The US oil company Chevron will be able to carry out minimal operations in Venezuela after obtaining the necessary authorization, which clearly establishes the prohibition on operating oil fields in the South American country, exporting its oil, or expanding its activities.

As is known, Chevron’s largest operating license in Venezuela expired on Tuesday, May 27. Now, the company’s operations will be limited to the US authorization.

The decision is the result of negotiations between Chevron and several European firms with officials in Washington “to preserve their holdings and assets in Venezuela amid President Donald Trump’s restrictive policy toward the nation.”

M.Pino

Source: elnacional

(Reference image source: Sasun Bughdaryan on Unsplash)

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La entrada Chevron to keep minimal activities in Venezuela apareció primero en Bitfinance.

Customers of Spain’s largest bank, BBVA, will be able to trade cryptocurrencies through the mobile banking app, thanks to the fact that the bank already has the authorization of the regulatory body for this activity.

BBVA is ready to offer bitcoin and ether trading in Spain. Previously, the bank had integrated digital assets in Switzerland and Turkey as part of a trend in European banking “to be at the forefront of crypto.”

Financial giant Banco Bilbao Vizcaya Argentaria will operate “with a license under the MiCA framework, BBVA now plans to integrate cryptocurrencies into its banking services, allowing Spanish customers to buy, sell and manage bitcoin and ETH transactions securely through its app.”

The issuance of the license is the culmination of several years of efforts to enable “the lender to allow its Spanish clients to gain direct exposure to digital assets.”

M.Pino

Source: diariobitcoin

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La entrada BBVA Spain to offer bitcoin and ether trading apareció primero en Bitfinance.

The Public Department for Digital Transformation of Italy launched the ITWallet application, under the supervision of the Public Administration, which authorizes citizens to carry digitalized documents such as driving licenses or identification cards.

Through this measure, implemented on December 4, Italians can carry a digital version of the aforementioned documents on their mobile devices. Last October, ITWallet tests were carried out on a group of 50,000 citizens, with satisfactory results.

“This digital wallet will allow people to carry personal identification documents such as ID cards, driver’s licenses, health cards or disability certificates on their mobile phones,” the authorities said.

Any adult will be able to download the Public Administration application, IO, to their phone or other mobile device and access it using the Public Digital Identity System (SPID) or the electronic identity card.

It is estimated that the application will soon be used by some 44.5 million Italians, who will also be able to “receive notifications about tax payments and other bureaucratic obligations.”

With this step, Italy is moving forward in adapting its systems with the “objective of integrating the Italian application into a future European Union digital identity portfolio (EUDI) by 2026.”

M.Pino

Source: swissinfo

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La entrada Italy launches ITWallet app for citizens’ identification documents apareció primero en Bitfinance.

The US Securities and Exchange Commission has finally given BlackRock the green light to list and trade options on its bitcoin spot ETF, IBIT.

It has been just eight months since the SEC authorized bitcoin spot ETFs and other managers are still waiting for their applications to be approved by the agency.

It is important to remember that in January, the New York-based asset manager received approval to “launch iShares Bitcoin Trust ETF (IBIT), an exchange-traded product that offers investors direct exposure to bitcoin. The fund received approval along with nine other proposals, including from Fidelity, Ark Invest and Grayscale.”

BlackRock’s next strategic step was to seek to “list and trade IBIT options on the local market,” just as Grayscale and Bitwise, among others, have proposed “listing and trading options for their respective spot Bitcoin ETFs. Although these applications are still awaiting SEC approval.”

The SEC reported on Friday, September 20 in a filing the approval of BlackRock’s proposal on an “accelerated” basis. However, it clarified that it is simply an approval stage, since it still needs to be approved by the OCC (Office of the Comptroller of the Currency) and the CFTC (Commodity Futures Trading Commission), so that it can then be official.

M.Pino

Source: diariobitcoin

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La entrada BlackRock to offer options on its bitcoin spot ETF apareció primero en Bitfinance.

The government of Bolivia authorized the use of cryptocurrencies for buying and selling, with the purpose of boosting the local economy.

