The Commonwealth Bank will allow its customers to buy and sell cryptocurrency through its app, in the first move of its kind by a major Australian bank.

Australias largest bank announced on Wednesday it had partnered with US-based crypto exchange Gemini and blockchain analysis firm Chainalysis to offer the service to its 6.5m CommBank app users.

Customers will be able to buy up to 10 crypto assets including bitcoin, Ethereum and Litecoin.

The bank will conduct a pilot in the next few weeks, ahead of a wider launch in 2022.

We believe we can play an important role in crypto to address whats clearly a growing customer need and provide capability, security and confidence in a crypto trading platform, CBAs chief executive Matt Comyn said in a statement.

The bank said research on its customers found many had either expressed interest in crypto assets, or were already trading crypto through exchanges.

Customers have expressed concern regarding some of the crypto services in the market today, including the friction of using third party exchanges, the risk of fraud, and the lack of trust in some new providers. This is why we see this as an opportunity to bring a trusted and secure experience for our customers, Comyn said.

Dr Dimitrios Salampasis, a lecturer of fintech leadership and entrepreneurship at Swinburne Business School, said he was not surprised CBA had entered the cryptocurrency field.

He said the bank was trying to get first mover advantage in Australia, and hoped it would bring more legitimacy to the cryptocurrency space.

Having this coming from a systemic and the biggest bank in Australia, its definitely a move that will change a lot, he said.

And it will hopefully bring legitimacy, bring further harmonisation, push further regulation and also minimise debanking, which has been a massive pain for all cryptocurrency startups in particular.

Debanking is where financial institutions refuse to offer services to businesses in Australia.

A Senate select committee report on fintech services in Australia, tabled this month, cited several cryto businesses that had been rejected by dozens of financial institutions in Australia, such as the exchange Bitcoin Babe.

The committee, chaired by Liberal senator Andrew Bragg, recommended the government regulate the sector to allow it to fully operate in Australia, including a market licensing regime for digital currency exchanges, and for the government to develop a clear process for businesses to deal with debanking.

Salampasis said the committees report, along with CBAs gradual move into the sector, would likely foster regulation of cryptocurrency in Australia.

There has to be regulation, there has to be provisions, especially in relation to custody, especially in relation to licensing, he said.

I do believe that Australia has a once-in-a-lifetime opportunity to become a leader in the space and really drive a complete regulatory framework around cryptocurrencies.

Bragg welcomed the announcement from CBA.

For too long, banks have cast aside cryptocurrency as an illegitimate fringe pursuit. I am pleased the tide is turning, as digital assets are mainstreamed, he said.

Now banks are adopting cryptocurrency, they should stop debanking hardworking Australians.

CBA told the committee that it does not have a policy around debanking due to competitive or market factors but when making a decision on lending to new customers, we take a range of risk considerations into account including the terms and conditions of any loan documentation and possible security provisions provided.

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Commonwealth Bank to offer cryptocurrency trading in first for Australias big four - The Guardian Australia

PHILADELPHIA, PA / ACCESSWIRE / November 4, 2021 / Pennexx Foods (OTC PINK:PNNX) in its long-standing commitment to bringing cryptocurrency solutions to consumers, merchants and enterprises, Pennexx has launched features to reward consumers in Bitcoin (BTC) each time an offer is redeemed.

Entering the cryptocurrency market creates immediate value for the company. Consumers can now receive Bitcoin (BTC) for utilizing the companies offers, discounts, rewards and coupons by shopping online and instore.

Rewarding customers in cryptocurrency creates a tremendous and exciting opportunity to use the currency in a unique and powerful way. The way is works in the merchant signs up for the YourSocialOffers.com (YSO) platform and selects rewarding customers through cryptocurrency. Each time the merchant redeems one of these offers the consumer receives cryptocurrency to their digital wallet. This reward is as good or even better than cash as cryptocurrency value has been increasing.

The company plans to release a number of cryptocurrency products and intends to be releasing more news in this arena over the next 30 days. Vincent Risalvato, CEO of Pennexx said, "I am extremely excited to open door to the cryptocurrency world. We believe that cryptocurrency, savings and rewards are a perfect fit. We will be innovating in this area to bring terrific value to consumers, merchants and enterprises."

