Cryptocurrency Trading to be blocked in Denmark

Danske Bank, one of the biggest banks located in Copenhagen, has warned his customers against purchasing the cryptocurrencies
30 March 2018   1341

This bank has got departments in Trondheim (Norway) and Vilnius (Lithuania). According to the announcement on its website, the company does not presently allow any cryptocurrency transaction. Cryptocurrencies are not held by a central bank, so the bank declares about the lack of the investor and consumer defence commonly connected with with traditional investments and currencies.

Also, cryptocurrencies have been strongly volatile and the price formation is non-transparent, as it was said in the message. All these points have formed a very limited position of the investors about the development of the market and what factors do control the price.

The bank accentuated the lack of the framework control and transparency as the most significant reasons for not investing in cryptocurrencies. These problems have made digital money a target money laundering and extortion.

Danske Bank requires that a financial establishment is obliged to assist in the struggle against the crimes. Today cryptocurrencies do not correspond to the optimal level of transparency for the bank to fulfil anti-money laundering (AML) obligations.

Though, as it was said in the notice, the bank might be able to change his decision relatively to cryptocurrency, if the trading market becomes more developed and
limpid.

The cryptocurrency surrounding environment is also will not been supported by the bank. It has refused from the opportunity of buying financial instruments that could influence on the price of cryptocurrencies. Such instruments may also include the exchange trade notes which reflect the price of the cryptocurrency. The exchange trade notes are characterised by volatility and strong risk.

Danske Bank does not forbid using of its bank-issued credit cards connected with cryptocurrency trading. But the customers are recommended to adhere to the current anti-corruption procedures and AML rules.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   130

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.