A Silicon Valley backed environmental startup has said cryptocurrency would be the legal tender for its proposed new floating island city project. The project according...
The four companies that have been authorized to conduct operations with cryptocurrencies in New York state include Coinbase, bitFlyer, Ripple and Circle Internet Financial. Genesis Global Trading became the fifth owner of BitLicense in New York.
The Financial Supervision Service FSS of South Korea will listen to the position of G20 in the issue of regulating cryptocurrency and can recognize them as financial assets.
Based in Hong Kong, the Bitfinex Exchange has sent letters to its users asking for information about their tax residency. Information was officially confirmed by the representatives of the site.
Head of the London financial department JPMorgan Chase & Co Oliver Harris will be responsible for the bank's cryptocurrency strategy, as well as lead the project developed by the organization Quorum, aimed at creating its own blockchain platform.
The U.S. Justice Department has announced that it is exploring new ways of enforcing regulation in digital currency trading. Speaking at a conference in Manhattan...
One of the most recognized crypto exchange Coinbase has unveiled today 15th of May their plan to attract big institutions into the cryptocurrency and blockchain world. With the offering of a couple of products like “Coinbase Prime” that will target the institutional investors with sophisticated trading and data tools. This new trading platform will be separate from their well known GDAX exchange. Their general manager Adam White has stated: “At Coinbase, we welcome these developments as they help accelerate the world’s adoption of cryptocurrency by bringing new capital, greater awareness, and additional infrastructure to the space. This movement requires institutional grade products and services, something Coinbase has been developing with leading institutions and which we are proud to formally launch today”. Another product that was announced was “Coinbase Markets”. It is the company’s brand new electronic marketplace that will be managed from their new Chicago office. This will provide a centralized liquidity pool, putting all of the company’s products in one place. “In the past few months, over 100 hedge funds announced plans to trade and invest in cryptocurrency, signaling heightened interest from institutional clients and financial services professionals for a source of liquidity and custody for their digital assets” the company has stated. Officially has been confirmed that the company is launching the Custody service in partnership with ETC, which is a SEC-regulated broker-dealer. This service provides a special level services to enable institutions to keep their coins with Coinbase. It is an effort to go beyond and offer a higher standard of service in the level of what institutions require. “We have leveraged our experience safely storing more than 20 billion dollars of cryptocurrency to create Coinbase Custody, the most secure crypto storage solution available,” said Coinbase’s general manager Adam White in their statement blog. And the last but not least is the Coinbase Institutional Coverage Group. This product was designed for special type of customer service that banks need. This group will be operated from Coinbase’s New York City office. These announcements from Coinbase come at a special time when big banks like Goldman Sachs have been making prepares to launch their attack into the crypto sphere. For companies like Coinbase this is a clear sign that they also need to step up their game and build all of the necessary tools and infrastructure to accommodate the needs of the big players in the traditional finance sector. There have been also attempts of others like Circle. A small firm that offers new and inventive products called block trading which is a tool for helping institutions to make large transactions. There is also the Robinhood app, a popular choice for millennials that very recently had announced their big plans for transforming the cryptocurrency trading experience and bringing it to a whole other level. The statement of Adam White the general manager of Coinbase also confirms this: “We think this can unlock 10 billion dollars of institutional investor money sitting on the sideline. We are seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.”
Ripple Xpring project has been launched for financial support to companies developing products and services for XRP.
Bloomberg, referring to the statement of Brian Quintenz, the representative of the Commodity Futures Trading Commission of the United States (CFTC), writes that Federal agencies need to determine the legal Ethereum status as soon as possible.
While the Hilton Midtown Hotel was preparing for the reception of the large-scale blockchain conference Consensus 2018, an unusual action took place on the adjacent streets - bankers protested against bitcoin.