This is the company's first product in the cryptocurrency market which according to CNBC https://www.cnbc.com/2021/04/06/cryptocurrency-market-cap-tops-2-trillion-for-the-first-time.html topped $2 trillion dollars.

This is the first step for the company to becoming a source for cryptocurrency technology.

As far as the company knows, there is no other discounts or rewards site which currently offers cryptocurrency as a reward to consumers through coupons the in the manner that YSO does.

This puts the company in a unique position. It also puts its consumers and clients in a unique position to offer a new, exciting compelling product.

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For More Information

Pennexx will do its best to openly and publicly answer your questions and concerns via social media on Twitter https://twitter.com/pennexx @pennexx, or you may email info@pennexx.net.

About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly-owned subsidiaries, is a holding company within the Software/Internet Industry that focuses on social media, prepaid debit cards, cryptocurrency, artificial intelligence, targeted marketing, and consumer rewards.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made according to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

For additional information, visit our website at http://www.Pennexx.net or call 866-928-6409. We are also on Twitter @Pennexx.

SOURCE: Pennexx Foods, Inc.

View source version on accesswire.com: https://www.accesswire.com/671216/Pennexxs-Your-Social-Offers-Platform-Enters-the-Trillion-dollar-Cryptocurrency-Industry-by-Offering-Rewards-to-Consumers-in-the-Form-of-Bitcoin-BTC

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Pennexx's Your Social Offers Platform Enters the Trillion-dollar Cryptocurrency Industry by Offering Rewards to Consumers in the Form of Bitcoin (BTC)...

TUNJA, Colombia Nov 4 (Reuters) - A Colombian exporter of long-horned beetles, a popular pet for Japanese children, has created its own cryptocurrency to avoid high commissions on international sales.

"It's an alternative to be able to export the beetles to Japan or any other part of the world and be able to use it as a method of payment," said Carmelo Campos, chief programmer of Tierra Viva, based in the central Andean city of Tunja.

The company exports Hercules, Neptunus and elephant beetle species which can fetch up to $300 a pair in Tokyo. The sales commission can reach as high as 10% of export value, motivating Tierra Viva to create the currency.

The Kmushicoin, named after the long-horned beetle Kabutomushi in Japanese, is accepted as payment by some 220 businesses in Tunja, including restaurants, clothing stores, cafes and hardware shops.

Tierra Viva uses a percentage of all its sales to buy back the coinage, Campos said.

A cashier of a restaurant shows a successfully completed Kmushicoin cryptocurrency transaction on a smartphone to a lunchtime customer, in Tunja, Colombia, October 8, 2021. REUTERS/Luisa Gonzalez

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Kmushicoin was worth 0.30 cents when it was created in 2019. It traded at $1.84 on Tuesday.

"Our objective is to be able to use it as a method of payment at the national level," Campos said, adding an electricity provider has asked whether its customers could pay their bill with Kmushicoin.

The beetles, which can grow to the size of an adult's hand and live up to 17 months, are fed vegetable and fruit scraps as larvae, producing a fertilizer which Tierra Viva also sells.

The beetles have long been favored as pets for Japanese children, as well as good luck amulets.

"In total, including all the stages of metamorphosis, we can have more than 50,000 beetles playing their part in our operations," said Tierra Viva founder German Viasus, as two beetles crawled up his shirt.

Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Richard Chang

Our Standards: The Thomson Reuters Trust Principles.

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Colombian beetles exported to Japan with help from cryptocurrency - Reuters

Thursday, November 4, 2021

A Connecticut federal jury just answered one of the biggest questions on the minds of cryptocurrency investors, developers, and regulators are cryptocurrencies securities? The jury concluded that Paycoin and several cryptocurrency mining-related assets are not securities.

