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Bitcoin and other cryptocurrencies will dramatically increase the effectiveness of the financial industry. Bitcoin is an efficient alternative in countries with unstable economies, according to a study recently published by Infiniti Research.
Cryptocurrencies Impact the Financial Industry
The rate at which research reports about Bitcoin 00 and other cryptocurrencies are being published is increasing. The latest piece of research comes from Infiniti Research, a provider of market intelligence, entitled “Top 4 Types of Digital Currency and Their Impact on The Financial Industry.”
New York Stock Exchange operator Intercontinental Exchange (ICE) has revealed it plans to launch a global digital asset platform in November as a “scalable on-ramp” for investors.
ICE To Build ‘Scalable On-Ramp’
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility,” Kelly Loeffler, CEO of Bakkt explained.
Blockchain technology has grabbed the interest of investors globally as it has quickly grown into one of the most exciting areas due to its wide variety of application across industries. This is why Reality Shares, an asset management firm, is launching China’s first blockchain ETF, which gives investors access to Chinese companies at the forefront of the blockchain revolution.
According to the company, the Reality Shares Nasdaq NexGen Economy China ETF (Nasdaq: BCNA), which tracks the Reality Shares Index, will focus on China-based companies that are fully invested in blockchain technologies. Created as a joint partnership between Reality Shares and Nasdaq in January, the fund will “identify and invest” in such companies that are applying blockchain technology as the “first native digital medium of value.”
South Korea’s Supreme Court just ruled that bitcoin is a legally recognizable asset. The landmark ruling occurred on May 30, 2018, and it overturns a decision made by one of the country’s lower courts in a case dating back to last year.
In September 2017, the Suwon District Court charged 33-year-old Ahn with the sale and distribution of child pornography. Operating a website since 2013, Ahn was arrested in May of 2017 for disseminating some 235,000 obscene files. Even though the court handed Ahn a guilty verdict and 18 months in prison for his actions, it did not confiscate the 216 bitcoins Ahn accumulated in exchange for the porn.
On the subject of Bitcoin’s viability, there seem to only two conclusions. Either the number one crypto is either here to stay or it is just a fad. Thus, whether you support the “bubble” argument, the “currency of the future” notion or any other position, it all inevitably leads to the “boom or bust” conclusion or at least, so says Grayscale Investments managing director Michael Sonnenshein.
Two Mutually Exclusive Bitcoin Future Outcomes
According to Sonnenshein, there is no middle ground as far as Bitcoin is concerned. Speaking during a recent interview with Fortune, the cryptoanalyst said:
On May 4, 2018, at EDCON in Toronto, Canada, the Huobi Group announced its plans to expand to the Canadian market with a fully operational office in Toronto by the end of the year. This expansion marks the blockchain asset company’s second move into North America this year after setting up operations in San Francisco, and it comes just weeks after Huobi announced it would be opening European operations with an office in London, as well.
Genesis Vision launched the alpha version of its GV platform where users are already able to make transactions with crypto and traditional currencies, CFDs, metals, and commodities, join the brokers’ community, and choose the role of manager, investor or broker of Genesis Vision system. The required cooperation agreements with brokers are already signed.
Moreover, the Genesis Vision managers will be able to trade using the top-notch trading services provided by a fully licensed and heavily regulated global broker with offices in USA, Europe, Russia, China, Mexico, and India – Just2Trade (trademark in Russia – Finam).
With dozens of stories coming out in recent weeks about exchanges getting hacked or losing user funds, many are looking for another place to trade their coins. Exenium is offering the most secure and intuitive cryptocurrency trading experience in the space.
Big Exchanges Taking Flak from the Community
The growing mainstream interest in cryptocurrency over the past few months brought millions of new users into the space, with most signing up on just a few of the available exchanges. Faced with record new user registrations and unprecedented trade volume, many exchanges were forced to halt trading to recover from the waves of newbies. Understandably, huge swaths of users were upset that they were unable to take advantage of changing market conditions.
