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Multimedia Archives - We Greece https://wegreece.com.gr/category/multimedia/ Tue, 09 Mar 2021 09:43:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.5 https://wegreece.com.gr/wp-content/uploads/2023/01/cropped-WE-FAVICOM-32x32.png Multimedia Archives - We Greece https://wegreece.com.gr/category/multimedia/ 32 32 Six million new users in cryptocurrency services in two months https://wegreece.com.gr/en/six-million-new-users-in-cryptocurrency-services-in-two-months/ https://wegreece.com.gr/en/six-million-new-users-in-cryptocurrency-services-in-two-months/#respond Thu, 11 Mar 2021 08:00:42 +0000 https://wegreece.com.gr/?p=6604 In 2020, Robinhood’s cryptocurrency division had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post. Nearly 6 million new users have signed up for cryptocurrency services in the first two months of 2021 amid a surge in trading volume and sharp fluctuations in cryptocurrency prices such as Bitcoin and Dogecoin, according to a statement from renowned digital trading platform Robinhood February 25, 2021, cited by a Reuters article. In 2020, Robinhood cryptocurrency services had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post A Robinhood spokesman declined to comment on the total amount of customers trading in the cryptocurrency market through the app, which also offers stock and options trading. The records The price of Bitcoin increased by more than 300% in 2020 and this month reached a high of $ 58,354 while the market capitalization jumped from $ 1 trillion. Dogecoin has also driven a crazy rally driven by the frenzy of micro-investor trading fueled by social media that has pushed up the stock of companies like GameStop. Fluctuations Dogecoin was created largely to satirize the 2013 cryptocurrency frenzy, it is still traded and its price fluctuates widely. A tweet earlier this month by billionaire businessman Elon Musk in support of Dogecoin led the currency to rise more than 60%. Services Robinhood currently allows customers to buy, sell and hold cryptocurrencies and recently stated that it intends to enable customers to retain and withdraw them in order to transfer them to other “wallets”. In January, Robinhood angered some of its customers when it temporarily disabled a feature in its app that allowed users to buy instant batteries due to the investment frenzy that accompanied the GameStop case. Robinhood is expected to make an initial IPO valuation of more than $ 20 billion this year. Source: https://www.bankingnews.gr/kriptonomismata/articles/548701/robinhood-eksi-ekatommyria-neoi-xristes-stis-ypiresies-kryptonomismaton-se-dyo-mines?fbclid=IwAR0Lh5a616oVoqWoPzQoWDU06DqaG1Yvj7pQ1alFl5_H7zkAOymYvqCMgb0

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]]> In 2020, Robinhood’s cryptocurrency division had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post.

Nearly 6 million new users have signed up for cryptocurrency services in the first two months of 2021 amid a surge in trading volume and sharp fluctuations in cryptocurrency prices such as Bitcoin and Dogecoin, according to a statement from renowned digital trading platform Robinhood February 25, 2021, cited by a Reuters article.
In 2020, Robinhood cryptocurrency services had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post

A Robinhood spokesman declined to comment on the total amount of customers trading in the cryptocurrency market through the app, which also offers stock and options trading.

The records

The price of Bitcoin increased by more than 300% in 2020 and this month reached a high of $ 58,354 while the market capitalization jumped from $ 1 trillion.
Dogecoin has also driven a crazy rally driven by the frenzy of micro-investor trading fueled by social media that has pushed up the stock of companies like GameStop.

Fluctuations

Dogecoin was created largely to satirize the 2013 cryptocurrency frenzy, it is still traded and its price fluctuates widely.
A tweet earlier this month by billionaire businessman Elon Musk in support of Dogecoin led the currency to rise more than 60%.

Services

Robinhood currently allows customers to buy, sell and hold cryptocurrencies and recently stated that it intends to enable customers to retain and withdraw them in order to transfer them to other “wallets”.
In January, Robinhood angered some of its customers when it temporarily disabled a feature in its app that allowed users to buy instant batteries due to the investment frenzy that accompanied the GameStop case.
Robinhood is expected to make an initial IPO valuation of more than $ 20 billion this year.

Source: https://www.bankingnews.gr/kriptonomismata/articles/548701/robinhood-eksi-ekatommyria-neoi-xristes-stis-ypiresies-kryptonomismaton-se-dyo-mines?fbclid=IwAR0Lh5a616oVoqWoPzQoWDU06DqaG1Yvj7pQ1alFl5_H7zkAOymYvqCMgb0

