Bitcoin Trading is ‘Illegal in Saudi Arabia’ 3855

A standing committee comprised of various governmental ministries and the central bank of Saudi Arabia has warned that trading of ‘unauthorized’ cryptocurrencies like bitcoin is illegal in the country.

In a statement published by the Saudi Arabian Monetary Authority (SAMA) – the sovereign Arab state’s deface central bank – on Sunday, a governmental committee declared it was against trading of cryptocurrencies. The reasons, it claimed, were due to “their negative consequences and high risk on traders” since they are beyond the purview of governmental supervision.

Formed by a supreme decree, the standing committee was devised as a watchdog to specifically look into ‘unauthorized securities activities in the foreign exchange market’. It includes Saudi Arabia’s Capital Market Authority (CMA), the Interior, Media, Commerce & Investment ministries as well as the SAMA. Pointedly, the supreme decree has tasked the committee to inform relevant authorities by reporting any trading or investments in forex and cryptocurrency trading as well as reducing their marketing activities to keep them from investors.

The committee assured that virtual currency including, for example but not limited to, the Bitcoins are illegal in the kingdom and no parties or individuals are licensed for such practices.

Without indicating any penalties or fines for cryptocurrency trading, the committee insisted on warning “all citizens and residents” against what is deemed an ‘illegal’ activity.

At the time of publishing, BitOasis – the Middle East and North Africa (MENA)’s first bitcoin exchange – continues to list Saudi Arabia among its supported countries following its initial launch nearly two years ago. The exchange operator notably suspended fiat withdrawals citing an ‘issue’ with its banking partner in May. The exchange has changed tact ever since and has today announced the resumption of international fiat withdrawals.

A representative for BitOasis did not return a request for comment at press time.

Curiously, the SAMA is working on its own custom cryptocurrency for blockchain-powered cross-border transactions with the UAE’s central bank. Saudi Arabia’s central bank is also using Ripple’s blockchain software xCurrent – which doesn’t use XRP – to plug regional banks on RippleNet, an enterprise blockchain network for instant payments.

Previous ArticleNext Article

Popular BTM Operator: Bitcoin of America Welcomes Shiba Inu Coin to Its Bitcoin ATMs 7476

Bitcoin of America has officially announced the newest addition to their Bitcoin ATMs (BTMs). Shiba Inu coin is now available at Bitcoin of America ATM locations. Bitcoin of America has more than 1800 BTMs across 31 states. They recognized the growing popularity of Shiba Inu and decided it was time to include it in their BTMs. Bitcoin of America also offers Bitcoin, Litecoin, and Ethereum options. This news comes after their recent addition of Dogecoin in March of this year.

Bitcoin of America is a popular virtual currency exchange registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). They are known for their top-of-the-line customer support while also providing a fast and hassle-free transaction.

Bitcoin of America makes it easy for everyday businesses to get their hands on a Bitcoin ATM and for customers to buy Bitcoin. They take care of their host locations by providing passive income, increased foot traffic, and marketing. They even handle customer support and any maintenance/installation services.

The popular operator has made many updates to its BTMs and services over the past year. They launched their universal kiosks, which operate as a traditional ATM combined with BTM functions. Bitcoin of America has created a point-of-sale system for their tablet program, which has allowed businesses to accept cryptocurrency as a new form of payment. Bitcoin of America is constantly expanding and improving its services.

Data Mynt Payment Processing Platform Now Supports Bitcoin Payments 7349

Data Mynt, a leading provider of simple, stable cryptocurrency payment products, now enables payments over the Bitcoin network, which already supports roughly 225,000 transactions per day and $30 billion USD dollar equivalent volume per day worldwide (as of publishing).

Data Mynt merchants and partners join the 15,000 retailers that accept Bitcoin today, making it the world’s most widely used digital asset for payments. Retailers include Twitter, Whole Foods and Overstock.com.

Now the Data Mynt payment processing platform enables payments from any wallet and asset across the $2 trillion combined market cap (as of publishing) available to make a payment over the Bitcoin, Ethereum Mainnet and Polygon networks.

The Data Mynt payment processing solution enables merchants and enterprises to expand their payment options for their customers and partners. At the same time, it reduces payment processing costs and eliminates frictions such as chargebacks and crypto price volatility.

“As a payment processor, it only makes sense for us to enable our merchants and partners to accept what the world already accepts—the biggest cryptocurrency,” noted Data Mynt CEO Alex Christian. “Almost one-quarter of the US population owns Bitcoin. Many other countries such as Brazil, Indonesia, UAE, Singapore, Israel, India, Mexico, and South Africa have even higher adoption rates. Data Mynt merchants can feel good knowing they offer these Bitcoin owners another payment option.”