After a moment of tension experienced by irregular military movements on June 26, the government of Luis Arce announced the authorization of trading with digital assets. The president of the Central Bank, Edwin Rojas, indicated that the measure was deemed necessary for “the use of electronic payment channels and instruments for purchase and sale operations of virtual assets that contribute to the strengthening of financial and commercial activities.”

Although there are no known official records, between 10,000 to 12,000 operations with cryptocurrencies of less than 100,000 bolivianos ($14,479) would be carried out monthly in Bolivia, according to BCB estimates.

Rojas emphasized that Bolivia “cannot be isolated from the technological changes that are occurring in the world.”

In this sense, it considers that the lifting of restrictions on the use of cryptocurrencies, which has been in force since 2020, will allow commercial exchange to be boosted.

The transition in the country in terms of payments had already begun, through operations with “electronic cards, mobile wallet, QR codes, electronic billing,” among other mechanisms.

The BCB is in charge of dissemination campaigns in this regard, to accelerate the population’s acceptance of these assets as methods of interoperability. It has been clarified that any risk in cryptocurrency trading will be assumed by the user.

The president of the regulatory entity made it clear that the Bolivian is the only legal tender in the country; adding that virtual assets are not legal tender and “do not constitute cash” and “have no cash equivalents.” Hence, it is not an obligation to use them in local businesses.

M.Pino

Source: swissinfo

(Reference image source: Galina Nelyubova in Unsplash)

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La entrada Bolivia enabled purchase and sale operations with cryptocurrencies apareció primero en Bitfinance.

The Paraguayan Senate approved increasing the penalty for Bitcoin miners without proper authorization to 10 years in prison, thus continuing the request made last month by Senator Ever Villalba by modifying article 173 of the Penal Code.

The Senate voted on the proposal, which was approved with 29 votes in favor and 7 abstentions (there were no votes against), which also authorizes the seizure and confiscation of ASIC equipment.

Thus, the South American country will increase the penalty to 10 years in prison based on the “crime of theft of electrical energy for commercial or industrial purposes, as well as establishing the confiscation of the equipment used and its subsequent delivery to the National Electricity Administration (ANDE in Spanish)”.

After obtaining approval by the Upper House of Paraguay, it must be sent to the Chamber of Deputies and if it is also approved there, it will be transmitted to the office of President Santiago Peña so that he can promulgate or veto the bill.

It is important to note that there are four other legislative proposals on Bitcoin and activities related to its mining, such as one that proposes its prohibition in the country.

M.Pino

Source: iProup

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La entrada Unauthorized Bitcoin mining will be punished with ten years in prison in Paraguay apareció primero en Bitfinance.

The satellite operations company Starlink was authorized to offer its services in Uruguay by the Communications Services Regulatory Unit (Ursec).

According to a statement from the regulatory entity, “the technology company complied with all the requirements required by Uruguayan legislation to obtain the Class B license for its installation in the country, which they estimate will be during the next 30 days.”

The company, belonging to the well-known SpaceX, chaired by Elon Musk, will proceed to install and activate the satellite terminal stations of users, “including maritime earth stations in motion (ESIM-maritime) and the operation of radio frequencies by said stations,” the report details.

Ursec detailed that the frequencies will be used by Starlink as secondary and shared service.

M.Pino

Source: bancaynegocios

(Reference image source: Mariia Shalabaieva in Unsplash)

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La entrada Uruguay authorizes Starlink operations apareció primero en Bitfinance.

This Monday, March 11, the National Securities Superintendency (Sunaval) authorized brokerage firms to carry out indexed loan operations and margin financing.

The guidelines for these operations are published in circular No. 00004, dated March 11, 2024. The objective is to “promote the development of new financial instruments that contribute to productive leverage, establish the criteria for capital, equity, debt and other liquidity and solvency conditions applicable to securities brokerage companies and brokerage houses, so that they carry out their financial activities in an orderly and transparent manner.”