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]]> https://wegreece.com.gr/en/six-million-new-users-in-cryptocurrency-services-in-two-months/feed/ 0 2021 will be an important year for the issuance of the digital dollar https://wegreece.com.gr/en/2021-will-be-an-important-year-for-the-issuance-of-the-digital-dollar/ https://wegreece.com.gr/en/2021-will-be-an-important-year-for-the-issuance-of-the-digital-dollar/#respond Tue, 09 Mar 2021 09:35:05 +0000 https://wegreece.com.gr/?p=6601 Fed Chairman J. Powell, speaking at a Senate committee hearing, pledged to involve the public in a digital currency debate, and said he would need congressional approval to move the bill forward. The assurance that a broad public debate will take place on the issuance of the digital dollar by the US Federal Reserve was given by the head of the Federal Reserve Jerome Powell, during the second day of his congressional hearing on Wednesday, February 24, 2021. The reservations Whenever an elected official in Congress asks US Federal Reserve Chairman Jerome Powell about the issue of the digital dollar, the response he receives emphasizes the attention to be paid to this important monetary innovation and the risk inherent in stability of the US financial system, commented in a post by coindesk.com. At the same time, he pointed out in a Reuters report, he pointed out that they will need special approval from Congress as the mandate or mandate of the Central Bank, which includes control over the circulation of the currency, which is the main instrument for the conduct of monetary policy. The project However, Powell went further than any of his predecessors during his hearing in the Senate Finance Committee, noting that the US Federal Reserve will be “engaged in a dialogue with the public” about the digital dollar in 2021, giving for the first time times a schedule for the central bank digital currency issue plan. “This is going to be an important year,” Powell said of the digital dollar project. Consultations “This will be the year we work with the public quite actively, including some of the public consultations we are planning.” Powell stressed that the Fed will not make decisions and then present them to the public, but will talk to the Americans about the consequences of the adoption of the digital dollar in the payment system and elsewhere. “There are both policy and technical issues that raise very important questions,” Powell said. “We will have a public debate; in the meantime we are working to address the technical challenges, and we are sharing our concerns with the rest of the central banks around the world,” he said. He concluded that the central bank will be careful to design the digital dollar in a way that will not “undermine υγι the healthy functioning of the market” Source: https://www.bankingnews.gr/kriptonomismata/articles/548461/powell-fed-ipa-to-2021-tha-einai-simantiko-etos-gia-tin-ekdosi-tou-psifiakoy-dolariou?fbclid=IwAR1co6XKblgLhzxyPiVHfU58RP2EEBtX_EFAv_E_NenIesMb3tjLVxSo82s

The post 2021 will be an important year for the issuance of the digital dollar appeared first on We Greece.

]]> Fed Chairman J. Powell, speaking at a Senate committee hearing, pledged to involve the public in a digital currency debate, and said he would need congressional approval to move the bill forward.

The assurance that a broad public debate will take place on the issuance of the digital dollar by the US Federal Reserve was given by the head of the Federal Reserve Jerome Powell, during the second day of his congressional hearing on Wednesday, February 24, 2021.

The reservations

Whenever an elected official in Congress asks US Federal Reserve Chairman Jerome Powell about the issue of the digital dollar, the response he receives emphasizes the attention to be paid to this important monetary innovation and the risk inherent in stability of the US financial system, commented in a post by coindesk.com.
At the same time, he pointed out in a Reuters report, he pointed out that they will need special approval from Congress as the mandate or mandate of the Central Bank, which includes control over the circulation of the currency, which is the main instrument for the conduct of monetary policy.

The project

However, Powell went further than any of his predecessors during his hearing in the Senate Finance Committee, noting that the US Federal Reserve will be “engaged in a dialogue with the public” about the digital dollar in 2021, giving for the first time times a schedule for the central bank digital currency issue plan.
“This is going to be an important year,” Powell said of the digital dollar project.

Consultations

“This will be the year we work with the public quite actively, including some of the public consultations we are planning.”
Powell stressed that the Fed will not make decisions and then present them to the public, but will talk to the Americans about the consequences of the adoption of the digital dollar in the payment system and elsewhere.
“There are both policy and technical issues that raise very important questions,” Powell said.
“We will have a public debate; in the meantime we are working to address the technical challenges, and we are sharing our concerns with the rest of the central banks around the world,” he said.
He concluded that the central bank will be careful to design the digital dollar in a way that will not “undermine υγι the healthy functioning of the market”

Source: https://www.bankingnews.gr/kriptonomismata/articles/548461/powell-fed-ipa-to-2021-tha-einai-simantiko-etos-gia-tin-ekdosi-tou-psifiakoy-dolariou?fbclid=IwAR1co6XKblgLhzxyPiVHfU58RP2EEBtX_EFAv_E_NenIesMb3tjLVxSo82s

