How to Buy Bitcoin SAFELY & Store It – Get Started Buying Cryptocurrency
Buying Bitcoin require deposit of fiat currency via credit card (expensive_ or bank transfer (cheaper). Find a cryptocurrency exchange or trading platform to trade Bitcoin safely. Bitcoin trading fees can be 0.5% to 0.75% or as high as 3.5% if paying by card. You can buy Bitcoin with Paypal and P2P also. Store your Bitcoin in a Bitcoin wallet (either hard or soft).
Disclaimer: This video is for informational purposes only. It is not financial advice and is not an endorsement of any provider, product or service. All trading involves risk.
Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits
The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers.
According to Sputnik Kyrgyzstan, the central bank’s bills hope to add a series of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures that should force local crypto exchanges to report their activities. The country wants to reduce the risks of financing terrorist activities and to cut flows of criminal proceeds.
One of the motivations behind introducing such crypto bills is the growing interest among the cryptocurrencies in the country, said the NBKR, as most of their citizens consider it a widespread means of investment nowadays and a solution for cross-border payments.
However, the central bank provided the following issues that they expect to solve with one of the bills by monitoring transactions made through the country’s crypto exchanges:
“Lack of a favorable environment for the development of technology and business; the emergence of fraudulent schemes, the risks of financing terrorist activities and legalization (laundering) of criminal proceeds, as well as capital outflow; protection of consumer and investor rights.”
But the second bill also aims to force local exchanges to abide by a legal framework to fight crypto fraud, comply with a crypto-related tax system, applying for operation permits that should be asked to the NBKR, and also seeks to define terms such as “virtual asset” within the civil code, plus “cryptocurrency” and “cryptoassets.”
Per the local media outlet, the proposed regulation seeks to restrict legal entities and individuals’ rights to participate in the circulation of cryptocurrencies across the country, except exchanges and crypto miners. However, this point is pending to be defined in a final draft, as its definition remains ambiguous.
On August 11, 2020, news.Bitcoin.com reported that Kyrgyzstan proposed a 15% tax on bitcoin (BTC) mining to raise money to fight against the coronavirus pandemic in the nation.
What do you think about the upcoming crypto bills in Kyrgyzstan? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Author: by cryptoregradar
Kraken Users Are Staking More Than $1B in Crypto
More than $1 billion worth of cryptocurrencies have been staked through Kraken’s staking service, the crypto exchange announced on Tuesday. A third of that amount is in ether, roughly more than 300,000 ETH, according to a spokesperson from the San Francisco-based crypto exchange. Other popular cryptocurrencies on Kraken’s staking services include tezos (XTZ) and polkadot (DOT).
Kraken’s users have staked about 58 million DOT (approximately $580,000,000) and 45.5 million XTZ tokens (about $22,500,000), according to data provided by Kraken.
The fast growth of the staking value reflects the many long positions of investors and traders in cryptocurrencies, according to Jeremy Welch, Kraken’s vice president of product.
“Staking” refers to locking up one’s cryptocurrencies to receive rewards for participating in transaction validation on a proof-of-stake blockchain. Many crypto exchanges offer staking services so users do not have to stake their coins directly from their wallets.
Kraken started providing the Ethereum 2.0 staking service on Dec. 3. It warned its users in a blog post at the time that staking is mostly for “long-term ether holders” because “staking ether cannot be unstaked and, along with staking rewards, cannot be transferred for an unknown period of time.”
Author: News Bureau