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Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet Services

November 16, 2018 By Mark Lyford Leave a Comment

Japan’s top financial regulator, the Financial Services Agency, has unveiled a plan to regulate cryptocurrency wallet services. The regulator has put forward a number of regulatory measures as well as proposing how to implement them.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

The Plan

The Financial Services Agency (FSA) held its ninth cryptocurrency study group meeting on Monday. According to the agency’s published meeting materials, one of the main topics on the agenda was a plan to regulate crypto wallet services and their providers. Read more...

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New York Department of Financial Services Issues 14th BitLicense

November 15, 2018 By Mark Lyford Leave a Comment

Today, November 14, 2018, the New York State Department of Financial Services (DFS) announced that it has approved the application of NYDIG Execution LLC, a subsidiary of NYDIG LLC, for a virtual currency license and a money transmission license. The approval of this so-called “BitLicense” or “Virtual Currency License” application is the 14th of its kind and is required under New York State law in order for a company to engage in “any Virtual Currency Business Activity.”

Under the BitLicense, NYDIG Execution LLC is allowed to offer secure custody and trade execution services, as well as to operate as a custodian for virtual currencies, including bitcoin, bitcoin cash, ether, ripple and litecoin. Read more...

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Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

November 14, 2018 By Mark Lyford Leave a Comment

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets.

“Our mission is to be the bridge for institutions from traditional finance to enter this innovative asset class,” said Final Frontier co-founder Imraan Moola in a public statement. “Bitfury’s technological expertise, combined with our financial markets know-how and track record will allow us to create unique and differentiated financial products and solutions to service our sophisticated investor base.” Read more...

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NCrypto Networks OU Announces the Launch of NCrypto Platform Services

November 12, 2018 By Mark Lyford Leave a Comment

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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B21 to offer crypto asset investing services to users of Rev Group’s Revollet eWallet

November 4, 2018 By Mark Lyford Leave a Comment

Gibraltar-registered crypto assets-exclusive personal wealth management mobile phone application B21 has teamed up with Rev Group, the maker of the Revollet eWallet; which supports fiat-crypto deposits, withdrawals, exchanges and over-the-counter (OTC) services; to offer the e-wallet users premium a…

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South Korean Court Rules Bank’s Action to End Banking Services to Crypto Exchange Illegal

November 3, 2018 By Mark Lyford Leave a Comment

A court in South Korea has ruled that the decision by a commercial bank to stop offering banking services to a cryptocurrency exchange was unlawful and must therefore be rescinded. According to the Central District Court’s 50th Civil Affairs Division, the move by South Korean commercial bank Nonghyup to cease offering deposit and withdrawal services

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Czech Bank Launches Cryptocurrency-Friendly Services

October 27, 2018 By Mark Lyford Leave a Comment

A commercial bank in the Czech Republic is now offering online services that combine traditional financial features with those for cryptocurrency users. Expobank CZ says its customers will be able to trade cryptocurrencies, invest in startups, and buy precious metals through their accounts.

Also read: Bill Proposes Tax Holiday for Cryptocurrency Businesses in Ukraine

Bank Provides Access to Cryptocurrencies and Crowdfunding

Expobank CZ claims it is the first bank in Europe to offer account holders the opportunity to perform crypto-related transactions alongside traditional banking activities. The new service called Neo is based on the bank’s online platform Expobanking. It gives users full control over their financial activities, including those related to cryptocurrencies, Prague Express reported. Read more...

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Poloniex Revised Terms of Use, Shutters Services in Several Countries

October 25, 2018 By Mark Lyford Leave a Comment

With a revision to the popular exchange’s terms of use, users from a handful of jurisdictions will have their access to Poloniex shuttered.

According to an October 18, 2018, update, “the websites and the services offered by Poloniex (as defined below) are NOT addressed to persons who have their registered office or place of residence in China, Germany, Pakistan, the U.S. states of New Hampshire, New York or Washington, Vietnam or any other Restricted Territories as defined in Section 37.” Read more...

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Japanese Financial Services Authority Approves Self-Regulation for Crypto

October 25, 2018 By Mark Lyford Leave a Comment

Japan’s Financial Services Agency (FSA) has granted self-regulatory status to the country’s cryptocurrency industry, giving the Japan Virtual Currency Exchange Association (JVCEA) authority to oversee the space, according to a Reuters report.

The FSA approval, which was granted on Wednesday, October 24, 2018, gives the association the power to regulate the sector, safeguard customer assets, give operational guidelines, elaborate on anti-money laundering policies and provide necessary compliance guidelines for crypto exchanges in the country.

Reuters quoted an unnamed FSA official who believes the industry would grow faster if it were regulated by the companies that operate in the industry. Read more...

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Regulators Approve Coinbase to Offer Custody Services in New York State

October 24, 2018 By Mark Lyford Leave a Comment

Coinbase has secured approval from New York state regulators to act “as a limited purpose trust company” in the state, a press release reveals.

