Argentina To Partner with Binance For Blockchain Projects

According to news reports the government of Argentina will be matching investments made by Binanace labs and LatamEx in blockchain startups in the country.

This means that for every dollar the aforementioned companies make into blockchain start ups, the Argentine government will also invest the same amount, with an upper cap of $50,000.00 USD.

This will be made available via the Accelerator Program of the Ministry of Production and Labor and will last for four years, with as many as ten projects receiving funding annually.

Buenos Aires will be hosting the season two of the Binance Labs Incubator Program which kicks off March 2019, a 10-week program in which Binance will interact with local blockchain technology startups.

The partnership between the Argentine government and Binance marks one of the first cases of public-private partnership in the emerging cryptocurrency and blockchain technology industry.

South Korea Creates Task Force To Go After Crypto-Related Crimes

It has been reported that the South Korean Supreme Prosecutors’ Office (SPO) has recently created a task force with the primary objective of stamping out and prosecuting crypto-related fraud and crimes.

This was reported by the largest national public broadcaster, the Korean Broadcasting System (KBS).

The new task force will serve under the SPO’s authority and will be responsible in investigating fraud, illegal money laundering and other crimes that is related to fintech and cryptocurrencies.

The creation of the task force was in response to the growing number of cryptocurrency related crimes that is related to the cryptocurrency industry.

According to a KBS report crimes related to the said industry have grown 9 times since 2016.

This phenomenon is not only in the Asian country as an increase of crimes related to cryptocurrencies is growing worldwide prompting many authorities to respond accordingly.

Consumers and Investors Still Bullish On Crypto

It is no secret that the current cryptocurrency down trend is one of the longest in its relatively short period of existence.

However, despite this fact, many of consumers and investors remain optimistic on the long term value of cryptocurrencies.

Most of them are willing to bet big on BTC and consumers are diversifying.

This was the conclusion of FINRA-registered broker Sharepost after conducting a survey that revealed people have recently become more optimistic about digital assets.

Aside from the increase of optimism the majority of those interviewed on the survey have expressed intent of increasing their crypto holdings.

The survey involved 1,018 consumers and 96 accredited and institutional investors in which more than 30% of investors surveyed revealed that they owned at least $25,000 worth of BTC and 20% owned a similar amount in ETH.

Beverage Company Selling Its Business To Become A Full Time Blockchain Company

Long Island Ice Tea is now selling its beverage company to Canadian firm ECC22 Ventures.

This comes after renaming its company to Long Blockchain which seen its stock price jump 500% per share.

The company disclosed that it has changed its line of business from a ready-to-drink tea company to cryptocurrency, and will focus on loyalty schemes that will also leverage digital ledger technology.

The sale of the company’s beverage business is a combination of cash and shares in which ECC22 is seeking to raise $2 million to close the deal.

Long Blockchain will get $500,000 Canadian Dollar which is about $372,000 and 9.2 million shares of ECC after the company completes a share consolidation.

Crpto Users In Russia May Need Special ID In The Future

According to news reports officials from Russia’s Duma committee are mulling over the implementation of a mandatory identification process for users of cryptocurrencies.

The move would require the committee to revise its existing regulations to require a mechanim that can be used to identify users of digital financial assets, this would mean that they will have to have a special type certification or visa-like type of document to be able to transfer from crypto to fiat and vice-versa..

This is part of the government’s effort to combat money laundering and will be presented before the State Duma during the second reading this year.

Proponents of the said initiative hopes that if passed will help spur mass adoption of cryptocurrencies and would help reassure companies and citizens that the new type of asset are legitimate and being operated legally.

At the time of writing there has no specific mechanism for this identification process have been announced and no governing body that has been assigned to overseeit.

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