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Thailand Greenlights Japanese Exchange to Operate 4 Crypto Businesses

February 23, 2019 |

Thailand Greenlights Japanese Exchange to Operate 4 Cryptocurrency Businesses

The Thai government has issued four licenses to a new crypto exchange. Prior to this, only existing exchanges that were in business before the country’s crypto regulation took effect were approved. The first licensed new exchange in Thailand is a subsidiary of a regulated Japanese exchange, Bitpoint.

Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

New Crypto Exchange Licensed

Japanese corporation Remixpoint Inc. announced on Thursday that its Thai subsidiary, Bitherb Co. Ltd., has obtained four different crypto-related licenses to operate in Thailand. The announcement concurs with the information posted on the website of the Thai Securities and Exchange Commission (SEC). Remixpoint also operates Bitpoint Japan, one of 17 government-approved Japanese exchanges.

With the new licenses, Bitherb can legally operate as a crypto asset exchange, a digital token exchange, a crypto asset broker, and a digital token broker. Currently, it is the only company approved to operate as a digital token broker in the country.

Thailand Greenlights Japanese Exchange to Operate 4 Cryptocurrency Businesses

Bitherb is a crypto exchange and management company co-founded by Bitpoint Japan and Asia Herb Association Bangkok Co. Ltd. The latter owns 60.5552 percent of Bitherb while the former owns 39.4446 percent. The president of Bitpoint Japan, Oda Genki, also serves as an officer of the new Thai entity. Bitpoint also operates in other countries including Hong Kong, South Korea, Taiwan, Malaysia, and Panama.

Japanese Exchange Approved to Operate 4 Cryptocurrency Businesses in Thailand

Four Licenses

The Thai SEC’s website lists all companies that have been approved to operate crypto-related businesses in Thailand. The country enacted its crypto regulation in May and subsequently approved four companies that had been in business before the regulation took effect. Two companies were rejected.

Licenses have been granted to companies in five categories to date: crypto asset exchanges, digital token exchanges, crypto asset brokers, digital token brokers, and crypto asset dealers. Four companies have been approved to operate both crypto asset and digital token exchanges: Bitcoin Co. Ltd., Bitkub Online Co. Ltd., Satang Corp. Co. Ltd. and now Bitherb. Licenses to operate as a crypto asset broker have been granted to Coins Th. Co. Ltd. and Bitherb. Meanwhile, only Bitherb has been approved as a digital token broker and only Coins Th has been approved as a crypto asset dealer.

Thailand Greenlights Japanese Exchange to Operate 4 Cryptocurrency Businesses
Licenses Bitherb has obtained from the Thail SEC and the finance ministry.

The Thai SEC launched a website last month called “Siang Soong” which means “high-risk” to help educate the general public about cryptocurrencies and tokens. Rapee Sucharitakul, Secretary-General of the Thai SEC, said that “Digital assets are useful as funding tools … and as a medium of exchange.” However, he added that it is a high-risk asset suited for people with the knowledge and understanding of the technology and not necessarily for general investors.

What do you think of Bitpoint getting four different crypto licenses to operate in Thailand? Do you think many more exchanges will follow suit? Let us know in the comments section below.


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The post Thailand Greenlights Japanese Exchange to Operate 4 Crypto Businesses appeared first on Bitcoin News.

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Cryptocurrency Exchange Exmo Opens Branch in Turkey

February 21, 2019 |

Cryptocurrency Exchange Exmo Opens Branch in Turkey

Digital asset exchange Exmo, a leading crypto trading platform in Eastern Europe, has recently registered a subsidiary in Turkey. The company is setting up an office in Istanbul, the financial capital of the country situated on the Bosphorus.

Also read: Lithuania Central Bank’s Policy Update Opens the Door for Crypto Payments

Traders Offered Pairs With the Turkish Lira

The decision to establish the branch is part of Exmo’s launch in Turkey and indicates the growing significance of the Turkish crypto market in the region. The cryptocurrency exchange already has offices in the Russian Federation, Ukraine, Spain and the United Kingdom.

Cryptocurrency Exchange Exmo Opens Branch in Turkey

The move comes after Exmo presented a Turkish language version of its website and introduced support for the Turkish lira (TRY). Trading pairs between the local fiat currency and major digital coins such as bitcoin core (BTC), ethereum (ETH), ripple (XRP), and stellar (XLM) are now available.

