Archiv der Kategorie: Bitcoin

Interview with Cédric O, Secretary of State for the French Digital Transition

In the context of the new regulations concerning the French crypto industry, we interviewed Cédric O, Secretary of State for Digital Transition and Electronic Communications. How does he perceive blockchain technology and its development in France?

How do you perceive blockchain technology?

Our societies and our economies are subject to significant and sometimes contradictory trends. Firstly, by extremely intense technological competition, which sees the whole world engaged in a kind of „arms race“, where the outcome will determine a large part of the prosperity but also the independence of the world’s major economies, especially Europe. Blockchain technologies are part of these disruptive technologies, with considerable areas of applications, from financial matters to energy, from food processing to cultural and creative industries. This is why it is important for Bruno Le Maire and myself that France is at the forefront. But like any innovation, blockchain is a dialectic between innovation and regulation. Innovation is built and grows by breaking with existing frameworks. But in order to thrive, it needs trust, and therefore needs to be regulated. The blockchain is still in the chiaroscuro, and this dialectic can be observed everywhere in the world. The knife edge is even more complicated to find because the increasing complexity of the problems is a challenge on its own for the authorities. But I am optimistic.

This Wednesday, December 9, 2020, France has made a new clampdown regarding crypto assets. How do you justify this toughening?

Crypto assets expose us to increasing risks of money laundering and terrorist financing (ML/TF). The dismantlement, last September, of a Daesh financing network combining crypto assets and electronic money transactions is a reminder of this reality. This is not a problem for France only: successive declarations by the Financial Action Task Force (FATF), the G7 and the G20 have also highlighted the increased risk of criminal misappropriation of crypto assets in the context of the health crisis and beyond. It is in this context that we have taken the ordinance of December 9, which was drawn up in consultation with the actors but also the national representative. The landing point strengthens controls, it’s true, but I would like to remind you that this measure will be completed in a decree that relaxes the conditions for using remote identification devices. The Ministry’s teams are in very regular contact with the ANSSI, the National Assembly and solution providers to ensure that [virtual asset service providers] VASPs will have services that meet their needs as early as this spring. We have therefore tried to find a balanced solution that meets both the security emergency and the operational concerns of the involved parties.wi

Europe is not yet in harmony on these policies; do you understand that some startups are seeking to delocalize to countries that are less restrictive towards crypto assets? And how do you intend to convince them to stay?

First of all, I would like to remind that France is far from being the only European Union country to have gone beyond the fifth anti-money laundering directive when it comes to cryptos. Quite the opposite. Germany and Great Britain have also decided to subject to the ML/TF the entities that offer crypto-crypto services. Denmark is also in the process of adopting such a regulation.

It seems to me that we need to take a holistic approach of the problem. I am the first, sometimes, to protest against the strict rules governing the exercise of financial activities in France. But I can’t help but notice that these rules are also what underpin the competitiveness of Paris, which is part of our country’s strength and at the same time allows us to stay ahead of Frankfurt when it comes to welcoming activities from London. This credibility is an advantage when it comes to creating very large international firms.

In addition, I would like to underline that all European players who wish to target the French market will be required to register with the AMF under the same conditions and deadlines as players established in France. This provision of the Pacte law, recalled by the ordinance of December 9, aims to restore similar competitive conditions on the French market for all companies. There is a strong awareness between Member States and the European Commission on the need to implement everywhere the same rules and procedures applicable to crypto industry. The Minister of Economy, Finance and Recovery will make concrete suggestions to the European Commission to extend the monitoring system established in France.

I would also like to mention that France is one of the rare countries to have a clear legal, fiscal and accounting framework for all the participants in the ecosystem. Furthermore, when possible, we have opted to implement optional measures, such as a visa for ICOs or approval for digital asset service providers. Only those who wish to do so can take the necessary steps. I also want to note that the ecosystem knows how to find high-quality contacts within the administration and supervisors (AMF and ACPR) who can support them in their projects. Finally, France has taken the lead in regulating these activities, which means that it is now influential in European discussions. There is a collective interest in French public authorities and private operators being able to be the driving force behind European regulations.