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]]> https://wegreece.com.gr/en/2021-will-be-an-important-year-for-the-issuance-of-the-digital-dollar/feed/ 0 American Institute for Economy Research: International Accounting Standards Not Enough for Cryptocurrencies https://wegreece.com.gr/en/american-institute-for-economy-research-international-accounting-standards-not-enough-for-cryptocurrencies/ https://wegreece.com.gr/en/american-institute-for-economy-research-international-accounting-standards-not-enough-for-cryptocurrencies/#respond Mon, 01 Mar 2021 08:22:33 +0000 https://wegreece.com.gr/?p=6551 Accounting standards developed for the 20th century cannot evaluate and evaluate 21st century cryptocurrencies, according to the American Institute for Economy Research. Bitcoin has evolved a lot from the first days it was created until today, it has been transformed from a movement into an investment tool with the valuation now exceeding 1 trillion. dollars. Now Bitcoin and other cryptocurrencies have created an alternative system of financial investments and payments. An issue that has not yet been addressed One issue that has not yet been addressed is the valuation of cryptocurrencies. Companies around the world rely on international or national accounting standards, they are the rules of valuation and analysis of assets. But cryptocurrency accounting as it stands today has no meaning or correlation for businesses. There are currently no widely accepted valid accounting guidelines for cryptocurrencies. Some specific countries have implemented unique approaches that stand out, but these are not widely adopted outside of these countries. In the world of accounting, the two standard-setting bodies are the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). It is true that the IASB has proven to be more flexible in terms of accounting encryption but there are no authentic standards for this purpose. In the US, and despite significant efforts by the American CPA Institute (AICPA) to publish unauthorized research, the FASB has so far refused to address the issue of cryptocurrency accounting guidance. Because there are no valid standards, the view has been developed that cryptocurrencies should be treated as an intangible asset of indefinite duration (such as goodwill). At first glance, all this looks good as cryptocurrencies are intangible and do not have a set expiration date. But analyzing the data quickly reveals how inappropriate this classification is for cryptocurrencies. According to the accounting rules for intangible assets of indefinite duration, these assets are kept in the balance sheet at the price paid (investment cost) less any impairment charges. Impairment, without becoming overly technical, is a process by which assets are valued to determine whether or not the carrying amount reflects market value. If the market value has decreased, the asset is reduced and an expense is recorded in the balance sheet. According to US accounting standards, there is another side to remember. Once an asset has been impaired, it cannot be inventoried regardless of what is happening in the market. This accounting may be good for goodwill, but it does not work for cryptocurrencies. According to this approach, any organization that invests in cryptocurrencies should record this investment in costs and change it whenever conditions lead to impairment or increase, this is not possible. Cryptocurrencies are still a volatile market, e.g. in 2021 there were double-digit percentage changes in prices for Bitcoin and countless other cryptocurrencies. Possible solutions There are two possible solutions that could eventually be applied to companies’ balance sheets given the large fluctuations and valuations of cryptocurrencies. First choice To treat cryptocurrencies as a commodity-like medium. It would allow changes in market value to be reported as they appear on the balance sheet and to be reported in the income statement (or as other income). Applying this approach, modifying existing standards to reflect a new asset class, will increase transparency Second choice A second option, and one that in a perfect world would already be in progress, is to develop entirely new standards for this completely new asset class. Obviously this would take more time, it would require high levels of cooperation, but the new regulatory framework could make sense. Classifying different cryptocurrencies according to the case of use (currency alternative, commodity equivalent or equity instrument) would allow new investors to enter. Accounting professionals need to learn to live and work with encryption and standard accounting standards need to change to incorporate new trends. Applying standards developed for the 20th century economy to assets that now include cryptocurrencies is unrealistic. The issue needs to be fixed to avoid future problems Πηγή: https://www.bankingnews.gr/kriptonomismata/articles/547831/american-institute-for-economy-research-ta-diethni-logistika-protypa-den-eparkoyn-gia-ta-kryptonomismata?fbclid=IwAR0X–Z3unbQSJRiZRuGJAL4g6oE5qXJq9_HOma4Ibfly9lhFgFhQhbxvLI

The post American Institute for Economy Research: International Accounting Standards Not Enough for Cryptocurrencies appeared first on We Greece.

]]> Accounting standards developed for the 20th century cannot evaluate and evaluate 21st century cryptocurrencies, according to the American Institute for Economy Research.
Bitcoin has evolved a lot from the first days it was created until today, it has been transformed from a movement into an investment tool with the valuation now exceeding 1 trillion. dollars.
Now Bitcoin and other cryptocurrencies have created an alternative system of financial investments and payments.

An issue that has not yet been addressed

One issue that has not yet been addressed is the valuation of cryptocurrencies.
Companies around the world rely on international or national accounting standards, they are the rules of valuation and analysis of assets.
But cryptocurrency accounting as it stands today has no meaning or correlation for businesses.
There are currently no widely accepted valid accounting guidelines for cryptocurrencies.
Some specific countries have implemented unique approaches that stand out, but these are not widely adopted outside of these countries.
In the world of accounting, the two standard-setting bodies are the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
It is true that the IASB has proven to be more flexible in terms of accounting encryption but there are no authentic standards for this purpose.
In the US, and despite significant efforts by the American CPA Institute (AICPA) to publish unauthorized research, the FASB has so far refused to address the issue of cryptocurrency accounting guidance.
Because there are no valid standards, the view has been developed that cryptocurrencies should be treated as an intangible asset of indefinite duration (such as goodwill). At first glance, all this looks good as cryptocurrencies are intangible and do not have a set expiration date.
But analyzing the data quickly reveals how inappropriate this classification is for cryptocurrencies.
According to the accounting rules for intangible assets of indefinite duration, these assets are kept in the balance sheet at the price paid (investment cost) less any impairment charges.
Impairment, without becoming overly technical, is a process by which assets are valued to determine whether or not the carrying amount reflects market value.
If the market value has decreased, the asset is reduced and an expense is recorded in the balance sheet.
According to US accounting standards, there is another side to remember.
Once an asset has been impaired, it cannot be inventoried regardless of what is happening in the market.
This accounting may be good for goodwill, but it does not work for cryptocurrencies.
According to this approach, any organization that invests in cryptocurrencies should record this investment in costs and change it whenever conditions lead to impairment or increase, this is not possible.
Cryptocurrencies are still a volatile market, e.g. in 2021 there were double-digit percentage changes in prices for Bitcoin and countless other cryptocurrencies.