This is an important verdict because it is the first time a federal jury has considered whether a cryptocurrency is a security, as the SEC has posited. Significantly, the verdict follows parallel SEC and DOJ actions that reached the opposite conclusion with respect to the same digital assets. The DOJ had successfully prosecuted Homero Joshua Garza (Garza), the founder of Paycoin and the crypto currency mining operation at issue, under the theory that the products offeredweresecurities. Garza plead guilty in 2017 and was sentenced to 21 months in prison and ordered to pay $9,182,000 in restitution.

It is not surprising that a jury arrived at the opposite conclusion given years of confusion among laypersons, investors and regulators concerning how to classify and regulate cryptocurrencies. For example, as recent as August 2021,SEC Chair Gary Gensler remarkedthat cryptocurrency was the Wild West and that many tokens are offered and sold assecurities. But at the same time, the Commodities Futures Trading Commission (CFTC) (Genslers former employer)issued guidanceindicating that cryptocurrencies like Bitcoin and Ether arecommoditiessubject to the jurisdiction of the CFTC. Adding to the mix, last month DOJannouncedthe creation of a National Cryptocurrency Enforcement Team (NCET) to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency. While Mondays jury verdict is significant, it is far from a conclusive referendum on the issue, and potentially more of a product of the specific facts and cryptocurrency at issue.

The Connecticut case involved a civil securities class action against Stuart Fraser, who was a business partner and mentor of Garzas, and two cryptocurrency mining entities founded by Garza (GAW Miners, LLC and ZenMiner, LLC). The Complaint alleged that the defendants employed an evolving scheme to defraud investors, originating with the sale of interests in defendants cryptocurrency mining companies and culminating with the issuance of Paycoin.

Defendants first sold investors Hashlets, which represented an interest in the computing power of defendants cryptocurrency mining operation. This promised investors a return based on defendants cryptocurrency mining powers and without having to operate sophisticated cryptocurrency mining computers. Investors were supposedly able to control how their Hashlets (or computing power) were deployed to mine cryptocurrency. However, the Complaint alleged that the investment operated much like a classic Ponzi scheme because the amount of Hashlets sold to investors far exceeded the companies actual mining power and investor crypto returns were paid with newer investors funds. The scheme evolved with the issuance of a cryptocurrency token, Paycoin, which was held in specific cryptocurrency wallets, Hashstakers, all of which defendants allegedly misrepresented as a stable and viable cryptocurrency token project.

After an eight-day jury trial, the question of whether the products at issue were investment contracts, and therefore securities, was submitted to the jury. To answer this question, the judges instructions to the jury incorporated the well-known Howeytest, which was derived from the U.S. Supreme Courts decision inSEC v. W.J. Howey Co., 328 U.S. 293 (1946). The judge directed the jurors to determine whether plaintiffs had proven that the products at issue constituted an: (1) investment of money, (2) in a common enterprise, and (3) with profits to be derived solely from the efforts of others. The jury instructions further elaborated that [i]f there was a reasonable expectation of significant investor control, then profits would not be considered derived solely from the efforts of others, and the jury would have to find for defendants. After deliberation, the jury concluded that none of the products at issue Hashlets, Hashpoints, Hashstakers, or Paycoin constituted an investment contract or a security. The jurys conclusion also handed Fraser a complete defense verdict.

While the jurys verdict might provide an interesting glimpse into public sentiment and understanding of cryptocurrency, it is far from the last word on how cryptocurrencies will be defined as an asset class, if at all. The verdict also stands in stark contrast to the intensifying wave of state and federal regulatory activity concerning cryptocurrencies.

1994-2021 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. All Rights Reserved.National Law Review, Volume XI, Number 308

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Second Circ. Court: Paycoin & Mining-Related Assets Are Not Securities - The National Law Review

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / November 4, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that the Company is progressing its plan to venture into a crypto-mining project in Malaysia after the signing of Private Public Partnership Agreement in August 2021 for the development of digital asset platform in BIMP-EAGA.

GreenPro is in the process of discussion with Malaysia relevant authorities to setup cryptocurrency-mining machines based in one of the special economy zone which encouraging Green, digital and solar-based business.

Parallel to the rapid growth of the cryptocurrency industry is the rapid growth of cryptocurrency regulation, the STO (Securities Token Offering) will help GreenPro in providing alternative digital finance to different incubated projects.

