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Crypto Exchange for Institutional Traders Launches in Gibraltar

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Crypto Exchange for Institutional Traders Launches in Gibraltar

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.

Also read: British Bank Says “No” to Crypto Firms from Gibraltar  Read more...

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Bithumb to Lower Withdrawal Limit for Crypto Traders Not Using Real-Name System

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Bithumb to Lower Withdrawal Limit for Crypto Traders Not Using Real-Name System

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has reportedly announced that it will gradually lower the withdrawal limit for any accounts that have not been converted to real-name ones, citing risks of financial crimes.

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

Lowering Withdrawal Limit

Bithumb reportedly said on Monday that it has “decided to gradually reduce the withdrawal limit for customer accounts that have not converted to real-name confirmation accounts,” starting on June 4, according to MTN. This announcement closely follows the exchange confirming that it will block trading in 11 countries including North Korea, Iran, and Iraq, as well as strengthening the account verification process for foreign users.  Read more...

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Bogs and Wojaks: How Crypto Memes Help Traders Deal with the Downturn

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Bogs and Wojaks: How Crypto Memes Help Traders Deal with the Downturn

The altcoin markets might be in freefall, ICOs dead in the water, and bitcoin nursing a fixed scowl, but you wouldn’t know it on crypto Twitter. Over the past 48 hours, its leading lights have been more preoccupied with having their profile pics “bogged” than posting charts. The Bogdanoff twins are one of the many memes to have taken over the crypto community, providing welcome relief amidst the growing gloom.

Also read: BTCC to Launch New Exchange Platform in June  Read more...

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331 High-Income Traders Declared Crypto Profits in Japan

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331 High-Income Traders Declared Crypto Profits in Japan

The Japanese tax authority has for the first time revealed the number of high-income taxpayers who declared cryptocurrency profits in the year 2017. Out of the total number of taxpayers with miscellaneous income of 100 million yen or more, excluding public pension, 60% of them reported income from crypto transactions.

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

Declaring Crypto Income

The Japanese National Tax Agency announced on Friday the number of people with 100 million yen (~US$ 914,000) or more miscellaneous income that includes income from cryptocurrency transactions, according to local media. Nikkei elaborated:  Read more...

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Bitcoin Dips Below $9000 As Upbit Investigation Worries Korean Traders

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Bitcoin prices dropped May 11th after regulators investigated South Korea’s largest cryptocurrency exchange, Upbit, panicking users.

Upbit ‘Deceiving Customers’: Reports

According to local news media outlet Chosun, authorities suspect Upbit of faking data about its balance sheet and “deceiving customers.”

Users holding funds on the exchange then withdraw en masse, as shown by data uploaded to social media, causing volatility across Bitcoin markets and prices to sink below $ 9000.

As Chosun reports, a group of ten investigators from South Korea’s Financial Supervisory Service arrived at Upbit’s head office in Seoul Friday.  Read more...

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Bitcoin in Brief Thursday: Bitgrail and Btcxchange Crypto Traders in Troubled Waters

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Bitcoin in Brief Thursday: Crypto Traders in Troubled Waters

In today’s Bitcoin in Brief – crypto traders are in trouble due to issues with the trading platforms they have trusted. Hacked Italian Bitgrail exchange is closed again after a brief reopening. It suspended operations on request from the court of Florence, following a petition  filed on behalf of one of its creditors. Also, beleaguered Romanian Btcxchange has shut down after multiple setbacks. A local bank recently closed its account.

Also read: Bitcoin in Brief Wednesday: Hacker Gets Trolled, Vertcoin Gets Hacked  Read more...

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Robinhood’s First Tentative Steps Into Cryptocurrencies Appeal to Traders

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Robinhood’s First Tentative Steps Into Crypto Trading Appeal to Millennials

The Robinhood mobile app for smartphones, operated by a financial services firm  headquartered in Palo Alto, allows individuals to invest in publicly traded companies and exchange-traded funds listed on U.S. stock exchanges without paying a commission. Earlier this year, the company announced that it was branching into cryptocurrency trading with Robinhood Crypto.

The Robinhood business model is based on collecting interest on the cash and securities in Robinhood accounts, much like a bank collects interest on cash deposits, rather than charging traders with commissions. Besides that, Robinhood sells premium “Robinhood Gold” accounts priced at $ 6 per month, with extra features such as the possibility to trade after hours and borrow capital.  Read more...

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EOS Price Surpasses $5.75 Thanks to Bullish South Korean Traders

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eos logo

Things are still looking pretty solid for most cryptocurrency markets as of right now. Especially the EOS price is noting some major gains over the past 24 hours. After being called out by John Oliver a while ago, the currency is now back above a value of $ 5.75. A pretty interesting trend, although sustaining it will be a major challenge for any coin, especially EOS.  Read more...

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Bots Blamed for Binance Bug That Leaves Traders Reeling

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Bots Blamed for Binance Bug That Leaves Traders Counting the Cost

Binance has found itself at the center of an unusual trading bug that has created big winners and losers. In a matter of minutes, viacoin pumped by 70x. Just to compound the drama, bitcoin experienced a massive sell-off shortly afterwards following bearish news from the SEC. Binance suspended withdrawals while it investigated the matter, but these have since been reactivated. Wednesday March 7 will go down as a memorable day in the exchange’s short history, but one with a happy ending. 

Also read: Bittrex Adds Tether Competitor TrueUSD as Regulation Rumors Persist  Read more...

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Aussie Crypto Traders Expect Tax Crackdown Ahead of New Regulations

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With Australia set to introduce new legislation that will empower authorities to monitor and regulate the activities of cryptocurrency traders, many analysts are anticipating that the country’s bitcoin investors will face a crackdown from the the country’s tax office.

Also Read:Australian High School to Host Information Night on Cryptocurrencies 

Australia to Expand Regulatory Domain Over Cryptocurrency Traders

Australia’s new cryptocurrency regulations will see anti-money laundering legislation extended in order to greater encompass the challenges posed by virtual currencies. Analysts are expecting that the Australian Tax Office (ATO) will launch a crackdown on Australian cryptocurrency traders once the new rules are in effect.  Read more...

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