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Kenan Thompson and Kel Mitchell are hungry for a second helping of “Good Burger” … but we’ve learned their craving is more fantasy than reality. Our Nickelodeon sources say there has been NO movement on a “Good Burger” sequel because there…
The daughter of India’s richest man is about to say “I do” and she’s invited some of America’s most recognizable names in business, politics, and entertainment to help her celebrate. Per USA Today , Isha Ambani’s guest list includes Beyoncé , Hillary Clinton and Arianna Huffington. The wedding will take place in…
Oklahoma quarterback Kyler Murray won the Heisman Trophy Saturday after a stellar year: 4,053 yards, 40 touchdowns, a 12-1 record, and a playoff berth for the Sooners. But maybe the most remarkable nugget of all: He was drafted by baseball’s Oakland A’s earlier this year—he went ninth overall—…
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.
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.
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
Digital 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 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.
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The post The Daily: Binance Offers Multiple Accounts, Huobi Plans Institutional Exchange appeared first on Bitcoin News.
Joseph Christinat, the vice president of Nasdaq’s media team, has confirmed that the exchange will soon launch bitcoin futures. In a recent interview with a newspaper in the U.K., Christinat revealed that the platform plans to start offering bitcoin futures contracts within the first half of 2019.
Nasdaq Waiting for ‘Go-Ahead’ From CFTC
Christinat told the Daily Express that the world’s second-largest stock exchange by market capitalization expects to launch bitcoin futures trading in the first six months of the coming year.
“Bitcoin Futures will be listed and it should launch in the first half of next year,” Christinat said, adding that Nasdaq is currently “waiting for the go-ahead” from the U.S. Commodity Futures Trading Commission (CFTC). “There’s been enough work put into this to make that academic. We’ve seen plenty of speculation and rumors about what we might be doing … so, here you go — we’re doing this, and it’s happening.”
Exchange Unfazed by Cryptocurrency Bear Market
Christinat claimed that Nasdaq remains committed to ensuring the launch of bitcoin futures, emphasizing the company’s long-term perspective on the cryptocurrency industry.
“We got into the blockchain game five years ago,” Christinat stated. “When the technology first popped up we just leant out of the window and shouted ‘hey come over here’ right at it.”
Christinat also said Nasdaq has devoted a significant amount of resources toward launching bitcoin futures. “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. No. Period. We’re doing this no matter what.”
Do you think we will see the launch of Nasdaq’s bitcoin futures before the second half of 2019? Share your thoughts in the comments section below.
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Denmark’s government has struck a deal to move “unwanted” refugees to a remote uninhabited island once used for contagious animals.
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South Korea’s incoming finance minister, Hong Nam-ki, has reportedly unveiled his government’s taxation plans for cryptocurrency and initial coin offerings. A task force consisting of experts from government agencies and the private sector will be formed to examine overseas cases to establish domestic cryptocurrency tax rules.
Korean Crypto Taxation Plans
The South Korean government is “planning to tax cryptocurrencies and initial coin offerings [ICOs],” The Korea Times reported on Monday, citing a written statement by the country’s incoming finance minister, Hong Nam-ki.
President Moon Jae-in nominated Hong last month to replace Kim Dong-yeon as the country’s finance minister. He has been serving as the chief of the government policy coordination office, under the prime minister’s office. “Hong must go through a parliamentary confirmation hearing, though his nomination is not subject to approval by lawmakers,” Yonhap News Agency explained. “In South Korea, Prime Minister is the only cabinet post that requires a vote by legislators.”
On Sunday, Hong submitted written answers to questions asked by an opposition lawmaker about his tax policies to the National Assembly. They were for his confirmation hearing which took place on Tuesday, the publication noted.
“The taxation plan would be finalized in accordance with the creation and progress of the taxation infrastructure and the trend on international discussions,” Hong was quoted by The Korea Times as saying. He added:
A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to examine overseas examples and hammer out the taxation plan.
New Finance Minister’s View on Crypto
The South Korean incoming finance minister wrote that “Cryptocurrencies are a new phenomenon and so there is no internationally agreed regulatory framework.” He then acknowledged that “there are such lingering problems like the market overheating and investor protection. Therefore, we need to be careful in building the regulatory framework.”
Regarding ICOs, he reiterated that they are currently banned domestically. Nonetheless, he noted that the government would carefully consider them “after watching market conditions, international trends and investor protection issues,” elaborating:
We will determine our policy orientations on ICOs with relevant agencies after reviewing the results of the financial regulator’s market survey and getting feedback from experts.
Furthermore, Hong justified the government’s decision to exclude crypto exchanges from the category of startup businesses, thereby eliminating the tax benefits they currently enjoy. He believes that “the exclusion reflected the criticism that crypto exchanges were vulnerable to illegal acts and were merely a brokerage service separate from blockchain technology,” The Korea Times conveyed.
What do you think of South Korea’s crypto taxation plans? Let us know in the comments section below.
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The post Korean Incoming Minister Confirms Cryptocurrency Taxation Plans appeared first on Bitcoin News.
California officials will take over a small insurance company that has been overwhelmed by claims from property owners in Paradise whose homes were leveled by the Camp fire.
A Merced County judge on Monday allowed Insurance Commissioner Dave Jones to liquidate the assets of Merced Property & Casualty…
Japan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales.
Registrations and Law Changes
The Financial Services Agency (FSA), Japan’s top financial regulator, “is set to launch regulations on initial coin offerings [ICOs],” Jiji Press wrote on Saturday. Sources told the news outlet:
The FSA will require business operators that issue their own
cryptocurrencies to be registered with the agency.
Japan’s amended Payment Services Act requires cryptocurrency operators to register with the FSA. However, ICOs are currently not covered within the scope of this act.
Jiji Press also reported that, in order to “introduce the [ICO] regulations,” the agency “plans to submit bills to revise the financial instruments and exchange law and the payment services law to next year’s ordinary parliamentary session starting in January.”
FSA’s ICO Discussions
The FSA has been holding study group meetings to discuss how to best regulate token sales. The agency has stated that ICOs are not prohibited but acknowledged that many of them are fraudulent. In March, Satis Group published a report which claims that 78 percent of ICOs are scams.
Sources told Jiji Press:
In view of a number of possibly fraudulent ICO cases abroad, the financial regulator plans to limit individuals’ investment in ICOs for better protecting them.
While Japan currently does not have a specific law for ICOs, two existing laws may apply to them based on how they are structured, the FSA previously explained. The first applicable law is the Payment Services Act. The other is the Financial Instruments and Exchange Act which provides a regulatory framework for securities and securities companies in Japan.
At the latest meeting on ICO regulation held on Nov. 28, the FSA discussed additional areas it plans to regulate.
Some ICOs will be regulated under the Financial Instruments and Exchange Act.
“If an ICO has the characteristics of an investment, and the purchase of a token by a virtual currency is practically deemed equivalent to that of legal tender, the ICO becomes subject to regulations under the Financial Instruments and Exchange Act,” the regulator previously explained.
The regulation will also include disclosure requirements and measures for unfair trades. In addition, distribution channels will be regulated and token issuers will be screened to ensure adequate financial health.
What do you think of the FSA’s plans to regulate ICOs? Let us know in the comments section below.
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The post Japan Unveils Plans to Regulate Initial Coin Offerings appeared first on Bitcoin News.
Dog the Bounty Hunter’s wife, Beth Chapman, remains in the hospital following her throat cancer diagnosis … but the family has already hatched a plan on where they’ll head once she’s released. TMZ broke the story … doctors discovered…