Tag: aimed

Crypto Exchange Binance Launches New Platform Aimed at Institutional Investors

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Binance has announced the launch of a new platform specifically built for VIP clients and institutional crypto investors. The world’s largest exchange by trading volume says that Binance Institutional is aimed at leveling up its products and services for institutional investors, asset managers, brokers, hedge funds, family offices, proprietary trading firms, liquidity providers, high-net-worth individuals and mining companies. Binance Institutional provides a range of proprietary offerings, including support for trading on credit, over-the-counter services for trade sizes of at least $200,000, yield products for clients and other professional services. Binance…

ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

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The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency. In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock Exchange, or NYSE, starting Tuesday under the ticker BITI. The vehicle will allow U.S. investors to bet against Bitcoin (BTC) using futures contracts, given the cryptocurrency’s performance in a single day as measured by the Chicago Mercantile…

Payments Firm Stronghold Launches $100M Investment Fund Aimed at Fintech and Web 3

“Stronghold Capital will create opportunities to develop new products and business models that improve financial infrastructure for everyone,” said Tammy Camp, CEO of Stronghold, in the press release. Camp will also be the fund manager for the new capital arm. “Identifying and investing in emerging talent – especially underrepresented and undervalued founders – stands to benefit the developer community, the fintech industry and even society as a whole.” Source

Crypto innovators of color restricted by the rules aimed to protect them – Cointelegraph Magazine

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Historically, Black and Brown communities have had restricted access to opportunities for generational-wealth building. Crypto offers a chance to redress that balance… but an opaque mess of laws and regulations around crypto services and a prohibition on certain wealth-generation opportunities are standing in the way of that happening.  Controversial language in the United States’ recently enacted infrastructure bill may have unintentionally contributed to that cycle. The document contains broad tax-reporting language directed at “brokers.” The ambiguity of the term means it could apply to those who have nothing to do…

Canadian MP introduces bill aimed at encouraging growth in crypto sector

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Michelle Rempel Garner, a member of the House of Commons of Canada, has introduced a bill proposing the government set up a framework to encourage the growth of the cryptocurrency sector in the country. In the first reading of Bill C-249 in the House of Commons on Wednesday, Garner proposed having Canada’s Minister of Finance — currently Chrystia Freeland, a member of the country’s Liberal Party — consult with industry experts to develop a regulatory framework aimed at boosting innovation around cryptocurrencies. The bill, titled the “Encouraging the Growth of…

17 Crypto Firms Form a Market Integrity Coalition Aimed at Bolstering a Sensibly-Regulated Industry – Bitcoin News

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On February 7, 2022, a group of 17 digital asset companies revealed they formed an organization called the Crypto Market Integrity Coalition (CMIC). The well-known firms include crypto companies like Coinbase, Circle Internet Financial, Huobi Tech, Bitmex, Cryptocompare, and Solidus Labs. The newly formed group says the coalition is “committed to a safe and sensibly-regulated crypto industry.” Leading Digital Asset Firms Launch a Crypto Market Integrity Coalition 17 crypto companies and organizations have announced the launch of an advocacy group called the Crypto Market Integrity Coalition (CMIC). The coalition’s announcement…

Major crypto firms and groups form coalition aimed at promoting ‘market integrity’

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Several cryptocurrency exchanges and advocacy groups across different countries have banded together to form a coalition intended to fight market manipulation. In a Monday announcement, market surveillance firm Solidus Labs and exchanges including Bitstamp, Coinbase, BitMEX and CrossTower said they would be launching the Crypto Market Integrity Coalition, or CMIC, asking all other companies involved in the crypto space to follow their example. According to the CMIC, members must pledge to encourage “a fair digital asset marketplace to combat market abuse and manipulation and promote public and regulatory confidence” in…

US lawmaker proposes bill aimed at limiting Fed’s ability to issue CBDC

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Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar. In a Wednesday announcement, Emmer said the bill would prohibit the Fed from issuing a central bank digital currency, or CBDC, directly to U.S. consumers. According to the Minnesota representative, having the government entity require users to open accounts to access the benefits of a digital dollar would “put the Fed on an insidious path akin to China’s…

South Africa’s financial regulator plans to introduce framework aimed at protecting vulnerable crypto investors: Report

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Unathi Kamlana, the commissioner of South Africa’s Financial Sector Conduct Authority, has reportedly said the government’s rollout of a crypto framework would be aimed at mitigating any potential risks. According to a Friday report from Bloomberg, Kamlana said the financial regulator planned to present a regulatory framework early in 2022 intended to protect investors from “potentially highly risky” crypto assets. The commissioner said any framework on crypto would be created in coordination with the Prudential Authority and Financial Surveillance Board of the South African Reserve Bank. “What we want to…