Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


Bitcoin and ethereum are not securities, Belgium declares – Yahoo Finance UK

If you’re suffering financial abuse and can’t see a way out, there is help out there
Financial regulators in Belgium have declared bitcoin (BTC-USD) and ethereum (ETH-USD) should not be classified as securities.
The Financial Services and Markets Authority (FSMA) of Belgium released a document on Thursday that stated cryptocurrencies without an issuer are not securities.
The regulator specifically identified bitcoin and ethereum as exempt from having to operate as securities within the EU country's financial system.
Check: Crypto live prices
The document said: "If there is no issuer, as in cases where instruments are created by a computer code and this is not done in execution of an agreement between issuer and investor, for example, bitcoin or ether, then in principle the Prospectus Regulation, the Prospectus Law and the MiFID rules of conduct do not apply."
EU-based MiFID rules say that transferable instruments with an issuer are likely to constitute a security.
Apart from bitcoin and ethereum, other cryptocurrencies will be designated as having a centralised issuer and so will have to produce an honest prospectus of information for potential investors and adhere to the EU's MiFID rule which requires financiers to avoid conflicts of interest.
The exemption of ethereum from securities laws by the Belgian regulator sets a precedent in the development of cryptocurrency regulatory frameworks across the world.
In an unusual alliance, both bitcoin maximalists — those that advocate only bitcoin and renounce all other cryptocurrencies — and US regulators argue that ethereum is a security.
They point to the presence of a centralised body, called the Ethereum Foundation, and that its issuance can be controlled via updates of the underlying code.
However, the Ethereum Foundation states on website that it is a non-profit organisation with a goal of supporting Ethereum and related technologies.
The website says: "The Ethereum Foundation is not a company or even a traditional non-profit. Their role is not to control or lead Ethereum, nor are they the only organisation that funds critical development of Ethereum-related technologies."
Read more: Doge surges over speculation of Elon Musk and Ethereum co-founder Vitalik Buterin working together
Some argue that Ethereum is a security as it has a recognisable co-founder, Vitalik Buterin, and holders of the cryptocurrency can stake their assets and generate yield.
US Securities and Exchange Commission (SEC) head Gary Gensler has said on multiple occasions that if you can generate staking with a crypto asset, that makes it a security.
Ethereum can be staked under the cryptocurrency's new proof of stake validation method and stakers are rewarded with ether.
In contrast to this, Gensler points to bitcoin's unique characteristic as a decentralised digital asset without a specific founder, developer team, or foundational body.
Bitcoin was created by the pseudonymous Satoshi Nakomoto in 2011 and has no issuing centralised body nor has it a marketing team or joint enterprise that can profit from inward capital movement from institutional and retail investors.
The move comes as the SEC grapples with how to classify digital assets in the US.
The SEC is currently locked in a legal suit with the organisation that issues the Ripple (XRP-USD) cryptocurrency.
In the SEC vs Ripple case, the defence team argues that Ripple believed XRP, along with bitcoin and ether, are not securities
On Monday, bitcoin was down 0.5% in the past week to $16,209, while ether rose 2.4% to $1,171.
The entire Juventus board of directors have resigned. The collective resignation comes after Juventus’ financial statements received scrutiny from prosecutors and Italian market regulator Consob in recent months for alleged false accounting and market manipulation. Juventus said its directors had discussed the issue at a meeting on Monday and concluded it would be best addressed by a new board, given "the relevance of the pending legal and technical/accounting matters."
Two-thirds of abusers were using rising prices as a tool for coercive control, according to charity Women's Aid.
(Bloomberg) — Stocks painted a mixed picture in Asia as a heavy police presence deterred Covid protests in China and traders weighed comments from Federal Reserve officials stressing the need for more interest rate hikes.Most Read from BloombergApple to Lose 6 Million iPhone Pros From Tumult at China PlantNext Covid-19 Strain May be More Dangerous, Lab Study ShowsThere’s a Job-Market Riddle at the Heart of the Next RecessionEquities rose in Hong Kong and mainland China, fell in Japan and fluctu
(Bloomberg) — The crypto rout has room to run, according to veteran fund manager Mark Mobius. Most Read from BloombergApple to Lose 6 Million iPhone Pros From Tumult at China PlantNext Covid-19 Strain May be More Dangerous, Lab Study ShowsThere’s a Job-Market Riddle at the Heart of the Next RecessionThe co-founder of Mobius Capital Partners LLP said in an interview Monday in Singapore that his next target for Bitcoin is $10,000. He added he wouldn’t invest his own cash or client money in digita
The Regular Saver rate is fixed for a year after opening, but HSBC said the increase will apply to all live Regular Saver accounts.
Decision on timing of Octopus’s takeover of collapsed energy supplier will be taken in court on Tuesday
The European Energy Exchange (EEX) has won the tender to host auctions of emission allowances on behalf of the German government for three years from 2024, extending its current mandate, the Leipzig-based exchange said on Monday. Starting in January 2024 for a period of three years, the EEX will continue to conduct the weekly auctions on behalf of Germany within the framework of the EU emissions trading system (EU ETS), it specified. There is also an option to extend the agreement by another two years, the EEX said.
Warren Buffett waits patiently for the stock market to be driven by panic before making his move. Here's how I'm following him to buy the fear. The post I’m buying the fear like Warren Buffett appeared first on The Motley Fool UK.
Traders were bracing for a fresh fall in the Chinese stock market on Sunday night amid fears that protests across the country would deepen its economic turmoil.
E.ON reports up to 15% drop as Grant Shapps writes to firms saying customers cutting back on energy use should not face direct debit rise
Activity indicates ‘first major failure’ to stop government interference under ownership of Elon Musk
Global Medical Tubing Market Global Medical Tubing Market Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) — The "Medical Tubing Market Size, Share & Trends Analysis Report by Product (Silicone, Polyolefins), by Application (Bulk Disposable Tubing, Catheters), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.The global medical tubing market size is expected to reach USD 19.50 billion by 2030. The market is expected to expand at a CAGR of 5.7% from 20
Chief executive Graham Stapleton said the Chancellor’s decision to impose road tax on electric vehicles from 2025 was ‘disappointing’.
The Financial Conduct Authority (FCA) said more than 1,000 former British Steel Pension Scheme members are set to receive redress payments.
The Government has confirmed the proposed internet safety laws will be refined.
Irish regulator has fined Meta almost a billion euros and still has 13 outstanding inquiries
The electricity system operator issued a notice that supplies would be tight on Monday, but rapidly cancelled it.
Global oil benchmarks pulled back from their lowest levels in nearly a year on Monday, with U.S. crude ending positive, bolstered by talk of an OPEC+ production cut that offset concerns about strict COVID-19 curbs in China, the world's biggest crude importer. Brent crude also briefly turned positive, but settled down 44 cents, or 0.5%, at trade at $83.19 a barrel, having slumped more than 3% to $80.61 earlier in the session for its lowest since Jan. 4, 2022. "The word on the street is there's rumor that OPEC+ is already starting to float the idea of a production cut on Sunday," said Matt Smith, lead oil analyst at Kpler.
Woman who was conned out of £32,000 after she came to Britain was initially refused compensation because she used a debit card to transfer money from her account
Sir Jim Ratcliffe is likely to offer as little as £3bn to buy Manchester United, according to the former UK boss of Goldman Sachs.



Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.