Possible solutions

There are two possible solutions that could eventually be applied to companies’ balance sheets given the large fluctuations and valuations of cryptocurrencies.

First choice

To treat cryptocurrencies as a commodity-like medium.
It would allow changes in market value to be reported as they appear on the balance sheet and to be reported in the income statement (or as other income).
Applying this approach, modifying existing standards to reflect a new asset class, will increase transparency

Second choice

A second option, and one that in a perfect world would already be in progress, is to develop entirely new standards for this completely new asset class.
Obviously this would take more time, it would require high levels of cooperation, but the new regulatory framework could make sense.
Classifying different cryptocurrencies according to the case of use (currency alternative, commodity equivalent or equity instrument) would allow new investors to enter.
Accounting professionals need to learn to live and work with encryption and standard accounting standards need to change to incorporate new trends.
Applying standards developed for the 20th century economy to assets that now include cryptocurrencies is unrealistic.
The issue needs to be fixed to avoid future problems

Πηγή: https://www.bankingnews.gr/kriptonomismata/articles/547831/american-institute-for-economy-research-ta-diethni-logistika-protypa-den-eparkoyn-gia-ta-kryptonomismata?fbclid=IwAR0X–Z3unbQSJRiZRuGJAL4g6oE5qXJq9_HOma4Ibfly9lhFgFhQhbxvLI

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]]> https://wegreece.com.gr/en/american-institute-for-economy-research-international-accounting-standards-not-enough-for-cryptocurrencies/feed/ 0 Apple updates iOS to fix crypto wallet security vulnerabilities https://wegreece.com.gr/en/apple-updates-ios-to-fix-crypto-wallet-security-vulnerabilities/ https://wegreece.com.gr/en/apple-updates-ios-to-fix-crypto-wallet-security-vulnerabilities/#respond Fri, 26 Feb 2021 10:57:55 +0000 https://wegreece.com.gr/?p=6547 Apple has issued new security updates for its mobile operating system after the iPhone maker discovered vulnerabilities that could compromise cryptocurrency wallets. The security updates, which were released Tuesday, affect iOS 14.4 and iPadOS 14.4. The vulnerabilities reportedly allowed hackers to gain remote access to a target system, thereby exposing the user’s cryptocurrency wallet. Pete Kim, Coinbase’s head engineer, warned iPhone users to update their operating system immediately. “If you are using a mobile crypto wallet on an iOS device, be sure to update iOS as soon as possible!” Kim tweeted Tuesday. “The update includes a fix for a remote arbitrary code execution vulnerability that may have been actively exploited.” Coinbase’s mobile wallet is the 13th most downloaded finance app on the Apple Store. Apple’s security updates are available for iPhone 6s and later, iPad Air 2 and later, iPad Mini 4 and later and the seventh-generation iPad Touch. The company said that the vulnerabilities “may have been actively exploited” by malicious actors. Mobile wallets are a popular way for crypto users to store and transfer their digital assets. They also make it easier to spend cryptocurrency on everyday items. Crypto infrastructure has been a primary target for hackers over the years, but the extent of the attacks has declined considerably. As Cointelegraph reported in November 2020, crypto-related attacks declined sharply over the course of 2020. Πηγή: https://cointelegraph.com/news/apple-updates-ios-to-fix-crypto-wallet-security-vulnerabilities

The post Apple updates iOS to fix crypto wallet security vulnerabilities appeared first on We Greece.

]]> Apple has issued new security updates for its mobile operating system after the iPhone maker discovered vulnerabilities that could compromise cryptocurrency wallets.

The security updates, which were released Tuesday, affect iOS 14.4 and iPadOS 14.4. The vulnerabilities reportedly allowed hackers to gain remote access to a target system, thereby exposing the user’s cryptocurrency wallet.

Pete Kim, Coinbase’s head engineer, warned iPhone users to update their operating system immediately.

“If you are using a mobile crypto wallet on an iOS device, be sure to update iOS as soon as possible!” Kim tweeted Tuesday. “The update includes a fix for a remote arbitrary code execution vulnerability that may have been actively exploited.”

Coinbase’s mobile wallet is the 13th most downloaded finance app on the Apple Store.

Apple’s security updates are available for iPhone 6s and later, iPad Air 2 and later, iPad Mini 4 and later and the seventh-generation iPad Touch. The company said that the vulnerabilities “may have been actively exploited” by malicious actors.

Mobile wallets are a popular way for crypto users to store and transfer their digital assets. They also make it easier to spend cryptocurrency on everyday items.

