News 

Argentina’s $15 billion dollar burn stems peso rout: for now

“Central bank reserves stand at $51.3 billion, central bank data show, down from $66.3 billion before the August primary” writes Midwest Communications Inc for 95kqds.com. Private sector bank deposits in pesos also held stable at around 2.4 trillion pesos, central bank data showed.Central bank data showed reserves tumbled 22% since Macri was trounced in an Aug. 11 primary election by Peronist rival Alberto Fernandez.Private sector dollar deposits have fallen around a quarter to $24.2 billion from $32.5 billion before the primary.The peso lost a quarter of its value against the…

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Crypto Futures News 

Bitcoin Deposited in Bakkt Warehouse Protected by $125M Insurance

“All Bitcoin deposited at the Bakkt Warehouse is protected by a $125 million insurance policy, the company announced Sept. 9” writes Jack Martin for cointelegraph.com. It took Bakkt a lot of time and effort to gain regulatory certification for its upcoming daily and monthly physically-delivered bitcoin futures products. Existing futures products from the Chicago Mercantile Exchange are cash-settled, whereas Bakkt clients will receive payment in Bitcoin once the futures contract expires.Bakkt started accepting deposits and withdrawals Sept. 6, ahead of the proposed launch of its futures products on Sept. 23.News…

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Crypto Futures News Platforms 

Bakkt Warehouse Launches Deposits and Withdrawals as Planned

“Bakkt Warehouse, a qualified custodian of crypto trading platform Bakkt, is now accepting customer Bitcoin (BTC) deposits and withdrawals” writes Helen Partz for cointelegraph.com. As the company tweeted on Sept. 6, Bakkt Warehouse has officially launched in accordance with the plans revealed on Aug. 28.According to a Bloomberg report, Bakkt will be the first platform to offer physically-delivered Bitcoin futures if launched successfully.The platform will enable two types of physically-delivered Bitcoin futures with end-to-end regulated markets and custody, as previously reported. Source: cointelegraph.com

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Celsius Network to Offer Compounding Interest on CEL Deposits

“Celsius Network, a crypto lending and borrowing platform, on Thursday, announced that it will offer compounding interest to its members holding CEL tokens at a rate of 3 percent per annum” writes Arnab Shome for financemagnates.com. The company also detailed that it will fund the interest on the CEL token deposits from its existing treasury which it maintains with the spread from the loans issued from the network.The company also revealed that it is aiming to give back 80 percent of its earnings back to the project’s community.The official announcement…

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Crypto Futures News Platforms 

Bakkt Clients Can Start Warehouse Deposits on Sept. 6

“Bakkt clients will be able to start depositing their funds in the Bakkt Warehouse for physically delivered Bitcoin (BTC) futures starting Sept. 6” writes Helen Partz for cointelegraph.com. On Aug. 28, the much-anticipated crypto trading platform Bakkt announced on Twitter that its qualified custodian, Bakkt Warehouse, will begin offering storage of customer’s Bitcoin in early September.Storage will start weeks before the scheduled launch of its platform for daily and monthly crypto futures in the United States on Sept. 23.The Bakkt Warehouse, a part of Bakkt Trust Company, was developed using…

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News 

‘Operation Clean Money’, Launched After Demonetisation, Has Made No Progress, Shows RTI

“More than 9.27 lakh responses were received giving information on 13.33 lakh accounts involving cash deposits of around Rs.2.89 lakh crore” writes Prasenjit Bose for huffingtonpost.com. Scrutiny of about 18 lakh accounts, prima facie, did not appear to be in line with their tax profile.This author had submitted queries under the RTI Act, regarding the recovery of unaccounted wealth/black money, to the Directorate of Income Tax.Not just that, over the past two years, the finance ministry has made repeated claims regarding the progress made in retrieving black money through ‘Operation…

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The Modi’s govt’s demonetisation gambit has only caused pain, not profit, shows a close reading of the RTI response and other information.

“More than 9.27 lakh responses were received giving information on 13.33 lakh accounts involving cash deposits of around Rs.2.89 lakh crore” writes Prasenjit Bose for huffingtonpost.com. Scrutiny of about 18 lakh accounts, prima facie, did not appear to be in line with their tax profile.This author had submitted queries under the RTI Act, regarding the recovery of unaccounted wealth/black money, to the Directorate of Income Tax.Not just that, over the past two years, the finance ministry has made repeated claims regarding the progress made in retrieving black money through ‘Operation…

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News 

SFC Fines Guosen Securities HK$15.2m for Violating AML rules

“The Hong Kong regulator said that those deposits were worth around 5 billion Hong Kong dollars ($637 million)” writes David Kimberley for financemagnates.com. According to the SFC, Guosen processed over 10,000 third party deposits, for approximately 3,500 clients, between November 2014 and December 2015. Guosen has also, the SFC said, implemented new compliance procedures to ensure it doesn’t break AML rules in the future.According to the SFC, 2,200 of those third party deposits, totalling around 2.3 billion Hong Kong dollars ($293 million), were suspect. Source: financemagnates.com

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