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| February 21, 2019

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Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 

February 15, 2019 |

Bitcoin Cash Focused Ifwallet Implements Cash Accounts Name System 

Last month, on the 10th anniversary of the Bitcoin genesis block, Bitcoin Cash (BCH) developer Jonathan Silverblood launched his Cashaccount.info platform. The Cash Accounts platform allows users to tether human-readable names to BCH addresses in order to make payments easier. Now the Chinese BCH light client Ifwallet has become the first public wallet with Cash Accounts sending support.

Also Read: Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations

Ifwallet and Cash Accounts

Bitcoin addresses are long strings of numbers and letters, a format that to some users can be nerve-racking and cumbersome. Over the last few months, BCH software programmer Jonathan Silverblood has been working on a project that helps bypass some of the friction associated with BCH addresses. He’s created Cashaccount.info, a platform that allows users to register a one-time human-readable name that is tied to a BCH public address. News.Bitcoin.com tested the application on January 2, the day before the official launch on Bitcoin’s 10th birthday. The platform hashes a name into the BCH blockchain by using an OP return transaction and after the transaction is registered into a block the name will be validated.

Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 
Ifwallet becomes the first public BCH wallet to integrate the Cash Accounts system.

When Silverblood first launched the project he also mentioned that he had been reaching out to wallet developers so they could possibly support Cash Accounts in the future. The Cashaccount.info website shows that the programmer has discussed the idea with Electron Cash, Edge, BRD, Bitcoin.com, Stash, Ledger Wallet and more. On Feb. 14 the Cash Accounts founder explained that the Chinese cryptocurrency light client Ifwallet has added support for the name address system within the sending interface.

“Congratulations to Ifwallet for releasing the first public wallet with Cash Accounts sending support,” Silverblood stated on Thursday.

The developer continued:

When you go to send you can now type in a Cash Accounts name and if they have compatible payment information in them they will show up in a dropdown list.

Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 
The Cashaccount.info OP return transaction process.

Experimenting With Ifwallet and Cash Accounts

Ifwallet is a cryptocurrency wallet with a focus on bitcoin cash and provides users with a secure asset management tool for token support. The mobile wallet is backed by investors such as Coinex and is partnered with projects like Johnwick.io, Viabtc, BCH Club, and Wormhole. Ifwallet also supports the Wormhole project by implementing WHC integration and incorporating the token factory. Recently the Ifwallet project launched the decentralized applications (dapp) store module and deployed a variety of dapps that can be used with the wallet.

Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 

On Feb. 15, news.Bitcoin.com tested the Ifwallet application and the client’s speed was similar to using the Japanese Yenom wallet. The wallet makes you create a six-digit PIN to access the interface but biometric settings like Apple’s Face ID/Touch ID can also be set up. The wallet doesn’t compel you to back up the wallet’s mnemonic phrase immediately and there is a warning message displayed until this part of the process is complete. I sent 0.00041575 BCH – or a nickel – to the Ifwallet, without realizing there was an identical amount of BSV attached to the BCH. The Ifwallet split the transaction into two and my wallet ended up with 0.00041575 BSV as well.

Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 
Sending a nickel’s worth of BCH to “Jamiecrypto#116” using the Ifwallet on iOS. 

After the transaction confirmed, I simply used Silverblood’s directions and sent money to the Cashaccount.info name “Jamiecrypto#116.” The transaction immediately showed a sent transaction to the Cash Accounts name and the process was much simpler than copy and pasting an alphanumeric string to use as an address. Overall the application worked well and if more wallets integrate this feature it would likely make sending and receiving easier for newcomers. However, some people will definitely take issue with reusing addresses and may not find the Cash Accounts payment system compatible with efforts toward financial privacy.

What do you think about Ifwallet implementing Cash Accounts support? Do you think concepts like Cash Accounts is a good idea? Let us know what you think about this subject in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. This editorial is for informational purposes only.


Image credits: Shutterstock, Ifwallet, Bitcoin.com’s Block Explorer, and Cashaccount.info.