In an announcement published on its website and social media, the exchange noted that it’s currently finalizing formal procedures to open an account in a Turkish bank. That means a bank transfer payment option will be available to users in the near future.

Commenting on the new developments during the Blockchain Economy Istanbul Summit, chief executive officer of Exmo, Sergey Zhdanov, stated:

The Turkish market has become an incredibly pleasant discovery for us. The numbers of traders from the eastern region undoubtedly pleases us. So, we have decided not to stop here and open a representative office in Istanbul in order to have even more opportunities in this region.

Cryptocurrencies Popular in Inflation-hit Turkey

Exmo, which was founded in 2013, is based in London, Kiev, Barcelona, Moscow, and now Istanbul. It’s often referred to as the largest cryptocurrency trading platform in Eastern Europe. The exchange reports having a total of 1.6 million users and 50,000 active daily traders.

The platform offers more than 120 trading pairs and has become popular in the region with its support for six fiat currencies including the Russian ruble, the Ukrainian hryvnia and the Polish zloty. According to the company, its average daily trading volume is around $ 30 million. At the time of writing, Exmo is the 65th crypto exchange listed on Coinmarketcap with a 24-hour volume of close to $ 18 million.

Turkey is one of those inflation-hit countries where cryptocurrencies have been steadily gaining popularity due to the depreciation of the national fiat currency. Trading volumes on the country’s major crypto exchanges spiked last summer when the Turkish currency saw a big drop against the U.S. dollar.

Cryptocurrency Exchange Exmo Opens Branch in Turkey

At press time, TRY is trading at approximately $ 0.18, compared to 26 cents a year ago. In August 2018 its price bottomed at a little over $ 0.14. That’s when Turkish crypto exchanges registered their highest trading volumes.

Back then, one of the leading local platforms, Btcturk, saw a 350 percent increase in just 24 hours, as news.Bitcoin.com reported. It currently has over $ 4 million in daily trading volume. Other popular crypto exchanges in Turkey that Exmo has to compete against include Paribu, Koinim, and Koineks, all of which trade a wide variety of digital coins.

BTC trade with the Turkish lira on the peer-to-peer exchange Localbitcoins peaked during the week of Nov. 25, 2018, when according to Coindance the volume reached almost 2.5 million Turkish lira (over $ 525,000 in today’s prices).

Do you think Turkey will establish itself as a major crypto market in the region? Share your thoughts on the subject in the comments section below.


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Cryptocurrency Exchange Exmo Opens Branch in Turkey appeared first on Bitcoin News.

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In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC’s Connexus Cloud

February 21, 2019 |

In the Daily: Sirin Labs’ Smartphone, Middle East’s Cbx Exchange, IPC's Connexus Cloud

In this edition of The Daily we cover a number of cryptocurrency-related business collaborations from around the world. These include Sirin Labs and Simplex, Middle East-focused crypto exchange Cbx, and Heliocor, IPC and ICE Data Services. Additionally covered is an update from the FBI which is conducting an investigation into Bitconnect.

Also Read: Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange

Sirin Labs Smartphone to Integrate Simplex

Sirin Labs, creators of the cryptocurrency-focused Finney smartphone, have announced a partnership with online payment processing solutions provider Simplex. With the integration of Simplex’s escrow service for fiat-to-crypto transactions, the phone’s users will be able to buy crypto with fiat directly through its wallet application. Founded in 2014, Simplex is headquartered in Israel, with subsidiaries in the U.K., U.S., and Lithuania. The service processes credit card payments for some of the largest crypto exchanges, wallets, and platforms around the world.

In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC's Connexus Cloud

“The growing portfolio of our partners and integrations is aimed to assure our community that their crypto experience through FINNEY is constantly evolving,” said Sirin Labs CEO Zvika Landau. “Simplex shares the same vision of bridging the gap between crypto and the mass market. This integration marks that first step in making crypto more accessible to novice users, as well as simplifies trading for our seasoned crypto community.”

Middle East’s Cbx Exchange Partners With Heliocor

Heliocor, a regulation technology company from London, has announced a strategic partnership with Cbx, a global cryptocurrency trading platform based in the Middle East with independent operating teams in UAE, Hong Kong, Taiwan, Malaysia, and London. The deal is meant to enable enhanced due diligence of both institutional investors and retail investors in the Middle East. Heliocor offers a GDPR compliant cross regulation onboarding application that is now integrated into the Cbx trading platform, allowing the exchange to apply Know your Client (KYC) and Anti Money Laundering (AML) checks on its clients.

