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Rob Gronkowski can dance anytime, anywhere … including in the streets of the Bahamas with some locals. The Patriots TE was in the Caribbean last weekend and hit up the Bahamas’ Junkanoo Carnival … and it didn’t take long for him to join in on…
Ten people are dead and 15 are injured after the driver of a van plowed into multiple pedestrians in Toronto on Monday in what appears to be a deliberate act, Toronto Police Chief Mark Saunders said.
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Stocks opened broadly higher on Wall Street on Monday as technology and healthcare shares posted solid gains.
Drug maker Merck & Co. jumped 3%, and Microsoft rose 1%.
Truck and engine maker Navistar rose 3.3% after Reuters reported that Volkswagen might buy the company.
Wall Street banks could face higher capital hurdles under a Federal Reserve proposal that would mark the most significant rewrite of requirements put in place after the 2008 financial crisis.
In a statement issued Tuesday, the Fed said it is considering implementing a “stress capital buffer” to…
A change bureau trading bitcoin has been opened in the Russian capital. According to local media, this is the only currency exchange in Moscow buying and selling cryptos for cash. Lawyers say nothing in the law prohibits this kind of service, and the business is legal.
Also read: Russians Owe 13% Tax on Their Crypto Incomes
Bitcoin Sold for Cash
Russian authorities have not regulated cryptocurrencies yet, but Russians are already adopting them. A new bitcoin change has been opened recently, not far from one of Moscow’s main railroad stations, Kursky Vokzal. According to media reports, the bureau is the first of its kind in the Russian capital.
The exchange is trading only bitcoins for Russian rubles in cash. Customers can buy and sell the cryptocurrency if they present an ID. The management claims that their business complies with current Russian laws. The bureau is located on the “Verhniy Susalniy” street. Other offices will be opened at two other locations, the business centers “Moscow City” and “Rumyantsevo”, Bitfin reports.
Cryptocurrencies are not considered legal tender in Russia. A draft law to legalize crypto-related activities, like initial coin offerings and mining, has been introduced in the Duma by the Ministry of Finance. Another bill, co-sponsored by the parliament speaker Vyacheslav Volodin, aims to regulate the use of “digital money” and protect “digital rights” of investors. The new legislation should be adopted by July.
The circulation of cryptocurrencies and their use for payments have divided government institutions. The Finance Ministry wants to legalize their trade on registered exchanges but the Central Bank has opposed the idea. There have been calls for an outright ban on cryptocurrencies by officials who consider them illegal money surrogates. On the other hand, the current legislation does not explicitly prohibit cryptocurrency operations like exchange services.
Well, If It Isn’t Banned…
“In any democratic society, including Russia, if something isn’t banned, it should be legal,” said Vladimir Yurasov, managing partner at a Moscow-based law firm. “The federal legislation has no provisions prohibiting the use of bitcoin in financial transactions. The purchase and sale of bitcoin do not violate the Civil Code”, he told BFM. If there is no criminal offense, these activities are legal, the lawyer added. Russians can buy bitcoin, both on the internet and on the street, Yurasov said.
The branding of the new crypto exchange, however, is a bit misleading. The office of “Sbercoin” resembles that of a Sberbank branch – similar name, the same green colors. The state-owned Russian “Savings bank” is among the biggest in Europe. Despite its interest in cryptocurrencies, it certainly has nothing to do with the small change tucked between a grill and a tobacco shop.
According to Vivalacloud, Sbercoin also offers its customers a contract for some of its services. It comes with a plastic card showing a public key to a new crypto wallet. A private key is provided in an envelope – only you will know it… and Sbercoin, of course. Remember, Bitcoin has its “dos” and “don’ts”!
Do you think currency exchanges can bring more people into cryptocurrencies? Tell us in the comments section below.
Images courtesy of Shutterstock, Infox.
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Steven Bochco, a writer and producer known for creating the groundbreaking police drama Hill Street Blues , died Sunday. He was 74. A family spokesman says Bochco died in his sleep after a battle with cancer. Bochco, who won 10 primetime Emmys, created several hit television shows including LA Law , NYPD…
Stocks are opening mostly lower on Wall Street as losses in technology companies and retailers offset gains elsewhere in the market.
Apple fell 1.3% and chipmaker Intel lost 2.4% early Wednesday. Amazon slumped 4.1%.
Bank of America and Merck each rose 1%. Facebook, which has been pummeled in recent…
This week Jane Street Capital a global proprietary trading firm has announced it has been trading BTC these days. Often referred to as one of Wall Street’s most secretive investment companies, Jane Street says if cryptocurrencies continue to rise they expect to be involved.
The ‘Secretive’ and High-Tech Trading Firm Jane Street is Flipping Bitcoins
The trading firm Jane Street operated in New York City, London and Hong Kong and the company actively trades $ 8-13 billion worth of equities, Bonds, Futures, Options, and other investments. Jane Street claims to execute over 1Mn trades per day. The New York Times has referred to Jane Street as one of the most secretive firms out there that handles a lot of trade volume. The news outlet called the traders “coders with a Ph.D.” and the firm specializes in lots of arbitrage trades. According to Business Insider, the firm has explained it is now dabbling in BTC trading.
Arbitrage opportunities in the world of cryptocurrencies and bitcoin are very tempting to firms like Jane Street because spreads can be very high on different trading platforms. Global BTC exchanges can have as much as 10 percent in arbitrage opportunities between each trading venue. Jane Street has not given any details on how it has been trading BTC but explains that if cryptos continue to be hot, the company will continue to remain active.
“Jane Street trades over 56,000 products globally across a wide variety of asset classes, including bitcoin,” the company explains this week.
Jane Street has always taken a considered approach to trading opportunities and will continue to do so, as more cryptocurrency products emerge, we expect to be involved.
Jane Street Follows Other Well Known Wall Street Market Makers
The news also follows other big-name Wall Street firms who have been reportedly trading bitcoin or crypto-based exchange-traded notes and futures products. This year at the World Economic Forum in Davos, Goldman Sachs Lloyd Blankfein explained if clients want to trade BTC they will help facilitate. “We’re clearing futures in bitcoins for some of our futures clients — We’d clear them,” explains Blankfein. “We’re a prime broker, and so if our clients are going to do it, we’re going to do it.”
Back in September of 2017, Jamie Dimon explained that bitcoin traders were “stupid.” But the firm was caught red-handed trading BTC exchange-traded notes for clients. Further, the company has stated it is open to offering clients CME and Cboe bitcoin futures.
Jane Street is different than JP Morgan and Goldman as it uses the Ocaml programming language that helps the firm’s traders quickly execute trades in changing market conditions. The company has even released some open source code for its Ocaml libraries. Jane Street did not reveal to the press how it was actively trading cryptocurrencies.
What do you think of Jane Street trading bitcoin? Let us know what you think about this story in the comments below.
Images via Shutterstock, Pixabay, and Jane Street.
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Stocks opened slightly higher Monday on Wall Street, led by gains in retailers and technology companies.
Starbucks rose 1.4%. Micron Technology rose 5.3%.
Several stocks were moving on deal news.
Johnson Controls was up 1.6% after saying it would consider selling a business that makes batteries…