Crypto News: Bitfinex Bags El Salvador License as Bitcoin Miner Poolin Files for Bankruptcy
Key Insights:
- Crypto news: Bitfinex exchange secures a new licence in El Salvador, expanding its regulated digital asset business.
- Bitcoin mining firm Poolin enters bankruptcy after prolonged financial difficulties.
- BitGo CEO urges changes to digital asset tax rules to support industry growth.
Crypto news saw two major developments after Bitfinex exchange received a new licence in El Salvador while Bitcoin mining company Poolin entered bankruptcy. The updates came as BitGo Chief Executive Mike Belshe also urged lawmakers to review the Digital Asset Tax Act, saying better tax rules could help digital asset businesses grow.
Bitfinex Exchange Adds New Licence in El Salvador
Bitfinex exchange has received a Digital Asset Service Provider licence in El Salvador, giving the company another regulated business in the country. The approval means the main Bitfinex trading platform can now operate alongside Bitfinex Securities and Bitfinex Derivatives, both of which already hold licences there.
The new approval gives Bitfinex a regulated presence across spot trading, derivatives and tokenised securities. It also adds to the company’s business in Latin America, where interest in digital assets has continued to grow.
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