Amid the known restrictions on Chevron’s operations in Venezuela, authorized by the United States, the president of the South American nation, Nicolás Maduro, has invited European energy companies to invest in the country, emphasizing that they do not require licenses from Washington.

Venezuelan President Nicolás Maduro stated in a press conference on September 1 that while Chevron’s operations are subject to the conditions established in the license from the United States Office of Foreign Assets Control (OFAC), European energy companies are free to come and invest.

 

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He added that even US companies interested in investing in the national oil sector can do so as long as they do so within the framework of the law and the Venezuelan Constitution.

Maduro questioned the situation regarding oil investments in the country: “Until when will Europe subordinate itself to what Washington dictates? Here you are free, come and produce, let’s continue producing with or without licenses,” the president emphasized in a press conference with foreign media.

M.Pino

With information from national and international media and social media

(Reference image source: Delfino Barboza on Unsplash)

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La entrada European energy companies do not require a license to operate in Venezuela apareció primero en Bitfinance.

The new regulations that will govern the trading of digital assets in the United Kingdom will come into force on October 8. The Financial Conduct Authority (FCA) has stressed that companies that do not adhere to the rules will face penalties of up to two years in prison.

The regulatory body establishes that October 8 is the deadline for all crypto companies to be registered in its financial promotions’ regime.

The FCA has made all the pertinent calls and contacts with crypto companies in order for them to comply with the new regime of financial promotions in the country.

By the deadline, all companies in the crypto sector must have their regulatory permits after having completed the necessary procedures before the FCA.

The entity clearly establishes that “in the event of refusing to comply, those responsible for the crypto companies in question will resort to a criminal offense”, with a penalty of two years in prison.

Also, according to the FCA, the requirements that companies must meet to legally offer cryptocurrencies in the United Kingdom can be summarized in four: “first, an authorized person communicates the promotion to potential investors; second, an unauthorized person communicates the promotion, but an authorized person finally approves it; third, an FCA-registered crypto business communicates the promotion to any potential investors, and the latter option facilitates the promotion by fulfilling the conditions of an exemption in the Financial Promotion Order.”

Any promotion made outside the rules “will be in breach of section 21 of the Financial Services and Markets Act 2000 (FSMA), which could also mean up to 2 years in jail, a fine or both.”

M.Pino

Source: bitcoin.es

(Reference image source: Amjith S, Unsplash)

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La entrada UK will apply new crypto regulation in October apareció primero en Bitfinance.

The Bank of Thailand revealed that it plans to allow virtual bank operations by 2025, supported by companies that make a living in the world of finance.

The publication of the “Consultation document on the framework for granting licenses to virtual banks” talks about the start of applications to be part of this category, which will begin at the end of 2023.

This action will allow virtual banks to act as financial service providers, focusing on increasing competition and driving economic growth in Thailand.

The Bank of Thailand will issue three different licenses to interested companies before 2024. There are at least 10 interested in granting permits, according to the report. Regulation and supervision of virtual banks will be the same as traditional commercial banks under licensing. In addition, qualified applicants will have to meet certain requirements.

K. Tovar

Source: Cointelegraph

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La entrada Thailand will have virtual banks apareció primero en Bitfinance.

The Venezuelan government, according to the Bloomberg news agency, would be in talks with the giant Siemens Energy to take charge of the recovery of power plants in the South American country.

According to what was reported in this medium, the United States would have granted Siemens the pertinent licenses to work jointly with PDVSA, the state oil company, and Corpoelec, the company in charge of the national electricity sector.

It is known that the situation of the electrical system in Venezuela has been going through critical moments, characterized by blackouts and prolonged effects throughout the territory. The main reason is the inadequacy of the stations, as well as the lack of maintenance and investment.

According to Bloomberg, Siemens Energy would have signed contracts with Venezuelan government authorities to work on gas and diesel generation facilities, mainly responsible for providing service to Caracas, the capital.

Information has been leaked about the investment in this negotiation with the German company, which would be in the order of 1,500 million dollars, for the recovery of 9 thousand megawatts of production by the year 2025.

M.Pino

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With information from national and international media

La entrada Siemens would work on reconstruction of power plants in Venezuela apareció primero en Bitfinance.

Official Gazette No. 43 Ordinary, released on Tuesday, April 26, published the resolution approved by the Central Bank of Cuba, where Bitcoin (BTC) and other cryptocurrencies services and platforms are authorized on the island.

The approved legislation provides for the delivery of licenses to natural or legal persons who wish to operate services with bitcoin and virtual assets as a business. Said law will enter into force as of May 16 of this year.

Cuba has historically been characterized by its restrictive policies on the economic and financial sector. However, with the approval of this new law, the Caribbean island “takes another step forward to adopt Bitcoin and its industry.”

On the other hand, the new legislation will allow local and foreign companies to emerge to operate with cryptocurrencies and offer their services in the country.

Central bank responsible for granting licenses

In accordance with the provisions of the Official Gazette, the Central Bank will be the only body authorized to grant licenses, both to natural and legal persons, who wish to operate services with Bitcoin and virtual assets.

Likewise, it indicates that the financial entity before granting the license must evaluate “the legality, opportunity and socioeconomic interest of the initiative, the characteristics of the project, the responsibility of the applicants and their experience in the activity. The Central Bank of Cuba issues the license, after consulting the Cryptoactive Group”.

Due to the novelty and experimental nature of these activities, the licenses granted will last for one year, extendable for a second year. The law also establishes that “virtual asset service providers cannot cease their operations without authorization from the Bank.”

M. Rodríguez

Source: thecoin.news

La entrada Central Bank of Cuba approves regulation of cryptocurrencies apareció primero en Bitfinance.

Deputy Carlos Rejala and Senator Fernando Silva Facetti presented a legislative proposal called “Law that regulates the industry and commercialization of virtual assets and crypto assets“. The law will regulate all activities related to Bitcoin (BTC) or digital mining in Paraguay.

The legal instrument establishes the Ministry of Industry and Commerce as the entity responsible for coordinating the authorization, registration, supervision and control of everything concerning Bitcoin.

The Ministry will delegate functions to three other agencies: the National Securities Commission, the Secretariat for the Prevention of Money or Property Laundering (Seprelad) and the National Electricity Administration. The latter will focus on cryptocurrency mining, which is defined by the deputies as an innovative activity.

“We believe that it is the best for our country and a really impressive model to replicate in other countries. There are a lot of people involved to remove this, which is incredible”, highlighted the parliamentarian Rejala.

Business authorization

The proposed law is made up of four chapters and 22 articles, among which the application and issuance of licenses for mining companies, cryptocurrency traders, who are called “intervening agents” are contemplated.

It also establishes the development and registration of exchanges and service providers for digital assets, as well as the construction of an energy consumption plan that allows supplying the emerging industry.

The law establishes that “those companies or individuals that carry out activities outside the regulations could be sanctioned with administrative or even criminal measures. That is, offenders could go to jail“. Those who commit “tax or criminal offenses regulation could lose licenses and receive fines.”

M. Rodríguez

Source: noticiasdebariloche

La entrada Paraguay will regulate the digital assets industry apareció primero en Bitfinance.