According to the release, the New York Department of Financial Services (DFS) has officially signed off on an application for the Coinbase Custody Trust Company, a subsidiary of Coinbase Global, Inc. With the approval, Coinbase is now authorized to provide custody services in the state of New York for bitcoin, ethereum, bitcoin cash, litecoin, ethereum classic and XRP, the last of which is the only cryptocurrency not yet listed on Coinbase’s platforms. Read more...

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Orvium becomes Standard Technology Partner of Amazon Web Services Partner Network

October 22, 2018 By Mark Lyford Leave a Comment

Tallinn, Estonia-headquartered Orvium, the first decentralized social platform for scientific publications management, funding and collaboration based on Artificial Intelligence (AI) and blockchain announced in a press release CoinReport received from Wachsman, Orvium’s PR firm, that it has been rec…

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Fidelity Launches Trading Services

October 21, 2018 By Mark Lyford Leave a Comment

One of the leading financial services corporations, Fidelity Investments has recently announced the launch of their new company dedicated for providing digital currency services including custody and trade execution. The services will be available for institutional investors such as hedge funds, market intermediaries and family offices.

It was announced on Monday that the launch of the new company will be named Fidelity Digital Asset Services LLC. The business went on to say:

“The company will offer enterprise-quality custody and trade execution services for digital assets, commonly referred to as cryptocurrencies, to sophisticated institutional investors such as hedge funds, family offices and market intermediaries.” Read more...

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CrowdForce: Empowering Financial Services With Blockchain

October 3, 2018 By Mark Lyford Leave a Comment

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ARCHOS Unveils the Safe-T Touch the First Hardware Wallet for Crypto-Assets Embedding a Secured Services Platform

September 28, 2018 By Mark Lyford Leave a Comment

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Tech Bureau’s Zaif Issued A Hard Warning By Japan’s Financial Services Agency

September 25, 2018 By Mark Lyford Leave a Comment

Tech Bureau, the company behind recently hacked cryptocurrency exchange Zaif have been issued a third (and probably final) warning by the Japanese Financial Services Agency (FSA). The warning has come in the form of a Business Improvement Order, one that stipulates certain improvements that must be made to a financial based business otherwise they risk having their license to trade revoked.

Zaif fell victim to a $ 60 million hack

On the 14th of September, Zaif became the latest victim of crypto crime, with $ 60 million worth of Bitcoin, Bitcoin Cash and Monacoin stolen. Read more...

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Limited Services In Korean Banks For Crypto Investors

September 11, 2018 By Mark Lyford Leave a Comment

Seven months ago, the government in Korea brought in a new ‘crypto real-name system’ however, there is only up to 50% of accounts that have been converted into real-name ones, even in the top four cryptocurrency exchanges for Korea. South Korean banks are taking action against customers which don’t use the real name system, which will limit their services.

As aforementioned, it has been seven months since the government brought in the real name system for crypto exchanges in South Korea.

Continue reading Limited Services In Korean Banks For Crypto Investors at Crypto Daily™.

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Covered: Llyod’s of London is Insuring a Crypto Custody Services Firm

September 2, 2018 By Mark Lyford Leave a Comment

HODLers who use the services of Kingdom Trust are now bound to sleep a little more soundly. This is after the Murray, Kentucky-based cryptocurrency custody firm announced that it had obtained insurance coverage for the digital assets it holds via the marketplace of Lloyd’s of London. Currently, Kingdom Trust boasts of US$ 12 billion of assets

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4 Services That Ripple XRP & Stellar XLM Can Improve

August 27, 2018 By Mark Lyford Leave a Comment

Ripple XRP and Stellar XLM are currency exchange and remittance networks. By using a common ledger that is managed by an independent network of validation servers that constantly check transaction records, these exchanges don’t rely on the heavy computer processing power and energy that systems like Bitcoin do. Ripple XRP uses a using a HashTree system, whereas Stellar XLM works on the blockchain system. As such, they have the potential to significantly improve a number of services:

Continue reading 4 Services That Ripple XRP & Stellar XLM Can Improve at Crypto Daily™.

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U.S. Crypto Investment Firm Attracts $22M in Series A, Looks to Expand Services

August 17, 2018 By Mark Lyford Leave a Comment

Los Angeles-based cryptocurrency investment firm SFOX has raked in roughly $ 22.7 million in its Series A funding. The round was headed by venture platforms Social Capital and Tribe Capital and earned the participation of other firms like DCG, SV Angel, Blockchain Capital and Y Combinator.

SFOX caters specifically to professional traders, high net-worth individuals and institutions. As a prime dealer for cryptocurrency markets, the company provides access to global sources of trading and liquidity, real-time trading APIs, OTC desks and U2F hardware for private key management. The company’s transaction volume exceeds $ 9 billion, and its client base has grown 12-fold since January. Read more...

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