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Bitcoin Daily: Norton To Allow Crypto Mining On Its Platform; Paloma Pay Develops Crypto Payments Platform For Cannabis Industry

NortonLifeLock has debuted a way for customers to mine cryptocurrency with Norton Crypto, according to a press release. Some Norton 360 customers in an early adopter program have already been invited to mine for Ethereum.

The release stated that the purpose of the program is to ease the risks on miners trying to mine crypto. They often have to disable their security to run the mining operations and let unvetted codes run on their machines, which could skim their profits or plant ransomware. Earnings are usually stored directly on the hard drives of the miners, and their digital wallets have the potential to be lost.

“With Norton Crypto, our customers can mine for cryptocurrency with just a few clicks, avoiding many barriers to entry in the cryptocurrency ecosystem,” NortonLifeLock Chief Product Officer Gagan Singh said in the release.

In other news, Paloma Pay, which has developed a simple crypto platform allowing cannabis businesses to accept cryptocurrency from customers, has begun to see more investors as more crypto is adopted around the globe, according to a press release.

“We are pleased to have recently received an initial commitment of investment funds from a strategic investor, allowing us to accelerate our crypto-project development roadmap, which includes a soon-to-be launched B2B cannabis payments solution that enables medical marijuana dispensaries to purchase inventory, integration with point-of-sale systems and providing access to FinTech services for merchants,” said Paloma Pay Co-Founder and CEO Ally Medina in the release.

The solution will help Paloma Pay reach its goal of helping any retail business customer support consumers who pay with crypto, the release stated.

Meanwhile, the U.K.’s Financial Conduct Authority (FCA) is extending the end date for the Temporary Registration Regime (TRR) for cryptoasset businesses, stretching it from July 9 through March 31, 2022, according to a press release.

The TRR, established last year, allowed cryptoasset firms that applied for registration prior to Dec. 16 to continue trading, the release stated. There are a large number of businesses not meeting the required standard under the money laundering regulations, which has led to an unusually high number of companies withdrawing their applications.

With the extended date, cryptoasset firms can keep doing business while the FCA continues to monitor the field, according to the release.

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