Chris Wood reduz ouro do fundo de pensão para BTC

Wood vai vender ouro por Bitcoin em um fundo de pensão do Jeffries Financial Group.

Esta é uma das primeiras vezes que um grande fundo de pensão investiu publicamente em criptomoeda.

Wood, que é o chefe global de estratégias da empresa, continua otimista em relação ao ouro.

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The Trust Project é um consórcio internacional de organizações de notícias que criam padrões de transparência.

Chris Wood, um executivo do Jeffries Financial Group, cortará parte da posição de ouro da empresa e comprará Bitcoin . A empresa de investimentos de um bilhão de dólares é uma das muitas grandes empresas financeiras que estão jogando seu capital no ringue pela criptomoeda favorita do mundo.

Ouro se torna ouro digital

Em 19 de dezembro de 2020, o Bitcoin atingiu um novo recorde histórico de mais de US $ 24.000 . Isso trouxe memórias da corrida de touros de 2017, mas com mais respaldo pelos fundamentos. Desde 2017, bancos e magnatas de Wall Street como Jamie Dimon do JP Morgan (JPM) fizeram 180’s sobre a tecnologia blockchain ou Bitcoin (BTC).

Portanto, desta vez, a cautelosa Wall Street está em jogo. Christopher Wood, chefe global de estratégia de ações da Jeffries, disse que sua empresa está comprando Bitcoin . Embora continue otimista com o ouro, ele estará reduzindo a posição de ouro da empresa em favor da moeda digital. Antes dessas mudanças, o fundo de Wood havia alocado cerca de 50% em ouro. Agora, 5% da alocação de ouro irá para o BTC.

Sats de pilha de fundos de pensão

Mais especificamente, a mudança na alocação de ouro acontecerá no portfólio global long only de Wood para fundos de pensão denominados em dólares americanos. Isso torna a mudança uma das primeiras e grandes alocações públicas para Bitcoin em um grupo de grandes fundos de pensão.

Este não é o primeiro investimento desse tipo. Aparentemente, a Noruega ganhou exposição ao Bitcoin para alguns de seus fundos de investimento estatais. Da mesma forma, Morgan Creek Digital, uma empresa que investe em empresas de blockchain, parece ser apoiada por fundos de pensão nos Estados Unidos .

Não apenas os fundos de pensão poderiam investir no Blockchian, mas o blockchain poderia ser usado para administrar fundos de pensão. Nada menos do que a se inscreveu para gerenciar seu sistema de pensões usando essa tecnologia.

Enquanto isso, em Jeffries, a empresa de $ 51 bilhões vê a criptografia como parte de sua estratégia maior. Wood diz que planeja aumentar a exposição à criptografia após o mercado ver uma correção.

Alguns estão vendo isso como o primeiro de muitos movimentos que podem elevar o preço do Bitcoin muito, muito mais. De acordo com a Weiss Crypto Ratings , o Bitcoin ainda não viu capital proveniente de grandes fundos de pensão ou seguradoras. Essas empresas comandam uma grande quantidade de capital e, caso embarquem na criptografia, o Bitcoin pode continuar subindo na água.

Goldmarkt bringt schlechte Nachrichten für Bitcoin: Ein potentielles Todeskreuz

Spot-Gold bewegt sich auf seinem Tages-Chart in Richtung der Bildung eines „Todeskreuzes“, was seine anhaltende Abwärtskorrektur in einen vollwertigen Bärentrend umwandeln könnte.

Ein „Todeskreuz“ entsteht, wenn der kurzfristige gleitende Durchschnitt eines Vermögenswertes unter seinen langfristigen gleitenden Durchschnitt fällt. Viele Analysten und Strategen betrachten das Todeskreuz als Zeichen einer Ausverkaufswelle, die zu einer langfristigen Abwärtsbewegung führt.