Crypto infrastructure has been a primary target for hackers over the years, but the extent of the attacks has declined considerably. As Cointelegraph reported in November 2020, crypto-related attacks declined sharply over the course of 2020.

Πηγή: https://cointelegraph.com/news/apple-updates-ios-to-fix-crypto-wallet-security-vulnerabilities

The post Apple updates iOS to fix crypto wallet security vulnerabilities appeared first on We Greece.

]]> https://wegreece.com.gr/en/apple-updates-ios-to-fix-crypto-wallet-security-vulnerabilities/feed/ 0 Interview of the Vice President of the Hellenic Capital Market Commission for Cryptocurrencies on ERT. https://wegreece.com.gr/en/interview-of-the-vice-president-of-the-hellenic-capital-market-commission-for-cryptocurrencies-on-ert/ https://wegreece.com.gr/en/interview-of-the-vice-president-of-the-hellenic-capital-market-commission-for-cryptocurrencies-on-ert/#respond Wed, 17 Feb 2021 08:00:51 +0000 https://wegreece.com.gr/?p=6541 The post Interview of the Vice President of the Hellenic Capital Market Commission for Cryptocurrencies on ERT. appeared first on We Greece.

]]>

The post Interview of the Vice President of the Hellenic Capital Market Commission for Cryptocurrencies on ERT. appeared first on We Greece.

]]> https://wegreece.com.gr/en/interview-of-the-vice-president-of-the-hellenic-capital-market-commission-for-cryptocurrencies-on-ert/feed/ 0 JP Morgan’s turn for bitcoin: We have to get involved, we were wrong https://wegreece.com.gr/en/jp-morgans-turn-for-bitcoin/ https://wegreece.com.gr/en/jp-morgans-turn-for-bitcoin/#respond Tue, 16 Feb 2021 10:34:18 +0000 https://wegreece.com.gr/?p=6536 “When will we finally get involved in the cryptocurrency market?” asked global market leader Troy Rohrbaugh Four years after JP Morgan CEO Jamie Dimon called bitcoin a “scam”, adding that any of the company’s traders involved in cryptocurrency trading would be fired. bitcoin was wrong: “If a product of time develops a category of assets that can be exploited by different asset managers and investors, we should participate.” In particular, CNBC reported that last month, during a meeting held for thousands of JPMorgan Chase traders around the world, Global Market Manager Troy Rohrbaugh asked the following question: “When will we get involved in the cryptocurrency market? Demand is not where we want it to be yet, but I’m sure it will be at some point.” It is noted that JPMorgan has already failed four times to hit bitcoin. However, JP Morgan is not the only bank that will be forced to face the new reality of decentralized financing and cryptocurrencies. According to CNBC, Goldman Sachs organized a private forum with Mike Novogratz, CEO-founder of the cryptographic company Galaxy Digital, for employees and customers. Novogratz made explanations for bitcoin, ethereum and other currencies. Source: https://www.bankingnews.gr/analyseis-ektheseis/articles/546463/strofi-tis-jp-morgan-gia-bitcoin-prepei-na-emplakoyme-eixame-kanei-lathos?fbclid=IwAR0QlnO0HssMWOwrxM_qh2Oh-BtCJW9IHskBr_jpKW1U2HtB9Ard0XlMq7o

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]]> “When will we finally get involved in the cryptocurrency market?” asked global market leader Troy Rohrbaugh
Four years after JP Morgan CEO Jamie Dimon called bitcoin a “scam”, adding that any of the company’s traders involved in cryptocurrency trading would be fired. bitcoin was wrong:
“If a product of time develops a category of assets that can be exploited by different asset managers and investors, we should participate.”
In particular, CNBC reported that last month, during a meeting held for thousands of JPMorgan Chase traders around the world, Global Market Manager Troy Rohrbaugh asked the following question:
“When will we get involved in the cryptocurrency market? Demand is not where we want it to be yet, but I’m sure it will be at some point.”

JP Morgan's turn for bitcoin: We have to get involved, we were wrong

It is noted that JPMorgan has already failed four times to hit bitcoin.

JP Morgan's turn for bitcoin: We have to get involved, we were wrong

However, JP Morgan is not the only bank that will be forced to face the new reality of decentralized financing and cryptocurrencies.
According to CNBC, Goldman Sachs organized a private forum with Mike Novogratz, CEO-founder of the cryptographic company Galaxy Digital, for employees and customers.
Novogratz made explanations for bitcoin, ethereum and other currencies.

Source: https://www.bankingnews.gr/analyseis-ektheseis/articles/546463/strofi-tis-jp-morgan-gia-bitcoin-prepei-na-emplakoyme-eixame-kanei-lathos?fbclid=IwAR0QlnO0HssMWOwrxM_qh2Oh-BtCJW9IHskBr_jpKW1U2HtB9Ard0XlMq7o

The post JP Morgan’s turn for bitcoin: We have to get involved, we were wrong appeared first on We Greece.

