Shenzhen’s stock exchange, one of the biggest exchanges in the Asia-Pacific region, announced that they have co-launched a blockchain solution for trading with unlisted private-sector companies. This new platform was created as part of the Beijing Regional Trading Center. The report also indicated that the platform will be co-piloted with the Beijing Fourth Board Market, or BFBM — the city’s regional equity market. Both groups expect to “reduce the cost of information asymmetry, standardize corporate equity management, and better play the function of market equity financing” by integrating blockchain technology. Ge…
Day: October 1, 2020
Penn State set to host its own node for an enterprise blockchain
Penn State, a U.S. university touting more than 40,000 students, has agreed to operate as a signing node for GoChain’s proof-of-reputation, or PoR, blockchain. Constructed as a fork of the Ethereum blockchain’s code, GoChain is secured by selected entities who run their own nodes, Marie Gonzalez, GoChain’s senior vice president of marketing, told Cointelegraph. GoChain’s blockchain uses a consensus mechanism called PoR, which calls on a set number of approved signing nodes to help run the network. The blockchain aims to eventually function with 50 of these nodes. “We set the…
Bittrex Global gets cleared to run crypto exchange from Bermuda
Crypto exchange Bittrex Global received the green light from Bermuda’s financial watchdog to run its operations under the supervision of local authorities. According to the official announcement, the company got a full “Class F Digital Assets Business Act” license from the Bermuda Monetary Authority, or BMA, which will allow them to offer crypto services such as futures, subject to further approval by the watchdog. Bermuda’s positive regulatory stance towards crypto comes within the context of the Digital Assets Business Act approved in 2018. This established the first legal framework for…
Bitcoin Slips $400 as CFTC Charges BitMEX Over Derivatives Violations
Bitcoin is tumbling lower after it was revealed that the U.S. Commodities and Futures Trading Commission (CFTC) is charging BitMEX. BitMEX is a leading crypto derivatives platform based in the Seychelles. The U.S. regulatory agency, which focuses on derivatives, was rumored to be investigating the company. In 2019, Bloomberg came out with a report suggesting that the CFTC was investigating the company over its potential servicing of U.S. clientele. The exchange does not have the license to operate in the U.S., and the CFTC has taken action against Bitcoin and…
CFTC charges BitMex with illegally operating derivatives exchange
The U.S Commodity Futures Trading Commission, or CFTC, has charged the BitMEX derivatives exchange with operating an unregistered trading platform and violating anti-money laundering regulations. According to a statement released Thursday, the CFTC filed a civil enforcement action in the Southern District of New York against five entities and three individuals who allegedly own and operate the exchange. The individuals charged include Arthur Hayes, publicly known as the CEO of BitMEX, as well as Ben Delo and Samuel Reed. The CFTC alleges that these individuals are owners and operators of…
IBM executive says blockchain becoming a useful ‘real business tool’
It was just a few years ago that enterprises began showing interest in using blockchain as a technology to bring trust, transparency and better collaboration to multiple entities sharing sensitive business data. Yet as the blockchain space has matured, more companies have started to view blockchain less as a technology and more as an important business tool for digitalization. IBM Blockchain’s general manager, Alistair Rennie, noticed this evolution earlier this year. Cointelegraph had the pleasure of speaking with Rennie to learn more about the evolving enterprise blockchain landscape, how blockchain…
Australian Securities Exchange to triple capacity of DLT system
The Australian Securities Exchange will delay its blockchain-based CHESS replacement after huge trading volumes due to the pandemic required a massive expansion of capacity. The DLT- based system had been scheduled for official trials in December, with a planned launch window of early 2022. At its annual meeting this year, ASX chief executive Dominic Stevens told shareholders they were looking to triple the capacity of its planned DLT system based on the surge in trade volumes seen earlier in March. He also said that the firm was looking into how…
Australian government’s digital business plan includes $5M for blockchain
The Australian government this week unveiled its $574 million Digital Business Plan that includes seven-figure grants for distributed ledger technology initiatives. Announced by Prime Minister Scott Morrison ahead of next week’s Federal Government budget, the plan outlines $4.95 million in support for “two blockchain pilots directed at reducing business compliance costs.” Morrison said: “The plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses, and backs the uptake of technology across the economy.” Piper Alderman partner Michael Bacina told Cointelegraph that these two projects…