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#CryptoCorner: Tobacco Shops in Paris Selling #Bitcoin, European Banking Authority Recommends Further Analysis Before EU-Wide #Crypto Regulation

January 9th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - January 9, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: Tobacco Shops in Paris Selling #Bitcoin, European Banking Authority Recommends Further Analysis Before EU-Wide #Crypto Regulation

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Crypto Corner

Tobacco Shops in Paris Selling Bitcoin, European Banking Authority Recommends Further Analysis Before EU-Wide Crypto Regulation, National Bank of Ukraine Official Calls for Fewer Regulations in Crypto Space and Thailand Grants Three Exchange Licenses

Six French tobacco shops in Paris have begun selling cryptocurrency, according to a report from Reuters yesterday. The sellers are backed by fintech company Keplerk, which last year secured a contract with a local cash register software provider to include an option for tobacco shop owners to sell vouchers redeemable for bitcoins in an electronic wallet that is held on the Keplerk website. Keplerk co-founder Adil Zakhar wants to expand to 6500 shops by February. Zakhar commented on the appeal of a brick-and-mortar option for buying crypto:

"Some people find it complicated to get bitcoins online. They trust their local tobacco shop owner more than they would trust some remote anonymous website."

The European Banking Authority (EBA) published the results of its assessment of the applicability and suitability of EU law to crypto-assets. The EBA concluded the assessment with a recommendation of further research into crypto before an EU response can be determined. EBA Executive Director Adam Farkas said:

"The EBA's warnings to consumers and institutions on virtual currencies remain valid. The EBA calls on the European Commission to assess whether regulatory action is needed to achieve a common EU approach to crypto-assets. The EBA continues to monitor market developments from a prudential and consumer perspective."

A National Bank of Ukraine (NBU) official, Mikhail Vidyakin, told local crypto news outlet LetKnow that though he was "in favour of regulation" in fintech, excessive regulation can hinder development in the space. He said that in order to solve the problem of stagnation in the crypto space, regulation would have to be reduced.

Thailand's Securities and Exchange Commission (SEC) has granted business licenses to three crypto exchanges, according to a press release yesterday. The three are: Bitcoin Exchange Co, Ltd., Bitkub Online Co, Ltd. and Satang Corporation. Two businesses, Cash2coin and Southeast Asia Digital Exchange (SEADEX), were denied licenses, however, as they "failed to meet the approval criteria regarding important work systems".

Sam Mowers, Investorideas

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Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

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