Kuwait Prohibits Bitcoin

The Central Bank of Kuwait does not allow financial institutions to trade bitcoin
19 December 2017   1697

On December 18 Kuwait’s Ministry of Finance said that it does not recognize bitcoin and forbids its trading in the Kuwaiti financial institutions.

According to the Arab Times, sources from the ministry explained that the Central Bank of Kuwait does not allow financial institutions, banks and affiliated companies to trade bitcoin in the wake of the recent surge in prices.

The sources added the encrypted electronic currency is not guaranteed by the banking system or the Central Bank and the Central Bank had earlier asked the Ministry of Commerce and Industry to take the necessary measures to inform customers of the risks of this currency.

On December 16 the Arab Times reported that Kuwaiti citizens are at the "forefront" of trading bitcoin following the recent price gains. Sources from the public prosecution office indicated that the Kuwaiti law cannot prohibited online trading as it falls under the laws for "e-programs."

Recently, we have reported that the Central Banks of Saudi Arabia and the UAE plan to use cryptocurrency in cross-border payments in the future.

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   129

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.