In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC's Connexus Cloud

Vikas Tripathi, Managing Director of Heliocor, commented: “Several companies from blockchain and cryptocurrency have engaged with us to help them overcome their ever-changing regulation challenges. We believe that cryptocurrency markets will form a key market for our technology, allowing us to apply our deep regulation and compliance knowledge in banking and financial institutions to further engage with the blockchain industry. We are delighted to be working with CBX to provide them with an enhanced due diligence capability and adding confidence to their users as they access the crypto market.”

IPC’s Connexus Cloud to Add ICE Crypto Data Feed

IPC, a provider of networking solutions for the financial markets, has announced it will include cryptocurrency data feed on its cloud platform from ICE Data Services, which is part of Intercontinental Exchange (NYSE: ICE). The Connexus Cloud connects 6,400 capital market participants across 750 cities in 60 countries including sell-side and buy-side firms such as inter-dealer brokers, liquidity venues, and clearing/settlement firms. Customers using the ICE Cryptocurrency Data Feed will be able to access real-time and historical data for over 60 digital assets, including BCH and BTC, from more than 30 trading venues.

In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC's Connexus Cloud

“The cryptocurrency market continues to make inroads with global investors, who rely on timely and robust pricing data to help with their critical investment decisions,” said Mike Smith, Director Global Exchange Relations Management at IPC. “With the vast ICE Cryptocurrency Data Feed now accessible by Connexus Cloud users, we continue to bring customers the vital information needed in this emerging and growing market.”

FBI Is Looking for Bitconnect Victims

The U.S. Federal Bureau of Investigation (FBI) is seeking potential victims who invested in Bitconnect (BCC). The agency asks anyone who invested in it to voluntarily complete a questionnaire on their website which will be used in the federal assessment of this matter. Based on the answers provided, the FBI may contact respondents for additional information.

In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC's Connexus Cloud

The FBI announcement recounts that Bitconnect guaranteed investors up to a 10 percent total return per month, following a tiered investment system based on the sum of an investor’s initial deposit. In December 2017, BCC boasted a market cap of over $ 2.5 billion but the price crashed in January 2018 after U.S. securities regulators warned investors of the Ponzi-type nature of the scheme. “This led to Bitconnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency,” explains the FBI.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


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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.

The post In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC’s Connexus Cloud appeared first on Bitcoin News.

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Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange

February 20, 2019 |

Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange

Coinflex has now launched its physically delivered cryptocurrency futures exchange. The new Hong Kong-based leveraged trading platform is a spin-off from one of the United Kingdom’s oldest cryptocurrency exchanges, Coinfloor.

Also Read: In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

Coinflex Exchange Is Now Online

Coinflex, a physically delivered cryptocurrency futures exchange with leverage of up to 20x, announced on Feb. 20 that the platform’s website is now live. Last month it was reported that the trading venue plans to offer futures contracts for bitcoin core (BTC), bitcoin cash (BCH), and ethereum (ETH), all paired against tether (USDT).

Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange

Based in Hong Kong and incorporated in the Republic of Seychelles, Coinflex is owned by a consortium that includes Trading Technologies International Inc., crypto trader Mike Komaransky, and Dragonfly Capital Partners. Market markers B2C2, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor and its subsidiary companies also have partial ownership of Coinflex.

Cutting Out the Middle Men

The Coinflex platform is headed by chief executive officer Mark Lamb, who published a Medium post on Wednesday detailing the differences between traditional futures vs crypto futures exchanges. He explained that traditional exchanges usually have a minimum of two and often three or four layers of intermediaries between the exchange and the customer. Traditional futures brokerage firms and Futures Commission Merchants (FCMs) also usually require a customer be a high net worth individual or professional trader with experience in financial markets.

Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange
Traditional futures vs crypto futures exchanges as detailed by Coinflex CEO Mark Lamb

“I fell in love with bitcoin because it’s peer-to-peer, open, and transparent,” stated Lamb. “Everyone has the chance to transact on the same network. Anyone who has the tools can run a node and I won’t reject your Proof of Work because you come from a different country, don’t speak my language, or don’t meet a government-set ‘capital requirement’. Crypto derivatives are built in the same fashion as bitcoin. Virtually anyone can sign up regardless of wealth, geographic location, or whether or not he or she has a bank account.”