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The post Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System  appeared first on Bitcoin News.

Bitcoin News

Facebook removes bogus accounts it says had ties to state-sponsored Russian news service

January 18, 2019 |

Facebook Inc. said it disrupted two campaigns run by fake accounts with links to Russia and its Sputnik news service as it continues to grapple with misinformation on its platform.

Facebook removed 289 pages and 75 accounts it says were engaged in “inauthentic behavior” and targeted Facebook members…


L.A. Times – Business

How Indian Cryptocurrency Users Avoid Banks Closing Their Accounts

January 16, 2019 |

How Indian Crypto Users Avoid Banks Closing Their Accounts

Banks in India have been closing the accounts of customers they believe have made transactions involving cryptocurrencies. The majority of crypto users in the country, however, have reportedly found a way to avoid their accounts being closed by their banks which are complying with the crypto banking ban imposed by the country’s central bank.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Avoiding Problems With Banks

Reports of banks in India closing customer accounts with cryptocurrency-related transactions have been on the rise. Banks cite compliance with the circular issued by the country’s central bank, the Reserve Bank of India (RBI), that bans them from providing services to customers and businesses dealing with cryptocurrencies.

How Indian Cryptocurrency Users Avoid Banks Closing Their Accounts

A spokesperson for local cryptocurrency exchange Instashift told news.Bitcoin.com that banks have been closing the accounts of customers when they find any cryptocurrency-related words such as “bitcoin” in transaction remarks. He clarified that if a customer’s bank account “comes under scrutiny and the bank officers read the crypto keywords in remarks” then the bank account will be closed.

The CEO of crypto exchange Wazirx, Nischal Shetty, shared with news.Bitcoin.com on Tuesday that the:

Majority of the people understand not to enter such terms in the remarks. So simply avoiding entering anything related to crypto in the payment remarks is more than enough to avoid any problems from banks. There’s no other way for banks to know if a P2P transaction was done to transact in crypto.

Other Indian crypto users agree with this strategy. Twitter user Cryptomaniac advised, “Use P2P without writing anything related to crypto in remarks. And don’t do heavy transactions.” P2P is the exchange-escrowed peer-to-peer style of trading which has been growing in popularity since the RBI ban. Most crypto exchanges in India offer this type of trading. Another Twitter user, Vivekmacha, agreed and wrote that “If we use P2P they can’t track us,” emphasizing the importance of not writing any crypto-related terms such as bitcoin or BTC in remarks when making transactions.

The Instashift spokesperson explained that crypto users that have their bank accounts closed just “open a fresh account in another bank” and continue to trade without “using any crypto terms for transactions,” emphasizing:

It’s easy to open a new account for a person in India & banks also welcome people to open accounts.

He noted that “no matter how many accounts you open, all bank accounts get linked with your PAN card” which he said is similar to the social security number used in the U.S.

More Banks Closing Accounts of Crypto Users

Many banks in India have been closing customer accounts showing evidence of cryptocurrency transactions. Two major banks in the country — Kotak Mahindra Bank and Digibank — have recently gained more attention for doing so when Twitter user Indiancryptogirl posted letters she claimed to have received from them. Digibank is powered by DBS, a major Asian financial services group. “We have observed few transactions in your account with brokers / traders, dealing in virtual currencies,” the letter reads, adding:

Since these types of transactions are not permitted in India, we are constrained to place a credit freeze in your account. Further as per the extant guidelines, we are required to exit such relationships where transactions with brokers / traders, dealing in virtual currencies are observed.

A credit freeze, the bank explained, means that customers “will not be able to deposit any funds” into their accounts. The bank proceeded to inform that “Hence 30 days from the date of this communication your account will be closed by the bank.”

How Indian Cryptocurrency Users Avoid Banks Closing Their Accounts

Kotak Mahindra Bank and Digibank are not the only ones taking a hostile approach toward customer accounts showing crypto transactions. Twitter user Pushpendra Singh wrote, “So many Indian banks doing the same thing,” claiming that one of them is UCO Bank. Another Twitter user, Bluecrypto, said the “same happened with me and my HDFC account got closed.”