Gemäß der obigen Tabelle liegt das Rekordhoch von Bitcoin Bank irgendwo in der Nähe seines 1,1382 Fib-Niveaus – etwa 25.000 $. Aber die Krypto-Währung riskiert eine Korrektur nach unten, nachdem sie es erreicht hat, genauso wie Gold, nachdem es sein Allzeithoch bei 2.075 $ erreicht hatte. Die Analogie leitet sich aus der sichtbaren Ähnlichkeit zwischen den früheren Preistrends des Vermögenswertes ab.

Gold riskiert, nach einem Rückgang um 80 Dollar das Todeskreuz zu bilden.

Gegenwärtig liegt der gleitende 50-Tage-Durchschnitt (50-DMA) von Gold bei $1.880, während der gleitende 200-Tage-Durchschnitt bei $$1.801 liegt. Der jüngste Rückgang des Edelmetalls nach einer Flut positiver COVID-19-Impfstoffberichte deutet darauf hin, dass das Metall die Lücke von $ 79 zwischen seinen gleitenden Durchschnitten zumindest bis zum nächsten Quartal schließen und damit ein Todeskreuz bilden könnte.


Eine rückläufige Entwicklung auf dem Goldmarkt könnte Bitcoin einem ähnlichen Abwärtsrisiko aussetzen.

Im Nachhinein betrachtet, hinkt das Flaggschiff der Krypto-Währung dem Edelmetall hinterher, jedoch mit unterschiedlichen Zeitrahmen. Im Jahr 2020 hat der BTC/USD-Wechselkurs in einem wöchentlichen Zeitrahmen gezeigt, dass der XAU/USD-Wechselkurs auf den Monatscharts hinter dem XAU/USD-Wechselkurs zurückbleibt.

TradingShot, ein unabhängiges Analyse-Unternehmen, erkannte die Ähnlichkeit zuerst anhand der Fibonacci-Retracement-Levels und der Relative-Stärke-Indizes.

Bitcoin-Gold-Korrelation seit September 2018 (Screenshot vom 25. November).

Bitcoin zeigt bereits Anzeichen einer Korrektur, nachdem es am 30. November mit 19.873 $ sein bisher bestes Niveau erreicht hatte (Daten von Coinbase). Sie ist nun um bis zu 7,74 Prozent gesunken und hält 19.000 $ als vorläufige Unterstützung für die nächste Etappe bis zu 20.000 $ und darüber hinaus.

Bullen nach oben

Sicherlich erwarten viele zinsbullische Investoren immer noch, dass sowohl Gold als auch Bitcoin weiter steigen werden, solange die Zentralbanken weltweit weiterhin Geld drucken, um Liquidität in ihre vom Virus betroffenen Volkswirtschaften zu injizieren. In der Zwischenzeit hat die Benchmark Federal Reserve bereits zugesagt, die Zinssätze nahe Null zu halten und Staatsanleihen so lange wie nötig zu kaufen.

Das veranlasst Investoren grundsätzlich dazu, ihr Kapital von schlecht verzinslichen Schulden und Bargeldinstrumenten in risikoreichere Safe-Havens wie Aktien, Gold und Bitcoin zu verlagern.

Ich bin bei Bitcoin so optimistisch wie jeder andere, aber rückblickend besteht eine hohe Wahrscheinlichkeit, dass dies die Talsohle bei den Edelmetallen markieren wird“, sagte Florian Kössler, Leiter der Strategie bei Friedrich & Partner. „Aus spieltheoretischer Sicht würde ich empfehlen, Bitcoin, Gold und Silber zu besitzen.

To tax Bitcoin and cryptos, the OECD wants a common framework – And that doesn’t bode well

The Organization for Economic Co-operation and Development (OECD) will be proposing a tax framework for cryptoassets to its 37 member countries from 2021.