Today, March 22, 2018, at the government’s second International Fintech Conference, Exchequer Chancellor Philip Hammond announced the launch of a Fintech Sector Strategy that looks to keep the U.K. on the forefront of the industry.
The primary component of this new strategy will be the introduction of a Crypto Assets Task Force composed of representatives from the Bank of England (BOE), HM Treasury and the Financial Conduct Authority (FCA). The purpose of this team will be twofold: promote the U.K.’s position as a leader in the emerging world of digital currency, while concurrently establishing the infrastructure needed to monitor the “potential risks” associated with the crypto space.
As opinions differ on the actual definition of cryptocurrencies, the US state of Wyoming has gone ahead and passed a bill referring to crypto utility tokens as a new asset class.
Developing regulations seems to be at the top of the US government’s crypto to-do list, but one thing seems to be putting a spanner in the works, and that is finding a definition for the term itself.
The Securities and Exchange Commission (SEC) refers to them as securities, but the Commodity Futures Trading Commission (CFTC) defines cryptocurrencies as commodities, a sentiment seemingly echoed by New York district judge Jack Weinstein.
Since the first diamond was excavated from the ground, the diamond industry has been shrouded in mystery. Only professionals know the actual value of a given stone, and it’s extremely difficult to successfully purchase or sell diamonds at their legitimate market value. CEDEX adds much-needed transparency to the traditional diamond industry.
Turning an Opaque Industry Transparent
CEDEX is engineering a revolution in the diamond industry by allowing the precious stones to be traded just like any other financial asset. Thanks to the transparency and security of a blockchain-based exchange, CEDEX affords individuals the ability to buy and sell diamonds with ease – thus providing some much-needed transparency to an industry traditionally shrouded in mystery. With CEDEX, diamonds are turned into a fungible asset with clearly defined values.
Recently, Bit-Z, a globally digital asset trading platform, has obtained an investment of more than Us $ 10 million from three international investment institutions. The three investors were Hwazing Capital Limited, Wa Sung Investment Limited, and Plum Angel Investment Co., Ltd.
As shown by the online platform, Bit-Z was founded in 2016 and has been a leading digital asset trading platform in trading volume around the world. It is mainly engaged in offering digital asset trading crypto-to-crypto trading service for users in the world. The so-called crypto-to-crypto trading refers to a trading mode in which a blockchain asset is directly used for exchanging another kind of blockchain asset without involving transit or settlement of legal currency in the course.
Crowd Genie, a fully operational Singapore-based peer-to-peer digital lending platform licensed by the Monetary Authority of Singapore (MAS), has been selected by the token holders of the ICOS platform as the latest promising project to hold its own ICO.
Unlike most projects contemplating an ICO, Crowd Genie is not a startup but rather a debt-based lending platform that has been in operation for more than 12 months. It is one of only four P2P lending platforms licensed by the MAS. The project’s vision is to build a tokenized Pan-Asian lending exchange based on smart contracts, to ensure cost-effective, safe and efficient cashflows between lenders and borrowers. The platform will include blockchain-based identity management, 40+ variable KYC due diligence, and a distributed asset exchange.
Tim Berners-Lee, the inventor of the World Wide Web stated: “We need diversity of thought in the world to face the new challenges”.
Zabercoin is an asset-backed cryptocurrency. Therefore, with Zabercoin we combine the blockchain technology with physical asset investments like real estate and lucrative companies more specifically located in emerging markets (EM) with recurring income re-invested to ensure growth, research, and development. Zabercoin limits your exposure to the downside risk of many existing cryptocurrencies. Zabercoin has a floor price right from the time of its inception. Each Zabercoin is backed by lucrative property and therefore we can safely state that it will always have a real or intrinsic value that will give peace of mind to the investor and user.
While we have written a lot of articles about GEMS over the past few months, there is still a ton of information that deserve some public attention. As is to be expected with such a major project, there are all kinds of questions popping up which could be relevant to some people out there. Let’s take a look at some of the most recently answered questions which piqued my interest.