Another bank with a similar policy is Standard Chartered bank which requires customers opening an account in India to agree to this statement: “I confirm that this account will not be used for settling transactions or dealing in virtual currencies, including but not limited to bitcoins.”

However, Twitter user Yatharth Vashishth pointed out that banks are only following RBI’s order. “Kotak Bank is acting as per regulations by the RBI. All banks are instructed to shut accounts of all entities dealing in crypto. Not a big deal.”

What do you think of how Indian crypto users respond to banks closing their accounts? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post How Indian Cryptocurrency Users Avoid Banks Closing Their Accounts appeared first on Bitcoin News.

Bitcoin News

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Keep Crypto Exchange Accounts Open

January 5, 2019 |

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange Accounts

Following the ruling by Chile’s supreme court that a bank can legally close accounts of a crypto exchange, the country’s Court of Defense of Free Competition reaffirmed that banks must reopen crypto exchanges’ accounts. The Chilean antitrust court continues to hear the case alleging that banks exploit their dominant position to keep crypto exchanges off the market.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Supreme Court Ruling Inconsequential

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange AccountsChile’s Court of Defense of Free Competition (TDLC) rejected banks’ request on Wednesday to vacate its injunction that forced them to keep accounts of crypto exchanges open. Their request was “based on the ruling of the supreme court, issued in early December, which determined that the closure of an account of [crypto exchange] Orionx by Bancoestado was legal,” La Tercera publication wrote. Dario Financiero news outlet elaborated:

The TDLC noted in its resolution that the ruling of the country’s highest court ‘does not constitute a new precedent that will change the resolution.’

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange AccountsMartín Jofré, the CEO of crypto exchange Criptomkt, commented after the ruling: “For us, it is a success since we need bank accounts to operate in the market. In any case, we always rely on Chilean institutions, especially on the TDLC for its role as defender of free competition.”

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange AccountsCryptocurrency exchanges filed a lawsuit with the TDLC against 10 major banks in Chile last year, accusing them of abusing their dominant position after they unilaterally decided to close their accounts. The TDLC then ordered banks to reopen accounts of the exchanges for the duration of the trial.

Bancoestado and Itau took the case to the country’s supreme court which subsequently ruled that the banks can legally close accounts of a crypto exchange. With the supreme court’s validation, the two banks asked the TDLC to cancel its order for them to reopen accounts of the exchanges.

Sound Judgement

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange Accounts“The resolution of the court [TDLC] seems completely legally sound to us,” lawyer Samuel Cañas, representing local crypto exchange Buda.com, was quoted by Dario Financiero as saying after the TDLC ruled on Wednesday.

Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Reopen Crypto Exchange Accounts“On the other hand, the issuance of judgments such as that of the supreme court” against crypto exchanges “should not have legal relevance on the decisions that the Tribunal [Tribunal de Defensa de la Libre Competencia, TDLC]” makes on the subject of free competition, therefore it should be “inadmissible,” he added.

Mario Bravo, legal advisor to Cryptomkt, said that “the witnesses that we have cited, that is, the finance minister, the economy minister, the president of the central bank, the superintendents of banks, [and] the director of the UAF [Unidad De Analisis Financiero]” will give their testimonies to the TDLC in February. He concluded:

We believe that we will be able to prove that the banks illegitimately expel Buda and Cryptomkt from the market because they are companies that compete with them.

What do you think of the TDLC’s decision? Let us know in the comments section below.


Images courtesy of Shutterstock, TDLC, Cryptomkt, and Buda.com.


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The post Despite Supreme Court Ruling, Chile’s Antitrust Court Orders Banks to Keep Crypto Exchange Accounts Open appeared first on Bitcoin News.

Bitcoin News

Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

December 26, 2018 |

Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

Wealthfront, one of the largest independent robo-advisers in the U.S. market, has added support for Coinbase accounts. The Wealthfront team explained that high customer demand was the reason for incorporating the new feature, stating: “We’re especially excited because this has been one of our clients’ most requested features.”