The dedicated Data Mynt global sales team began rolling out its payment platform in Q1 of 2022.

About Data Mynt

Data Mynt is a leading crypto payment processor. Its wallet, asset and blockchain-agnostic suite of solutions offer partners and merchants an omnichannel approach to accepting on-chain crypto payments free from volatility and the risks and costs of traditional payment methods. The Data Mynt payment platform is also designed to streamline implementation delivering a seamless customer experience. DataMynt.com

Popular BTM Operator Bitcoin of America Wins Silver in 11th Annual Best in Biz Awards 9570

Bitcoin of America has been named a silver winner in the Company of the Year – Midwest category in Best in Biz Awards, the only independent business awards program judged each year by prominent editors and reporters from top-tier publications in North America. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Apart from ensuring a fast and hassle-free transaction, their customer support makes them the best in the industry.

Bitcoin of America has demonstrated rapid growth. In June of this year, Bitcoin of America’s Chief Financial Officer reported record company growth. In January, the company had a total of 630 Bitcoin ATMs. To date, they have seen a 138.095% increase in their number of locations. They even hit a major achievement of 1500 plus BTMs. Bitcoin of America has also seen enormous growth in their number of employees. In just one year their team grew over 32 percent.

Bitcoin of America also added new products, services, and even updates to their BTMS. In May, they announced the launch of their new universal kiosk. The kiosk combines the capabilities of a traditional ATM with a Bitcoin ATM. The universal kiosk is known to offer 3 different functions. The first is the traditional ATM feature where customers can dispense cash from a debit card. The second function is being able to buy bitcoin or other cryptocurrencies with cash. The last is that customers can sell crypto in return for cash. This is huge for business owners. These universal kiosks are bringing stores additional revenue streams, while also saving floor space. They also announced that Ethereum would be available for customers to purchase from any of their locations.

Besides offering cryptocurrency services to customers, Bitcoin of America has helped hundreds of businesses across the United States. Bitcoin of America offers a host program for store owners who are interested in cryptocurrency or are just looking to earn extra income. They take care of their host locations by providing them with passive income, increased foot traffic, and marketing. They even handle customer support and any maintenance/installation services.

Submit Your News to 40 Crypto-related Websites 4233

Coin PR Kit

Coin PR Kit will publish your press release, news, guest post, article, interview, review on up to 40 Crypto and Bitcoin related websites, selected by you prior to publication. Your news will remain available in websites database as long as you wish. Let us describe the way we work. We are ready to offer you surprising options for cooperation!

We deal with 40 Crypto and Bitcoin related websites worldwide and we have possibility to publish on those websites the news, press releases, guest post, articles, interviews, reviews and etc. After receiving the text from you, we publish it within 2-8 hours, and then we send you the links to all publications (see an example of report).

Simple & Clean Work Process

The process of ordering and publishing of text on selected websites is very simple and consists of the several steps:

1. Go to our Store
2. Select websites to publish
3. Add websites to Cart
4. Attach an article on the Checkout page
5. Pay and receive invoice
6. Websites promote it in 2 – 8 hours
7. We will send you links after publications

Our Store

All 40 Crypto and Bitcoin related websites are available in our store, see the list of websites at the following link. You can choose any website at the very moment of purchasing of publication. Our standard price is €25 per one website, but when you select more than 10 websites the discount system will be activated automatically in the store.

The price for one publication may be €20 if you add at least 10 websites to your cart. When you add 20 websites to your cart, the publication on one website will cost €15. And if you add 30 or 40+ websites you will get the price of €10 for each.

What if you need a lot of publications and you want to do it during several months?

Then we are ready to give you even more discounts! If you add to your cart at least 100 websites (each website can be added many times), you will get the price of €8 per one publication. This option is designed especially for big advertising companies of for dealing with advertising agencies.

We have no time limits for publications. You can make a stock purchase in advance and add 100 or more websites to your cart at one time to get a price of €8 and then publish articles when the time is right. You can send us different texts for different time of publications or for different websites. The length of the text should not exceed 8000 words. Show up on the homepage and NO advertising labels. In the text you can use 5 links (dofollow or nofollow), 5 images and 2 videos from YouTube.

All your purchases in our store will be accumulated and when the total amount of your purchases gets up to €2000 you automatically receive your personal coupon for one discount of 10%. Thus the price for one website will be much more reduced. For example, you add to the cart 100 websites, the total price for publication is €800 (discount: €8 per website), then you use your 10% discount coupon and the total price becomes €720 (€7.20 per website).

