#CryptoCorner: BTC Bull Run Outpaces Altcoins, Mastercard (NYSE: $MA) Lists #Crypto/ #Blockchain Positions, Thai AML Laws to Encompass Crypto and Iran Won’t Recognize Crypto Trading
#CryptoCorner: BTC Bull Run Outpaces Altcoins, Mastercard
(NYSE: $MA) Lists #Crypto/ #Blockchain Positions, Thai AML Laws to Encompass
Crypto and Iran Won’t Recognize Crypto Trading
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August
5 Crypto Corner
Stocks discussed: (NYSE:MA) (NasdaqGS:FB)
As we begin another
week, we find the crypto market in yet another bull run. Bitcoin (BTC) first rose back
above the $10,000 support level on Wednesday last week, after having briefly
dipped below it on the previous Saturday (July 27). Yesterday saw considerable
growth leading to Bitcoin’s current trading price of $11,750 USD, according to
data from CoinMarketCap. Bitcoin is
outpacing altcoin growth, as has been typical of this year, and consequently
accounts for a share of 67.7 percent of the total crypto market.
Mastercard (NYSE:MA) has listed
several jobs for blockchain and crypto professionals on the hiring page of its
website. Among these are: senior
blockchain engineer,
blockchain
software engineering lead, blockchain
solutions architect,
VP of
blockchain/crypto product management, and director
of crypto wallet product management. Though Mastercard is already a member of
Facebook’s (NasdaqGS:FB) Libra Association, these postings
could be hinting at a possible foray into the crypto wallet space by the
former.
The Bangkok
Post
reports that Thailand’s acting secretary-general of the Anti-Money Laundering
Office (AMLO), Preecha Charoensahayanon, says that cryptocurrency will be used
for money laundering and that the government will amend AML laws to address
this. He said that the country’s Anti-Money Laundering Act will be updated to
require crypto exchanges to report activities to AMLO. An excerpt from the
article outlines the secretary-general’s intentions:
In his view, Amlo's work will be focused on two areas
in the near future -- one involving its traditional duty to prevent and crack
secret plots to hide illegal assets, and the other in connection with the
unfamiliar role of probing new hideouts in the cyber world.
The government of
Iran has issued new regulations which make the trading of cryptocurrencies
illegal in the country, according to local outlet PressTV. On Sunday, the
cabinet ruled that the government and central bank of Iran would not recognize
cryptocurrencies as legal tender. The same bill that makes crypto trading
illegal, however, recognizes the provisional legality of crypto mining in the
country. An excerpt explains:
…the bill said mining digital currencies
would be allowed inside Iran under certain conditions, including if miners
obtain the approval of Iran’s industry ministry, do not mine the currencies
inside a 30-kilometer boundary of all provincial centers except for the capital
Tehran and the central city of Esfahan where tougher restrictions apply.
It said the miners should also observe
rules set by Iran’s standardization and communications authorities for mining
machines, adding that certain fees will be applied for the energy used for
mining the currencies.
Sam Mowers,
Investorideas
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