Also Read: Bitcoin Private (BTCP) Bug Exploited by ‘Bad Actor’

Wealthfront Adds Coinbase Support

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsWealthfront Advisers LLC (formerly known as Wealthfront Inc.) is a Redwood City, California-based robo-adviser providing automated, software-based portfolio management services, which was established in 2008. The company has recently announced that its users can now track holdings of cryptocurrency for the first time by connecting their accounts with the Coinbase exchange to the automated investment service.

“You have always been able to connect a wide variety of account types and asset classes to our Path advice engine — from bank and brokerage accounts to real estate, mortgages, and student loans. But we know many of you like to dabble in other innovative financial products, like cryptocurrencies. So now, we make it possible for you to add information about your cryptocurrency holdings in your Coinbase account to Wealthfront to get a more holistic view of your financial picture. And even more importantly, we factor that information into your free financial plan,” the Wealthfront team stated.

Over $ 11 Billion in Managed Assets

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsThe Wealthfront robo-adviser has over $ 11 billion in client assets under management, according to the U.S. Securities and Exchange Commission (SEC), making it one of the largest independent robo-advisers in the U.S. market. The company has reportedly raised a total funding of $ 65.5 million since its creation, from backers such as Benchmark Capital, DAG Ventures, Index Ventures, Ribbit Capital, Benchmark Capital, Marc Andreessen, Ben Horowitz and Jeff Jordan.

On Friday, the SEC announced it had found that Wealthfront made false statements about a tax-loss harvesting strategy it offered to clients, claiming to monitor accounts for transactions that might trigger a wash sale, but failed to do so. It also found that Wealthfront “improperly re-tweeted prohibited client testimonials, paid bloggers for client referrals without the required disclosure and documentation, and failed to maintain a compliance program reasonably designed to prevent violations of the securities laws.” Without admitting or denying the SEC’s findings, the company agreed to pay a $ 250,000 penalty.

Have you integrated your Coinbase account with Wealthfront? Share your experience in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Bitcoin News

Robinhood says its new checking and savings accounts are insured. SIPC says not quite

December 15, 2018 |

The Securities Investor Protection Corp. said that a new checking account from Robinhood Financial raises red flags and that the deposited funds may not be eligible for protection.

Robinhood, a no-fee stock-trading app, rolled out its take on the traditional bank account Thursday, promising a 3%…


L.A. Times – Business

Bitwala Begins Offering Bank Accounts With Bitcoin Wallet and Debit Card

December 12, 2018 |

Bitwala Begins Providing Bank Accounts With Bitcoin Wallet and Debit Card

Cryptocurrency banking provider Bitwala has started offering its banking service to cryptocurrency users in Germany, starting with 40,000 pre-registered customers. A spokesperson for the company has shared details with news.Bitcoin.com about this new service which will soon add support for additional countries and cryptocurrencies.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

New Banking Service for Crypto Users

Bitwala Begins Providing Bank Accounts With Bitcoin Wallet and Debit CardBitwala announced on Wednesday, Dec. 12, that it has started offering banking service to cryptocurrency users. “New users along with the 40,000 pre-registered customers will be onboarded one after the other based on their waitlist place,” the announcement read.

Bitwala Begins Providing Bank Accounts With Bitcoin Wallet and Debit CardThe bank accounts are hosted by Berlin-based Solarisbank. This Bitwala partner has a banking license, so it is supervised by Bafin and Bundesbank, Germany’s banking authorities.

Roman Kessler, a spokesperson for Bitwala, told news.Bitcoin.com:

For now, only German residents can go through the KYC [know-your-customer] process. Very soon, hopefully already in January, this will be extended to other jurisdictions inside of the EU.

Account opening takes a few minutes, the company noted, adding that customers need an ID to open an account. They must also complete the KYC process which includes video verification. The company also explained that “As with any bank account in Germany, all euro deposits up to €100,000 [~$ 113,274] are protected by the German Deposit Guarantee Scheme (DGS).”

