On Wednesday, January 24, 2024, elections were held for the new board of directors of the Bolsa de Valores de Caracas (BVC in Spanish), in a journey that marked a milestone in the history of the institution.

With a total of 31,000,000 shares in his favor, Horacio Velutini established himself as the new president of the BVC, defeating his opponent José Tomás Carrillo Batalla.

Velutini, a successful and respected entrepreneur in the financial sector, proposed an innovative and technological vision for the BVC, breaking with the tradition of stable and conservative leadership. His victory opens the door to radical changes in the direction of the BVC, which seeks to be part of the economic recovery of the country.

“What needs to be highlighted is the unity of all, the participation. The fact that this call was full of shareholders and interested people shows that there is interest in the stock market as such. The BVC has to grow the market: that’s the essence” said Velutini.

Investors and members of the Caracas Stock Exchange gathered early in an atmosphere of expectation and excitement, witnessing a historic event for the Venezuelan stock market.

K. Tovar

With information from the Bolsa de Valores de Caracas, national media and social networks

(Reference image source: File and X, @contrapuntovzla)

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La entrada Horacio Velutini is the new president of the Bolsa de Valores de Caracas apareció primero en Bitfinance.

The Canadian Securities Authority (CSA) announced proposed changes to the regulations governing the management of crypto assets by public investment funds. These amendments, which are currently under consideration, aim to restrict the operations of such funds in the field of cryptocurrencies and to establish specific criteria for their custody.

Under the proposal, only AIFs and non-redeemable funds would be allowed to directly acquire, sell or hold crypto assets. The other mutual funds would be able to invest in crypto assets exclusively through these specialised funds. In addition, assets selected for investment must be listed on a stock exchange recognized by a securities regulator in Canada and be fully fungible.

The new provisions also stipulate that assets must be insured and stored in cold purses. An annual review of the custodian’s internal management practices, conducted by a public accountant, will be implemented.

These amendments will be incorporated into National Instrument 81-102 on Investment Funds and its Complementary Policy. It should be noted that a national instrument in Canada represents a regulation or mandate adopted at the provincial and territorial level across the country.

In the words of the CSA: “These measures seek to facilitate the development of new products in the crypto-asset space, ensuring the incorporation of appropriate risk mitigation strategies into the regulatory framework of investment funds.”

These amendments are part of a draft that was announced in July. Proposals will be subject to a 90-day public consultation period, following which a consultation paper will be drafted and a broader regulatory framework for cryptoassets will be assessed.

K. Tovar

Source: Cointelegraph

(Reference image source: Unsplash+)

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La entrada Canada to amend its rules on cryptoassets apareció primero en Bitfinance.

Evergrande, a Chinese real estate company, suspended the listing of its shares on the Hong Kong stock exchange, as well as its two subsidiaries: the real estate management company Evergrande Property Services and the electric vehicle manufacturer Evergrande New Energy Vehicle, due to the financial situation that The real estate giant has been reporting.

The information was provided by the Shanghainese newspaper The Paper, which also noted that “Evergrande would have closed the sale of its 30 % stake in a developer in the eastern city of Nanjing”, in Jiangsu province, but admitted that the details are unknown. Details of the transaction.

It was also learned that the real estate giant held meetings with “creditors of an onshore bond estimated at 4,000 million yuan, which is equivalent to about 628 million dollars, where it was agreed that the cancellation of interest accrued between September 2020 and 2021 would be It would take place next September 2022.

It was also released that the Evergrande company must cancel a bond listed on the Singapore Stock Exchange for an amount equivalent to 2,100 million this Wednesday, March 23, 2022.

Evergrande’s financial deficit

In the middle of last year, mistrust arose over the financial status of the real estate complex, since it had accumulated liabilities of more than 300 billion dollars. These fears increased when it began to show signs of inability to cancel the payments of its “offshore” bonds.

Agencies specializing in risk rating such as Fitch revealed, last December, that Evergrande and other Chinese developers such as Kaisa were not paying their debts abroad. The financial situation of many Chinese real estate companies worsened after Beijing announced, in August 2020, the restrictions on access to bank financing for companies that had accumulated a very high debt, as is the case of Evergrande, which for years were supported with “aggressive leverage policies.”