]]> https://wegreece.com.gr/en/jp-morgans-turn-for-bitcoin/feed/ 0 The new landscape with the Register for virtual currencies and digital wallets https://wegreece.com.gr/en/the-new-landscape-with-the-register-for-virtual-currencies-and-digital-wallets/ https://wegreece.com.gr/en/the-new-landscape-with-the-register-for-virtual-currencies-and-digital-wallets/#respond Thu, 28 Jan 2021 07:51:42 +0000 https://wegreece.com.gr/?p=6521 Virtual currencies and digital wallets: These are two terms that are heard and used more and more widely. But what about virtual currencies and digital wallets? Virtual currencies Virtual currencies represent a value that is not issued by a central bank or public authority, nor is it guaranteed. It is also not necessarily linked to legally circulating currency and does not have the legal status of currency or money. On the other hand, however, it is accepted by natural or legal persons as a means of transaction and can be transferred, stored or circulated electronically. Examples of virtual currencies are Bitcoin, LiteCoin, Ethereum, Polkadot etc. used for investment and trading. Digital wallets The digital wallet is the method (eg a software application) for holding, storing and transferring virtual currencies. The digital wallet custodian service allows you to participate in the virtual currency system and facilitates transactions in virtual currencies, stores users’ private encrypted keys, holds user account balance in virtual currencies, generally stores virtual currencies and provides transactional security. Digital wallets can be stored online (hot storage) or offline (cold storage). It now seeks to regulate the use of virtual currencies and digital wallets by monitoring them by the competent authorities through their providers. The purpose is to control the risk of money laundering within the financial system or within virtual currency networks by terrorist groups and illegal activities. The Hellenic Capital Market Commission announced at the beginning of the month (January 7) that the providers of virtual and documentary currency exchange services and digital wallet custody must register by January 31, 2021 in the special register, which it keeps [(Law 4557/2018, as amended by Law 4734/2020, to incorporate into Greek legislation Directive (EU) 2018/843 (AMLD V)]. These are: Register of exchange service providers between fictitious and documentary currencies and Register of digital wallet custodian service providers. What is provided for registration The relevant Registers of the Hellenic Capital Market Commission must be registered, before their activation, the Providers that intend to provide their services in Greece or from Greece to other countries. The Providers, which are already active in Greece, are subject to the deadline of January 31st. The process The entry in the relevant Register includes: – The application for registration, including information and documents submitted to the EC, for Providers natural and legal persons respectively – Payment of a fee for the submission of the application and the processing of their registration in the relevant Register – Annual contribution to cover supervision costs. Sanctions Those who do not register by this date will be subject to the sanctions of art. 46 of Law 4557/2018, as a fine, a public announcement stating the person and the nature of the violation, but also prohibitions that may reach the final prohibition of the provision of these services. Source: https://www.capital.gr/arthra/3521169/to-neo-topio-me-to-mitroo-gia-eikonika-nomismata-kai-psifiaka-portofolia?fbclid=IwAR0bYvPAC_7owTzUyOC2yedd76V4dkuaTEA-sbo5zH43deZbOYvvBdyU0es

The post The new landscape with the Register for virtual currencies and digital wallets appeared first on We Greece.

]]> Virtual currencies and digital wallets: These are two terms that are heard and used more and more widely. But what about virtual currencies and digital wallets?

Virtual currencies

Virtual currencies represent a value that is not issued by a central bank or public authority, nor is it guaranteed. It is also not necessarily linked to legally circulating currency and does not have the legal status of currency or money. On the other hand, however, it is accepted by natural or legal persons as a means of transaction and can be transferred, stored or circulated electronically.

Examples of virtual currencies are Bitcoin, LiteCoin, Ethereum, Polkadot etc. used for investment and trading.

Digital wallets

The digital wallet is the method (eg a software application) for holding, storing and transferring virtual currencies.

The digital wallet custodian service allows you to participate in the virtual currency system and facilitates transactions in virtual currencies, stores users’ private encrypted keys, holds user account balance in virtual currencies, generally stores virtual currencies and provides transactional security.

Digital wallets can be stored online (hot storage) or offline (cold storage).

It now seeks to regulate the use of virtual currencies and digital wallets by monitoring them by the competent authorities through their providers. The purpose is to control the risk of money laundering within the financial system or within virtual currency networks by terrorist groups and illegal activities.

The Hellenic Capital Market Commission announced at the beginning of the month (January 7) that the providers of virtual and documentary currency exchange services and digital wallet custody must register by January 31, 2021 in the special register, which it keeps [(Law 4557/2018, as amended by Law 4734/2020, to incorporate into Greek legislation Directive (EU) 2018/843 (AMLD V)].

These are:

Register of exchange service providers between fictitious and documentary currencies and
Register of digital wallet custodian service providers.

What is provided for registration
The relevant Registers of the Hellenic Capital Market Commission must be registered, before their activation, the Providers that intend to provide their services in Greece or from Greece to other countries.

The Providers, which are already active in Greece, are subject to the deadline of January 31st.

The process

The entry in the relevant Register includes:

– The application for registration, including information and documents submitted to the EC, for Providers natural and legal persons respectively

– Payment of a fee for the submission of the application and the processing of their registration in the relevant Register

– Annual contribution to cover supervision costs.