Bitwala Begins Providing Bank Accounts With Bitcoin Wallet and Debit Card

Bank Account With Crypto Support

With the new Bitwala bank accounts, users will receive an Iban and a contactless debit card which will allow them to buy and sell BTC and manage expenses. The Bitwala account comes with a bitcoin wallet. Users can manage both their BTC and euro deposits in one place, the announcement describes.

Bitwala Begins Providing Bank Accounts With Bitcoin Wallet and Debit Card
A Bitwala debit card.

“The new bank account offers users SEPA transactions, easy management of recurring payments, and comes with a debit card for on-the-go payments and ATM cash withdrawals,” Christoph Iwaniez, the company’s chief financial officer, commented. “For instance, customers will be able to use their Bitwala account to receive salary payments and pay their rent. And if you want to trade bitcoin, you can draw liquidity from the same current account.”

Kessler further shared with news.Bitcoin.com:

Only bitcoin [is supported] at the moment. You can access them through a multi-sig wallet to which only you have the private key. Other cryptocurrencies to follow shortly.

He also emphasized that “The online bank account and the [debit] card are free,” but trading between BTC and EUR costs 1 percent. “According to our market research that is 5 percentage points below market average.”

What do you think of Bitwala’s new service? Let us know in the comments section below.


Images courtesy of Shutterstock and Bitwala.


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The post Bitwala Begins Offering Bank Accounts With Bitcoin Wallet and Debit Card appeared first on Bitcoin News.

Bitcoin News

Wirex Introduces Iban for All European Crypto Card Accounts

December 10, 2018 |

Wirex Introduces Iban for All Euro Accounts

Cryptocurrency debit card provider Wirex has introduced Iban support for all EUR accounts in the past few weeks. Users in the European Economic Area (EEA) are now able to fund their accounts by bank transfer and receive euro payments. They can also have their salary deposited directly into their Wirex account.  

Also read: Australian Company Issues Loans Backed by Cryptocurrencies

Iban Added to Wirex Accounts in the EEA

Wirex Introduces Iban for All European Crypto Card AccountsThe U.K.-based fintech startup has rolled out Iban functionality across Europe after a successful pilot in four countries over the last couple of months. In September, the company launched Iban support for accounts opened in Spain and France. Later Italy and Germany were added. U.K.-registered accounts had Iban numbers even earlier. The company also raised the funding limits for account holders in the EEA to £15,000, €16,000 and $ 20,000.

Iban, or international bank account number, is a system of identifying bank accounts that allows international payments. Each Iban is unique and consists of up to 34 alphanumeric characters representing country code, domestic bank account number, branch identifier, and routing information. The Iban also has two check digits which allow the verification of the number and reduce the risk of errors.

Wirex has been a popular choice for cryptocurrency users in Europe since it became the first platform to reintroduce crypto debit cards after they were suspended by Visa last year. Its cards allow users to spend several major cryptocurrencies – bitcoin core (BTC), litecoin (LTC), ethereum (ETH), and ripple (XRP) – in stores and online, anywhere Visa is accepted. That’s possible thanks to instant conversion to three leading fiat currencies – British pound (GBP), euro (EUR) and U.S. dollar (USD). Wirex wallets support all three currencies and can be linked to the Wirex plastic and virtual cards.

Expansion in North America

Wirex Introduces Iban for All European Crypto Card AccountsThe British fintech startup has announced plans to offer its services to customers in North American markets. In August, the company was granted a Fintrac and Money Service Business registration by regulators in Canada, where users can already set up and use Wirex cryptocurrency wallets. The next step is to introduce fiat currency accounts and start issuing contactless crypto debit cards.

Wirex is also preparing to launch in the United States. The company recently posted in its blog that it’s currently looking for beta testers to trial its onboarding process in the U.S. In the announcement, Wirex detailed:

We’ll soon be testing our market-leading offering on American soil for the first time. We’d like to know your thoughts – what you like, what you don’t like and if you detect any bugs that may need our attention before the launch.

