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SOFIA, Bulgaria (AP) — Romania and Bulgaria partially joined Europe’s ID-check-free travel zone on Sunday, marking a new step in the two countries’ integration with the European Union. After years of negotiations to join the Schengen area, there is now free access for travelers arriving by air or sea from both countries. The Schengen Area was established in 1985. Before Bulgaria and Romania’s admission, it was comprised of 23 of the 27 EU member countries, along with Switzerland, Norway, Iceland and Liechtenstein. Truck drivers are frequently stuck in kilometers-long queues at the borders of both Romania and Bulgaria.

Persons: Ursula von der Leyen, Siegfried Muresan, ”, Marcel Ciolacu, ” Kalin, “, ___ McGrath Organizations: —, European Union, EU, Schengen, Associated Press, European Commission, The Union of International Carriers Locations: SOFIA, Bulgaria, — Romania, Austria, Switzerland, Norway, Iceland, Liechtenstein, Romania, Croatia, Romanian, Europe, Sofia, The, Sighisoara

☆ India says Europe trade group commits to $100 billion 15-year deal
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations. It envisages that the European Free Trade Association, comprised of Switzerland, Norway, Iceland and Liechtenstein, will invest $100 billion over 15 years in India's fast-growing market of 1.4 billion people, Trade Minister Piyush Goyal said. "With the new deal, we have secured nil import taxes on nearly every Norwegian good." The five signatories must ratify Sunday's deal before it can take effect, with Switzerland planning to do so by 2025.

Persons: Piyush Goyal, Narendra Modi, Christian Vestre, Goyal Organizations: of Commerce and Industry, Consumer Affairs, Food, United Arab, European Free Trade Association, Trade, Industry Locations: India, Australia, United Arab Emirates, Britain, Switzerland, Norway, Iceland, Liechtenstein

☆ India inks 'watershed' $100 billion free trade deal with four non-EU nations
▼ + stars: | 2024-03-11 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

India flag, stock market, exchange economy and Trade, oil production, container ship in export and import business and logistics. India will lift most tariffs on four nations in Europe in a "watershed" deal that is expected to yield $100 billion worth of investment over 15 years and one billion jobs for the world's fifth-largest economy. The trade deal with European Free Trade Association nations, not part of the EU, was inked ahead of the country's general elections due in the next few months that may give Prime Minister Narendra Modi a third-straight term in office. This "marks a new turn and watershed moment in the bilateral relationship between India and [European Free Trade Association] countries of Switzerland, Iceland, Norway and Liechtenstein," India Prime Minister Narendra Modi said in comments shared on X, formerly Twitter. India expects this free trade agreement to stimulate its key exports in IT services, business services, audio-visual services among others, said Commerce and Industry Minister Piyush Goyal.

Persons: Narendra Modi, Piyush Goyal Organizations: European Free Trade Association, Free Trade Association, Twitter, Commerce, Industry Locations: India, Europe, Great Britain, Switzerland, Iceland, Norway, Liechtenstein

☆ Apple offers to give rivals access to its contactless payment tech in a bid to resolve EU antitrust case
▼ + stars: | 2024-01-19 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

Read previewApple has promised to open up its tap-and-go mobile payment system to rivals, the European Union said Friday, as the US tech company seeks to resolve an antitrust case and avoid a fine that potentially could be worth billions. Apple proposed letting third-party mobile wallet and payment service providers access the contactless payment function on its iOS operating system, the EU said. The European Commission, the bloc's executive arm and top antitrust enforcer, accused Apple in 2022 of abusing its dominant position by limiting access to its mobile payment technology. Brussels has been using antitrust cases and new digital laws to rein in the power of Apple and other tech giants and protect consumers. AdvertisementThe commission alleged that Apple was restricting competition by blocking developers of rival mobile wallet apps from accessing the near-field communication, or NFC, technology used by its Apple Pay system.

