E-money license for Coinbase Company in Ireland

Coinbase obtains e-money license in Ireland

The central bank of Ireland granted Coinbase an e-money license. Coinbase representatives said the license is necessary for the expansion of operations in the European Union.

Coinbase already has an e-money license in the UK, but with Brexit it would not allow the exchange to operate in the European Union.

“The license is a B plan for Brexit. As we plan all eventualities, it is important that we continue to serve customers throughout Europe, and Ireland is our preferred choice there, ”

said Zeeshan Feroz, Coinbase’s UK branch manager.

In October 2018, Coinbase opened a crypto-to-crypto exchange in Dublin, and the new license will solidify their presence on the European market.

Ukraine is working on the legalization of cryptocurrencies

The new Kiev administration, led by President Volodymyr Zelensky, has brought renewed interest in cryptocurrencies. The Ministry of Digital Transformation of Ukraine has proposed a series of new bills establishing a clear status for cryptocurrencies and promoting the blockchain industry.

Government officials stressed that although they are not banned in Ukraine, they do not currently have official status. Their legalization is necessary to protect the companies that deal with them and to increase the budget revenues from the taxation of these activities.

A parliamentary group called “Blockchain4Ukraine” was organized which elaborated a program with the necessary steps to legalize the domain. These include legalizing mining, attracting international exchanges in Ukraine and developing the necessary legal terminology. It also mentions the adoption of changes to existing legislation, the implementation of FATF money laundering standards, and the integration of blockchain technologies into government registers.

Another bill proposed by the Blockchain Association Ukraine is considering the creation of a Crypto-valley.
According to a statistics obtained last year, 13% of Ukrainians own cryptocurrencies.

Oxford dictionary adds the term “Satoshi”

The Oxford English Dictionary (OED), published by Oxford University Press, has officially added the word “Satoshi” to its database.

The OED defines Satoshi as: “The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.”

Bitcoin was added in December 2014 and is defined as

“Digital currency in which transactions can be carried out without the need for a central bank.”

The Libra Association signs the charter and creates the governing board

The controversial Libra Association finally signed the charter and established the board of directors, a few days after losing several important founding members. The 21 official members are Coinbase exchange, Xapo custodians, Anchorage, Bison Trails. Creative Destruction Lab, Andreessen Horowitz, Thrive Capital, Ribbit Capital, Union Square Ventures. Breakthrough Initiatives, Illiad, Vodafone, Farfetch, Uber, Lyft, Kiva, Mercy Corps. Women’s World Banking, Spotify and PayU.

The Libra Association Council consists of David Marcus, the project leader from Facebook, Kathryn Haun, general partner at VC Andreessen Horowitz; Matthew Davie, Kiva’s director of strategy and Patrick Ellis, general counsel at PayU.

The association mentioned on October 14 that over 1,500 organizations are interested in joining the initiative. Only 180 entities meet the membership criteria of the association. To join, a two-thirds vote of the 21 members of the board of directors is required.