Residents of seven pilot states, Nevada, Alaska, Virginia, Tennessee, Massachusetts, Louisiana, and Montana, who have a registered Wirex account have been invited to apply. Wirex will grant approved candidates access to the testing program and they will be able to try its new features before the service is rolled out to the public in the U.S.

What do you think of Wirex adding Iban support for European accounts? Tell us in the comments section below.


Images courtesy of Shutterstock, Smartmockups, Wirex.


Need to calculate your bitcoin holdings? Check our tools section.

The post Wirex Introduces Iban for All European Crypto Card Accounts appeared first on Bitcoin News.

Bitcoin News

The Daily: Binance Offers Multiple Accounts, Huobi Plans Institutional Exchange

December 8, 2018 |

In this edition of The Daily, cryptocurrency exchange Binance has announced support for multiple accounts and we’ve got all the details. Elsewhere, digital asset exchange Huobi wants to launch a regulated platform for institutional investors under its Gibraltar license. Finally, we cover a warning about an unauthorized crypto brokerage that has been issued by regulators in several European countries.

Also read: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets

Binance Introduces Subaccount Feature

Binance, currently the largest cryptocurrency exchange by daily trading volume, has announced the launch of a subaccount feature for institutional clients. The upgrade will allow them to set up multiple trading accounts within an organization, providing them with improved control and asset audit tools.

Entities will be able to create up to 200 subaccounts, maintaining control over the movement of digital assets from their main account. They can also grant permissions for different access levels. Each subaccount will have its own API limits which will enable API users to trade with more freedom and capacity, the exchange detailed in a post on Medium.

The Daily: Binance Offers Multiple Accounts, Huobi Plans Institutional Exchange

Under the new arrangements, master accounts will be able to view all data and balances, transfer funds between accounts and exert managerial control. Both types of accounts can place orders, but subaccounts will be allowed to cancel only their own orders. The same applies to API features, where only master accounts will be able to delete keys.

Binance assures customers that the new feature has been designed with security in mind. “Account login information has been properly subdivided to maximize security and minimize risk,” the trading platform noted in the announcement.

Huobi to Launch Regulated Exchange for Institutions

The Daily: Binance Offers Multiple Accounts, Huobi Plans Institutional ExchangeDigital asset exchange Huobi, which was recently granted a Distributed Ledger Technology (DLT) license in Gibraltar, has announced plans to create a global platform for institutional customers. According to a press release, the DLT license allows the Singapore-based company to store and transmit cryptocurrencies on behalf of clients around the world. It also simplifies the exchange between fiat and digital currencies.

Lester Haoda Li, head of Global Institutional Business at Huobi’s London office, emphasized that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. He further explained:

Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy … Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.

Gibraltar, a British overseas territory, has become a leading crypto-friendly jurisdiction in Europe. Its dedicated DLT regulatory framework entered into force at the beginning of this year. Huobi is among the first licensed crypto trading platforms. In November, the Gibraltar Financial Services Commission issued a DLT license to Gibraltar Blockchain Exchange (GBX), a subsidiary of the Gibraltar Stock Exchange.

Regulators Warn About Unlicensed Crypto Broker

The Daily: Binance Offers Multiple Accounts, Huobi Plans Institutional ExchangeThe Italian Companies and Exchange Commission, the authority regulating the securities market in Italy, has issued a warning against an online platform offering unauthorized crypto brokerage services. The regulator has ordered Solutions CM Ltd., the operator of the Originalcrypto.com website, to cease its activities that infringe the respective provisions of the Italian law.

