Alibaba chairman ‘likes crypto’, missing funds in El Salvadoran Bitcoin wallet and fine for Binance in Turkey

Photo by Executium on Unsplash

Alibaba vice chairman says he “likes crypto”

Executive vice-chairman of China’s biggest online retail platform Alibaba, Joe Tsai took Twitter by storm yesterday when he tweeted “I like crypto.”

What made it even more prominent is the fact that China has taken a no-nonsense policy against crypto banning all forms of crypto mining and declaring crypto transactions as illegal.

Some Salvadorans claim funds are missing from their Chivo wallets

Some of the money from El Salvador’s state-issued Chivo wallets is reportedly missing, according to many Salvadorans posting on social media.

In a Dec. 16 Twitter thread started by user “the commissioner,” at least 50 Salvadorans have reported December losses totaling more than $96,000, following the setup of the Bitcoin wallets by the government. Some of these transactions were for as little as $61, but others said they were missing thousands or more.

It’s hard to verify the news, but it’s also known that there had been more problems with the Chivo-app, starting at the launch on September 7th. Recently, the 2.0-version of the app is released with major updates.

Source: Cointelegraph

Binance gets approval in Bahrain and fine in Turkey

Binance received in-principle approval from the Central Bank of Bahrain (CBB) to establish itself as a cryptoasset service provider in the Kingdom of Bahrain.

The in-principle approval from CBB still requires Binance to complete the full application process, which is expected to be completed in “due course”.

In the meantime, the Financial Crimes Investigation Board from Turkey has fined the exchange with 8 million lira, nearly $750,000. They failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance.

Source: Cryptonews

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