What do you think about Coinflex launching physically delivered crypto futures trading? Share your thoughts in the comments section below.


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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.

The post Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange appeared first on Bitcoin News.

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Crypto Exchange Globitex Launches Banking Solution With Instant Transfers

February 14, 2019 |

Crypto Exchange Globitex Launches Banking Solution With Instant Transfers

Cryptocurrency exchange Globitex has launched a new service called the Euro Wallet which allows users to make and receive euro payments in their personal IBAN accounts like any other European bank account. The company claims that this service is a solution to banks closing accounts of crypto businesses.

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

Globitex’s Banking Solutions

European cryptocurrency exchange Globitex announced on Wednesday the launch of its new service called the Euro Wallet. The company is co-founded by early bitcoin adopter and former executive director of the Bitcoin Foundation Jon Matonis.

Crypto Exchange Globitex Launches Banking Solution With Instant Transfers

The announcement reads:

The Euro Wallet allows users to make and receive EUR payments on a personal IBAN account like any other EUR bank account. The account can be accessed on the cryptocurrency exchange platform providing the user with seamless transactions and EUR under their full control in mere seconds, after withdrawing from their Globitex trading account.

The service is designed to assist crypto users, traders, miners, and businesses in the EU. Globitex CEO Uldis Teraudkalns explained that this new product offers “access to a fully functional IBAN account via the Globitex cryptocurrency exchange as well as instant deposits / withdrawals on Globitex trading account.” According to its website, the exchange currently supports the trading of BTC, BCH, ETH, GBX, and EURS.

In addition to various fees for using the service, there is a monthly outbound transaction limit of 30,000 euros (~$ 33,832) for individuals or 200,000 euros for corporate entities.

The Benefits

Globitex explained that among the benefits the new service offers are personal IBAN accounts, SEPA transfers, instant EUR deposits and withdrawals from trading accounts, and the ability to make third-party payments. Meanwhile, actual euro “funds are kept at a European central bank,” the company noted.

Crypto Exchange Globitex Launches Banking Solution With Instant Transfers

Teraudkalns reiterated that the new service provides users with their personal EUR account on the same platform as their trading account, thus allowing for instant transfers which save them “time and money when moving funds.” He elaborated that all EUR exchanges let customers access their money “only with an extra step of transferring the EUR funds to another bank account” in their name which “depending on the bank the exchange uses can take 1-2 days.”

Furthermore, he emphasized that his company “will never say no to a client because their business is related to cryptocurrency,” unlike many banks in Europe that close customer accounts dealing in cryptocurrencies with no explanation or charge them “ridiculous fees for banking services.”

E-money License

The Euro Wallet is powered by Globitex’s parent company, Nexpay UAB. Nexpay was granted an e-money license (EMI) in October 2017 by the Bank of Lithuania to carry out payment services and e-money issuance in the EU. Matonis is listed as the CEO of the company on the central bank’s website. This license allows the company to “provide clients with payment services and e-money issuance across all 28 countries,” Globitex proclaimed.

Crypto Exchange Globitex Launches Banking Solution With Instant Transfers

“Acquisition of the EMI licence brings with it the possibility of integrating with the SEPA euro payments system directly through the Central Bank of Lithuania,” the exchange described. “This will enable Nexpay to clear euro payments directly, without the involvement of commercial banks, and to issue IBAN accounts to Globitex clients just like banks issue accounts to clients.”

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


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The post Crypto Exchange Globitex Launches Banking Solution With Instant Transfers appeared first on Bitcoin News.

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Nasdaq Stock Exchange to Start Offering BTC and ETH Indices

February 14, 2019 |

Nasdaq Stock Exchange to Start Offering BTC and ETH Indices

The Nasdaq stock exchange will start offering real-time information on two new indices tied to the cryptocurrency market – bitcoin core and ethereum. Both indices will be included on the exchange’s existing platform of indexes starting Feb. 25.

Also read: Indonesia’s Futures Regulator Issues New Rules For Crypto Assets

BLX and ELX Indices Capture Data From Multiple Exchanges

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will “provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets,” said Nasdaq in an online statement published Feb. 11.

Nasdaq Stock Exchange to Start Offering BTC and ETH Indices

According to the statement, both the “BLX and ELX work by capturing data from multiple exchanges to provide a single price point for BTC and ETH, which helps traders, get in and out of a given position.” Nasdaq claims the methodology has been verified by independent auditors.

