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Bitget Partners with Three Turkish National Athletes under the #MakeItCount Campaign

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VICTORIA, Seychelles, June 11, 2024 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, announces the addition of renowned Turkish Athletes, Buse Tosun Çavuşoğlu, Samet Gümüş and İlkin Aydın to its #MakeItCount campaign. The campaign initially launched with Lionel Messi in 2022, and the latest formed sports collaborations represent a commitment to expanding Bitget’s vision of inspiring and empowering its users in Turkey.

The athletes embody attributes – Perservance, Positive Passion and No Progress too Small, which have been identified through their hard work and dedication in their respective sports. These qualities synchronise with Bitget’s #MakeItCount campaign with Lionel Messi, where we aim to inspire and empower our audiences to achieve new heights and make a lasting impact. Each athlete brings a unique story of dedication and success, making them ideal pillars for the #MakeItCount initiative.

“At Bitget we thrive on perseverance and keep on going despite what obstacle may come our way. As the leading crypto platform we believe in the long term vision of financial freedom and have a strong positive passion in helping the ecosystem grow. For us, wins and losses are both milestones and there’s no progress is too small. Our partners reflect this belief,” said Vugar Usi Zade, Chief Operating Officer, Bitget

Buse Tosun Çavuşoğlu, Samet Gümüş and İlkin Aydın stand as role models of achievement and determination in their respective sports.

As a proud representative of Tukey, Buse has won numerous victories and claimed the wrestling championship title for the European Championship and World Championship representing values of perseverance and sportsmanship.

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Claiming the European Championship twice, Samet is the flyweight professional boxing gold medalist in the country. At the age of 22, his positive passion for boxing is an inspiration to the younger generation and serves as a reminder to others to keep things going even if the path gets rough.

Being a dynamic force in the Turkish Women’s Volleyball team, İlkin Aydın possesses exceptional skill, agility and an intense passion for the game. The belief in “No progress too small” is evident through her growth and efforts to be a team player.

The accomplishments highlight the dedication and reflect the core values of Bitget’s #MakeItCount campaign. By instilling perseverance, passion, and the belief that no progress is too small, the athletes symbolize Bitget’s vision of inspiring and empowering users to pursue ambition and make every effort count.

Turkey is experiencing substantial growth in its cryptocurrency market. Meanwhile, Bitget has observed tremendous growth across multiple metrics from Q4 2023 to Q1 2024. Signups have increased by over 70%, total trading volume has surged by more than 270%, and net deposit amounts have climbed by 240%.

Since 2021, Bitget has been partnering with leading sports clubs and players throughout the globe. Bitget has previously partnered with teams and businesses which exemplify the highest levels of their respective industries. From Italy’s most established football club to esports titan, to the partnership with legendary icon Lionel Messi and many more. The company is keen on building trust and transparency and reaching true mass adoption through a network of reputable partners.

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For more information on the partnership visit – https://www.bitget.com/elite-athletes-partnership

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and many more. 

For more information, visit: Website  | Twitter  | Telegram  | LinkedIn  | Discord | Bitget Wallet

Photo – https://mma.prnewswire.com/media/2435263/Bitget_enters_partnership_Turkish_National_Athletes_Buse_Tosun__avu_o_lu.jpg

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Cision View original content:https://www.prnewswire.co.uk/news-releases/bitget-partners-with-three-turkish-national-athletes-under-the-makeitcount-campaign-302169182.html

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Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations

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Brazil to Enhance Scrutiny on Foreign Crypto Exchanges

Brazil’s Receita Federal is set to intensify oversight of foreign digital asset exchanges operating within the country, aiming to strengthen regulation and transparency in this rapidly growing sector. The national tax authority plans to collect operational data from platforms such as Binance, Coinbase, and Kraken, despite the absence of a comprehensive regulatory framework for cryptocurrencies in Brazil.

Tightened Oversight on Foreign Crypto Exchanges
As digital asset popularity surges in Brazil, the government is taking steps to understand and regulate the activities of international cryptocurrency exchanges. A mandate, expected to be issued this week, will require these platforms to disclose their operational methodologies and customer service practices within the region. The focus of Brazilian tax authorities is to ensure compliance with local tax laws and anti-money laundering regulations.

Surge in Digital Asset Usage
The decision comes amidst a significant increase in digital asset usage in Brazil, with reported crypto holdings by Brazilians reaching 133.6 billion reais ($24.6 billion) from January to July 2023—a 36.6% increase from the previous year. This heightened scrutiny is vital as the government pushes for greater transparency while still developing a concrete regulatory framework, expected to be proposed by the end of 2024.

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Receita Federal to Audit International Crypto Platforms
Andrea Chaves, Deputy Secretary of Inspection at the Receita Federal, emphasized the importance of this initiative. The government aims to ensure that these exchanges comply with tax obligations and do not engage in illegal activities. Additionally, they seek to confirm that services offered to Brazilian customers are fully legal, addressing concerns that some platforms might bypass local regulations, leading to unreported revenue and facilitating illicit financial flows.

Wagner Lima, a risk management coordinator at the Revenue Service, highlighted the need to examine partnerships between foreign exchanges and local service providers. This scrutiny ensures adherence to a 2019 regulation mandating information sharing, crucial for maintaining the integrity of Brazil’s financial systems.

Upcoming Ordinance Requirements
The forthcoming ordinance will require exchanges to provide detailed information about their operations, excluding customer-specific data and transactional details to comply with current Brazilian laws. The 51.2% increase in declared holdings through foreign exchanges from the previous year underscores the growing importance of these platforms in the local market.

Source: coingape.com

The post Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations appeared first on HIPTHER Alerts.

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