Bitcoin daily: Baanx obtains FCA approval for cryptocurrencies

Bitcoin daily: Baanx obtains FCA approval for cryptocurrencies

With the approval, the company has become an official cryptocurrency businesses and will be able to give “better than a loan” secure cryptodraft services — letting holders get funding from 0% annual percentage rate (APR), letting them spend against their collateral more easily.

Story Highlights:

  • Baanx has seen massive growth in the last year, and works on providing compliant and secure crypto assets.

  • Meanwhile, Peru’s Congress has introduced a new framework legislation for regulating cryptocurrency, a Wednesday report says.

The project, presented by José Luis Elías Ávalos of the Podemos Peru parliamentary group in December, defines concepts like crypto assets, virtual asset service providers (VASPs), blockchain and cryptography.

The draft says the companies have to inform users that Peru doesn’t consider crypto legal tender, and that government supervision of them doesn’t guarantee risk protection.

The report says the law will propose making a public registry for VASPs, which users will be able to look at to see whether a company has been registered to do business in Peru. It also lists conditions for companies to operate lawfully.

Furthermore, Airbnb CEO Brian Chesky held a Twitter poll asking what users want from the vacation rental platform, with many respondents saying they want the ability to pay in cryptocurrency.

A Cointelegraph report Wednesday said that Chesky has seen several token ideas, which seemed to imply that if Airbnb puts crypto payments into play, it will have more than one or two assets to use.

Chesky has said in the past that the company has gotten “a lot of requests” for crypto payments and that the company was looking into it. Finally, bitcoin has seen its lowest price in a month, with minutes from the Fed’s December meeting showing that officials talked about shrinking the bank’s huge $8.3 trillion balance sheet.

Prices have rallied in recent years, with investors betting that bitcoin would help hedge against rising prices due to more money printed to support the economy during the pandemic. A move to shrink the balance could hurt bitcoin’s momentum.


About:More than half of U.S. consumers think biometric authentication methods are faster, more convenient and more trustworthy than passwords or PINs — so why are less than 10% using them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception versus use gap and identify ways businesses can boost usage.

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