Day: November 2, 2018

Bithumb and seriesOne Partner to Launch U.S. Securities Token Exchange

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Aiming to create an SEC and FINRA-compliant U.S. exchange, blockchain-based crowdfunding firm seriesOne and crypto exchange Bithumb have formed a joint venture. According to an announcement made on November 1, 2018, officials behind the venture look to trade security tokens within a “compliant marketplace” and within the context of “other applicable regulatory approvals.” For South Korea-based Bithumb, the venture provides the exchange with new expertise around U.S. regulation. seriesOne, a company created by finance industry veterans in the tech, investment banking, venture capital and compliance sectors, operates a U.S. platform…

Coinsource Receives BitLicense to Operate Bitcoin ATMs in New York

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Bitcoin ATM Operator Coinsource has been granted a BitLicense by the New York Department of Financial Services (NYDFS). Based in Texas, Coinsource deploys Bitcoin ATMs to key population centers across the world with over 200 machines installed in the U.S. alone. CEO of Coinsource Sheffield Clark called the announcement a “landmark day for Coinsource” and an “important win for New Yorkers” in a statement. In an interview with Bitcoin Magazine, Clark noted that he sees the “license as validation of not only our tireless efforts to offer Americans easy, convenient…

Op Ed: 10 Takeaways From Recent French Guidance on Blockchain and the GDPR

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“The GDPR, and more generally the classical principles of personal data protection, were conceived in a world where the management of data was centralized within specific entities. In this regard, the decentralized model of data governance embodied by blockchain and the multiplicity of actors involved in the processing of data complicate the definition of the roles of each one.” Blockchain: Premiers éléments d’analyse de la CNIL (unofficial translation). In late September 2018, France became the first EU member state to release official guidance on the complicated interplay between the General…

Unchained Capital Revamps Loans With Multi-Party, Multi-Sig Storage

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Blockchain financial service company Unchained Capital will now offer multi-signature and multi-institution cold storage solutions for borrowers who leverage its crypto-collateralized loans service. According to a company statement, the cold storage solution will be multi-institution and collaborative with code-level controls for the safe storage of cryptocurrencies. Earlier this year, Unchained closed a $2.9 million round of venture funding to fuel the innovation in its wealth management and financial services offerings for long-term crypto investors. Unchained Capital offers loans to individuals and businesses, accepting only bitcoin (BTC) and ether (ETH) as…

Tether Confirms That It Is Banking With Bahamas-Based Deltec

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Tether Limited is back in the news; this time, it has confirmed a banking relationship with a financial institution based out of the Bahamas. The issuer of the controversial USD-pegged stablecoin tether (USDT) announced its partnership with Bahamas-based Deltec Bank & Trust Limited. Tether went a step further by publishing an attestation letter from the bank, showing evidence of its reserves. In a blog post on its website, Tether stated that Deltec accepted it as a client after a “due diligence review” was carried out, which included an assessment of…

Hong Kong Securities Regulator Promises to Regulate Crypto Investment Funds

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The Securities and Futures Commission (SFC) of Hong Kong has claimed that it will include crypto funds under its regulatory umbrella. The SFC issued a statement on November 1, 2018, laying out its new approach for regulating virtual assets in the future. The SFC granted that there are many inherent risks in investing in a new space like cryptoassets and set out to address these risks through new regulatory action. The statement showed a willingness to adapt the existing regulations around investing to conveniently and decisively affect crypto as well,…

Ripple Price Analysis: Buy Dips In XRP/USD Near $0.4500

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Key Highlights Ripple price gained bullish momentum and broke the $0.4500 resistance area against the US dollar. There is an ascending channel formed with support at $0.4540 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains well supported on the downside near the $0.4540 and $0.4500 levels. Ripple price bounced back nicely against the US Dollar and Bitcoin. XRP/USD has moved into a bullish zone and it could break the $0.4620 resistance zone. Ripple Price Analysis Yesterday, we saw a decent upward move above…

Bakkt to Lead Bitcoin Recovery, Feb 2019 ETF Denial Crashes BTC: Analyst

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Twitter Facebook LinkedIn Alex Krüger, a well-recognized cryptocurrency trader and technical analyst, has said Bakkt will lead the recovery of Bitcoin throughout 2018 and the first quarter of 2019. But, Krüger explained that the rejection of the Bitcoin exchange-traded fund (ETF) filing of VanEck, SolidX, and Chicago Board Options Exchange (CBOE) will lead to the crash of Bitcoin, possibly back down to the $6,000 support level and in worst case scenario, to the $4,000 region. “Possible outlook for BTC: First, bull run on BAAKT & renewed ETF approval narrative early…

Ethereum Price Analysis: ETH/USD Turned Bullish Above 100 SMA

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Key Highlights ETH price traded further higher and broke the $198 resistance against the US Dollar. This week’s followed important bearish trend line was breached with resistance at $197 on the hourly chart of ETH/USD (data feed via Kraken). The pair could dip a few points, but it is likely to find support near $196 and the 100 hourly SMA. Ethereum price is slowly moving higher against the US Dollar and bitcoin. ETH/USD may perhaps recover further towards the $203 resistance in the near term. Ethereum Price Analysis After dipping…

Blackrock CEO: Crypto Still Lacking Legitimacy, Bitcoin ETF Will Have To Wait

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Blackrock CEO Larry Fink Still Skeptical On Crypto, Bitcoin ETF While discussion regarding Bitcoin-backed exchange-traded funds (ETFs) have begun to slow, the chief executive of BlackRock, a multinational America-based financial institution, recently claimed that he is hesitant to allow his firm to offer a Bitcoin ETF due to the current state of cryptocurrency markets. BlackRock, the world’s largest asset manager, is avoiding a bitcoin ETF until cryptocurrencies become “legitimate.” https://t.co/DFpaSHo0ag — CNBC (@CNBC) November 1, 2018 Speaking with CNBC at Manhattan’s New York Times Dealbook Conference on the matter, Larry Fink, the…