Binance, the world’s largest cryptocurrency platforms by trading volume, will start a crypto fiat exchange testing in Singapore. This was revealed by the Binance Co-founder and CEO ChangPeng Zhao, during a blockchain conference in Singapore. He later confirmed the plans through an official tweet post. It can therefore be assumed that before the end of the year, Binance would offer support for the Singapore Dollar (SGD) including alternatives like SGD/BTC and SGD/ETH pairs. For now, the SGD pairs will only be available in closed Beta, since the beta testing will be through invitation only.
Financial services giant Fidelity Investments recently detailed plans to pursue blockchain and cryptocurrency-related services, with a goal to release a product as soon as this year. During an event at the company’s Boston headquarters last Friday, Fidelity CEO Abigail Johnson specified, “We’ve got a few things underway, a few things that are partially done but […]
In the second major hack of a Japanese cryptocurrency exchange this year, some 6.7 billion yen ($ 60 million) in cryptocurrencies were stolen from the wallets of Zaif of which 4.5 billion yen ($ 40 million) belonged to customers. Tech Bureau, operator of cryptocurrency exchange Zaif, confirmed the hack occurred between 1700 and 1900 local time on
The post Licensed Crypto Exchange Zaif Plans Compensation after 6,000 Bitcoins, $ 60 Million Crypto Theft appeared first on CCN
A new report drafted by the New York attorney general’s office (OAG) alleges that a significant number of cryptocurrency exchanges may be vulnerable to market manipulation, a finding that could prove ominous for hopes among investors that federal regulators will approve a bitcoin ETF or other exchange-traded crypto products in the near-term. 3 CME-Partnered Exchanges
The post NY Crypto Exchange Report Bearish for Bitcoin ETF Plans appeared first on CCN
The European Central Bank has no intentions of issuing a central bank digital currency. According to its president Mario Draghi, the current economic conditions fail to justify a need for it.
Cash Remains King
Speaking in front of the European Parliament, the president of the European Central Bank Mario Draghi touched on the matter of cryptocurrencies and whether or not the European Union needs a central bank digital currency.
He outlined a few reasons for why the ECB “has no plans” to issue a unified digital currency.
Bitsy, a portfolio company of Overstock.com’s blockchain venture capital firm, Medici Ventures, announced last week that it has launched a limited beta version of its digital wallet service that offers a simple way to purchase cryptocurrency directly with fiat. As @nikhileshde reports, #portco @Bitsy_inc's new #crypto wallet will provide a simplified and user-friendly experience. https://t.co/wmlycG3w6c — […]
Two US-based crypto behemoths, Coinbase and BitGo, will continue to facilitate growing demand for Bitcoin from institutional investors by operating as trusted custodians. Earlier this week, BitGo was approved by South Dakota regulators to create and operate a crypto custody solution, while Coinbase established a new office in New York exclusively to handle institutional demand
The post Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto appeared first on CCN
Crypto exchange Huobi is entering the Japanese market by acquiring a majority stake in one of the 16 government-approved crypto exchanges in the country. The company says it plans to “aggressively scale this trading platform into the largest in Japan,” with an eye on global expansion in the future.
Huobi Entering Japanese Market
Huobi is expanding into the Japanese market by acquiring a majority stake in Bittrade, a Japanese government-approved crypto exchange.
Binance Labs Director Benjamin Rameau has stated that Africa is front and center of the company’s expansion strategy as it bets on a vision of the 21st century driven by the world’s youngest population gaining increased access to technology and opportunities. In June, CCN reported that Binance began actualizing its African expansion strategy when it
The post Crypto Exchange Giant Binance Outlines Plans to Expand in Africa appeared first on CCN
Goldman Sachs is struggling to find a way to trade bitcoin.
The financial services giant has scratched its plans to open a desk for trading cryptocurrencies, at least for the near term, according to a Business Insider report on September 5, 2018.
Cryptocurrency markets seemed to respond negatively to the news. Bitcoin dropped roughly 5 percent, falling below $ 7,000. The rest of the top five cryptocurrencies by market cap toppled by more than 12 percent.
