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With cyberattacks on the rise, Gibraltar Blockchain Exchange (GBX) has announced an insurance policy to cover its digital assets in partnership with Gibraltar-based Callaghan Insurance. Cryptocurrencies held in both the hot and cold wallets of the trading platform will be insured.
Cyber Insurance for Cryptocurrencies
“We are delighted to announce the introduction of insurance coverage … this represents an important step in attracting users who require strict assurances around the security of their assets,” Nick Cowan, chief executive officer of GBX, said in a statement on Dec. 10.
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In recent exchange news, the Mt. Gox trustee will seek to extend the deadline for rehabilitation claims. In other news, Gibraltar Stock exchange has become the first national stock exchange to operate a regulated virtual currency exchange, and Okex has denied accusations of market manipulation relating to its recent short-notice settlement of BCH futures contracts.
Mt. Gox Trustee Moves to Extend Rehabilitation Claims Deadline to Dec. 26
Nobuaki Kobayashi, the trustee of defunct cryptocurrency exchange Mt. Gox, will seek to request an extension on its deadline for the filing of civil rehabilitation claims.
The Gibraltar Blockchain Exchange (GBX) has been granted a license from the Gibraltar Financial Services Commission (GFSC) required to operate a regulated blockchain exchange.
The exchange was granted the Distributed Ledger Technology License Category 3, which represents the “highest category that can be awarded” within the DLT regulatory framework by the GFSC.
“Securing authorization as a DLT provider here in Gibraltar is affirmation of our tireless efforts to position the GBX among the premiere Digital Asset Exchanges globally. Today’s announcement renews our ambition to create a world leading, institutional-grade token sale platform and Digital Asset Exchange,” Nick Cowan, CEO of the GBX, said in a statement.
In Friday’s edition of The Daily, we look at Bitsane’s decision to list tether (USDT) and trade it against the euro. We also cover two other recent announcements in the crypto-space. Digital asset trading platform Covesting is launching operations in Gibraltar, where it has obtained a distributed ledger technology license. And Swissone, a Zug-based digital asset management company, is establishing a regulated tokenized fund.
Also read: Coinbase Blesses Binance, Game Day for BCH
In recent news pertaining to cryptocurrency exchanges, DDM Bitcoin has launched biometric authentication for Android users of its app, Fxcoin has hired former Deutsche Bank AG employee, Yasuo Matsuda, as a senior strategist, and Ironfx has estimated the company’s upcoming virtual currency exchange will launch during the fourth quarter of 2018.
DDM Bitcoin Adds Biometric Authentication for Android Users
DMM Bitcoin, the cryptocurrency exchange operated by Japanese e-commerce and entertainment conglomerate, DMM Group, has launched biometric authentication for Android users of the company’s app.
A recent study indicates that the blockchain craze isn’t dying out yet. Buoyed by its findings, media and experts in India have commented that the country can become one of the leaders in the field. Also in The Daily, an Australian university now offers an online blockchain programming course, Russia has announced a plan to create a blockchain cluster in Chechnya, and UK-based crypto exchange Coinfloor has been granted a DLT license in Gibraltar.
Gibraltar just scored a major unexpected goal in the great tournament to be known as the most Bitcoin-friendly jurisdiction in Europe. A local football team made international sports headlines for deciding to pay its players with cryptocurrency.
Gibraltar United to Pay Its Players in Cryptocurrency
Gibraltar United F.C., a team founded in 1943 and currently playing in the Gibraltar Football League’s Premier Division, has decided to introduce cryptocurrency salary payments for its players. The club reportedly secured a sponsorship partnership with the help of the owner, Pablo Dana, an investor in the Quantocoin ICO. Dana told the UK’s Guardian newspaper that all player contracts will include payment agreements in cryptocurrency by next season.
A professional football team from Gibraltar is set to become the very first one in the world to partially pay its players with cryptocurrency. The move was announced by Pablo Dana – the owner of the club. The changes are to come in effect from the next season.
Gibraltar United: Cryptocurrency and Football
Gibraltar United, a football team playing in Gibraltar’s semi-professional Premier Division, is to become the very first one to partially pay its players with cryptocurrency. While it may seem like a fairly odd entry point to the idea of cryptocurrencies, the country’s finance sector is among the leaders when it comes to blockchain technology.
The Gibraltar Blockchain Exchange (GBX), which aims to position itself as a world-leading institutional-grade token sale platform and Digital Asset Exchange, has undergone its official full-scale launch. The newly launched exchange is now open to members of the public and will feature fiat on-boarding for customers, as well as a number of trading pairs, which it is set to expand in the future.
On a recent business visit to Gibraltar, members of the executive team of CoinDash Limited, operator of the Blox.io platform, were invited to meet with Albert Isola, Minister for Commerce HM Government of Gibraltar. The firm are applicants under the DLT Regulatory Framework which came into effect in January 2018. The visit included meetings with advisors and the Gibraltar Financial Services Commission, an integral part of the licensing process which is at an advanced stage, and allowing the GFSC to meet with applicants and their advisors personally. CoinDash CEO Alon Muroch also delivered a training seminar to members of GFIA entitled ‘Managing, Pricing and Tracking Cryptocurrency Portfolios’.
A new crypto trading platform providing services to institutional investors has made a soft launch in Europe. The Gibraltar Blockchain Exchange (GBX) has introduced 300 retail account holders and a select number of institutional participants to its platform. GBX, a subsidiary of the Gibraltar Stock Exchange (GSX), aims to become one of the first licensed and regulated digital asset exchanges operated by an EU regulated stock exchange.
The Government of Gibraltar (HMGoG) and the Gibraltar Financial Services Commission (GFSC) are developing legislation relating to tokenised digital assets (tokens), essentially those created and traded using distributed ledger technology (DLT). Following the GFSC’s Statement on Initial Coin Offerings in September 2017, Gibraltar’s Minister for Commerce, Hon. Albert Isola MP, announced that the Government’s position on initial token offerings would be formulated by this month. In December, HMGoG sought the views of local stakeholders through a discussion paper on token regulation circulated to Gibraltar’s Finance Centre Council, an umbrella organisation comprising local professional associations.