A standard to better tax your cryptos

The OECD’s mission is „to promote policies that will improve economic and social well-being around the world „. And for this, the organization has its Center for Tax Policy and Administration . In particular, it is responsible for promoting the exchange of Bitcoin Freedom between the tax authorities of member countries. But it also issues conventions aimed at harmonizing their taxes (fiscal federalism) in order to fight against tax evasion.

The best known is the OECD model convention on the exchange of information in tax matters, or CRS (for Common Reporting Standard ). These recommendations in particular have been limiting bank secrecy since 2005.

According to the director of the Center for Tax Policy and Administration, Pascal Saint-Amans , a similar framework will be introduced for cryptos in 2021:

Basically, the idea is to have a standard that would be roughly equivalent to CRS, if not CRS. It will most likely be delivered sometime in 2021.

Pascal Saint-Amans

This standard will not contradict the directives of entities such as the European Commission, according to Saint-Amans.

Taxes, everyone agrees

For its part, the European Union is seeking to amend its Directive on administrative cooperation in tax matters ( DAC ). His proposal was published on November 23.

According to Saint-Amans, this amendment will be in accordance with the recommendations of the OECD:

The OECD proposal will be “complementary” to ongoing work within the EU. But the OECD is likely to set its standard before the EU. This will be an opportunity for the EU to align with our standard. […] The right comparison is not the Digital Services Directive, but rather all the many directives where the EU has implemented OECD standards. The seventh version of the DAC Act is an example of these, very much in line with what we are doing.

„No es mi taza de té“: Jamie Dimon todavía no es un fan de Bitcoin

El CEO de JPMorgan Chase, Jamie Dimon, dijo que crypto engine tendrá un papel fundamental en el futuro de las finanzas, incluso si bitcoin, la cripto-moneda líder del mercado que hizo famosa a blockchain, no es su „taza de té“.

Hablando en la Conferencia DealBook del New York Times el miércoles, Dimon reiteró el apoyo de JPMorgan a la tecnología de las cadenas en bloque como un mecanismo financiero potencialmente transformador.

„La cadena de bloques en sí misma será crítica para permitir a la gente mover el dinero alrededor del mundo más barato“, dijo. (Su banco hizo olas recientemente con el lanzamiento de su „Moneda JPM“ para los pagos bancarios al por mayor). „Siempre apoyaremos la tecnología de la cadena de bloques.“

Pero Dimon se negó a ceder en su oposición a bitcoin (BTC, +1.73%).

Repitió su antigua creencia de que los gobiernos finalmente la regularán más fuertemente (algo de lo que se hizo eco recientemente su colega multimillonario Ray Dalio). La supervisión es inevitable para algo tan grande, dijo.

Aún así, Dimon reconoció que „gente muy inteligente“ está comprando la cripto moneda con la creencia de que superará al oro, al dólar estadounidense y a los bonos del Tesoro de los Estados Unidos.

„Déjalos hacer eso“, dijo. „No es lo mío“.

Ethereum 2.0 confirmed for December 1st: threshold exceeded hours before expiry

Only nine hours before the Ethereum deposit contract expired, the required threshold of 524,288 ethers was reached.

With this, ETH 2.0 comes on December 1st

The start of ETH 2.0 was scheduled for 1.12. confirmed after 524,288 ethers ( ETH ) were transferred from 16,384 validators to the ETH 2.0 deposit contract , since this on November 4. opened.

Despite initial concerns about low staking participation, transfers to the deposit contract increased rapidly over the last day. Over 200,000 ETH has been paid into the contract in the last 14 hours.

Ether in the deposit contract: Dune Analytics

The Ethereum 2.0 chain is now set to go online at the earliest possible start date, December 1st. This will happen automatically seven days after the threshold is reached.