(https://www.youtube.com/watch?v=Lcc3-rAV8B8)

Greenpro CEO, Dr. Lee said "STO is considered to be a very efficient method of financing in Digital Economy Transformation. Traditional fundraising methods are becoming increasingly complex to access, and many businesses have started to look at blockchain technology for raising funds. As a result, security tokens have become a possible investment vehicle that allows businesses to reverse the financial pyramid and democratize the capital markets. STO platform can greatly help GreenPro to provide a stable and reliable exit from its incubated projects."

About Greenpro Capital Corp.

Headquartered in Kuala Lumpur, Greenpro Capital Corp. (NASDAQ:GRNQ), a Nevada corporation, with strategic offices across Asia, is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.

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Forward-Looking Statements

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

CONTACT:

Gilbert Loke, CFO, DirectorGreenpro Capital Corp.Email: ir.hk@greenprocapital.comPhone: +852-3111 7718

SOURCE: Greenpro Capital Corp.

View source version on accesswire.com: https://www.accesswire.com/671153/Greenpro-Incubated-Cryptocurrency-Mining-Project-to-Empower-the-STO-Business-in-BIMP-EAGA-Regions

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Greenpro Incubated Cryptocurrency-Mining Project to Empower the STO Business in BIMP-EAGA Regions - Yahoo Finance

Toronto, Ontario--(Newsfile Corp. - November 3, 2021) - Biconomy is one of the biggest Canadian cryptocurrency exchanges already online. Founded in 2019, the company has offices in Canada, the United Kingdom, Russia, Brazil, South Korea, and Japan.

Canadian Cryptocurrency Exchange Biconomy, together with partner fund LT Capital, launches a fund for $100M

It is a leading exchange that provides professional and secure trading experiences to 500k+ registered users and 200k+ active community members around the world through its products and services designed specifically for cryptocurrencies.

Biconomy is very actively developing its ecosystem. Most recently, it released a launchpad for GameFi, NFT, and DeFi projects. This is a full-fledged launchpad with a wide range of services for projects and their successful entry into the cryptocurrency market.

With the new launchpad, Biconomy and LT Capital jointly established the "Biconomy Ecosystem Foundation'' with a total amount of US $100 million. This capital mainly provides funding and joint ecosystem development support for global GameFi, Defi, and NFT development teams.

The mission of the Bionomy exchange is to create a bridge between the real economy and the crypto economy and make cryptocurrencies more accessible to people.The GameFi sector is a real breakthrough this year, which also connects the gaming industry with cryptocurrencies and enables players around the world to make money just by playing games.Biconomy sees a great prospect and intends to develop the Play2Earn sector especially purposefully.

Gaming projects have several features. Firstly, they are complete newcomers to the crypto market, so the expertise and help of the exchange when entering it is very important.

Also, very often game developers are looking for funding and sponsors to develop their games.

As a result, the Biconomy exchange solves all the problems of GameFi projects - from financing, preparing a project for the crypto market, to successfully entering public trading and partnership and cooperation after listing.

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The funds from Ecosystem Foundation will be used to extend the ecosystem of the Bionomy exchange - the development of partner and launchpad projects and investments in it. The exchange already has 6 offices around the world, more than 20 language chats, and intends to develop even more in further regions with developed crypto-economics.

And since Bionomy also has a GameFi launchpad, and also carries out listings of promising projects, the Biconomy Ecosystems Foundation will invest in the most promising of them, thereby strengthening its position in the cryptocurrency market and among cryptocurrency exchanges.

Another direction of financing is investing in IDO projects on the Solana-based DEX aballo exchange, in the creation of which Bionomy acted as a technical partner.

This is a one-of-a-kind DEX on Solana that supports the Deflationary Token Model. The first token that was listed on the Caballo exchange is the native token of the Biconomy Exchange - BIT. Caballo and Biconomy will jointly conduct an IDO on the Caballo platform, providing investments for promising projects.

