Altcoin News Daily Official TheBitTimes.com

Eric Trump, son of US President Donald Trump, says his family turned to crypto after several banks closed accounts linked to the Trump Organization after the Capitol attack in 2021. Speaking to the Wall Street Journal, he said that their bank accounts were shut down without warning, leaving them to depend on smaller banks until they found a new partner. “That’s when I realized how weak the financial system is and how easily it can be turned against you,” he said. Trump believes the closures were politically-motivated. He also compared the situation to how crypto companies have struggled to access banking under the former Joe Biden administration. “This system was weaponized against them, just like it was against us,” he added. Eric Trump on the President’s turn towards crypto… Says came down to Biden admin cutting off crypto industry access to banking. “This whole system was weaponized against them, no different than it had been w...

South Africa’s financial regulators want crypto startups operating in the country with foreign head offices to set up local offices to ensure “appropriate oversight and ensure accountability.” Per a recent study from the Financial Sector Conduct Authority (FSCA), approximately 10% of virtual currency service providers in South Africa have their centers of operation abroad. The FSCA argues that oversight in South Africa became “insufficient” after crypto currencies were declared financial products last year. To offset the issues, the agency wants companies to set up shop. REGULATION | South African Regulator to Require Local Presence for International Crypto Companies According to FCSA, about 10% of Crypto Assets Financial Service Providers operating in South Africa have their head offices in foreign countries. FCSA says a physical presence… pic.twitter.com/CgFrYrEjGD — BitKE (@BitcoinKE) December 9, 2023 The South African financial regulatory body describes crypto assets...