Sanctions

Those who do not register by this date will be subject to the sanctions of art. 46 of Law 4557/2018, as a fine, a public announcement stating the person and the nature of the violation, but also prohibitions that may reach the final prohibition of the provision of these services.

Source: https://www.capital.gr/arthra/3521169/to-neo-topio-me-to-mitroo-gia-eikonika-nomismata-kai-psifiaka-portofolia?fbclid=IwAR0bYvPAC_7owTzUyOC2yedd76V4dkuaTEA-sbo5zH43deZbOYvvBdyU0es

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]]> https://wegreece.com.gr/en/the-new-landscape-with-the-register-for-virtual-currencies-and-digital-wallets/feed/ 0 Bitcoin hits new record high https://wegreece.com.gr/en/bitcoin-hits-new-record-high/ https://wegreece.com.gr/en/bitcoin-hits-new-record-high/#respond Thu, 14 Jan 2021 08:10:19 +0000 https://wegreece.com.gr/?p=6506 Predictions for the future and comparisons with the past !!

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]]> Predictions for the future and comparisons with the past !!

The post Bitcoin hits new record high appeared first on We Greece.

]]> https://wegreece.com.gr/en/bitcoin-hits-new-record-high/feed/ 0 One of the world’s top banks issues bonds that can be bought with Bitcoin https://wegreece.com.gr/en/one-of-the-worlds-top-banks-issues-bonds-that-can-be-bought-with-bitcoin/ https://wegreece.com.gr/en/one-of-the-worlds-top-banks-issues-bonds-that-can-be-bought-with-bitcoin/#respond Mon, 21 Dec 2020 08:30:52 +0000 https://wegreece.com.gr/?p=6497 China Construction Bank has partnered with a Labuan-based fintech to issue the first-ever blockchain-based digital security issued by a Chinese financial institution. One of the “Big Four” banks in the People’s Republic of China, CCB is ranked the second-largest bank worldwide by total assets as of fall 2020. The megabank’s plan with the new blockchain-based debt issuance is to raise up to $3 billion in total, starting with a tranche of $58 million, from individuals and institutions. The digital bonds will be issued through an offshore branch of CCB in Labuan, Malaysia, at a minimum of as little as $100 each, and will have a tenor of three months. They pay an annualized interest of Libor plus 50 basis points, or roughly 0.75%. The innovation is that these bonds are being used as tokenized certificates of deposit on the blockchain, which supports the issuance of such small-sum bonds; non-blockchain-based bonds are typically sold at higher minimums, and are therefore limited to professional investors or other banks. Moreover, the tokenized certificates of deposit will be tradable on the Fusang exchange. The exchange, which is regulated in Labuan, will launch live trading of the bonds on Nov. 13. Notably, as Fusang supports cryptocurrency trading, traders will be able to exchange Bitcoin (BTC) for U.S. dollars in order to purchase the bonds. The transactions will be charged at a commission. Fusang’s CEO Henry Chong has told reporters that if the bonds are popular, the digital exchange intends to initiate similar products denominated in other currencies. The bonds’ 0.75% annualized interest is higher than most U.S. dollar bank-deposit rates, as the Wall Street Journal has emphasized. Tax residents of the United States and China, as well as entities or persons in Iran and North Korea, will not be able to purchase the digital security. All proceeds from the issuance will be deposited at the CCB’s offshore Labuan branch. Labuan is a small island described by the Wall Street Journal as a tax haven. CCB is “not dealing in bitcoin or cryptocurrencies,” but rather “taking bank deposits, which is our core business,” CCB Malaysia’s chief operating officer Steven Wong stressed. The offering is nonetheless being heralded as a big innovation. This is “the first publicly listed debt security on a blockchain,” said Felix Feng Qi, the CEO of CCB’s offshore Malaysian business and principal officer of the CCB Labuan branch. Source: https://cointelegraph.com/news/one-of-the-world-s-top-banks-issues-bonds-that-can-be-bought-with-bitcoin

The post One of the world’s top banks issues bonds that can be bought with Bitcoin appeared first on We Greece.

]]> China Construction Bank has partnered with a Labuan-based fintech to issue the first-ever blockchain-based digital security issued by a Chinese financial institution.

One of the “Big Four” banks in the People’s Republic of China, CCB is ranked the second-largest bank worldwide by total assets as of fall 2020.

The megabank’s plan with the new blockchain-based debt issuance is to raise up to $3 billion in total, starting with a tranche of $58 million, from individuals and institutions. The digital bonds will be issued through an offshore branch of CCB in Labuan, Malaysia, at a minimum of as little as $100 each, and will have a tenor of three months. They pay an annualized interest of Libor plus 50 basis points, or roughly 0.75%.

The innovation is that these bonds are being used as tokenized certificates of deposit on the blockchain, which supports the issuance of such small-sum bonds; non-blockchain-based bonds are typically sold at higher minimums, and are therefore limited to professional investors or other banks.