Persons: —, Apple Organizations: Service, European Union, Business, Apple, European Commission Locations: EU, Brussels, Iceland, Norway, Liechtenstein

LONDON (AP) — Apple has promised to open up its tap-and-go mobile payment system to rivals, the European Union said Friday, as the U.S. tech company seeks to resolve an antitrust case and avoid a fine that potentially could be worth billions. Apple proposed letting third-party mobile wallet and payment service providers access the contactless payment function on its iOS operating system, the EU said. The European Commission, the bloc's executive arm and top antitrust enforcer, accused Apple in 2022 of abusing its dominant position by limiting access to its mobile payment technology. Brussels has been using antitrust cases and new digital laws to rein in the power of Apple and other tech giants and protect consumers. The commission alleged that Apple was restricting competition by blocking developers of rival mobile wallet apps from accessing the near-field communication, or NFC, technology used by its Apple Pay system.

Persons: Apple Organizations: European Union, U.S ., Apple, European Commission Locations: U.S, EU, Brussels, Iceland, Norway, Liechtenstein

NEW YORK (AP) — Franz Welser-Möst is back on the Cleveland Orchestra's podium, concentrating again on music instead of his health. Political Cartoons View All 253 ImagesWelser-Möst had surgery Sept. 1 to remove a cancerous tumor from his bladder and came back to Cleveland to conduct the orchestra's season opener on Sept. 28. Both are very well now, so there’s every reason to be optimistic.”Welser-Möst has been Cleveland's music director since 2002-03 and has appointed 69 musicians, including 52 of the current 105 members. And in those days, of course, I was like: How on earth is he doing that?”Welser-Möst first conducted the Cleveland Orchestra in 1993 and became music director for the 2002-03 season. On the afternoon of his return concert on Jan. 11, he announced he will retire as music director at the end of 2026-27, his 25th season.

Persons: — Franz Welser, “, George Szell, ”, Verdi's, Möst, André Gremillet, Franz Leopold Maria Möst, Baron Andreas von Bennigsen, Herbert von Karajan, Karajan, Albert Moser, Vienna’s, “ I’d, wasn't, “ I’m, Clive Gillinson, he's, Beethoven's, Strauss, “ I’ve, Riccardo Muti, Gustavo Dudamel Organizations: Cleveland, Cleveland's Severance Music Center, Carnegie Hall, Vienna Philharmonic, Vienna State Opera, Salzburg Festival, Cleveland Orchestra’s, Berlin Philharmonic’s, Karajan, Cleveland Orchestra, Carnegie, ” Carnegie Hall, Chicago Symphony Orchestra, Los Angeles Philharmonic, New York Philharmonic, “ Locations: Austrian, Austria, New York, Naples, West Palm Beach , Florida, Cleveland, Vienna, Linz, Welser, Liechtenstein, Salzburg, Berlin, York, Weimar Republic, Weimar, Zurich, U.S

☆ Ronaldo scores as Portugal beat Liechtenstein 2-0
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Cristiano Ronaldo found the back of the net to help Portugal beat Liechtenstein 2-0 in Group J clash on Thursday as the 38-year-old tied Belgium's Romelu Lukaku as the Euro 2024 qualifying campaign's top scorer. With their spot for the finals already secured, Portugal are on top of their group on 27 points, eight ahead of second-placed Slovakia. Liechtenstein are bottom with no points after nine games. Ronaldo extended his lead as the all-time top scorer in international soccer by moving up to 128 goals in 204 matches. Joao Cancelo extended their lead in the 56th minute, taking advantage of a blunder by goalkeeper Benjamin Buechel, who was out of position, to striked into the empty net.

Persons: Cristiano Ronaldo, Lukaku, Roberto Martinez, Diogo Jota's, Ronaldo, Joao Cancelo, Benjamin Buechel, Fernando Kallas, Julien Pretot Organizations: Portugal, Liechtenstein, Thomson Locations: Portugal, Slovakia, Liechtenstein, striked

☆ Global assets in spot bitcoin ETFs hit $4.16 billion - CoinGecko
▼ + stars: | 2023-11-03 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total $4.16 billion, according to CoinGecko, a cryptocurrency data and analysis company. Nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021. Canada also is home to the single largest of the 20 ETFs, the Purpose Bitcoin ETF , which has $819.1 million in assets. The SEC has so far denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. There's fierce debate about the potential size of the U.S. spot bitcoin ETF market, with estimates starting at $1 billion or more in first-day demand.