The circular provides:

• Prior to the first operations, the brokerage firms must present to Sunaval “a product manual on Financial Assets and Liabilities Indexed to Securities and Asset and Liability Margin Financing Operations.”
• The establishment of new equity levels with respect to securities brokerage companies and brokerage houses, which allow preserving the investor’s right to fulfill “the commitments made by the intermediaries.”
• A written framework contract between the parties, detailing “that the client must have a minimum amount for the purchase of the securities subject to the loan by the intermediary. “These operations will be subject to a maximum financing amount.”
• Intermediary institutions in the limited typology must have an initial share capital paid in securities or cash at least equivalent to 40,000 times the reference exchange rate of the currency of greatest value published by the Central Bank of Venezuela (BCV), as of the date of authorization to act as brokerage companies.
• Intermediary institutions must establish a level 1 primary risk guarantee fund, at least 50,000 times up to 99,000 times the reference exchange rate of the highest value currency published by the BCV at the semiannual close.
• Brokerage firms and securities companies must also comply with an equity and risk guarantee index of no less than 50 % and a level 1 index of no less than 50 %.
• Securities brokerage companies in the universal typology must comply with an initial share capital of 40,000 times the exchange rate of the highest value currency published by the BCV and constitute a level 1 primary risk guarantee asset, at least 100,000 times up to 99,000 times the reference exchange rate of the highest value currency published by the BCV at the end of the semiannual period.
• Securities brokerage companies in the universal typology must establish liquid assets equivalent to 55,000 times the exchange rate of the currency with the highest value reflected by the BCV, at the semiannual close.

M.Pino

Source: contrapunto

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La entrada Sunaval authorizes financing operations managed by brokerage houses apareció primero en Bitfinance.

The Bank of Spain approved the entry into operation in the country of the Argentine cryptocurrency exchange Ripio. With this measure, the platform extends its operations to the old continent.

Ripio, which already offers its services in the United States and different Latin American countries, lands in Europe thanks to the approval of the Bank of Spain. In its Twitter account, the platform published that it will act as a “virtual currency exchange service provider for fiat currency and custody of electronic wallets.”

To be authorized to operate in Spain, the platforms must comply with strict requirements by local authorities, such as filling out the “currency exchange registration form, custody service records, risk analysis, and money laundering prevention controls and financing of terrorism.”

Ripio, which has already received the green light to offer its services to Spaniards, joins Bit2Me, which began operations in 2022, after receiving the license from the Bank of Spain. Later, Bitpanda, Crypto.com and Binance were approved.

M.Pino

Source: diariobitcoin

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La entrada Argentine exchange Ripio authorized to operate in Spain apareció primero en Bitfinance.

Airlines will be able to provide the latest 5G network technology on their planes, according to a latest update by the European Commission on on-board communications, which advances the designation of certain 5G frequencies for user communications.

Currently, all airlines encourage passengers to activate “airplane mode” during takeoff and landing of the plane, by means of a light signal that indicates when they must do so.

This is a security measure implemented by companies to avoid interference with any other electrical or telecommunications system on the plane, which, if it exists, could cause a plane crash.

On the rest of the flight, it is possible to use a paid Wi-Fi network on some airlines (including Iberia or Air Europa) when the plane has already exceeded a certain height, and is off both the takeoff and landing runways.

As indicated by the Commission, since 2008 it reserves certain frequencies for mobile communications on aircraft, a decision on on-board communications that has recently been updated with the widespread deployment of 5G services.

Now the EU announced that all passengers on board flights in the region will be able to both keep their electronic devices turned on and their mobile data activated, in order to use 5G networks.

In this way, passengers will be able to access connectivity “to the maximum of its capacity and characteristics, as with a 5G mobile network on land.”

It should be noted that the European Commission also introduced novelties for road transport, where Wi-Fi with 5 GHz frequency bands can be implemented in cars, buses and other means of transport. This will become effective on June 30, 2023 “at the latest”, according to the institution.

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Source: dpa

La entrada 5G networks will be allowed during flights apareció primero en Bitfinance.