The warning has been received and published by the Malta Financial Services Authority as well. Earlier this year, the Maltese regulator shared a similar notice issued by the Spanish National Securities Market Commission. According to the Spanish authority, Solutions CM is not authorized to provide investment services or to perform foreign currency transactions in the country.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

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Bitcoin News

The Daly: Poloniex Offers Institutional Accounts, Okex Launches ‘Perpetual Swap’

December 6, 2018 |

The Daly: Poloniex Offers Institutional Accounts, Okex Launches Perpetual Swap

Cryptocurrency exchange Poloniex is now offering institutional accounts and we’ve covered the announcement in The Daily. Also, Okex is launching a new derivative product, while crypto derivatives exchange Erisx has raised $ 27.5 million and Nasdaq has confirmed that it’s planning to launch bitcoin futures next year.  

Also read: Binance Shows DEX Preview, Ohio to Attract Blockchain Startups With Big Investment

Poloniex Announces Institutional Accounts

The Daly: Poloniex Offers Institutional Accounts, Okex Launches Perpetual SwapU.S.-based cryptocurrency exchange Poloniex has revealed that institutional accounts are now available on its platform. According to a blog post on Medium, institutional clients can take advantage of a large selection of crypto-asset trading pairs, as well as dedicated support and robust API services. The Circle subsidiary also said that it won’t charge fees on BTC/USDC trades until the end of this month.

The announcement further notes that Poloniex is focused on meeting the advanced trading needs of financial institutions. It is the latest crypto trading platform to turn its attention to institutional clients, following the lead of exchanges such as Binance and Coinbase. It hopes to attract them with higher withdrawal limits and customer support provided by a team of professional account managers.

Okex Launches New Derivative Product

The Daly: Poloniex Offers Institutional Accounts, Okex Launches Perpetual SwapOkex, currently the second-largest cryptocurrency exchange by daily volume, has launched a new derivative called “Perpetual Swap.” In a recent announcement, the Malta-based digital asset trading platform explained that the product represents a peer-to-peer virtual derivative. Perpetual Swap has been created to allow traders to speculate on the direction of the price of major cryptocurrencies.

The new instrument resembles futures contracts, as it allows traders to take long or short positions to profit from or hedge against fluctuating asset prices. On the other hand, there is no expiry and settlement occurs on a daily basis, so traders can hold positions without time limits and withdraw their profits at any moment. According to the press release, they can leverage up to 100x.

Crypto Derivatives Exchange Erisx Raises $ 27.5M

The Daly: Poloniex Offers Institutional Accounts, Okex Launches Perpetual SwapNew crypto derivatives exchange Erisx has announced the closing of a $ 27.5 million series B funding round with the participation of major financial institutions and leading representatives of the crypto industry. The new investors include Nasdaq Ventures, Fidelity Investments, Monex Group, Consensys and Bitmain.

The crypto startup is developing a single platform for regulated digital asset futures and spot contracts. It is already registered with the U.S. Commodity Futures Trading Commission (CFTC) as a regulated futures exchange and expects to secure a license to operate as a clearing organization.

Erisx wants to launch the spot and futures contracts in the second quarter of 2019. The exchange also plans to introduce support for deposits, withdrawals and trading of several leading cryptocurrencies — bitcoin core (BTC), bitcoin bash (BCH), ether (ETH) and litecoin (LTC).

Nasdaq Confirms Reports About Bitcoin Futures

The Daly: Poloniex Offers Institutional Accounts, Okex Launches Perpetual SwapA representative of Nasdaq, the world’s second-largest stock exchange, has confirmed reports about its plans to launch BTC futures in 2019. “Bitcoin futures will be listed and it should launch in the first half of next year,” Joseph Christinat, vice-president of Nasdaq’s media team, told the British Daily Express. He noted that the exchange is currently waiting for the go-ahead from the CFTC.

“We’ve seen plenty of speculation and rumors about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go — we’re doing this, and it’s happening,” Christinat added.

He also revealed that Nasdaq has been focusing on cryptocurrency and blockchain technology for some time, despite this year’s market losses.

“We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time — way before the market went into turmoil, and that will not affect the timing of this in any way,” Christinat stressed.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


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The post The Daly: Poloniex Offers Institutional Accounts, Okex Launches ‘Perpetual Swap’ appeared first on Bitcoin News.

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