Persons: Dado Ruvic, Suzanne McGee, Mark Potter Organizations: REUTERS, Global, United States Securities, Exchange Commission, SEC, Thomson Locations: bitcoin, Canada, U.S, Jersey, Cayman Islands, Liechtenstein, Brazil, Australia

LONDON (AP) — Facebook and Instagram users in Europe are getting the option to pay for ad-free versions of the social media platforms as a way to comply with the continent’s strict data privacy rules, parent company Meta said Monday. Starting in November, users on desktop browsers can pay about 10 euros ($10.50) a month while iOS or Android users will pay roughly 13 euros. The fee will cover all linked Facebook and Instagram accounts until March, when Meta will start charging 6 euros for each additional account. Political Cartoons View All 1223 ImagesThe paid option “balances the requirements of European regulators while giving users choice and allowing Meta to continue serving all people,” Meta said. Meta said it's looking into how how to “provide teens with a useful and responsible ad experience” given the Europan privacy ruling.

Persons: Meta, ” Meta Organizations: Facebook, Apple, Google, Meta, Street Locations: Europe, U.S, Switzerland, Norway, Iceland, Liechtenstein

☆ Facebook and Instagram users in Europe can now opt out of ads — for a price
▼ + stars: | 2023-10-30 | by ( Samantha Kelly | ) edition.cnn.com time to read: +2 min

CNN —Instagram and Facebook users in Europe now have a choice to opt out of targeted ads if they pay for a monthly subscription. The offerings are part of an effort to comply with multiple European regulations aimed at curbing US technology companies’ use of personalized ads. Over the last year, the EU has tightened its rules and will soon require Big Tech companies to ask users for their consent around such advertising. In July, a court ruled that tech companies could use subscription models as a way of obtaining such consent, including asking users if they wanted to access Facebook and Instagram without advertising for a fee. Users will still be able to use Instagram and Facebook for free but will continue to see ads.

Persons: CNN — Instagram, ” Meta, ” Organizations: CNN, Meta, European Union, EU, Big Tech, Facebook, Data Locations: Europe, Iceland, Liechtenstein, Norway, Switzerland

Meta said on Monday that it will introduce an advertisement-free subscription option for Facebook and Instagram for the first time beginning next month for users in Europe, a sign of how government pressure is leading large tech companies to change their core products. The social networking company said it was complying with “evolving European regulations” by introducing the subscription option in the European Union, Iceland, Liechtenstein, Norway and Switzerland. Starting in November, users will be able to choose to continue using Facebook or Instagram for free with ads, or to subscribe to stop seeing ads, Meta said. The cost will range from 9.99 euros a month ($10.58) on the web to 12.99 euros a month ($13.75) on iOS and Android devices, and apply to a user’s linked Facebook and Instagram accounts. Amazon, Apple, Google, TikTok and others are also making changes to comply with new rules in the European Union, which is home to roughly 450 million people across 27 countries.

Persons: Meta Organizations: Facebook, European, Apple, Google, European Union Locations: Europe, European Union, Iceland, Liechtenstein, Norway, Switzerland

☆ Bosnia FA sanctioned by UEFA over crowd trouble
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:Soccer Football - Euro 2028 & Euro 2032 Hosts Announcement - Nyon, Switzerland - October 10, 2023 The UEFA logo is pictured at the headquarters ahead of the announcement REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 25 (Reuters) - UEFA has sanctioned the Bosnian Football Association (NFSBIH) for crowd disturbances at their recent Euro 2024 qualifying games, European soccer's governing body said on Wednesday. UEFA's Control, Ethics and Disciplinary Body fined Bosnia 20,000 euros ($21,000) and ordered the partial closure of their stadium for their next home match for the discriminatory behaviour of their supporters during the game against Portugal. They have also been fined 26,000 euros for the blocking of public passageways, throwing of objects and invasion of the pitch at the match on Oct. 16. Bosnia have also been fined 20,000 euros and received a ban on selling tickets to supporters for their next competitive away game for the lighting and throwing of fireworks during the match in Liechtenstein on Oct. 13. ($1 = 0.9459 euros)Reporting by Trevor Stynes, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Trevor Stynes, Ed Osmond Organizations: Football, UEFA, Bosnian Football Association, UEFA's, Bosnia, Portugal, Thomson Locations: Nyon, Switzerland, Bosnia, Liechtenstein

