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Russia’s foreign ministry condemned President Trump’s statement that the U.S. would withdraw from the nuclear treaty worked out by Ronald Reagan and Mikhail Gorbachev, saying that the move was tantamount to blackmail and warning that it would be “a very dangerous step.”
WSJ.com: What’s News Europe
Southern California startup Rocket Lab said Wednesday that it will propel small satellites into orbit from Virginia, an endeavor that reflects increasing demand from companies and governments alike to monitor ships, crops and the weather from space.
Rocket Lab said it will build its launchpad at…
In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.
Also Read: A Bitcoin Rat Is Occupying Wall Street
Skepticism on Twitter over
Aggressive Yobit Campaign
Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. 11. According to Yobit’s Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.
The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange that’s already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.
In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.
Okgroup Founder Vows Full Compliance
with Planned Stablecoin
Star Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.
In a recent tweet, Mr. Xu posted: “Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin.” Xu added that “the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.”
Xu also spoke in favor of stablecoins, stating: “Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is it’s electronic. Today, the amount of cash in China’s domestic monetary system is not small.”
Coinbase Executive Optimistic About Securing Regulatory Approval in Japan
In a recent interview with Nikkei Asian Review, Mike Lempres, the chief policy officer of Coinbase, optimistically discussed the exchange’s desire to obtain regulatory approval to operate in Japan.
Lempres stated that talks are “going well” with Japan’s Financial Services Authority, adding: “We are … committed to getting it done. It will certainly be in 2019.”
Lempres also spoke favorably of the Japanese regulatory system relating to cryptocurrencies. “The Japanese government is more focused on security,” he explained. “That is good for us … Japan has been an active large market from the very beginning, and has proved resilient as it bounces back from several bad experiences. We think there is great demand for a trusted provider of services here.”
Despite his praise for Japan’s crypto regulations, Lempres noted that there are still several issues to be resolved, including whether or not the regulator would require Coinbase to manage its systems from within Japan in order to obtain a license. “We have everything built to protect our storage … in the U.S,” he stated. “We won’t do anything to even raise (the) possibility of a hack. It would be hard for us to duplicate what we do in the U.S. today in Japan and other countries.”
What is your response to Yobit’s random coin pump? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Twitter
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The post Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin appeared first on Bitcoin News.
SpaceX has a growing list of future destinations for its BFR rocket and spaceship system — most recently, a trip around the moon with a paying passenger on board. But funding for its development is far from secured.
Satellite launches and NASA missions to the International Space Station are stable…
The European Union said it would establish a special payment channel to allow European and other companies to legally continue financial transactions with Iran while avoiding exposure to U.S. sanctions.
WSJ.com: What’s News Europe
To promote the sales of its new electric cars, Volvo’s performance luxury brand will let customers choose from an all-inclusive subscription model that combines automotive costs such as insurance and maintenance into a single monthly payment. No money will be required upfront.
It’s less like car…
Crypto exchange Huobi is entering the Japanese market by acquiring a majority stake in one of the 16 government-approved crypto exchanges in the country. The company says it plans to “aggressively scale this trading platform into the largest in Japan,” with an eye on global expansion in the future.
Huobi Entering Japanese Market
Huobi is expanding into the Japanese market by acquiring a majority stake in Bittrade, a Japanese government-approved crypto exchange.
Bittrade’s owner announced on Wednesday, September 12, that Huobi Global’s wholly-owned subsidiary, Huobi Japan Holding Ltd., “will take a majority stake” in the exchange. Speaking of his strategic partnership with Huobi, Singaporean entrepreneur Eric Cheng, who owns 100% of Bittrade, said:
The parties intend to aggressively scale this trading platform into the largest in Japan with the potential to extend its services globally.
Established in China in 2013, Huobi has since moved its headquarters to Singapore. The company now claims to have an accumulated trading volume of over US$ 1 trillion, with “millions of users” worldwide. “Geographically, Huobi has compliance teams in Singapore, Korea, Hong Kong, Australia, the UAE, Luxembourg, and other countries around the world,” the company wrote.
In addition, Huobi has been expanding to other regions through partnerships with local companies. Last month, Huobi announced that it is launching crypto exchanges in the Philippines, Russia, Taiwan, Indonesia, and Canada.
Bittrade Already an Approved Exchange in Japan
One of the biggest hurdles in entering the Japanese market right now is getting approval from the Financial Services Agency (FSA). Since Japan legalized cryptocurrency as a means of payment in April last year, all exchanges in the country are required to register with the FSA.
Last year, the agency approved 16 crypto exchanges. However, the approval rate has plummeted since the hack of Coincheck in January. The agency has since tightened its evaluation process of new exchanges. This has led to 13 of 16 quasi-exchanges to withdraw their applications. Bittrade is one of the 16 FSA-approved crypto exchanges.
Last week, Japan’s e-commerce giant Rakuten acquired Everybody’s Bitcoin, one of the three remaining quasi-exchanges, to fast-track into the Japanese crypto market.
Bittrade Previously Acquired by Singaporean Entrepreneur
In May, Cheng “acquired 100 percent stake in two Japanese licensed companies,” Singapore Business Review reported. “With the acquisition, Cheng, the CEO of Upper Joyful Ltd, will own [the] controlling stake in the two firms — FX Trade Financial Co Ltd (FX Trade) and its affiliate company, Bittrade Co Ltd.”
Cheng has been investing in high-growth opportunities and currently has investments in regions such as Australia, Mainland China, Cambodia, Japan, Malaysia, Singapore, Taiwan, Thailand, and Vietnam, according to Wednesday’s announcement.
What do you think of Huobi entering the Japanese market? Do you think Huobi will succeed in becoming the largest exchange in Japan? Let us know in the comments section below.
Images courtesy of Shutterstock, Huobi, and Bittrade.
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The post Huobi ‘Aggressively’ Enters Japanese Market With Plans to Become the Largest Exchange appeared first on Bitcoin News.
The Trump administration said Thursday it plans to circumvent a longstanding court agreement that governs how children are treated in immigration custody, in part to detain families longer as a way to deter migrants from crossing the Southwestern border illegally. The Homeland Security Department announced proposed regulations that would terminate…