Monthly Archives: July 2018

Central Bank of the Philippines Accredits Two New Crypto Exchanges

The central bank of the Philippines has approved applications from two new crypto exchanges, allowing them to convert Philippine pesos into virtual currencies The Philippine central bank, Bangko Sentral ng Pilipinas (BSP), has approved applications filed by two new cryptocurrency exchanges, news outlet Business World reported July 6. The Deputy Governor of the BSP Chuchi G. Fonacier reportedly said that Virtual Currency Philippines, Inc. and ETranss have been accredited as platforms, which allows them to convert Philippine pesos into virtual currencies. With this move, the two exchanges […]

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Germany’s Finance Ministry: State-Issued Digital Currency Has ‘Not Well Understood’ Risks

The German Federal Ministry of Finance thinks issuing a central bank digital currency has too many unforeseen risks to justify its implementation. The German Federal Ministry of Finance considers the concept of a central bank-issued digital currency (CBDC) to be too risky to implement, Cointelegraph auf Deutsch reported July 5. The finance ministry expressed its position in response to an inquiry by Green Party MP Gerhard Schick published business newspaper Handelsblatt Wednesday, July 4. “So far there are no convincing reasons for issuing digital central bank money […]

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Europe’s Top Speed Trading Firm Flow Traders Joins the Crypto-Economy

This week one of Europe’s largest speed trading platforms and exchange-traded fund (ETFs) dealers, Flow Traders NV, announced the firm is entering the cryptocurrency space by offering bitcoin and ethereum exchange-traded notes (ETNs) to its clientele. Also read: Switzerland Considers Granting Crypto Businesses Access to Banking Services Speed Trading Platform Flow Traders Enters the Cryptocurrency Trading Ecosystem The Amsterdam market maker, Flow Traders, provides liquidity to its customers by providing traders bid and offer prices for Exchange Traded Products (ETPs). Flow Traders was founded in 2004 and has […]

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Bitmain Receives $12 Bln Investment in a Recent Funding Round

Bitmain has received $12 billion in investment following the recent closing of a Series B funding round Leading Bitcoin (BTC) mining company Bitmain is now valued at $12 billion following a Series B round of funding, local news outlet Caixin reports July 6. According to Caixin, Bitmain raised between $300 million to $400 million from Sequoia Capital subsidiary Sequoia China, U.S. hedge fund Coatue, and Singapore-based governmental investment fund EDBI. In September 2017, Beijing-based Bitmain received $50 million in a Series A funding round from Sequoia Capital […]

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Here’s What You Pay in Taxes for Using Crypto: From the US to Switzerland

On June 25, Japan’s Minister of Finance suggested that the current tax rate for crypto could be altered. On June 25, Japan’s Minister of Finance, senator Fujimaki suggested that the current tax rate for crypto transactions in the country, which goes up to a maximum of 55 percent, could be swapped with a 20 percent flat tax similar to stocks or forex trades. While Japan is unsure if the current tax framework should lose its progressive scale — mentioning “tax fairness” as one of the arguments in […]

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Markets Update: Cryptocurrency Prices Rebound During the First Week of July

Cryptocurrency markets are doing better this week since our last markets update as the entire digital asset economy is now valued at around $270.4Bn. Most digital currencies are up between 7-25 percent over the last seven days and trade volumes have picked up over the last week as well. The trend reversal has given enthusiasts and traders a bit more optimism as most cryptocurrency markets seem to be rebounding back from the recent correction of close to 70 percent since the highs last December. Also read: Yahoo! […]

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Swiss Stock Exchange Operator Plans to Launch Crypto Exchange

SIX, the firm that operates and owns the Swiss stock exchange, has announced plans to launch a fully regulated digital cryptocurrency exchange. The firm says it plans to launch “the first market infrastructure in the world” which will “offer a fully integrated end-to-end trading” while providing a safe environment where digital assets can be issued and existing securities and non-bankable assets can be tokenized. The new crypto exchange will be called SIX Digital Exchange (SDX), and it plans to rollout its services in mid-2019. SIX Head Securities […]

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France’s ‘Monsieur Bitcoin’: We Should Not Directly Regulate Cryptocurrency

The head of a cryptocurrency working group under the French government has released a report advising not to over-regulate cryptocurrency. France’s “Monsieur Bitcoin” Jean-Pierre Landau released an initial report into cryptocurrency July 5, claiming it was “neither desirable nor necessary” to regulate the technology. Government official and academic Landau consciously compares “technological” and “financial” innovation in the report, which runs to over one hundred pages. Some of the conclusions may come as a surprise to industry commentators, Landau arguing that over-regulation of cryptocurrency would constitute a “three-pronged […]

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Crypto Markets See Mixed Signals But Remain Stable, Bitcoin Pushes $6,700

Crypto markets hold recent gains, with most coins fluctuating mildly, Bitcoin holding around the $6,600 price point. Crypto markets continue to see mixed signals, but hold recent gains today, July 6, according to data from Coin360. All but one of the top ten coins on CoinMarketCap are seeing only minor fluctuations over the past 24 hours to press time. Market visualization from Coin360 Bitcoin (BTC) is challenging $6,600, trading at $ 6,650 at press time, up just about 1 percent over the 24-hour period. The leading cryptocurrency […]

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Huobi Launches in Australia Offering 10 AUD Pairs

Crypto exchange Huobi has started trading in Australia with 10 pairs against the AUD, including bitcoin cash (BCH). More trading pairs will be added in the future. The platform also plans to partner with local startups through its investment fund and a subsidiary. Also read: Switzerland Considers Granting Crypto Businesses Access to Banking Services Huobi Starts Trading in Australia Cryptocurrency exchange Huobi has announced it is launching in Australia. Ten pairs against the Australian dollar (AUD) are supported from Thursday, July 5. These include bitcoin core (BTC), […]

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