Moreover, the tokenized certificates of deposit will be tradable on the Fusang exchange. The exchange, which is regulated in Labuan, will launch live trading of the bonds on Nov. 13. Notably, as Fusang supports cryptocurrency trading, traders will be able to exchange Bitcoin (BTC) for U.S. dollars in order to purchase the bonds. The transactions will be charged at a commission.

Fusang’s CEO Henry Chong has told reporters that if the bonds are popular, the digital exchange intends to initiate similar products denominated in other currencies. The bonds’ 0.75% annualized interest is higher than most U.S. dollar bank-deposit rates, as the Wall Street Journal has emphasized.

Tax residents of the United States and China, as well as entities or persons in Iran and North Korea, will not be able to purchase the digital security. All proceeds from the issuance will be deposited at the CCB’s offshore Labuan branch. Labuan is a small island described by the Wall Street Journal as a tax haven.

CCB is “not dealing in bitcoin or cryptocurrencies,” but rather “taking bank deposits, which is our core business,” CCB Malaysia’s chief operating officer Steven Wong stressed. The offering is nonetheless being heralded as a big innovation. This is “the first publicly listed debt security on a blockchain,” said Felix Feng Qi, the CEO of CCB’s offshore Malaysian business and principal officer of the CCB Labuan branch.

Source: https://cointelegraph.com/news/one-of-the-world-s-top-banks-issues-bonds-that-can-be-bought-with-bitcoin

The post One of the world’s top banks issues bonds that can be bought with Bitcoin appeared first on We Greece.

]]> https://wegreece.com.gr/en/one-of-the-worlds-top-banks-issues-bonds-that-can-be-bought-with-bitcoin/feed/ 0 Blockchain and Digital Assets Adoption Continue to Grow Despite COVID-19 Pandemic https://wegreece.com.gr/en/blockchain-and-digital-assets-adoption-continue-to-grow-despite-covid19-pandemic/ https://wegreece.com.gr/en/blockchain-and-digital-assets-adoption-continue-to-grow-despite-covid19-pandemic/#respond Mon, 14 Dec 2020 08:10:44 +0000 https://wegreece.com.gr/?p=6493 Ripple has released its annual ‘Blockchain in Payments report’ for the third consecutive year, offering a comprehensive look into the fintech industry and blockchain’s growing role in payments. The report has revealed that not only is growth possible for blockchain and digital assets initiatives, but that familiarity with them has increased as well. Across five global regions (North America, Europe, Middle East and Africa, Latin America and Asia Pacific) familiarity with blockchain and cryptocurrency ranges from 82% to 94% The report has also found the blockchain adoption and positive sentiment is growing, with 67% of respondents claiming that cryptocurrency is net reliable, and over one-third using blockchain payments. IT was also found that nearly 4 in 5 (79%) of industry innovators reported growth in 2020 despite the economic pressures of the Covid-19 pandemic. Other key findings include: Adopters view blockchain as the fuel to business growth: 44% of respondents in production have recorded strong business growth in the past 12 months—while 45% of respondents that reported processing mostly digital transactions, recorded a large amount of growth. Interest in using digital assets has dramatically increased: 99% of respondents state that their business would consider using a digital asset, either as a currency itself or as a means to instantly process cross-border payments. This is up from 94% in 2018. Industry innovators are realising significant growth, even amid Covid-19: this is attributed to an expansion of products, services and target customers within companies, as well as innovation in payment technology- a key growth driver for 44% of businesses. Source: https://thefintechtimes.com/blockchain-and-digital-assets-adoption-continue-to-grow-despite-covid-19-pandemic-report/

The post Blockchain and Digital Assets Adoption Continue to Grow Despite COVID-19 Pandemic appeared first on We Greece.

]]> Ripple has released its annual ‘Blockchain in Payments report’ for the third consecutive year, offering a comprehensive look into the fintech industry and blockchain’s growing role in payments.

The report has revealed that not only is growth possible for blockchain and digital assets initiatives, but that familiarity with them has increased as well. Across five global regions (North America, Europe, Middle East and Africa, Latin America and Asia Pacific) familiarity with blockchain and cryptocurrency ranges from 82% to 94%

The report has also found the blockchain adoption and positive sentiment is growing, with 67% of respondents claiming that cryptocurrency is net reliable, and over one-third using blockchain payments. IT was also found that nearly 4 in 5 (79%) of industry innovators reported growth in 2020 despite the economic pressures of the Covid-19 pandemic.

Other key findings include:

Adopters view blockchain as the fuel to business growth: 44% of respondents in production have recorded strong business growth in the past 12 months—while 45% of respondents that reported processing mostly digital transactions, recorded a large amount of growth.
Interest in using digital assets has dramatically increased: 99% of respondents state that their business would consider using a digital asset, either as a currency itself or as a means to instantly process cross-border payments. This is up from 94% in 2018.
Industry innovators are realising significant growth, even amid Covid-19: this is attributed to an expansion of products, services and target customers within companies, as well as innovation in payment technology- a key growth driver for 44% of businesses.

Source: https://thefintechtimes.com/blockchain-and-digital-assets-adoption-continue-to-grow-despite-covid-19-pandemic-report/