan Women’s Affairs Ministry, which the Taliban renamed the Department for the “Propagation of Virtue and Prevention of Vice.”

Swiss Authorities Impose Anti-Money Laundering Regulations | Bitcoin News
NFT Project Will Donate 100% Of Profits To Aid Afghan Women In Getting An Education

On October 5, Bookblocks.io stated that a non-fungible token will be released, with the revenues going to Women for Afghan Women (WAW). Women for Afghan Women is a grassroots civil society group in Afghanistan and New York devoted to preserving and advancing the rights of disadvantaged Afghan women and girls.

According to the business, Louisa May Alcott, a pioneer for women’s rights, was the inspiration for the NFT. “She was not only an enthusiastic feminist, abolitionist, and supporter of women’s suffrage in her many renowned works, but she was also an ardent feminist, abolitionist, and supporter of women’s suffrage. As a result, she felt like the ideal motivation for this month’s charity focus, which is committed to assisting Afghan women and girls in achieving equality in all aspects of life.”

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