GENEVA (AP) — The Ukraine soccer federation said it will boycott any European youth competition that includes Russia as UEFA works on easing a blanket ban imposed since the war started. Ukraine soccer officials also urged other UEFA member countries late Tuesday to refuse to play Russia, a stance that England reiterated within hours of the European soccer body announcing a new policy of trying to reintegrate Russian Under-17 teams. Switzerland’s soccer federation also said its women’s team would not play Russia at the Euro 2022 tournament hosted by England. UEFA said “children should not be punished for actions whose responsibility lies exclusively with adults,” and its staff will look at finding groups that Russian Under-17 teams can play in. Russian youth players plus their coaches and officials would face issues getting visas and flights to travel for UEFA games.

Persons: “ UAF, “, ”, Andriy Pavelko, Alexander Dyukov, Dyukov, Robert Lewandowski, David Gill, Debbie Hewitt Organizations: GENEVA, UEFA, Russian Federation, FIFA, Russian, England, English Football Association, FA, won’t, Russia Locations: Ukraine, Russia, England, Latvia, Baltic, Kyiv, Cyprus, Poland, Moscow, Ukraine’s, Germany, Austria, Romania, Liechtenstein, Finland, Russian, Serbia

☆ Portugal chalk up record win with 9-0 thrashing of Luxembourg
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

Sept 11 (Reuters) - Portugal enjoyed their biggest-ever win as they thumped Luxembourg 9-0 at Estadio Algarve on Monday to preserve their perfect record in Euro 2024 qualifying. Substitute Joao Felix secured the record victory with a goal two minutes from time after Goncalo Inacio, Goncalo Ramos, and Diogo Jota all scored twice. Portugal's previous record was 8-0, which they achieved three times - twice against Liechtenstein (1994 and 1999) and once versus Kuwait (2003). Portugal have won all six of their Group J matches under Roberto Martinez, who took over in January, scoring 24 goals with none conceded. The result matched the biggest-ever loss for Luxembourg, who have 10 points and are third, three points behind Slovakia.

Persons: Joao Felix, Goncalo Inacio, Goncalo Ramos, Diogo Jota, Ricardo Horta, Bruno Fernandes, Roberto Martinez, Tommy Lund, Ken Ferris Organizations: Estadio Algarve, Liechtenstein, Slovakia, Thomson Locations: Portugal, Luxembourg, Kuwait, Slovakia, Gdansk

Scott McTominay moved ahead of Cristiano Ronaldo and Harry Kane as the joint leading scorer in European Championship qualifying with Scotland on the brink of securing a place at next year's tournament. Manchester United midfielder McTominay claimed his sixth goal in qualifying for Euro 2024 as Scotland stayed ahead of Spain in the group on a maximum 15 points after five straight wins. Scotland needs two more points to ensure its place at the tournament, which will be held in Germany. McTominay has also been involved in more goals than any other player during qualifying, having provided one assist. He made history by overtaking Real Madrid and Wales great Gareth Bale as the youngest scorer in European qualifying.

Persons: Scott McTominay, Cristiano Ronaldo, Harry Kane, McTominay, Lamine Yamal, Spain —, Rasmus Hojlund, Romelu, Ronaldo, Kane, Steve Clarke, “ He’s, “, Ryan Porteous, John McGinn, Gareth Bale, Bale, Yamal, Gavi, ” Yamal, Alvaro Morata’s, Bruno Fernandes, It's, Roberto Martinez, Luxembourg's, Bruno Petković, Turkey, Bertug Yildirim, ___ James Robson Organizations: Scotland, Spain, Georgia . Manchester United, AEK Arena, Georgia, Real Madrid, Wales, Slovakia, Portugal's, Portuguese, Iceland, Latvia, Armenia Locations: Cyprus, Spain, Germany, Denmark, Belgium, Scotland, Larnaca, Norway, Georgia, Liechtenstein, Bosnia, Herzegovina, CROATIA, Croatia, Turkey

Stick with us, and we'll show you how to watch the 2023 US Open with free live streams available to virtually anyone. How to watch the US Open live stream free from anywhereYou can catch most of the key US Open action using one of the free live streams available. When: August 28 - September 10How to watch the US Open in the USAESPN has the rights to the US Open live streams in the US. How to watch the US Open for free in New ZealandTVNZ is streaming the US Open free online. How to watch the US Open in EuropeMost European countries can stream the US Open through Eurosport.

