Cryptocurrency Firm Cashaa To Open Physical Bank Branches In India
Initially, 34 branches of the "cryptocurrency bank" will be opened in northern India, and later their number will be increased to 100. In such branches, users will be able to buy, sell, store and transfer cryptocurrencies and other digital assets. It is also planned to open training centers for cryptocurrencies in the branches of the United Multistate Credit Cooperative Society. Cashaa CEO Kumar Gaurav stated:
“Most people in India do not know about cryptocurrencies or have a misconception about them. They are used to using physical currencies and trusting the government. India's economy continues to rely on cash despite pushing for a cashless transition. We are going to address these issues that are slowing down the adoption of cryptocurrencies. "
Another cryptocurrency bank licensed in the USA
The Avanti Financial Group, a banking company specializing in the cryptocurrency space, received a license from the Wyoming State Banking Council on Wednesday, CoinDesk writes. In September, the same license was granted to the Kraken exchange.
Like Kraken, Avanti has several steps to go through, including raising additional capital, before it can use the license.
“Kraken has definitely attracted attention, but now there is a second license, so this is no longer a one-off situation, but an emerging trend,” said Avanti CEO Caitlin Long.
At the same time, the Wyoming authorities approved Avanti's request to issue Avit programmable electronic currency pegged to the US dollar. Its emission will be carried out on the sidechain of Bitcoin Liquid, and subsequently on Ethereum.
Mongolia's largest bank to start working with cryptocurrencies
TDB Bank is the largest Mongolian bank in terms of the number of branches, the number of which exceeds 50, and the second in terms of assets. To implement blockchain and support cryptocurrencies, the bank entered into agreements with the Korean blockchain company Hexladn and technology firm Delio.
Hexland will be engaged in the development and verification of smart contracts on the blockchain, the creation of wallets and other developments. Also involved in the agreement are mining company MDKI and mining giant Bitfury. However, their role in the implementation of support for digital assets by the bank has not been disclosed.
TDB Bank plans to provide services related to cryptocurrencies to its corporate clients, of which there are more than 400. Bank representatives hope that the business will be interested in cryptocurrency loans and financial advice in the field of digital assets.
Binance CEO Rejects Allegations of Violating US Laws
Binance CEO Changpeng Zhao said that his marketplace complies with US law and generally prefers to operate strictly within the legal framework.
With this statement, he commented on the accusations that the exchange allegedly uses its American branch to circumvent local laws.
We will remind, the edition of Forbes reported on the eve that in 2018 (before the launch of Binance US) the so-called "Taiji Document" appeared. This is a kind of presentation that the top management of the marketplace received.
Allegedly, it was about baiting investors and circumventing US laws. According to media reports, the document was created by one of the former employees of the exchange.
In response, Changpeng Zhou denied the accusations and said that all Binance operations are carried out strictly within the framework of the law.
The platform works in close collaboration with law enforcement agencies and regulators from around the world. All necessary restrictions and regulations are observed in the American market.
The exchange currently operates in 40 US states. The CEO of Binance also stressed that such a fake document could have been created by anyone, and there is no evidence that the exchange used Taiji in its work.
A bnk as hige as tbis to also consider taking in binance is a good step they are making and i will advice they invest high