AMC Theatres to paramount the value of Shiba Inu coin. AMC Theatres, the largest movie theater chain in the world, will be accepting payments in two popular meme cryptocurrencies, Dogecoin and Shiba Inu in March, Adam Aron, the company’s CEO wrote on Twitter.
The company owns approximately 950 theaters and 10,500 screens worldwide.
Aron wrote: “Bitpay will be live for AMC online payments” by March 19 and live on the company’s mobile app by April 16.
Pantera Capital, a US cryptocurrency hedge fund, backed African crypto exchange VALR.com in its latest funding round, valuing the company at $240 million.
VALR.com raised $50 million, the largest amount by a crypto company in Africa to date, according to the CEO Farzam Ehsani.
The money will be used to expand operations in Africa and India, Ehsani said.
VALR.com facilitates $7.5 billion worth of annual trades in more than 60 digital currencies, including Bitcoin and Ether, Bloomberg reported.
Cryptocurrencies first started booming in Africa, particularly in Nigeria and South Africa, where nearly a fifth of the population owns some form of the digital asset.
That compares with the global average of just over 10 percent, according to the latest data from Finbold.
While crypto assets in the two countries are often used as a hedge against volatile national currencies, the lack of a regulatory framework on the continent continues to be an obstacle for companies, investors, and institutions.
South Africa is planning to provide the market with crypto regulations this year, according to Bloomberg.
Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, rising by 1.26 percent to $44,150 at 1:59 p.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,006, up by 2.94 percent, according to data from CoinDesk.
Dubai grants Binance a virtual license asset
Binance, the world’s largest cryptocurrency exchange was granted a license to conduct some operations in Dubai, the company said, from where it plans to carry out regional business.
The awarding of the Virtual Asset Licence from Dubai’s recently formed Virtual Asset Regulatory Authority comes just a day after Bahrain awarded Binance a crypto-asset service provider license.
EU regulators issue warning on crypto use
Consumers could lose all their money invested in crypto assets, the EU’s securities, banking, and insurance watchdogs said, in a joint statement on Thursday.
“Consumers face the very real possibility of losing all their invested money if they buy these assets,” the three EU authorities said in a statement.
It marks a ratcheting up of direct warnings to consumers about crypto assets by EU authorities. These spell out that consumers have no protections or recourse to compensation under existing EU financial services law.
Regulators are increasingly worried that more consumers are buying 17,000 different crypto assets, including bitcoin and ether. These account for 60 percent of the market, without being fully aware of the risks, the regulators said.
“Consumers should be alert to the risks of misleading advertisements, including via social media and influencers. They should be particularly wary of promised fast or high returns, especially those that look too good to be true,” the statement said.
Consumers should also be aware that energy consumption for producing some crypto assets is high and its potential environmental impacts, the statement added.