“The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014,” said the exchange.

 Driving Mainstream Crypto Adoption

The two indices were created by Brave New Coin. Nasdaq’s latest move is seen as key to introducing cryptocurrency to traditional stock market investors on Wall Street and elsewhere, thereby driving mainstream adoption. The stock exchange has swam against the tìde in being drawn to crypto assets, starting with publishing analytical reports on Bitcoin and partnering with Vaneck to launch BTC futures trading in a falling market last year.

Nasdaq Stock Exchange to Start Offering BTC and ETH Indices

The two new indices join several dozen of Nasdaq’s indices including the Nasdaq Composite, its main index, and the Nasdaq 100, through its Global Index Data Service. The data service is a real-time feed that consolidates all Nasdaq indexes and ETF valuation data, including third-party partner data.

Nasdaq is the world’s second largest stock market by capitalization, behind only the New York Stock Exchange. More than 3,400 companies are listed on the bourse, which boasts a total market value of $ 10 trillion. Cryptocurrency is expected to benefit from the exchange’s expansive reach. Acceptance by institutional investors which dominate trade on Nasdaq is regarded by some as a major step towards mainstreaming virtual currencies as well as increasing adoption.

What do you think about the inclusion of BTC and ETH indices on the Nasdaq stock exchange? Let us know in the comments section below.


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The post Nasdaq Stock Exchange to Start Offering BTC and ETH Indices appeared first on Bitcoin News.

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Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account

February 13, 2019 |

Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account

Brazilian cryptocurrency exchange Bitcoin Max has won in court the right to keep its checking account with Banco Santander. According to the presiding judge, the bank has not met its obligation to notify the crypto company of the closure in advance.   

Also read: Hacked NZ Exchange Cryptopia Allowed to Reopen

Closing of Account Deemed Unlawful

The decision was handed down by Judge Geilza Fátima Cavalcanti Diniz from 3rd Civil Court of Brasilia, the capital. It confirmed an injunction granted to the digital asset trading platform in September 2018 by Judge Ana Catarino of the 8th Federal District Court, Portal do Bitcoin reported. Bitcoin Max filed a lawsuit against Santander in August after its account was closed without any formal notice.

Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account

Judge Cavalcanti Diniz stated in a previous ruling last summer that the closing of the account is in the powers of the financial institution according to the norms established in article 10 of Resolution 2,025/93 of the Central Bank of Brazil (Bacen). Now, she has deemed unlawful the rescission of the contract by the defendant, Santander, because there was no proof that the plaintiff, Bitcoin Max, was notified about the closure of its account. According to the same resolution of Bacen, banks can terminate accounts only after sending a written notice of intention to the account holder.

The cryptocurrency exchange had its claim for compensation for moral damages dismissed as unfounded. The judge said the closure of its account is not by itself a violation of personal rights. She also noted that the case should not be treated according to consumer law as the bank account was used to facilitate business activities.

Santander Accused of Abusing Rights

Bitcoin Max’s lawyer Leonardo Ranna explained the judge’s decision as follows: “At first, she thought the bank can terminate the agreement and close the account. But what happened was that in the course of the proceedings we argued that the bank would not have complied with the Central Bank’s resolution that requires it to provide prior notification and present a plausible reason for the termination of the account agreement.”

Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account

The judge understood, Ranna added, that Santander abused its rights as it did not pay attention to what is prescribed in the Bacen resolution. But he also emphasized that the ruling did not mention the fact that Brazilian banks orchestrated an operation to close the accounts of all companies operating with cryptocurrencies. He insisted this should have been taken into account since there’s evidence that’s what happened.

The latest decision comes after a court in Rio de Janeiro recently ruled in favor of another Brazilian crypto exchange, Mercado Bitcoin, in a case over the closure of one of its checking accounts. It turned down an appeal filed by Banco Sicoob against the decision of a district court to allow the trading platform to keep its account open. In that case, the judge insisted there should be a justified reason to close an account, which the bank did not provide.

What is your opinion about these court decisions in Brazil? Share your thoughts on the subject in the comments section below.  


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Hacked NZ Exchange Cryptopia Allowed to Reopen

February 13, 2019 |

Hacked NZ Exchange Cryptopia Allowed to Reopen

Digital asset exchange Cryptopia has been given the green light to open again after New Zealand police announced they have almost completed their investigation at its offices. The crypto trading platform suffered a security breach last month when, according to one estimate, as much as $ 16 million worth of cryptocurrency was stolen.

