Bitcoin 

Central Bank Of Mexico To Tightens Regulations For Cryptocurrency Exchanges

The circular, published on the government’s official daily, Diario Oficial de la Federación, says that crypto exchanges and related businesses will need to provide the financial institution with a detailed business plan that explains its operations, commissions, business model, and know your customer (KYC) checks. Therefore, the Bank of Mexico (Banxico), Mexico’s central bank, has recently revealed through a circular that bitcoin exchanges and other businesses dealing with cryptocurrency assets in the country will require a government permit. The institutions of electronic payment funds must request an authorization from the…

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Bitcoin 

Cryptocurrency Exchange OKCoin Trading Platform to 20 More U.S. States

The headquartered in San Francisco, OKCoin’s U.S. offshoot announced on Wednesday that it has received regulatory approval to expand into 20 new states, greatly expanding its reach into one of the world’s largest crypto markets. It’s been nearly one year since one of the world’s largest cryptocurrency exchanges was forced to shut its doors in the wake of a government-imposed trading ban. Now, that exchange, the formerly China-based OKCoin, is eying a comeback on the other side of the globe. In order for the cryptocurrency market to reach its full potential, exchanges like…

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60% Bitcoin Dominance Eyes as Flounders Ethereum Price

As of today, bitcoin holds 56.72% of the market compared to ethereum’s 12.62%, according to CoinMarketCap. Bitcoin’s price woes of the past month have not been enough to compromise its market dominance, largely because ethereum’s struggles have been disproportionately fiercer.   The recent fallout in altcoin prices, particularly ethereum, has boosted bitcoin’s dominance of the crypto market, now commanding nearly 60% of market share. None of the other altcoins have been a factor in the historic bitcoin/ethereum rivalry for crypto market dominance, a rivalry that has consistently favored bitcoin.  …

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A Bitcoin Mutual Fund Was Just Approved In Canada

Bitcoin Mutual Fund Was Just Approved In Canada, Today, for the first time in Canada, accredited investors working with investment advisors can seamlessly take positions in bitcoin through the FBC Bitcoin Trust, said Joe Schmitt, president and CEO of NEO. As the world evolves, we are very pleased our unique fund distribution platform can help the investment community access, with ease and efficiency, an ever-expanding spectrum of new and innovative asset classes.   “At First Block, we provide investment exposure to bitcoin by removing the complicated barriers to investing directly in the…

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Central Bank Of South Africa Wins Award For Its Ethereum Blockchain

Ethereum Blockchain Award, The South African Reserve Bank designed and executed Project Khokha in under three months to test the proficiency, resilience, confidentiality, finality and scalability of a DLT solution for processing transactions under realistic conditions on a wholesale payment system. The bank used JP Morgan Chase’s Quorum network with Istanbul Byzantine fault tolerance and Pedersen commitments and range proofs.   Central Banking, a global central banking forum, has bestowed its FinTech & RegTech Award for Best Distributed Ledger Initiative to South Africa’s central bank for its successful Project Khokha,…

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Cryptocurrency Bitcoin 

Philippines Regulators Prepare to Publish Cryptocurrency Trading Platforms

Cryptocurrency exchanges in the Philippines could soon operate as regulated trading platforms as authorities proactively seek to both protect investors and enable an inclusive ecosystem for cryptocurrencies to flourish in the country.The head of the Philippines’ Securities and Exchange Commission (SEC) is targeting draft rules for domestic cryptocurrency exchanges within weeks ahead of finalizing regulations later this year. The official was speaking to reporters after an SEC meeting on Thursday when he revealed that the authority is in talks with the Bangko Sentral ng Pilipinas (BSP) – the country’s central…

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Bitcoin 

Blockchain Integration to 2021 Delays By Australia’s largest Stock Exchange

Blockchain Integration, The exchange operator revealed that feedback from 41 written responses from stakeholders including payment providers, clearing and settlement participants, market operators, share registries, brokers and more offered “general support” for the blockchain-powered revamp, the common view was that the ASX is being aggressive with its timelines for integrating the decentralized technology. The Australian Securities Exchange (ASX) has postponed the integration of its blockchain post-trade settlements system from late 2020 to Q1 2021 in response to concerns from stakeholders.   In a report [PDF] published on Tuesday, the ASX…

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Bitcoin 

In 2018 Bitcoin to Hit $20k Despite Struggle of Emerging Markets : Tom Lee

Lee stated that over the past year, Bitcoin, which has failed to show a correlation with the broader financial market and traditional assets like gold, has demonstrated a similar mid-term price movement as emerging markets. Fundstrat’s Tom Lee, a Bitcoin permabull known for his optimistic price targets for the dominant cryptocurrency, has said that Bitcoin will likely end the year explosively higher possibly at $20,000.   Specifically, Lee discussed emerging markets ETFs like iShares MSCI Emerging Markets Index ETF, which enables investors to allocate funds into a diverse portfolio of…

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EU Regulators to Discuss New Cryptocurrency Regulations

Cryptocurrency Regulations, The informal gathering, according to the EU’s draft note, will witness a broad discussion about current policy issues relevant to financial and economic affairs. The Finance Ministers of 28 European countries on September 7 will meet in Vienna to discuss new rules for the locally emerging cryptocurrency sector.   Bloomberg, which claims to have read the meeting agenda in person, reports that the EU ministers will echo their concerns over “a host of challenges” posed by the popularity of cryptocurrencies like Bitcoin. They include crypto’s potential of being used by online criminals…

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For Arms Exports Gold Linked Cryptocurrency, Suggests Russian Lawmaker

For Arms Exports Gold Linked Cryptocurrency, Suggests Russian Lawmaker, A senior Russian lawmaker has suggested that Moscow should turn to cryptocurrency, backed by gold, for payments in Russian arms exports to evade financial sanctions from the west. Prominent lawmaker Vladimir Gutenev, first deputy head of the economic policy Committee at the State Duma (the Russian Parliament’s lower chamber), has urged the Kremlin to suspend treaties with the United States amid an escalating policy-war. In April, the Trump administration talked up new sanctions against Russia as punishment for the latter’s involvement…

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