Trends in the crypto world over the last week are explored.
The City Council of Torrevieja, a city located in the province of Alicante, Spain, wanted to join the path towards innovation by proposing to businesses the possibility of incorporating this new form of payment into their economy. The initiative is supported by the Bitnovo exchange.
Through an agreement between the Department of Commerce of the City Council and the Association of Small and Medium Merchants of Torrevieja, the city of Vega Baja will allow the use of cryptocurrencies to pay in local businesses. Thus, Torrevieja “continues with its commitment to new technologies and the digitalization of the local productive fabric as a way to boost commerce and continue contributing to local economic development.”
In this regard, Rosario Martínez Chazarra, Torrevieja Councilor for Commerce, assured that the project “will enhance and modernize purchases in our local businesses and will be another incentive for those people who have cryptocurrencies.”
Crypto Company Fined in Spain for Omission of Risks in its Advertising
The National Securities Market Commission has decided to fine the company Miolo Desarrollos SL, owner of the company Material Bitcoin, for four serious infractions for failing to comply with the circular it launched on the regulation of advertising of crypto assets.
Two fines of 10,000 euros each are imposed for the commission of two serious infractions, for failure to comply with administrative control measures for crypto advertising. Mainly, the fines are for not incorporating information and warnings about the risks of crypto assets in the massive advertising campaigns carried out in La Voz de Galicia and El Mundo in the printed and digital version of the newspaper, along with its social networks.
In addition, two other fines of 5,000 euros each were imposed for failure to comply with the administrative control measures for cryptocurrency advertising, relating to advertising about cryptoassets presented as an investment object, for not submitting prior communication to the advertising campaigns. massive.
Honduras Takes Measures: Regulator Bans Banks from Holding and Transacting Cryptocurrencies
The National Banking and Securities Commission of Honduras (CNBS) prohibited the financial system from operating cryptocurrencies and virtual assets that have not been permitted by the country’s monetary authority due to the risk of fraud.
The resolution prohibits institutions supervised by the CNBS from “holding, investing, intermediating or operating with cryptocurrencies, crypto assets, virtual currencies, tokens or any other similar virtual asset, which have not been issued or authorized by the Central Bank of Honduras as Monetary Authority.” from the country”.
Supervised institutions are also prohibited from holding derivative instruments based on cryptoassets. The resolution requires that all dangers associated with cryptoassets be included in financial education programs.
Mining Farm Burned in Paraguay
According to local media reports, Volunteer Firefighters identified Bitcoin mining equipment at the site of the fire. Officials believe that the Bitcoin mining machines overheated and, as the situation was not attended to, they ignited, thus unleashing the fire in the 16-story Flytec building.
The fire department captain, Ray Mendoza, stated on February 15 that the fire was still not under control on three floors of the building, and that two of them have weakened structures, increasing the risk of collapse.
Mendoza further added that the damaged building had been used as a goods warehouse, with large quantities of cardboard boxes and lithium batteries. And he stressed that a Bitcoin mining farm operated in the structure on the 11th and 12th floors of the tower, which was already worn out.
By Audy Castaneda
