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Roundup – 21/02/2019 – Lithuania Issues New Crypto Regulation & more

Lithuania’s New Crypto Regulation – Cash System: No – Financial Asset: Yes

Lithuania has updated its regulation on cryptocurrencies. The Central Bank of Lithuania, Lietuvos Bankas, underlined that the fundament of its approach has not changed. However, it has modified and adapted its approach slightly. The term “virtual asset” has replaced the previous classification of “virtual currency”. The new regulation focusses on FMPs (financial market participants). The use of cryptocurrencies as a means of payment is forbidden to companies. However, they can rely on third-party companies that convert crypto into Fiat. Basically, Lithuania’s regulation treats cryptocurrencies as a financial asset and outlaws the original purpose of the currency.

Nova And IOTA Foundation Enter Into A Partnership To Nurture Startups

The IOTA foundation is partnering with a Liverpool-based tech incubator, Nova. The deal aims to enable more enterprises to adopt Distributed Ledger Technology to offer better services to clients. The deal will be targeting startups that usually grapple with inefficient technology that threatens the very existence of infant companies in the face of stiff competition.

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The New Samsung Galaxy S10 Has a Cryptocurrency Storage Key

Reports indicate that the new Samsung Galaxy S10 comes with an advanced storage key that users can use to store their private cryptocurrency keys. These keys are essential, as without them, there is no way a cryptocurrency investor can access his or her cryptocurrency wallet.The new mobile phone was launched yesterday, February 20th, in Seoul, London, and San Francisco. The company also introduced the new Samsung Knox function that is tailored to enhance security. This is good news for Samsung clients’ as they do not have to store their private keys offline.

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South Africa Ranked Top For Crypto Ownership

South Africa has been rated as the leading country for crypto ownership. This is according to an international survey carried out recently. The survey was conducted by Wearesocial, an international agency, and Hootsuite, a management company for social media. According to the study, 10.7% of internet users in South Africa own virtual coins.South Africa is followed closely by Thailand. In Thailand, 9.9% of mobile users possess a virtual coin. At the third position, there is Indonesia. Here, 9.5% of mobile users have crypto. The worldwide average stood at 5.5%.

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Crypto Exchange Ranks Partners With Blockchain Intelligence Company Crystal

The project Crypto Exchange Ranks (CER) has partnered with Crystal, a company that engages in blockchain analysis. Crystal offers its service to financial authorities, law firms and crypto exchanges itself. The partnership with CER, a side-project of Hacken, a crypto project with its own token that provides protection against hackers in the crypto space.

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