But that is not all yet! If the total amount of all your purchases in our store exceeds €4000, you automatically receive the VIP status (lifetime) and get an additional lifetime 20% discount on any purchase in our store. For example, you add 100 websites to your cart, the cost of posting is €800 (discount: €8 per website), but since you are the VIP status, you automatically get additional a 20% discount and the total cost of your order becomes €640 (€6.40 per website).

At the same time, if you would like to sum up all your purchases you should register your account in our store in order to keep your buying story. The process of registration takes less than a minute – you just need to put your email and password. Please register at the following link. Your buying records will be available in your account as well as the invoice for each purchase. Also your invoice will be sent to your email automatically after payment.

Payment and Publication

After adding the websites to your cart you will be forwarding to Checkout page. At the Checkout page you can choose the way of payment. We accept for payment: BTC, ETH, LTC, XRP, TRX, USDC, USDT (ERC-20 and TRC-20). Choose a cryptocurrency for payment, push the confirmation button and you will see the total sum of payment in the browser (it will be also sent to your email) and the address of wallet for transaction.

At this moment the status of your order will be “Hold”. After transaction of cryptocurrency to our wallet it takes 12 confirmations. After 12 confirmations your order status will be updated to “Completed”. Then you will receive an email confirming that we start working with your order. We need 2-8 hours to fulfil it. If your order comes at night (Helsinki UTC +2), we shall start work at 9 am. Please be attentive at planning.

80 Crypto and Bitcoin Related Websites

At present there are 40 Crypto websites worldwide cooperating with us. We are growing and enlarging our partnership network of publishers. Today we negotiate with 10 more crypto websites and we hope they will join our store within the nearest months. Then the total quantity of our partners will be 50. We are planning to conclude contracts with at least 100 crypto websites worldwide in half a year.

We choose our publishers very carefully and work only with well-established websites. Therefore, we offer a selection of websites in our store. You choose the websites for your publication yourself. Our cooperation with you will always be transparent and every time you will receive a report with a link to the publication of the text on the website chosen by you.

ZIM & Marius Nacht complete additional investment in WAVE BL, a leading provider of a paperless Bill of Lading solution 27486

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and Marius Nacht, one of Israel’s leading serial entrepreneurs and investors, announced today that they have jointly invested in a Series B Financing round of WAVE BL, a developer of groundbreaking blockchain network supporting paperless trade in the shipping industry. The two investors co-lead a round of approximately $8 million that will accelerate global implementation of WAVE BL’s proven technology.

ZIM pioneered the first paperless electronic bill of lading pilot in the shipping industry in 2017 using WAVE BL’s platform and has since widely expanded its use to become the industry leader. Electronic bill of lading is currently offered to ZIM customers worldwide, requiring only a simple onboarding process which is supported by ZIM.

Digitization of bills of lading is revolutionizing shipping documentation, sharply reducing time, complexity, errors and costs for all parties involved, while maintaining a high level of security and, importantly, being far more sustainable than the traditional paper bill of lading.

Aligning with international rules, standards and insurance coverage such as IG P&I Clubs and eUCP 600, WAVE BL’s one of a kind decentralized, digital documentation solution is changing the shipping industry as it becomes the new industry benchmark enabling secure and efficient remote business continuity.

Proceeds will be used to support development of WAVE BL’s business and further implementation of its pioneering technology supporting paperless trade in the shipping industry, as well as in other sectors.

ZIM President and CEO Eli Glickman: “Our early adoption of WAVE BL’s blockchain based platform to promote paperless trade highlights our leadership in utilizing digital strategies to best serve customers and has proven extremely successful for ZIM and for changing the industry. Today, ZIM is an industry leader in paperless shipping processes, and we are seeing growing interest from others in our sector to adopt the platform reflecting the significant benefits it provides to both customers and carriers. This new investment in WAVE BL is a step forward in the path to a more digitized and sustainable future, in accordance with our vision and values.”

ZIM CIO Eyal Ben-Amram: “Since completing the integration of WAVE BL’s platform with our system, we can offer every customer the ability to enjoy the vast benefits of paperless shipping, which is especially crucial during COVID-19. We are pleased and proud to continue our support of this exciting and leading company.”

WAVE BL CEO Gadi Ruschin: “Our partnership with ZIM has enabled us to introduce our pioneering technology to a vast audience as we endeavor to become the shipping industry standard in paperless trade. We are extremely pleased with the continued faith and commitment of ZIM and Marius Nacht in our company and look forward to leading the wave of the future in shipping.”

Ophir Shoham, who leads Marius Nacht’s investments in high-tech: “We are proud to continue supporting WAVE BL’s remarkable technology and believe in its disruptive potential, leading to a fundamental change in the way business is conducted across countless sectors and industries. We are very impressed with the great progress the team has made and excited to invest in WAVE BL’s trail-blazing platform.”