Biconomy CEO Dmitriy Sheludko commented:

"This is a very large and significant event in the life of our exchange. By forming the Biconomy Ecosystem Foundation, we will be able to develop at an even higher pace and develop many product areas-both related to direct exchange services and indirectly affecting the exchange and its development, but necessarily strengthening its ecosystem.

We invite the best projects to apply for our launchpad, and grow together with the Bionomy exchange. For the passionate teams that joined the Biconomy ecosystem, they were empowered not only by funds and technology. Just look at the BIT community and you will know what a great thing we are doing with people in the community! We look forward to the excellent teams that will join this historic change."

Join Biconomy Exchange Social Networks:

https://t.me/Biconomy_Global

Tweets by Biconomy_Global

https://www.facebook.com/BiconomyGlobal

https://www.youtube.com/channel/UCUr7xvFfBy8zQR0EB_cbjBQ

Website: https://biconomy.com/

Contact: dsh@biconomy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101889

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Canadian Cryptocurrency Exchange Biconomy, Together with Partner Fund LT Capital, Launches a Fund for $100M - Yahoo Finance

Threat actors are promoting phoney cryptocurrency wallets and DEX platforms on Google Search in order to steal users' cryptocurrency.

Scammers have utilised the new form of phishing effort that didn't use emails to steal about $500,000 in cryptocurrencies from wallets.

According to Check Point Research, the criminals bought Google Ads placements for their fake wallet websites, such as Phantom App and MetaMask.

Also read | Islamic organisation in Indonesia declares fatwa against cryptocurrency; says it is against Sharia law

The malicious websites have URLs that are similar to the genuine service's, such as "phantonn.app" (the real service's URL is "phantom.app"), and designs that are likewise similar to the real thing.

Watch | Will China to dominate cryptocurrency market?

If the victim visits the false page and types in their password, the fraudsters will grab it.

The attacker's secret recovery phrase will be disclosed to the victim if they utilise the fraudulent website to establish a new wallet.

If they log in with the recovery phrase, they'll be logging into the account of the bad actor, and any funds moved to it will go to the fraudster.

The bogus website for MetaMask, in example, offers the option of importing an existing wallet.

Because this necessitates the use of a seed phrase, the fraudsters will have access to it as well.

Researchers at CheckPoint saw a surge in relevant scamming reports over the past weekend, with numerous ads tricking victims into visiting various typosquatted domains.

CheckPoint determined that the criminals used the same account to establish several wallets, each relating to a different victim, and received significant sums every few hours.

(With inputs from agencies)

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Cyber criminals used Google ads to steal $500,000 worth of cryptocurrency - WION

Some of us just want to buy and enjoy the games we play, while publishers are now looking at how to leverage NFTs and "play-to-earn" cryptocurrency games in the future.

As Eurogamer reports, EA CEO Andrew Wilson stated in an earnings call this week that both NFTs and play-to-earn games are an "important part about the future of our industry." However, he also admitted they aren't going to appear in any EA-published games anytime soon because "it's still early to figure out how that's going to work."

The play-to-earn model rewards players with cryptocurrency and works with blockchain technology in some form. Non-fungible tokens (NFT) on the other hand, are digital certificates for intellectual property, which could be utilized for many aspects of a game. For example, creating content for a specific title could result in an NFT being created.

For now, EA is acknowledging this very new technology is going to be important, but nobody really knows how to utilize it effectively in games just yet. Deploying it in a new Battlefield, FIFA, or The Sims game isn't likely to happen because it could easily backfire and hurt sales. There's also the question of regulation, or the lack of it around cryptocurrencies at the moment, which could turn into a minefield for EA. A few days ago it was reported that Ubisoft is also looking at NFTs and blockchain, so this is certainly being taken seriously by the big games publishers.

EA also published its Q2 financial results yesterday, with Wilson stating, "This was the strongest second quarter in the history of Electronic Arts, with more players around the world joining and engaging in our leading franchises, new launches and live services." He's also expecting the company to enjoy strong sales over the holiday season, driven by Battlefield 2042, which launches on Nov. 19.

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EA Is Looking at NFTs and 'Play-to-Earn' Cryptocurrency Games - PCMag