Also read: Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account

Management Granted Access to Their Offices

According to law enforcement officials, Cryptopia can now reopen at any time. “We have finished the main part of the work required by the High Tech Crime Group at Cryptopia’s business premises, although HTCG staff remain there finishing up aspects of their work,” detective inspector Greg Murton said, quoted by The New Zealand Herald.

Hacked NZ Exchange Cryptopia Allowed to Reopen

Murton further noted that Cryptopia management have been granted full access to their facilities and business premises. He also stressed that the “investigation is not preventing their business from getting up and running again.” The inspector declined to indicate whether or when authorities might lay any charges in the case.

The exact amount of cryptocurrency presumably stolen in the heist remains unknown and Greg Murton refused to comment on the matter. Experts from data company Elementus believe the digital coins, comprising ethereum and ERC20 tokens, are worth up to $ 23 million NZ dollars (almost $ 16 million), which is much more than initial estimates following the news of the hack in mid-January.

Cryptopia Cooperates With the Investigation, Police Say

A report from the end of last month suggested that the attack continued even after investigators arrived at the offices of the Christchurch-based exchange. However, Murton refused to comment on these claims or discuss the suggestion that a portion of the stolen funds have been identified and frozen.

Hacked NZ Exchange Cryptopia Allowed to Reopen

Police officials noted that staff members are cooperating with law enforcement and other government agencies, including the High Tech Crimes Unit. Cryptopia director Pete Dawson was quoted as stating that the information about cryptocurrency transfers has been misinterpreted but he did not say how much digital cash was missing.

Questioned by the local newspaper, Cryptopia founders Adam Clark and Rob Dawson did not provide a timeframe for the resumption of the exchange’s activities. Its website still displays the original announcement regarding the security breach resulting in “significant losses” as well as a link to the press release issued by the New Zealand police.

What are your expectations about the future of Cryptopia? Share your thoughts on the case in the comments section below.


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Hacked NZ Exchange Cryptopia Allowed to Reopen appeared first on Bitcoin News.

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Crypto Broker Voyager Digital Lists on Canada’s TSX Venture Exchange

February 12, 2019 |

Crypto Broker Voyager Digital Lists on Canada's TSX Venture Exchange

Canadian crypto asset broker Voyager Digital Ltd has started trading its shares on the Toronto Ventures Exchange (TSX.V). The company listed through a reverse takeover of mineral exploration company UC Resources. Voyager argues that going public will help to improve transparency in the crypto market while promoting adoption by allowing traditional investors to tap into digital assets through the public equity market.

Also read: Coinify Adds BCH and Rebrands Its Trading Platform

‘Listing Will Boost Transparency and Crypto Adoption’

Shares of Voyager will trade under the ticker symbol ‘VYGR.V’. “While reverse takeovers are an increasingly popular business strategy for many emerging companies, the idea of a young company going public may at first glance seem out of the norm,” Stephen Ehrlich, chief executive officer of Voyager, explained in a blog post.

“For us, the choice made perfect sense. It offered Voyager the chance to bring transparency to our business, maturity to the crypto market and to provide the world with an opportunity to invest in a public crypto trading company through the traditional market.”

With a reverse takeover, private companies typically avoid the rigor of regulatory oversight and costs associated with going public through an initial public offering, which in a sense makes them attractive to startups keen on getting around bureaucratic red tape.

Voyager has recently announced the finalization of its tie-up with UC Resources, a publicly quoted company on the NEX Exchange, Canada’s junior market for emerging companies. By virtue of the merger, which in effect is a takeover of UC Resources’ majority shareholding, Voyager has gone public. The deal allows the merged entity to transition to the TSX Ventures Exchange as a Tier 2 company.

‘Solid Capital Base to Drive Company Growth’

In his blog post, Ehrlich elaborated that the stock market listing legally bounds the broker to disclose both quarterly and annual reports. Voyager will also be required to publicly reveal details about any corporate deals like mergers, acquisitions, insider trading, securities transactions by company employees and ownership changes.

“We’re confident that the level of transparency a public company is held to will benefit not only our shareholders and customers but also the crypto market as a whole,” said Ehrlich. “Our hope is that we can encourage more people to participate in the crypto market through a regulated vehicle without the fear and doubt that has shrouded the industry previously.”

