Mexico approved bill to regulate fintech sector

Mexico could be among the first countries to regulate cryptocurrency and ICO
06 December 2017   1449

Mexico’s Senate on Tuesday approved a bill that would regulate financial technology sector, including ICOs and cryptocurrency firms, setting the stage for a vote by the lower house and it is expected to pass in a final vote by December 15.

The bill aims to set out clear rules and reduce costs to users. That should drive competition in a sector that includes crowd-funders and payment firms.

The central bank will be tasked to propose measures to regulate firms operating with cryptocurrencies. Financial services firms see potential growth in the second largest Latin America’s economy by reaching the more than 50 percent of Mexico’s roughly 120 million citizens without bank accounts.

Now, Mexico is facing the growing demand for bitcoin.

Mexico's volumeWeekly LocalBitcoins Volume (Mexican Peso)

That bill, if enacted, would allow Mexico to join a list of countries, including the United States and Britain, that have sought to regulate fintech firms.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1008

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.