. 3 min read

Europeans Launch Bitcoin Friendly POS Terminal + More News

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: Ingenico/Salamantex

Adoption news

  • Payment solutions provider Ingenico has teamed up with Austrian fintech firm Salamantex to release a new POS terminal solution that will allow merchants to process “digital currencies payments by default.” In a press release shared with Cryptonews.com, the companies said they would exhibit the solution at the upcoming EuroShop 2020, which they described as “the world’s largest trade fair for retail investment needs.” The companies say the solution will allow merchants to accept payments in cryptocurrencies such as bitcoin, ethereum (ETH) and dash (DASH), but to receive the same amount in euros.
  • Payments solution developer Pundi X (NPXS) has announced it is teaming up with MakerDAO, the mastermind of the Dai stablecoin, to co-launch their joint Crypto Merchant program. The program will see partner merchants receive an XPOS cryptocurrency payment processing device, allowing them to accept payments made in tokens.
  • Peter Zimmerman, a senior economist at the Bank of England, has published a paper on bitcoin (BTC) prices. In his paper, Zimmerman opined that the popular token has limitations, and claims that there is currently a conflict between people who actively want to spend their tokens and speculative investors. He stated that the phenomenon caused price volatility, leading to investors hoarding their holdings.
  • European football governing body UEFA says it will use blockchain technology to distribute 1 million tickets on fans’ mobile phones – ahead of the upcoming European Championships, which will take place this summer. UEFA says it successfully piloted its solution at last year’s Nations League finals, where it issued 110,000 tickets on the platform.

Exchanges news

  • Two Brazilian cryptocurrency exchanges have announced that they will close, citing mounting regulatory scrutiny. The co-founder of Acesso Bitcoin exchange told Portal do Bitcoin that recently introduced tax rules had reduced transaction volumes, as well as driving up compliance costs. Fellow exchange Latoex is also struggling to pay a fine under the new regulations and is set to close its doors rather than continue.
  • Another South Korean exchange is set to close. Metaps, the Japan-based operator of the UpXide platform, says it will return to the conventional finance industry, and blamed continued regulatory uncertainty for a downturn in profitability. The company also stated that security and compliance costs were rising fast for crypto exchanges, reports Crypto Watch.
  • Crypto exchange Binance has applied for an operating license from Singapore’s financial regulator. The country has made amendments to its Payment Services Act, which will require platforms in the country to register and obtain permits. Per Bloomberg, Japanese exchange operator Liquid and British outfit Luno have also applied for permits. Binance co-founder and CEO said the company had “submitted the application pretty fast,” and called the regulator “open-minded.”
  • South Korean cryptocurrency exchange Bithumb and the Singapore-based BitMax platform have struck a partnership deal, reports Fn News. The two companies say they will co-launch a range of cryptocurrency-related services and widen their international reach – as well as pooling their blockchain and cryptocurrency technology.

Investment news

  • British based crypto custodial service provider Copper said it has raised USD 8 million in a Series A investment round. The company says it will target worldwide expansion, expand its commercial team and launch new products. Investors include the likes of Target Global and LocalGlobe.

Regulation news

  • Venezuela will introduce a crypto-accounting system and standards for the state-issued petro token and major cryptocurrencies, reports Criptonoticias. The new measures will outline ways that companies and individuals dealing with cryptocurrencies can prepare financial documents, including a methodology for making crypto-related calculations and declarations.
  • There have been new police charges in the VIPSTAR embezzlement case in Japan, reports Nikkei. Last month, two men – including a disgruntled former employee – were accused of stealing over USD 700,000 from VIPSTAR, an anime-themed hybrid proof-of-stake and proof-of-work project. Nikkei reports that an employee has been accused of stealing VIPSTAR tokens in summer 2018, and then exchanging them for bitcoin on an overseas exchange, later going on to withdraw the funds in fiat.
  • The long-running case of a company that issued fake cryptocurrencies it claimed had been underpinned a shipwreck laden with gold-filled treasure chests has ended with its CEO receiving a 3.5-year jail term, reports Yonhap. The head of the SL Blockchain Group and the Shinil Group was hit with fraud charges after prosecutors alleged that he had launched a fake token in 2018 – and then later went on to start selling a second coin after police launched an investigation.