The Minister of Economy of Peru, José Arista, declared this Tuesday that the country hopes to sign a double taxation agreement with China by the end of the year.

According to the official of the South American nation, this agreement will also seek to open the Chinese market for Peruvian meat and agricultural products, taking into account that there is already a Free Trade Agreement between both countries.

Arista indicated that both China and Peru are in the final steps of these negotiations that will provide the Andean country with advantages in terms of institutional stability and norms. “There is also Peru’s recognition of China as a market economy. And, thirdly, we will be signing a double taxation agreement with China, whose negotiations should be completed by the end of this year,” Arista added.

The minister is planning a trip to China from June 23 to 30 with the President of the Republic, Dina Boluarte, and the Minister of Agrarian Development and Irrigation, Ángel Manero. The visit “will seek the possibility of exporting Peruvian meat and agricultural products to the Chinese market.”

Faced with external markets, with highly demanding standards, Peru must seek to position itself at the same level, according to Arista, with a view to meeting international demands.

M.Pino

Source: americaeconomía

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada Peru and China refine details for signing double taxation agreement apareció primero en Bitfinance.

Cryptocurrency expert Geoffrey Kendrick of Standard Chartered predicts that the value of Bitcoin could reach $150,000 if Donald Trump is re-elected President of the United States.

Kendrick supports his estimates on the value of the market’s leading cryptocurrency by taking into account that “BTC spot exchange-traded funds (ETFs) continue to experience significant inflows.”

The expert noted last Thursday: “I stand by my forecasts of $150k for BTC by the end of 2024 and $200k by the end of 2025.” Adding that as the date of the presidential elections in the United States approaches, the value of bitcoin is gaining strength and generating more confidence in investors.

For this Sunday, June 9, the value of the cryptocurrency stood at USD 69,521, experiencing a slight decrease in the bullish streak in May. On the other hand, the average price of the fee for a transaction in this digital asset reached its highest level since April on Friday, June 7, standing at $80.

M.Pino

Source: coindesk

(Reference image source: engin akyurt in Unsplash)

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The Central Bank of Brazil indicated recently that the proposed regulation for the use of cryptocurrencies and the operation of service providers will be known by the end of 2024.

Last year, in his appearance before Congress, the bank’s regulatory director, Otavio Damaso, had indicated that the regulation would be completed in June 2024. However, with the recent decision, all the work that had been carried out since 2022 was delayed and which had been consolidated in 2023 with the adoption of the Legal Framework for Cryptoassets.

With this measure, the Central Bank of Brazil adopts a gradual approach to the application of regulations on cryptocurrency trading and service providers, with the possibility of “adapting and responding to the rapidly evolving cryptocurrency market, while ensuring that regulatory measures are solid and comprehensive,” according to the Binance portal.

The regulatory body seeks robust regulations that provide security and confidence to the crypto market in Brazil, in addition to “protecting investors in this type of assets and demanding transparency about the risks associated with investing in cryptocurrencies,” Swissinfo reports.

In the second half of the year, the Central Bank will carry out a new consultation that includes the participation of civil society on the issue of regulation. Likewise, “it will take into account the proposals of international organizations and will have the support of the Brazilian Securities Commission when it comes to specific virtual assets that affect its powers.”

Key market aspects such as anti-money laundering and terrorist financing laws will be evaluated.

M.Pino

Source: swissinfo

(Reference image source: Ewan Kennedy in Unsplash)

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La entrada Crypto regulation proposal in Brazil will be revealed at the end of the year apareció primero en Bitfinance.

The president of the Venezuelan Banking Association, Pedro Pacheco, pointed out that by the end of 2024 between 75 and 80% of banks will have implemented contactless technology and that by the beginning of 2025 its incorporation is expected to be 100 %.

Pachecho gave the information during an interview for Unión Radio, and “advanced that the initial limit of the card will be $20 to speed up the process and evaluate how it works.”

The official clarified that if the user spends more than $20, the system will ask for the password and that as the amounts increase, the demands will be greater.

Facilitating transactions and offering greater security to national banking users is the focus of technological initiatives by national authorities.

M.Pino

Source: elaragueno

(Reference image source: naipo.de in Unsplash)

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La entrada Contactless technology will be in more than 75% of banks by the end of 2024 apareció primero en Bitfinance.

Customers of the FTX cryptocurrency platform who were affected by the bankruptcy will begin to receive their money refunded at the end of 2024.

This was recently agreed by the joint official liquidators of FTX Digital at a meeting in the Bahamas.

The bankruptcy of the cryptocurrency platform involves two processes that are developing in parallel, which are “the bankruptcy under Chapter 11, which is settled in a court in Delaware (United States), and the official liquidation process of FTX Digital, FTX’s Bahamas-based subsidiary, due to the “hopelessly mixed” nature of FTX’s accounting.”

To comply with affected clients, both parties will work together so that “no creditor receives less than the value to which they are entitled.”

The decision to pay the funds establishes that the Chapter 11 debtors and the joint official liquidators will make the first provisional refund in late 2024 to creditors with claims that were admitted “and satisfactory documentation.”

Since March 1, creditors began submitting claims on the FTX portal for this purpose. The deadline for creditors to choose one of the two bankruptcy processes and submit their claim is May 15, “although according to the meeting, the deadline is expected to be extended to at least June 2024 based on the latest developments.”

M.Pino

Source: cripto247

(Reference image source: Vladimir Solomianyi in Unsplash)

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La entrada Refund of money to FTX clients will begin at the end of 2024 apareció primero en Bitfinance.