Monthly Archives

September 2019

Bittrex Announces New Trading Platform Based in Liechtenstein

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Cryptocurrency trading platform Bittrex has announced Bittrex Global, a new platform headquartered in Liechtenstein. Bittrex is expecting to roll out Bittrex Global at the end of October in the city of Vaduz, Liechtenstein. A fundamental reason for Bittrex’s choice to set up a new trading platform in Liechtenstein is the country’s regulatory clarity toward digital currencies and blockchain technology. New products in accordance with European Union law Bittrex Global is planning to develop new features and products, including customer reward programs, credit card interoperability, private token sales under EU law and a mobile app for trading cryptocurrencies. Following its launch,

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Launch of Binance US Can Have Far-Reaching Effects on Crypto Market

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From the outside looking in, the United States seems to present a host of amazing financial opportunities. However, when it comes to launching cryptocurrency exchanges or altcoin trading platforms, these possibilities start to dwindle and fade quite rapidly. In this regard, over the past few years, the U.S. regulatory landscape has seemed so hostile toward the crypto industry that a number of prominent exchange operators have preferred not to serve U.S. citizens at all — a case in point being Bancor, a decentralized liquidity network, that recently decided to block American citizens from using its website to convert its tokens.

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BitPay Undergoes Security and Confidentiality Certification Audit

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Major cryptocurrency payment services provider BitPay has undergone a security and confidentiality compliance review, the Service Organization Control 2 (SOC 2). Per a Sept. 30 press release, business advisory company Aprio confirmed BitPay’s compliance with the SOC 2, a tech audit and a requirement for technology companies that assures that customers’ personal data is kept secure and confidential. Passing an SOC 2 review means that the firm has met criteria set by the American Institute of Certified Public Accountants in regard to confidentiality, security, privacy, processing integrity and availability. Commenting on the evaluation, Dan Schroeder, partner-in-charge of information assurance services

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Attorneys Seek Bank of Ireland Execs’ Testimony Against OneCoin Scammer

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Executives at the Bank of Ireland (BOI) could join a trial in the case against Mark Scott, who allegedly helped launder nearly $400 million via cryptocurrency scam scheme OneCoin. Four BOI witnesses to testify remotely On Sept. 29, the government of the United States submitted a court motion seeking the testimony of four witnesses via closed-circuit television from a remote location in Ireland. Initially set for Oct. 7, 2019, the trial has been recently adjourned to Nov. 4, 2019, while a final pretrial conference is scheduled for Oct. 28, as reported by fintech publication FinanceFeeds in early September. All four

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Binance Introduces Its Market Maker Program for High Volume Users

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Major cryptocurrency exchange Binance announced in a blog post published on Sept. 30 that it is launching a market maker program. Per the announcement, users whose monthly trading volumes exceed 1,000 Bitcoins (BTC) — or can reach such volumes — and who also have quality market making strategies can immediately join the program. Binance explains that the aim of the initiative is to bring more liquidity to the exchange. A bid for more liquidity The firm notes that the program is limited to the spot markets of the trading platform on a “market maker pair list” that will be periodically

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‘I’d Rather Have Bananas’: Tech Billionaire Mark Cuban on Bitcoin

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Billionaire technology investor Mark Cuban said that he would be happier owning bananas than Bitcoin (BTC). Cuban made his remarks in a video Q&A published on YouTube by technology news outlet Wired on Sept. 27. During the Q&A session, he answered to a Twitter user asking why Cuban hates crypto if he is “into providing opportunity for people to grow their net worth.” First, Cuban seemingly suggested that the issue he has with Bitcoin is that its price is determined by the market’s demand for it: “Here’s the thing about crypto, particularly Bitcoin: Bitcoin is worth what somebody will pay

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Coinbase, Kraken to Jointly Define Which Cryptos Are Securities

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Major United States’ crypto firms such as Coinbase and Kraken teamed up to launch a rating system to jointly define which digital assets are securities. Crypto Ratings Council to launch on Sept. 30 In a move to provide more clarity for what tokens can be traded without the supervision of regulators, major U.S.-based exchanges formed the so-called Crypto Ratings Council, the Wall Street Journal (WSJ) reports on Sept. 30. According to the report, other members of the Crypto Ratings Council include Circle Internet Financial, Bittrex, Genesis Global Trading, Grayscale Investments, Anchor Labs and DRW Holdings’ Cumberland unit. The group continues

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Binance Becomes Tron’s Top ‘Super Representative’, Adds TRX Staking Support

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Major cryptocurrency exchange Binance has become the highest-ranked “Super Representative” (SR) in the Tron (TRX) ecosystem. According to Tronscan’s data on Sept. 30, Binance acquired over 12 billion votes for the top-spot ranking. Blockchain community Sesameseed.org is now the second-largest SR, Tron-based BeatzCoin — in third place. Binance announces TRX staking support On Sept. 30, Binance revealed that it would add support for TRX staking starting Oct. 1, with initial estimation of rewards to be calculated through Nov. 1 and subsequently distributed before Nov. 5. The system will then continue on the same basis monthly, per Binance’s website. The development

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Binance.US Opens Account Registration for Puerto Rico Residents

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The United States-based branch of major cryptocurrency exchange Binance, “Binance.US,” opened account registration and verification services for residents of Puerto Rico. According to an official announcement published on Sept. 30, Puerto Rico residents have the same levels of access as U.S. residents from those states already permitted to use the platform. The launch of Binance.US As reported, Binance.US went live on Sept. 24, offering 13 fiat-to-crypto and crypto-to-crypto trading pairs. These include major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and the Tether (USDT) stablecoin. Just as with its U.S. state

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Ripple Acquires Crypto Trading Firm to Expand Into Iceland

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Ripple continues its run of acquisitions, announcing an expansion into Iceland with its acqui-hire of crypto trading firm Algrim in a blog post on Sept. 30. Ripple strengthens European presence The acquisition adds six engineers to Ripple’s ranks. This new team will play an integral role in its On-Demand Liquidity (ODL) program. Per the announcement, Iceland will now serve as one of the company’s engineering hubs, joining London as another European base. Amir Sarhangi, Ripple’s vice president of products, said: “This team hits the ground running as opposed to building out a team that has to gain this knowledge.” Algrim

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