Bitcoin-Friendly Argentina PresidentialCandidate Javier Milei Wins Election
Javier Milei – Argentina’s Bitcoin-friendly Presidential candidate, won the country’s presidential run-off election on Nov. 19 as his opponent Sergio Massa conceded the race with almost 99% of the votes counted.
Notably, at that point Milei had won over 55% of the votes, giving him a nearly 3-million-vote lead.
In the run-up to the election, Milei had addressed the country’s inflation problem by publicly voicing his criticisms toward the country’s central bank, referring to it as a scam and a “mechanism by which politicians cheat the good people with inflationary tax.”
While he has not expressed any intention to make Bitcoin legal tender, he has previously referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.”
Milei, whose dog is named “Milton” after the famous economist Milton Friedman, is expected to take office on December 10.
Trading quietly through most of the weekend, bitcoin began rising late Sunday afternoon on chatter about a strong showing for Milei. Following Massa’s concession, the crypto went higher by nearly 3% to around $37,000.
Milei is a self-described anarcho-capitalist. He has promised to eliminate the country’s central bank and dollarize the Argentine economy. The Argentine peso has been devastated by inflation which reached 142% in October.
Earlier this year, hundreds of Argentines gathered in support of Bitcoin, forming the shape of a giant BTC symbol to protest the government’s rampant inflation plaguing the country.
The new president has been extremely vocal about his criticisms of central banking, previously stating “The central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax.”
While the future of Bitcoin remains uncertain in Argentina at the moment, Javier Milei being sworn into office is hopefully one step closer to the country joining El Salvador in officially adopting Bitcoin as legal tender and holding it as a reserve asset.
Santander Private Bank Introduces Bitcoin, Ethereum Trading For Clients In Switzerland
According to a CoinDesk report, Santander Private Banking International (part of Spanish financial services giant Banco Santander) is offering trading and investing services for BTC and ETH to its high-net-worth clients with Swiss accounts. The bank is also reportedly planning to increase the number of supported cryptocurrencies once they meet the bank’s screening criteria, over the next few months.
Notably, the service will only be provided upon client request through relationship managers, and the assets will be held in a regulated custody model in which the bank itself stores the private cryptographic keys in a secure environment. John Whelan, head of crypto and digital assets at Santander, stated,
“The Swiss regulation related to digital assets is one of the first and most advanced in the world since it provides clarity and a comprehensive regulatory environment for our clients. As holding of crypto as an alternative asset class continues to expand, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their assets.”
IUt’s a bold move given that most big banks prefer to be twiddling around with tokenization and tend to avoid exposure to open-access blockchains and the cryptocurrencies that run on them.
Banco Santander is more than 160 years old and has 166 million customers. The private bank caters to 210,000 wealthy clients, with assets and deposits accounting for about $315 billion.
Santander Private Bank Introduces Bitcoin,Ethereum Trading For Clients In Switzerland
According to a CoinDesk report, Santander Private Banking International (part of Spanish financial services giant Banco Santander) is offering trading and investing services for BTC and ETH to its high-net-worth clients with Swiss accounts. The bank is also reportedly planning to increase the number of supported cryptocurrencies once they meet the bank’s screening criteria, over the next few months.
Notably, the service will only be provided upon client request through relationship managers, and the assets will be held in a regulated custody model in which the bank itself stores the private cryptographic keys in a secure environment. John Whelan, head of crypto and digital assets at Santander, stated,
“The Swiss regulation related to digital assets is one of the first and most advanced in the world since it provides clarity and a comprehensive regulatory environment for our clients. As holding of crypto as an alternative asset class continues to expand, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their assets.”
IUt’s a bold move given that most big banks prefer to be twiddling around with tokenization and tend to avoid exposure to open-access blockchains and the cryptocurrencies that run on them.
Banco Santander is more than 160 years old and has 166 million customers. The private bank caters to 210,000 wealthy clients, with assets and deposits accounting for about $315 billion.
Atomic Wallet Asks To Toss Suit Over$100M Hack, Saying It Has “No US Ties”
The Estonia-based company behind Atomic Wallet has reportedly filed a motion to dismiss a class action suit seeking damages from a $100-million hack before a U.S. court, stating that the class action suit should have been filed in Estonia, where it’s based, instead of the United States.
Notably, the Estonian firm argued it has “no U.S. ties,” and its end-user license agreement required all litigation against it be filed in its home country of Estonia.
The filing also pointed out that only one user in Colorado was allegedly affected. Further, it stated that the 5,500 allegedly affected Atomic users had agreed to its terms of service, which expressly disclaims liability for losses due to theft and limits damages to $50 per user.
Atomic said the plaintiff’s negligence claims also lack legal merit because a legal duty was never created in which they were to maintain Atomic Wallet’s security and protect against hacking.
“This Court has repeatedly rejected similar claims because Colorado recognizes no such duty,” it wrote.
Allegations of fraudulent misrepresentation were also struck down by the Estonian-based wallet provider.
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