Crypto Broker Voyager Digital Lists on Canada’s TSX Venture Exchange

The listing “was a crucial step for our growing company”, said the CEO, “as we now have a solid capital base with which to grow, expand and improve our offering for investors.” He also spoke about how the development will boost cryptocurrency adoption by allowing traditional equities traders to have the opportunity to invest in crypto by buying shares of Voyager, “even if they’ve never touched crypto assets before.”

Voyager offers cryptocurrency trading services to both retail and institutional investors. The brokerage, which is eyeing to grow its share of the U.S. market, is currently testing a zero-fee mobile digital currency trading app in beta. The app is built to allow users to buy and sell as well as manage their cryptocurrency investments across several exchanges.

What do you think about cryptocurrency companies going public? Let us know in the comments section below.


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The post Crypto Broker Voyager Digital Lists on Canada’s TSX Venture Exchange appeared first on Bitcoin News.

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Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account

February 10, 2019 |

Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account

A court in Rio de Janeiro has ruled in favor of Brazilian crypto exchange Mercado Bitcoin in a case over the closure of one of its checking accounts. The judicial instance turned down an appeal filed by Banco Sicoob against a decision by the district court in Barra da Tijuca which granted the exchange the right to keep its account open.  

Also read: Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

Banks Should Have a Reason to Close Accounts, Brazilian Court Confirms

According to judge Regina Lucia Passos from 21st Civil Chamber of the Court of Justice of Rio de Janeiro, there should be a justified reason to close an account but the bank did not provide one, Portal do Bitcoin reported. Passos argued that despite warning in communiqué 31.379/17 about the “risks arising from the custody and trading of so-called virtual currencies,” the Central Bank of Brazil has not prohibited the trading of digital coins.

The judge also insisted Sicoob incurred no losses from maintaining Mercado Bitcoin’s account. She added that by closing it unilaterally, claiming only commercial disinterest, the bank actually violated resolution No. 2,025/93 of Banco Central do Brasil. The document states that a financial institution should clearly define the reason for such a measure. Furthermore, Bacen’s circular No. 3,788/16 reads that the notification of an intention to terminate a contract should contain express reference to the exact motives.

Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account
‘The Justice’ sculpture in front of the Supreme Federal Court

The decision of the Rio de Janeiro Court of Justice may not be final, Portal do Bitcoin notes, but it is nevertheless a victory for Mercado Bitcoin. Last year, the exchange lost a lawsuit against the closure of its account by another institution, Banco Itau. In October, the Brazilian High Court ruled that banks have the right to close accounts associated with cryptocurrencies without providing any reason. It stated that the crypto trading platform had to prove that any constitutional norms had been breached and take the matter to the Supreme Court.

Meanwhile, Banco Itau has been accused of trying to stifle competition. The bank has reportedly acquired almost half of the shares of XP Investments, a brokerage that began operating with digital coins at the end of 2018.

Also in October, another court ordered two financial institutions to reopen the frozen accounts of crypto exchange Bitcoin Max. Brazil’s Federal District Court threatened to fine Banco do Brasil and Banco Santander if they fail to comply with its decision. It also described their unilateral actions as abusive and prohibited by consumer protection regulations. At that point, six of the country’s largest banks had closed accounts belonging to digital asset trading platforms.

Crypto Proponent Nominated for Banco Central President

The latest decision of the Brazilian judiciary coincides with another development that has been described by publications as positive news for the crypto community in the country. Brazil’s new president, Jair Bolsonaro, has nominated an economist believed to be a crypto proponent to head the country’s central bank.

Before becoming the next president of Banco Central do Brasil, Roberto Campos Neto has to win the approval of the Federal Senate. In a letter to the members of the upper house of the National Congress, the appointee outlined his previous experience related to financial innovation.

Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account
Banco Central do Brasil

“I have studied and been dedicated intensely to the design of what will be the financial system of the future. I participated in studies on blockchain and digital assets,” noted Campos Neto. The Banco Santander executive also said he wants to prepare the central bank “for the future market, where technologies advance exponentially, generating more rapid transformations.”

According to a recent report by Reuters, the message signals that the candidate will continue and eventually extend the policies of the outgoing Bacen governor Ilan Goldfajn. His administration of Brazil’s main monetary authority created conditions for the emergence and development of independent financial services and fintech companies in the country.

What’s your opinion about the legal battle of Brazilian exchanges to maintain access to regular banking services? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


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