Persons: Novak Djokovic, Carlos Alcaraz, Daniil Medvedev, John Isner, Iga, Coco Gauff, Marketa, We've, you'll, ExpressVPN, Stan Sport Organizations: New Zealand, TVNZ, ESPN, USA ESPN, ESPN2, ESPN Deportes, ESPN Plus, Subscription, Australia Viewers, New Zealand TVNZ, Sky Sports, Sports Network, TSN, Bell, TSN Plus, Eurosport, Tennis, Sunday Locations: Australia, New, 9Now, New Zealand, Canada, Europe, Albania, Andorra, Armenia, Azerbaijan, Belgium, Bosnia, Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Greece, Hungary, Iceland, Israel, Kazakhstan, Kosovo, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, Uzbekistan

☆ Shares of famous artwork are going public for the first time with a top painting's IPO expected to draw $55 million
▼ + stars: | 2023-06-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

It will allow retail investors to join the high-value art market, purchasing fractional ownership. The IPO is led by Artex, with shares only available on a specially made art stock exchange. Shares will be valued at around $100 each and will trade on a newly formed art stock exchange in Liechtenstein. By splitting a work's cost into more-affordable shares, retail investors can join the market without having to pay millions of dollars. While other companies have offered fractionalized ownership for artwork before, Artex is the first to take a piece public, allowing shares to be traded more easily.

Persons: Francis Bacon, Artex, —, George Dyer Organizations: Street Journal, Service, Wall Street Locations: Liechtenstein

☆ Sterling volatile, Norwegian crown surges and Swiss franc falls on rate hikes
▼ + stars: | 2023-06-22 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The BoE's Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, its highest since 2008 and its largest rate increase since February. SWISS FRANCThe Swiss franc fell after the Swiss National Bank (SNB) hiked its benchmark interest rate by 25 basis points to 1.75%, defying some market expectations of a bigger increase. However, economists polled by Reuters had expected the SNB to hike rates by 25 bps. The Swiss franc fell 0.15% to 0.8942 against the dollar, moving away from a six-week high it touched last week. In an attempt to curb inflation, Norges Bank raised interest rates to 3.75%, sending the crown more than 1% higher both against the euro and dollar.

Persons: Dado Ruvic, BoE, Sterling, BOE, Paul Oberschneider, Alex Livingstone, Thomas Jordan, Thomas Gitzel, POWELL, Jerome Powell, Joice Alves, Alexander Smith, Conor Humphries Organizations: U.S, REUTERS, Norges Bank, Swiss, Bank of England, Swiss National Bank, MPC, Reuters, Hilltop Credit Partners, Trading, Titan Asset Management, SWISS, ECB, European Central Bank, Fed, Federal, Bank Group, bps, Bank, Capitol, The U.S, Thomson Locations: Norwegian, London, Liechtenstein, NORWEGIAN, The, Asia, Hong Kong, China

☆ Ronaldo gives Portugal late win on 200th international appearance
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 - Cristiano Ronaldo scored a stunning late goal as Portugal beat Iceland 1-0 on Tuesday to extend their perfect record in Euro 2024 qualifying Group J on an historic night for the forward who became the first player to make 200 international appearances. Ronaldo already held the record for most international appearances when he surpassed Kuwait’s Bader Al-Mutawa’s, who held the record of 196 matches, during Portugal's Euro 2024 qualifier against Liechtenstein in March. It was Ronaldo's 123rd goal for Portugal, extending his record as the all-time leading international goalscorer. The result left Portugal top with 12 points, two ahead of second-placed Slovakia, who won 1-0 away to Liechtenstein earlier on Tuesday. But Portugal responded after the break and gradually got into the game, with Ronaldo's goal securing the points.