Participants can only have their coins paid out again in phase 1.5 of ETH 2.0. In this, the Ethereum mainnet is merged with the ETH2 chain and the split environment. Many hodlers are waiting for third parties to introduce staking services that offer a withdrawal feature. However, the risk of exit fraud is very high.

The threshold set in the deposit contract was reached about nine hours before the deadline.

Pakistan: SECP pubblica il rapporto esplorativo sui regolamenti crittografici

Un fonte ufficiale mostra che il regolatore finanziario pakistano sta lavorando per regolamentare le criptovalute.

Pakistan che sviluppa un quadro normativo crittografico

Secondo a rapportodi Finance Magnets ,Del Pakistan il regolatore finanziario – la Securities and Exchange Commission of Pakistan (SECP) – sta lavorando per sviluppare un quadro normativo per le risorse digitali.

Recentemente, il Crypto Bank ha pubblicato un documento sulle risorse digitali private, in cui afferma che „accoglie qualsiasi input / commento“.

Secondo il documento ufficiale, il SECP sta valutando la creazione di una „definizione per riconoscere le risorse digitali in Pakistan“. Inoltre, cerca di trovare una „via da seguire per progettare e sviluppare un solido regime normativo alla pari con il mondo per la regolamentazione delle risorse digitali“ e di „presentare proposte politiche ai partecipanti del settore e alle parti interessate“.

Detto questo, vale la pena notare che il documento del SECP non contiene da nessuna parte informazioni sui piani per la creazione di una valuta digitale della banca centrale pakistana (CBDC). In particolare, tuttavia, il Pakistan ha precedentemente dichiarato di voler creare un CBDC funzionale entro il 2025.

Per chi non lo sapesse, il CBDC è essenzialmente una forma di valuta sovrana digitalizzata controllata dalla banca centrale di un paese o di uno stato. Di recente, diversi paesi, comeCina, Giappone, Corea del Sud, e il UK, tra gli altri, hanno fatto incursione nello spazio CBDC.

Quali sono le opzioni?

Nel documento, il SECP afferma che le risorse digitali sono „l’inizio di una nuova era della finanza digitale“ e che la loro regolamentazione „potrebbe essere possibile solo con l’inizio di una nuova era che reinventa il regime normativo [o] le misure sono noti ai regolatori di tutto il mondo oggi. “

In particolare, il documento evidenzia due approcci specifici per regolamentare le risorse digitali.

Il primo di questi approcci sostiene „la regolamentazione e la limitazione dei nuovi prodotti in base alle normative esistenti e, in alcuni casi, può persino comportare il divieto totale“. In base a questo approccio, afferma il documento, „gli innovatori sono obbligati ad adattarsi al contesto normativo prevalente“.

In alternativa, il secondo approccio si basa in gran parte sulla congettura di „lasciare che le cose accadano“. Questo approccio, quello del Laissez-Faire, comporta una minima interferenza governativa o normativa ed è più un approccio „aspetta e osserva“ in cui le normative vengono sviluppate dopo aver osservato attentamente il comportamento del mercato per un periodo di tempo considerevole.

Bitcoin Mining this week: the 5 most important news

If you missed the details related to this week’s Bitcoin mining, you should not miss this summary. It’s a selection of the 5 most important events of the last 7 days in this business.

Being a growing business, the mining of the main crypto currencies, becomes a permanent source of information. Many of these news items are ongoing events. For example, the recovery of the Bitcoin hashrate, takes two consecutive weeks.

At the same time, other minable digital currencies such as ETH are a permanent source of news. That’s why the goal of this summary is to select the events that have set important guidelines throughout the development of the extraction of the most important coins, led by Bitcoin.
The 5 most important news of the week in Bitcoin mining

The increase in the price of Crypto Engine app has generated great changes during the week in all areas, including mining. It’s important to keep in mind that the price of Bitcoin influences the behavior of other crypto currencies. Here are the 5 most important news related to this:

Obsolete Bitcoin mining equipment is reborn after a price increase.
China’s leadership in mining is destined to disappear.
Binance Pool will now allow its users to mine ETH.
Bitcoin commissions are down due to mempool decongestion.
AMD graphics card would be better than NVIDIA’s best.

