Welcome to this weekly news roundup. You may have missed some important news last week. Don’t panic, UpBots has selected the hottest news of the cryptocurrency market for you.
Due to the Covid-19 pandemic and the reinforcement of this economic crisis, the number of banks charging negative interest rates to the benefit of their customers has increased in Germany. At least 80 banks are now reportedly applying negative interest rate loans, and 16 of them are reportedly applying this policy also for small amounts.
The Bitcoin Switzerland Association (BAS), in partnership with concerned industry players, announces a completely new product to use Bitcoin: tzBTC, a token on the Tezos blockchain, endorsed 1–1 by Bitcoin. …
Upbots GmbH has received a no-action letter from FINMA, the Swiss Financial Market Supversoriy Authority, recognizing that the UBX token is a payment token under the proposed structure outlined in the letter and is not a security token.
This means that UBXt is recognized by Finma as a way of payment and that its structure is also validated.
This is a very good point for the future of Upbots and for the total regulation we are aiming for. …