Integrated Ventures Partners With Wattum To Purchase 4,800 Antminer S19JPro Miners From Bitmain Technologies Limited 27870

Integrated Ventures Inc, (OTCQB: INTV) (“Company”) is pleased to confirm that the Company has partnered with Wattum Management and entered into a 12 Month Sales and Purchase Agreement (“PO-1”) with Bitmain Technologies Limited (“Bitmain”) to acquire 4,800 Antminer model S19J (100 Th) digital currency miners. Bitmain is scheduled to manufacture and ship miners on monthly basis, in 12 equal batches of 400 units, starting on August 2021 and thru July 2022. Partners agreed to purchase 4,800 units, on 50/50 basis, and to pay Bitmain, approximately $34,047,600 (“Total Purchase Price” or “TPP”) (*).

As a part of signed agreement, Integrated Ventures has received: (1) downside price protection for 12 months and (2) right to replace S19JPro miners with new models, scheduled to be released in early 2022.

The TPP is payable as follows: (i) 25% of the TPP, upon the execution of the Sales Purchase Agreement or no later then April 19, 2021; (ii) 35% of the TPP, is due by May 30, 2021; and (iii) the remaining 40%, is due on monthly basis, starting on June 2021. In addition to Bitmain order, the Company has purchased 150 WhatMiners, (“PO-2”), valued at $1,078,000. These miners will be installed in container facility, connected to a major power plant, located in Kennerdell, PA and managed by Wattum.

Details on both purchase orders are below:

PO-1/Bitmain Order:

  • Antminer S19JPro – 100TH
  • Shipping Schedule: August, 2021 – June, 2022
  • Total Qty: 4,800
  • Total Purchase Price: $34,047,600

PO-2/WhatsMiner Order:

  • WhatsMiner M31S – 82TH
  • Shipping Schedule: May 15, 2021
  • Total Qty: 150 units
  • Total Purchase Price: $1,078,000

Steve Rubakh, CEO of Integrated Ventures, Inc., provides the following commentary: “The Company is very pleased to secure this large scale purchase agreement, especially during a period of scarce supply of mining hardware. Going forward, INTV is committed to deploy any raised capital for purchases of the mining equipment. This purchase effectively doubles INTV’s hash rate and represents a major step in INTV’s strategic growth plan, resulting in significant increase of the Company’s projected revenue growth rate.

Below is detailed shipping schedule for all in-coming mining equipment for the rest of 2021:

  • 300 Avalons/model 1166Pro/assorted 75TH-82TH – April delivery
  • 150 WhatsMiners/model M31S/82TH – May delivery
  • 200 Antminers/model S19JPro/100TH – August delivery
  • 250 Avalons/model 1166Pro/75TH-82TH – August delivery
  • 200 Antminers/model S19JPro/100TH – September delivery
  • 200 Antminers/model S19JPro/100TH – October delivery
  • 200 Antminers/model S19JPro/100TH – November delivery
  • 200 Antminers/model S19JPro/100TH – December delivery.

By the end of December 2021, at minimum, the Company will own and operate over 2,000 miners. Based on BTC pricing of $60,000, the projected and unaudited mining revenues for next 12 months, once all units are connected are expected to be in range of $19,000,000 and $21,000,000 million dollars.”

Arseniy Grusha, CEO of Wattum Management, Inc., adds the following: “We are pleased to partner with INTV and to be an integral part of 12 month Sales & Purchase Agreement with Bitmain Technologies Limited, to jointly acquire 4,800 units of S19JPro – one of the most efficient miners available on the market. Both companies are focused on expanding their mining and hosting operations, by launching multiple data centers and mobile mining farms. We are looking forward to a mutually beneficial and long term cooperation with goal of establishing Integrated Ventures and Wattum as leaders in rapidly growing North American cryptocurrency market.”

About Integrated Ventures Inc: The Company operates as Technology Holdings Company with focus on cryptocurrency sector. For more information, please visit company’s website at www.integratedventuresinc.com.

About Wattum Management, Inc: NY based and privately owned, leading technology corporation, focused on providing cost efficient and reliable hosting services, firmware design, distribution of mining equipment, complete facility management and mining pool operations.

About Bitman Technologies Limited: Founded in 2013, Bitmain transforms computing by building industry-defining technology in cryptocurrency, blockchain, and artificial intelligence (AI). Bitmain leads the industry in the production of integrated circuits for cryptocurrency mining, as well as mining hardware under the Antminer brand. The company also operates the largest cryptocurrency mining pools worldwide- Antpool.com and BTC.com. Bitmain technology supports a wide range of blockchain platforms and startups.