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MetaVault announces expansion into the Isle of Man

George Miller

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MetaVault announces expansion into the Isle of Man
MetaVault co-founder Justin Short
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MetaVault, a company offering secure storage of cryptocurrencies such as Bitcoin and Ethereum, has opened a new office in the Isle Of Man.

MetaVault is a digital asset custody provider, offering insured and uninsured safe custody of assets up to $100m. It means financial institutions such as banks and exchanges can store cryptocurrency with peace of mind with protection underwritten by A-rated London-based insurers.

With the office opening, MetaVault is responding to the growing demand for gaming, exchange and financial institutions to be able to accept and store digital assets securely.

MetaVault co-founder Justin Short said: “The decision to expand into the Isle of Man was a logical step in our business growth strategy. 

“The Isle of Man boasts gaming and financial services regulators proactively engaging with blockchain enterprises.

“Supporting player protection mechanisms, exchanges and financial institutions with secure, insured and uninsured digital asset custody provides confidence in the technology for regulators, businesses and consumers by removing significant risks from the ecosystem.”

Lee Hills, director of MetaVault, said: “The Isle of Man has been at the forefront of developments in blockchain technology and this expansion recognises that. MetaVault is ideally suited to mitigate risks and remove barriers between blockchain businesses and financial institutions. We are excited by this next chapter and look forward to long and mutually beneficial relationships with our Isle of Man partners.”

Lyle Wraxall, Chief Executive, Digital Isle of Man Executive Agency, said: “Blockchain Isle of Man is very pleased to welcome MetaVault to the Island. 

“The Isle of Man prides itself on its superior player protection regulation in e-Gaming and being a centre of excellence for finance, the services offered by MetaVault will assist in maintaining that high standard. It is fantastic to see that the Island is continuing to attract diverse technology-focussed businesses, and we look forward to MetaVault adding to our already rich digital ecosystem.”

 

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Cryptocurrency

FunFair launches pioneering wallet solution across partner brands

George Miller

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FunFair launches pioneering wallet solution across partner brands
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CasinoFair and CryptoCasino to benefit from ‘any device, any browser’ wallet and updated user interface

FunFair Technologies, the market-leading decentralised casino provider, has launched a pioneering new crypto wallet and updated user interface which now supports any browser and any device.

The new ERC20, non-custodial FunFair Wallet has been developed specifically to provide a seamless user experience for existing and new players gambling with FUN across its CasinoFair and Crypto Casino brands, marking a significant step forward in the name of blockchain mass adoption.

Blockchain projects have so far struggled with onboarding friction due to complicated funding mechanisms, security features which differ significantly to mainstream offerings and a lack of usability on mobile devices and certain browsers.

The FunFair Wallet addresses these issues with the introduction of more identifiable sign-up processes and security features, while most importantly ensuring the wallet can run on any browser and any device without the need for any third-party plug-ins or apps.

CasinoFair and Crypto Casino players will also engage with a far more immersive, social and Guaranteed Fair casino experience with an updated front-end, offering more intuitive access to their favourite casino games coupled with the most generous and varied promotions in blockchain casino.

Jez San, CEO at FunFair Technologies, said: “Since launch, we’ve maintained our position as the most progressive blockchain casino provider and the launch of the bespoke FunFair Wallet and second generation platform interface will confirm this position as we strive for mass adoption.

“Onboarding has been a struggle across the wider decentralised sector but our new wallet, built specifically for use at our partner casinos, will fix this immediately with a seamless, recognisable sign-up process, straightforward security features and simple crypto funding choices.”

FunFair’s first live casino brand, CasinoFair, has also relaunched its brand identity in-line with the new wallet and UI. It now features a more vibrant and progressive aesthetic which is expected to appeal to the millennial blockchain audience, while also staying true to its ‘Famous for Fairness’ foundations which underpin every aspect of its gaming experience.

 

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Asia

Iranian Government Proposes for New Cryptocurrency Mining Regulations

Niji Narayan

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Iranian Government Proposes for New Cryptocurrency Mining Regulations
Reading Time: < 1 minute

 

The Cabinet of Iran has proposed for new cryptocurrency mining regulations in Iran, which include annual licensing for cryptocurrency miners.

Based on the proposal, licensed and registered cryptocurrency miners will be required to submit information such as their list of business activities, the predicted value of their investments, current employment status, rental agreements for the space itself, value of their mining equipment and the duration of the mining project. The license will need to be renewed every year.

The Iranian mining industry has grown dramatically over the past two years. One anonymous source in Tehran told CoinDesk that most miners he knows are “under the radar” and import equipment through the black market, without paying taxes.

The Central Bank of Iran finally recognised the grassroots industry and promised a lawful licensing procedure in July 2019. The pending proposal was approved by Reza Rahmani, Iran’s Minister of Industry, Mine and Trade. The Iranian mining licenses would only apply to miners with equipment that requires 30 kilowatts, which might exclude homemade mining equipment or small operations.

“It’s obvious that the power industry here in Iran, it’s not a private business, it’s from the government. They need to figure out how to balance mining [operations] so that they wouldn’t harm the power grid. If there’s a constant, a continuous consumption of electricity you can also make new power plants or assign power plants to this,” an anonymous source said.

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Cryptocurrency

Facebook to Launch Libra Digital Cryptocurrency in 2020

Niji Narayan

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Facebook to Launch Libra Digital Cryptocurrency in 2020
Reading Time: < 1 minute

 

Facebook is planning to launch its Libra digital cryptocurrency in 2020. A Facebook executive told that the company presses ahead despite authorities around the world pouring cold water on the plans.

Since Facebook unveiled its plans in June, its proposed cryptocurrency has met with regulatory and political scepticism, with France and Germany pledging to block Libra from operating in Europe.

“The goal is still to launch Libra next year. Until then, we’ll need to address all questions adequately, create a suitable regulatory environment,” Facebook’s David Marcus said.

Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities and overseen by a 28-member organisation.

Marcus said it was unlikely Libra coins would become a means of payment for regular real-world transactions in countries like Switzerland, Germany or France, but would rather be used for cross-border payments or for settling very small sums.

“It’s unlikely in any case the people will pay for an espresso in Switzerland, Germany or France with Libra in the future,” Marcus said.

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