Nilam Resources Acquires 24,800 Bitcoin in Strategic Partnership with Xyberdata Ltd.
Nilam Resources, Inc. enters a strategic partnership to acquire 24,800 Bitcoin, signaling a shift towards digital assets in the financial landscape.
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Nilam Resources, Inc. enters a strategic partnership to acquire 24,800 Bitcoin, signaling a shift towards digital assets in the financial landscape.
This decision comes as a result of legal actions taken by the SEC against prominent exchanges such as Binance and Coinbase, in which the regulatory body asserted that certain tokens, including the ones Bitstamp is discontinuing, meet the criteria for being classified as securities.
The acquisition involved shares previously owned by an American investment firm, Pantera Capital, specializing in digital assets and asset-focused companies.
This comes after the collapse of hedge fund Three Arrows Capital and crypto exchange FTX.
China banned crypto trading and mining last year.
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Bitstamp now requires users to provide info like nationality, place of birth and tax residency, in addition to documents proving the origin of crypto and the annual income.
Uncertainty over regulation remains a key barrier to crypto investing, according to Bitstamp.