Bitcoin’s high price has been a determining factor in all the events related to crypto currencies during the week, including digital mining. Source: TradingViewThe high price of Bitcoin has been a determining factor in all the events related to crypto currencies during the week, including digital mining. Source: TradingView

New Binance pool will allow ETH mining

S9 and other old computers, reborn after Bitcoin upload

Bitmain’s legendary S9 and other mining equipment came back to life this week, thanks to Bitcoin’s solid price tag. Many of these ASICs, after last May’s Halving, were considered obsolete in most of the world, with rare exceptions.

The cost of electricity, compared to generating Bitcoin from them, put them in the condition of negative performance machines. However, the escalation in the price of the most popular of the crypto currencies, made them revive, and they have begun to be reconnected, mainly in China.

In China, the cost of energy is, on average, $0.06 per kilowatt per hour. This means that with a Bitcoin above $15,000, many miners, 10 TH/s and up, can be profitable. In this field, the most popular and resistant is the legendary S9.

China’s Hegemony in Mining Could End

China is the country with the highest Bitcoin computing power, in its territory mining farms represent 65% of the world hashrate. However, the tendency to revert this dominance seems to be gaining strength as the business expands across the planet.

Last July, some reports showed that the computing power in China was decreasing very fast. At the same time, other places in the world, such as Canada or the Nordic countries, are experiencing significant growth in Bitcoin mining infrastructure.

Another thing to consider is the instability. Although China has one of the strongest political systems, tightly controlled by the Communist Party, its drastic changes of heart can lead to bans at some point. These are some of the reasons why Beijing’s hegemony over Bitcoin hashrate may have an expiration date.

Obsolete Bitcoin mining equipment comes back to life

It is now possible to mine ETH in the Binance Pool

Last Friday, the most important exchange in the world, Binance, announced that its users could now mine ETH. The expansion of Binance Pool, which now includes Bitcoin and Ethereum, is a step by this firm to continue occupying ground in the crypto universe.

Although the most orthodox cryptology enthusiasts see this centralization as dangerous, others see it as a good thing. The latter is due to the fact that, during the first month, the pool will offer zero commissions for cryptomoney transactions.


Crypto & Bitcoin-Updates für die Wahlsaison – 5. November 2020

Crypto & Bitcoin Updates – 5. November 2020: Als US-Präsident, Senat und House in vollem Gange – mit hoher Unsicherheit, wer das Weiße Haus 2 volle Tage nach der Besetzung des ersten persönlichen Balletts gewann, der Crypto & Bitcoin-Markt ließ wenig Zweifel, wer die Gewinner sind. Im Folgenden finden Sie einige gute Neuigkeiten, die Ihnen helfen sollen, Ihre Wahlängste zu überwinden.

Wahlfieber? Bitcoin steigt um 9% und handelt in der Nähe von 15.000 USD

Bitcoin (BTC) und der gesamte Markt für Kryptowährungen stehen heute in Flammen. Die erste Kryptomünze legte um 9% zu und näherte sich in weniger als 24 Stunden fast 16.000 USD. Das bessere Zeichen dafür, dass Bitcoin bullisch ist und sein Aufwärtsmuster fortsetzen wird, ist die Tatsache, dass es in den letzten 7 Tagen um 10% gestiegen ist, während des 90-Tage-Zeitraums um 27,3%.

Der Bitcoin-Preis blieb in den letzten 100 Tagen über 10.000 USD. Innerhalb eines Tages wurden dem Kryptomarkt 125 Milliarden US-Dollar hinzugefügt. Der Gesamtwert liegt zum Zeitpunkt dieser Veröffentlichung bei 430 Milliarden US-Dollar.

