Switzerland's monetary authority has approved its first crypto fund for accredited investors in the country, while Iranian authorities have discovered illegal cryptocurrency miners in the basement of the Tehran Stock Exchange. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍The Swiss Financial Market Supervisory Authority (FINMA) has approved the first crypto fund in the country. The fund Crypto Market Index Fund was approved recently by Switzerland's financial authority, so qualified investors in the country will now be able to access crypto assets. Switzerland's financial markets supervisor reported that access to the cryptocurrency investment fund would be limited to qualified investors, in order to protect investors.
Recently, Switzerland implement new regulations and KYC requirements to minimize the risks of money laundering and other financial crimes that can occur with cryptocurrencies. The European country wants to become a world-leading development and innovation center for crypto assets and the industry. blockchain.
📍Miami to launch cryptocurrency tax payment prototype next month Miami Mayor Francis Suarez talked about the possibility of paying taxes using cryptocurrencies during his interview with Anthony Pompliano. According to the mayor, a working group is already developing this new functionality, so it is possible that a pilot of what will be this service will be active by next month. The idea of launching a prototype of this functionality is to check if it will meet the standards and demands and needs of citizens.
Suarez, one of the most enthusiastic Bitcoin political leaders, has been looking for ways to implement bitcoin and other cryptocurrencies, to make Miami the most innovative city in the world. Suarez's vision is to make Miami the first city in the United States to pay salaries in Bitcoin, collect taxes in Bitcoin, and transform part of its treasury to this cryptocurrency as a store of value. Miami is also developing the first citycoin in the country, Miamicoin, which has already generated $7 million in revenue for the city through its mining.
📍Thailand is considering a local cryptocurrency to boost tourism and capitalize on interest in crypto. The Tourism Authority of Thailand (TAT) has announced plans to create a utility token, a utility token, to capitalize on the rise of cryptocurrencies, in the country. According to the report of the Bangkok Post, the utility token will not be tradable. The tourism authority detailed that the token would involve the transfer of coupons to digital tokens that could help operators obtain greater liquidity, without the implications of speculation in the market. In addition, it detailed that it would be a token regulated by the country's Securities and Exchange Commission.
The authority is in talks with the SEC to discuss the possibility of creating and launching this utility token, so it is just an idea yet to come to life.
CBDC and Central Banks
📍Nigeria continues to advance in the development of its CBDC and activates its web portal. The digital naira already has a web page where citizens of the African country can see more details and information about the CBDC, called eNaira. Nigeria has also made an official wallet available to citizens to hold and manage payments and remittances using the CBDC. According to the country's Central Bank this month, the eNaira will be officially launched next Friday, October 1, and will be the digital form of cash.
📍The Central Bank of Ukraine publishes a job offer for a blockchain developer. Through the professional social network LinkedIn, the Central Bank of Ukraine revealed that it is looking for a blockchain developer with knowledge and experience in Hyperledger. According to the publication In terms of work, the central entity is interested in a person with experience in blockchain infrastructure services, high availability distributed systems and services; in addition to the development of microservices and integration solutions and development of business logic for smart contracts, among other things.
Although the job offer does not detail it, the central bank's interest in a blockchain developer may be driven by its CBDC project, the e-hryvnia. The bank has been studying the issue of a sovereign digital currency for several years.
Rules and Regulations
📍“Do nothing” Elon Musk tells US government about crypto regulation. The controversial billionaire, owner of Tesla and SpaceX, recommended that the United States government not regulate the cryptocurrency industry. Elon Musk participated in the Code 2021 conference, held in the city of Beverly Hills, Los Angeles, as reviewed Reuters. During his speech, he stressed that governments will not be able to destroy cryptocurrencies, although it is possible that they will slow down their development, as China is doing.
Musk noted that cryptocurrencies are a revolutionary, decentralized technology that can take the power away from centralization and, therefore, from governments. The Tesla and SpaceX CEO also indicated that cryptocurrencies and blockchain have the potential to reduce the “error and latency” of legacy systems, although he stressed that these technologies do not have all the answers. Musk also spoke about the possible reasons that drive China to ban cryptocurrencies, such as the high energy demand of miners in the country and the possibility of seeing the control and power of its centralized government reduced if cryptocurrencies flourish in the nation.
📍Ali Sahraee, CEO of the Tehran Stock Exchange, the most important in Iran, resigns after cryptocurrency miners are discovered illegally in the building. Sahraee was reportedly aware of the existence of several cryptocurrency miners hidden in the basement of the Tehran Stock Exchange premises, reported local media. Iranian authorities conducted a sudden inspection of the premises of the stock exchange, discovering several cryptocurrency miners installed in the basement. The former CEO of the stock exchange denied the accusations of illegal cryptocurrency mining and noted that it was an experiment. However, it is worth remembering that the Iranian government banned cryptocurrency mining activity in May, due to constant power outages in the country. The ban even covered miners who held licenses to legally operate in Iran.
Mahmoud Goodarzi, deputy director of operations at the Tehran Stock Exchange, will now be in charge of the stock exchange after Sahraee's departure and until the election of the new general director of the Tehran Stock Exchange.
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