Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Trek...I believe any PayPal announcement will be the catalyst for full mainstream adoption. That’s the news that we need to break in 2020 that will fuel the next big move in BTC. Just hope it comes when we have a lot more coins HODL.
More news on the road to ubiquity!...
Kraken's journey to being the USA's first crypto bank is emblematic of crypto's long road to mainstream acceptance.
Earlier this week the Wyoming Banking Board voted to approve the Kraken cryptocurrency exchange's application for a special purpose depository institution (SPDI) charter.
In other words, it became a real bank.
Equal Rights
By becoming a bank, Kraken gets direct access to federal payments infrastructure and it can start offering more funding options for its customers. It also gives Kraken an easier way to navigate the patchwork tapestry of state-by-state regulations that characterises the USA's crypto-regulatory scene.
Plus, the particulars of Kraken's license require it to be fully collateralised at a time when memories of bank failures a decade ago are probably coming to the surface again.
"We would expect to offer a host of new products as we get established," said newly appointed Kraken Financial CEO David Kinitsky. "Those will range from things like qualified custody for institutions, digital-asset debit cards and savings accounts all the way to new types of asset classes. We can engage with securities and commodities and things like that as a bank. So a lot more TBD there."
It's difficult to overstate what a potentially big deal this is, given how much new ground Kraken had to cover to get this far, and how many of the crypto-banking laws and guidelines that now define this new space were created specifically because Kraken was blazing a trail here, with assistance from Wyoming officials.
In July this year the US Office of the Comptroller of the Currency gave US banks the greenlight to hold crypto, and next month the Division of Banking plans to publish the first manual for bank regulations and procedures when handling digital assets.
Entertainingly, Kraken's early history was full of frictions with regulators, especially in New York, and Kraken CEO Jesse Powell hasn't exactly been a big advocate for the banking system in the past. As he said, a banking license definitely wasn't part of the plan when Kraken started.
https://www.finder.com.au/kraken-becomes-first-crypto-bank?utm_source=email_internal&utm_medium=newsletter&utm_campaign=Recurring%2B%257C%2B2020-09-18%2B%257C%2B%255BGX%255D%2BCryptocurrency&utm_content=20200018&utm_term=dbc2a444bc7e4a19b94e5902c54618ba&futm_source=email_internal~dbc2a444bc7e4a19b94e5902c54618ba
PayPal next... pressure is building!
Trek
£1
Someone sees value in BTC big time $425m! ... a precedent? Well the market liked the move!
“On Tuesday, the NASDAQ-listed business services company MicroStrategy bought $175 million worth of Bitcoin. This came just weeks after the company siphoned $250 million into the leading cryptocurrency, citing its ability to act as a reserve asset better than U.S. dollars. At the time, company chief executive Michael J. Saylor said:
“This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
This was a stark reversal from Saylor’s previous sentiment about the leading cryptocurrency. The executive said over five years ago that he thought Bitcoin was on its way out.
Commenting on the latest purchase, Saylor said to crypto outlet CoinDesk that this was a concerted effort to make Bitcoin a reserve asset.”
https://www.newsbtc.com/2020/09/17/microstrategys-stock-continues-to-soar-after-bitcoin-purchase/
“NASDAQ listed billion dollar software company, Microstrategy Inc, a company not involved in cryptocurrency or blockchain, taking the decision to hold its cash reserves of US$250m in Bitcoin on the basis that "this investment reflects our belief that Bitcoin, as the world's most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash" and that "MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy".
And the MCAP increased by more than the investment!
https://www.marketscreener.com/quote/stock/MICROSTRATEGY-INCORPORATE-10105/charts/#
Trek
£1