Mike McGlone, Senior Commodity Strategist bei Bloomberg, schrieb auf Twitter mit der Gewissheit, dass Bitcoin Code im Jahr 2021 das „parabolische“ Niveau erreichen wird.

„Bitcoin könnte wie in den Jahren 2013 und 2017 ein parabolisches Jahr 2021 durchlaufen , wenn sich frühere Muster erneut abspielen. Neue Höchststände sind eine nächste mögliche Wiederholung und möglicherweise nur eine Frage der Zeit, es sei denn, etwas, das wir nicht vorhersehen, lässt den Trend zu größerer Akzeptanz und Nachfrage im Vergleich zu begrenztem Angebot aufkommen. „

Die Preise für Ethereum, Ripples XRP, Chainlink und Litecoin steigen auf ein neues Niveau
Bitcoin hat den Ruf, die Preise der meisten Altcoins zu erhöhen, wenn es plötzlich ansteigt und umgekehrt. Jede einzelne Münze in den Top 10; bezogen auf die Marktkapitalisierung hat sich zu einem Preis gesehen Schwall zwischen 5-14%. Ripple der XRP ; die viertgrößte virtuelle Währung; nach Marktkapitalisierung wird derzeit bei 0,2425 USD gehandelt.

Das sind mehr als 5% in 24 Stunden. Das Smart Contracts-Projekt Chainlink (LINK) und einer der ältesten Wettbewerber von Bitcoin, Litecoin (LTC), legten im gleichen Zeitraum zwischen 5% und 14% zu.

Seidenstraße gestohlen Bitcoin bewegt

Update: Es wird berichtet, dass das Justizministerium der Vereinigten Staaten das 69.369 Bitcoin im Wert von 1 Mrd. USD beschlagnahmt hat. Wir werden Sie auf dem Laufenden halten, sobald weitere Neuigkeiten eingehen.

Bitcoin im Wert von über 1 Milliarde US-Dollar, das von der Seidenstraße gestohlen wurde; Der frühe und illegale Dark-Web-Marktplatz hat sich in den letzten Stunden bewegt. 69.369 Bitcoins wurden von “ 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx “ übertragen , eine Bitcoin-Adresse gehört einem der mutmaßlichen Hacker.

Gemini crypto exchange: partnership with UK crypto payment processor

Gemini crypto exchange is streamlining fiat transfers for UK customers.

The crypto exchange Gemini from the Winklevoss twins is further expanding its regulated services for customers in the UK

On October 12th, Gemini announced a partnership with the BCB Group. BCB Group is a European crypto payment processor that already works with major platforms such as Coinbase, Bitstamp and Galaxy Digital.

BCB Group focuses on institutional payment services, offering business accounts and crypto market liquidity for „crypto-engaged“ financial institutions. A key subsidiary of the group was officially recognized as an Authorized Payment Institution (API) by the UK Financial Regulator earlier this year.

As part of the collaboration with BCB Group, Gemini in the UK aims to offer its customers faster options for sending and receiving British pounds. The exchange will be connected to the BCB API. This simplifies the interaction of Gemini with various banks and fiat currencies and reduces the need for manual intervention in transaction processing.

The development will help Gemini to „secure access to real-time settlement infrastructure and enable us to integrate with our banking partners,“ said Blair Halliday, Head of Compliance for Europe at Gemini. A spokesman for the exchange told Cointelegraph that UK customers of Gemini can use the payment system Faster Payments, CHAPS and SWIFT transfers to make deposits and withdrawals in pounds and link their debit cards to Gemini accounts:

In particular, integrating with the BCB Group’s API will allow us to streamline the steps involved in processing these transfers to and from customer accounts

Gemini has expanded this year to Britain, where it by the FCA as registered crypto-asset company was recognized . The exchange had to meet certain conditions related to combating money laundering and terrorist financing. It has also obtained a license as an e-money institution in the country.