M. Rodríguez

Source: bancaynegocios.com

La entrada Evergrande suspends listings on the Hong Kong stock exchange apareció primero en Bitfinance.

Intercontinental Exchange (ICE), the company that owns the New York Stock Exchange (NYSE), has announced a remodeling of the management leadership of the manager of the New York Stock Exchange, which will mean the replacement from next year of the company’s president, Stacey Cunningham by Lynn Martin.

In addition to the appointment of Martin, current chair of the fixed income and data services area of the ​​ICE, the parent of the manager of the New York Stock Exchange has appointed Sharon Bowen, a director of both firms, as the new chairman of the NYSE board.

On the other hand, Mark Wassersug, ICE’s chief operating officer, will move to a new position as the entity’s chief information officer, overseeing leading technology implementations and working closely with Mayur Kapani, ICE’s chief technology officer, whom he will replace. in office.

As this happens, Stuart Williams, who is currently President of the ICE  Futures Europe, will move to the position of Chief Operating Officer, reporting to the President of the company, Ben Jackson.

“The organizations around the world adapt to a world transformed by the pandemic, and our management team evolves along with the market environment,” stated Jeff Sprecher, founder, president and CEO of the ICE.

Source: dpa

La entrada Lynn Martin named president of the New York stock exchange apareció primero en Bitfinance.

WeWork was successfully listed on the New York Stock Exchange and listed on Wall Street, under the symbol WE, after announcing its business combination with special-purpose acquisitions company BowX Acquisition Corp.

WeWork is currently in charge of offering spaces to satisfy the growing demand for “flexible solutions” that has allowed the company, in the third quarter of 2021, to increase its monthly income sequentially.” It has demonstrated the resilience of the business model and its strong long-term value proposition.”

Additionally, the company is focused on visualizing the new opportunities in the environment to diversify the market and increase income through the digitization of its real estate offers and the commercialization of its technological solutions.

Thus, as of the third quarter of this year, the membership that offers access to all WeWork locations globally, All Access, achieved 32,000 acquisitions.

Marcelo Claure, Executive President of WeWork and Sandeep Mathrani, CEO of the company who will be digesting the company during the execution of its strategic plan stated: “As our way of living and working changes, WeWork leads a of the biggest disruptions in the real estate industry with space solutions that have never been so in demand.”

New times

The Covid-19 pandemic definitely changed the world and the way of relating to work. The most repeated question in the virtual corridors of all companies is the need to physically return to the offices or continue with the home office.

Faced with this scenario, the hybrid model – some days people will attend the office and complete the work week at home – is gaining prominence and in this context WeWork, the rental office giant, opens four strategic locations that they bet on this new labor flexibility.

The company is looking for its balance in the roots that made it grow and the new reality. Offering work areas adaptable to the needs of its users, with care and sanitary protocols according to the new times. It evidences that the company adjusted its business model to adapt to the demand in all markets where it has a presence, like Asia, Europe and the United States.

M.Rodríguez

Source: iproup.com

La entrada WeWork debuts on the New York stock exchange apareció primero en Bitfinance.

AnyCryptoStock is the first cryptocurrency exchange to function as a decentralized exchange, as announced in a press release on Cointelegraph. 

Now the exchange will allow the trading of shares through crypto, which will be issued by the Crypto Stock Foundation through pairs of USxD stablecoins.

The intention of its creators is to adapt the platform to the regulations offered by the Crypto Stock Foundation service in order to promote a financial instrument that serves both professional and retail traders, thus bringing together a broad crypto market.

As specified by AnyCryptoStock developers, this exchange “could be the future of investments”, ensuring that to date “the world of traditional finance has been exclusive to some traders and investors” and with AnyCryptoStock the independence of investment budget is critical.

In addition, its clients will have the “ability to start trading on Google, Facebook, Netflix, among many others”, as the company assured, and it is expected that the platform can issue more shares in crypto in order to provide a range of wide options to its client portfolio.

K.Villarroel

Source: Cointelegraph

La entrada AnyCryptoStock, the first crypto stock exchange  apareció primero en Bitfinance.