Category: N-Economy
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CFTC-Regulated Ledgerx Launches Interest-Bearing BTC Savings Platform
This week the firm Ledgerx announced the soft launch of its ‘Ledgersavings’ platform, a new service that allows users to deposit bitcoin core (BTC) and accrue interest on the deposit over a variety of maturation periods. The CFTC-regulated company explains the new savings program will allow clients to gain an annualized return of roughly 16 percent, even…
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SEC Postpones Decision on Vaneck Solidx Bitcoin ETF but Previous Concerns ‘Resolved’
The U.S. Securities and Exchange Commission (SEC) has extended the time period it needs to make a decision on the Vaneck Solidx bitcoin ETF based on the proposed rule change filed by Cboe BZX Exchange. Meanwhile, the ETF team has submitted to the SEC key changes addressing all concerns cited as reasons for rejecting Solidx…
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Bitmain Launches Key Crypto Mining Facility in Texas
Bitmain Technologies Ltd. is launching a crypto mining facility and blockchain data center in the U.S. state of Texas at a former aluminum smelting facility with a recently-retired coal power station. The company is reportedly getting a tax abatement phased in over 10 years. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Crypto Mining…
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Exchanges Round-Up: Coinjar Launches Aussie Crypto Fund, Square Trades OTC
In recent news pertaining to virtual currency exchanges, Coinjar has launched Australia’s first cryptocurrency index fund; Square’s latest quarterly report has revealed that company is executing its crypto trades via the over-the-counter (OTC) markets rather than “public cryptocurrency exchanges;” and Poloniex has launched EOS pairings. Also Read: SEC Has No Jurisdiction to Look at Bitcoin for…
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SEC Has No Jurisdiction to Look at Bitcoin for ETF Decision, Admits Commissioner
A commissioner of the U.S. Securities and Exchange Commission (SEC) has voiced her opinion that the agency overstepped its bounds to reject a bitcoin ETF recently based on the underlying asset, bitcoin. She believes that the role of the SEC is to consider the market for the ETF, not the underlying asset itself. Also read: Yahoo!…
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Many Swiss Bankers and Financial Regulators Quit to Join the Crypto Space
A lot of people in Switzerland have left the traditional financial sector to work in the crypto space, in which the banking nation is now developing a niche market. The Swiss banks don’t show enthusiasm officially, but they massively have interests in dealing with Bitcoin, insiders say. Also read: Switzerland’s Main Stock Exchange Dives Deep Into…
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Bank of Thailand Green-Lights Financial Companies for Crypto Activities
Thailand’s central bank has announced the rules under which financial institutions, including commercial banks, and their subsidiaries can engage in cryptocurrency activities. They include securities, asset management, and insurance firms. This follows the country’s crypto regulatory framework that went into effect last month. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Circular, New…
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‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help
South Korean police have asked Interpol for help with an investigation into the fraudulent token sale of Shinil Gold Coins that were claimed to be backed by the “treasure” on the sunken Dmitrii Donskoi. Local media reported that the sale raised an estimated $53.5 million from about 124,000 investors. Also read: Yahoo! Japan Confirms Entrance Into the Crypto…
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Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves
South Korean exchange Bithumb has resumed deposit and withdrawal services for a number of cryptocurrencies after the recent hack. Another major Korean exchange, Upbit, has released an audit report showing more crypto and cash reserves than needed to pay customers. Meanwhile, all customer deposits at Korbit will now be held by a bank. Also read: Yahoo!…
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Japanese Association Seeks Authority to Enforce Self-Regulation on Crypto Exchanges
Japanese crypto exchanges may soon have an official self-regulatory body. The Japan Virtual Currency Exchange Association has applied with the country’s financial regulator to become the authority for self-regulation, with the power to enforce rules on its crypto exchange members. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Registering with FSA The Japan Virtual…