Rumors of Goldman setting up a crypto trading desk to make markets in digital currencies, such as bitcoin, have been circulating since December 2017.
Major Wall Street investment bank, Goldman Sachs has finally made known its stance on opening a cryptocurrency trading desk. The bank clarifies that such plans are not a priority for the foreseeable future, but rather it will be focusing its energy on a custody product for crypto that would better service large institutional clients. Strong
The post Goldman Sachs is Abandoning Plans for a Bitcoin Trading Desk, For Now appeared first on CCN
Thailand’s anti-money laundering agency is considering sealing a loophole that has seen cybercriminals face every other consequence for their actions except have their digital assets confiscated. According to the secretary of Thailand’s Anti-Money Laundering Office (AMLO), Witthaya Neetitham, the government agency is planning on setting up its own cryptocurrency wallet for the purposes of tackling
The post Thailand AML Watchdog Plans to Seize Bitcoin from Criminal Proceeds appeared first on CCN
Bittrex, the thirty-sixth largest crypto exchange by trading volume, announced this week that it will be adding US Dollar trading pairs for two more popular altcoins: Cardano (ADA) and Zcash (ZEC). We’re rolling out more USD pairs. On Sep 5 we’re launching US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC). Eligible #Bittrex accounts created before August […]
Nasdaq (NDAQ), the second-largest stock exchange in the world by total capitalization, is reportedly planning on listing multiple cryptocurrencies as early as 2019. According to a breaking report by The ICO Journal, which cites a “trusted Nasdaq source” familiar with the matter, the financial giant is making a concerted effort to push forward listings of many notable […]
Let’s face it, in all its democracy, the blockchain does give authorities the power to abuse its technology in order to turn a dystopian projection such as George Orwell’s Nineteen Eighty-Four into a dark and realistic prospect. And it looks like the UK government are wanting to just that.
Take the ‘Big Brother’ theory, and add the blockchain, The Big Blockchains Watching You.
To quote Orwell in the famous Nineteen Eighty-Four:
“The Brotherhood cannot be wiped out because it is not an organization in the ordinary sense.
Matt Liu, Josh Fraser and former PayPal head Yu Pan want to bring the blockchain to the sharing economy. The trio is devising a platform with an emphasis on inclusive, peer-to-peer service hubs designed to decentralize the same consumer cost-friendly business models that have made companies like Airbnb, Uber and Lyft so popular in recent years.
A sleepy Texas town is set to reinvigorate the local economy thanks to a multimillion-dollar project to build a cryptocurrency mining and data center in place of a recently closed coal fire power plant.
Bitmain Goes West
Who would have imagined that cryptocurrency mining would be the key to making a former coal mining town in America great again?
That’s exactly what is happening in Rockdale, Texas, a small Central Texas town of 5,861 that has endured economic troubles since the last coal-fired power plant and mine closed in January 2018.
The South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies.
Stripping Away Tax Benefits
The South Korean government has announced its proposed Revised Tax Law 2018. In the official statement published Monday, the government wrote, “from next year, virtual currency handling businesses will be excluded from the industries eligible for the tax reduction for SMEs [small and medium-sized enterprises].”
Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea.
Per the report, Binance CEO Changpeng Zhao hinted at his company’s expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.
While South Korea is presumed to be the third-largest crypto market after the U.S. and Japan, it hasn’t been a smooth ride for the cryptocurrency exchanges operating there. Bithumb and Coinrail were hacked earlier this year, while tax authorities have raided Coinone on tax evasion allegations.
SIX, the firm that operates and owns the Swiss stock exchange, has announced plans to launch a fully regulated digital cryptocurrency exchange.
The firm says it plans to launch “the first market infrastructure in the world” which will “offer a fully integrated end-to-end trading” while providing a safe environment where digital assets can be issued and existing securities and non-bankable assets can be tokenized.
The new crypto exchange will be called SIX Digital Exchange (SDX), and it plans to rollout its services in mid-2019.