Mexican Crypto Exchange Operators Now Required To Secure Permit From Bank Of Mexico

According to the Diario Oficial de la Federacion, Mexican crypto exchange operators will now be required to secure a permit from the Bank of Mexico (Banxico). The Mexican government is taking a lot of proactive measures to introduce cryptocurrency-specific regulations in order to solidify its position as a significant player in the crypto market and to fuel economic growth.

The crypto exchanges and related storage providers can provide fiat liquidity to all customers, guaranteed by the Bank of Mexico, under the terms of ‘general provisions on operations related to electronic payment funds’, once a permit is issued.

A digital currency business needs to follow a short procedure to prove its legitimacy and business structure in order to ensure that it gets a permit from the Bank of Mexico. The company needs to first provide a detailed business plan to Banxico that entails a description of its operations, commissions charged per-trade, staff roles and activities and the procedure for a Know-Your-Customer mandate.

The Bank of Mexico won’t be providing liquidity to the crypto exchange customers on the same day of opening exchange accounts. The idea behind this is to prevent money laundering and other illicit activities. Apart from this, all entities conducting business needs to prove the legitimacy of all corporations and customers involved in each trade.

Consumers will now face slightly increased scrutiny with the new laws in place. For instance, all assets acquired after cryptocurrency payouts will be subject to validation check levied by the government, as stated in the CryptoSlate report. The secondary provisions of the law came into force on September 10.

Some of these new provisions that are presently effective directly impact crypto active or virtual assets. The regulations that have already been approved against electronic payments, money laundering and collective collections, indirectly impact the management of virtual assets.

The permit issuance window is presently closed for new crypto exchanges. The applications will re-open in March 2019 when the Mexican government will issue new fintech regulations for the upcoming fiscal year, as stated in the CriptoNoticias report.

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7 Reasons Why North Queensland Merchants Only Accept Bitcoin Cash BCH

Many merchants in North Queensland are choosing to accept only Bitcoin Cash. North Queensland is also seeing the appearance of Bitcoin Cash only ATMs. As these merchants are well informed and well organized, why are they choosing to concentrate on Bitcoin Cash BCH for their electronic commerce needs? Here are a few points that I have garnered to help explain their approach:

1. Bitcoin Cash is designed from the Genesis block to be a peer-to-peer electronic cash system and thus excels at electronic commerce. By simply choosing to only support BCH, the merchants are not giving up any real capability.
2. The merchant's customer-payment-experience is greatly influenced by the ease & speed of the exchange. As Bitcoin Cash has a fast 0-conf payment capability, merchants jeopardize this speed advantage when supporting other cryptos.
3. Given the large numbers of cryptos and typically their low usage frequency, the merchant is not gaining a proportional benefit for the added cost, complexity and training needed for their support.
4. It is logical that visitors to North Queensland convert their BTC, LTC etc., to BCH once rather than incumber every point-of-sale system with an extra step and complication of choosing a crypto with each payment.
5. There are excellent online services readily available to the tourist to convert their BTC, LTC etc., to BCH for use during their visit to North Queensland.
6. Concentrating on just Bitcoin Cash BCH allows the North Queensland merchant groups to eliminate a large amount of customer confusion and more easily provide technical support for their merchant members.
7. Concentrating on just Bitcoin Cash BCH greatly increases the efficiency of any promotion and even the promotion of North Queensland itself as a Bitcoin Cash friendly tourist destination.

The proof of the approach is open for the world to see. North Queensland has the highest per capita bricks-and-mortar merchant adoption in the world.

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submitted by /u/where-is-satoshi
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source https://www.reddit.com/r/btc/comments/9fzl2s/7_reasons_why_north_queensland_merchants_only/

OP_DSV will enable us to create decentralized systems such as handcash handles and universal identity, prediction markets, loans, etc. on chain in the most efficient way possible

There are round about ways to do anything without new op codes, but why wouldn't we want to make innovation as cheap and easy as possible?

I can build accounting software with redstone in Minecraft but no one's buying it over turbo tax. On chain scaling and innovation gives BCH the tools to compete in the global market.

submitted by /u/fahpcsbjiravhiaqryzh
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source https://www.reddit.com/r/btc/comments/9fzty0/op_dsv_will_enable_us_to_create_decentralized/

ABC CTOR Advantage

Canonical transaction ordering will allow bch to leverage the power of multicore CPU architecture and increase overall throughput capacity compared to current topological transaction ordering deployed on bitcoin core protocol.

Simply put, CTOR is moving with the time of multicore CPUs, so I think this is a logical step to stay in sync with current technology.

I think it's good. Any thoughts?

submitted by /u/getrich_or_diemining
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source https://www.reddit.com/r/btc/comments/9fzqid/abc_ctor_advantage/

Delusional YouTuber Jimmy Song saying "nobody uses dapps" is an example of why Bitcoin got bamboozled by Ethereum in market share

submitted by /u/KayRice [link] [comments]

source https://www.reddit.com/r/btc/comments/9fyw5p/delusional_youtuber_jimmy_song_saying_nobody_uses/

Bitcoin Car Talk 20: Featuring Charlie Lee

submitted by /u/Kain_niaK [link] [comments]

source https://www.reddit.com/r/btc/comments/9fzyg4/bitcoin_car_talk_20_featuring_charlie_lee/

Investment Firm In UAE Introduces 3rd Generation Blockchain ICO

It is official now that UAE based investment firm Relam Investment has come up with its new ecosystem based on the third generation Blockchain called Hetachain as well as its ICO. The firm started the global launch of the ICO in Dubai, which will then be followed in London and Turkey in 2018.

The Hetachain ecosystem comprises of cold and hot Heta Wallets, smart contracts, Blockchain feature-enablers, comprehensive solutions, and smart contracts, which will further improve its use in various applications. These include remittance, cash exchange, data management, telecommunications, trade, e-commerce, healthcare, and smart banking.

Incidentally, Hetachain is an extremely fast BFT + DPoS hybrid Blockchain network that concentrates on resolving the age-old dilemma of scalability. It also encourages a democratically governed platform constructed for conducting industry scale transactions and is specifically developed for private users.

It offers an array of features and integrates both individual and public adoption-focused design. Users are able to use the Hetachain for their private as well as public Blockchain preference.

Both the first and second generation Blockchain technology had become synonymous with high-energy consumption, high network fees, slow transactions, and network congestion. On the other hand, the third generation Blockchain technology of Hetachain takes care of all these earlier errors.

It aims to resolve the issues related to higher transactions per second, scalability, and energy efficiency and push the Blockchain technology a step closer to its adoption by masses, Khaleej Times reported. Thus, lots of expectations are being built up around the new Blockchain ICO.

Hetachain Is A Diversified Ecosystem

MIG Holdings, a Vietnam-based investment group, and Vault Investments, a Dubai-based investment firm formed a partnership in 2018 to form Relam Investment. Vault Investments was established in 2012, Tahawul Tech wrote.

The new Blockchain ICO is expected to engage and support people and companies who can change the world in a positive way. This view was shared by Norman Khan, a co-founder of Hetachain. An ICO is an exciting venture that enables people to make investments in opportunities like Hetachain according to him.

 

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