Persons: Cristiano Ronaldo, Ronaldo, Kuwait’s Bader Al, Mutawa’s, Willum Thor Willumsson, Goncalo Inacio, Victor Palsson, Hordur Magnusson, Fernando Kallas, Ken Ferris Organizations: Portugal, Iceland, Liechtenstein, 123rd, Thomson Locations: Iceland, Portugal, Slovakia, Liechtenstein

HAMBURG, June 11 (Reuters) - BioNTech (22UAy.DE) will go to court on Monday to defend itself against a lawsuit from a German woman who is seeking damages for alleged side effects of its COVID-19 vaccine, the first of potentially hundreds of cases in the country. The plaintiff claims she suffered upper-body pain, swollen extremities, fatigue and sleeping disorder due to the vaccine. Tobias Ulbrich, a lawyer at Rogert & Ulbrich, told Reuters he aimed to challenge in court the assessment made by European Union regulators and German vaccine assessment bodies that the BioNTech shot has a positive risk-benefit profile. Almost 768 million vaccine doses have been administered in the European Economic Area (EEA), which includes the 27 EU member states plus Iceland, Liechtenstein and Norway. Rogert & Ulbrich says it has filed about 250 cases for clients seeking damages for alleged side-effects of COVID-19 vaccines.

Persons: Tobias Ulbrich, Caesar, Preller, Ludwig Burger, Patricia Weiss, Emilio Parodi, Natalie Grover, Sam Tobin, Josephine Mason, Mark Potter Organizations: Reuters, European Union, Pfizer, European Medicines Agency, EMA, Economic, BioNTech, United, Thomson Locations: HAMBURG, Hamburg, Germany, Iceland, Liechtenstein, Norway, United States, Italy, Milan, London

☆ Here's how rich you need to be to be among the wealthiest 1% in the US, UK, and China
▼ + stars: | 2023-05-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

New data from Knight Frank shows how rich you need to be to make the top 1% in 25 countries. Monaco tops the list. It's $3.3 million in the UK, $1.6 million in the UAE, and $960,000 in mainland China. The highest-ranking Asian country is Singapore, where you need $3.5 million to be in the wealthiest 1%, just ahead of Hong Kong at $3.4 million. In Japan you need $1.7 million to make the cut, whereas in mainland China it's $960,000.

☆ Bittrex approved to borrow $7 mln bankruptcy loan in bitcoin
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Seattle-based Bittrex filed for bankruptcy Monday, saying it intended to return customer funds and wind down its U.S. operations. Before filing for bankruptcy, Bittrex stopped accepting new deposits from U.S. customers and told its existing users to withdraw their crypto from the platform. Shannon approved the loan on an interim basis, allowing Bittrex to borrow 250 bitcoin from its parent company Aquila Holdings, which is not filing for bankruptcy. Bittrex will seek permission to borrow an additional 450 bitcoin at a hearing in June, and the total value of its proposed loan is $19.7 million, based on bitcoin prices when it filed for bankruptcy. The case is Bittrex Inc, U.S. Bankruptcy Court for the District of Delaware, No.

☆ Crypto exchange Bittrex files for bankruptcy after SEC complaint
▼ + stars: | 2023-05-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Bittrex has denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts. Bittrex's other largest creditors were mostly customers of the crypto exchange.

☆ Liechtenstein to allow payment for certain state services in Bitcoin - Handelsblatt
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Liechtenstein plans to allow Bitcoin payments for certain state services, Prime Minister Daniel Risch told the German business daily Handelsblatt in an interview. "A payment option with Bitcoin is coming," Risch said in the interview on Sunday, without giving a specific timeframe. Risch, who is also Liechtenstein's finance minister, said the country plans to accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency. The prime minister said there was no plan for any big risks with state money but added he was open to investing state reserves in Bitcoin in the future. The state's reserves, which are primarily invested in the capital market, currently amount to 2.23 billion Swiss francs, ($2.51 billion), Handelsblatt reported, citing the finance ministry.

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

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