Binance US Plans to Commence Customer Onboarding Next Week
Binance, the largest crypto exchange by volume is making its U.S. debut next week.
Binance.US said today that the platform will open registration and deposits on September 18. According to a company blog posting, the launch will initiate a rollout of multiple Binance products across the U.S.
After registration, six cryptocurrencies will be available for deposits including bitcoin, ethereum, XRP, bitcoin cash, litecoin, and tether.
Trading will commence later at an undisclosed date.
Based out of San Francisco, Binance.US was announced earlier this year. Residing officially in Malta, Binance has physical locations in Jersey, Singapore, Hong Kong, and Uganda. (Positive)
Switzerland Open to International Cooperation on Libra, Says Watchdog
Switzerland’s financial watchdog says it is open to international cooperation and oversight of the way in which it regulates Facebook’s planned cryptocurrency network Libra.
Financial Market Supervisory Authority (FINMA) director Mark Branson said it was illusory to believe that a single country could regulate a project of Libra’s scope on its own.
The country has a robust regulatory and supervisory framework that can address the needs of major legacy financial players — and equally, therefore, those of ambitious new fintech projects, he said.
Branson noted that FINMA does not need foreign pressure to recognize the major challenges that a project of Libra’s scale poses for regulators: “It was crystal clear from the start that this project could have huge dimensions and implications,” he said.
Just as the supervision of large Swiss banks such as UBS or Credit Suisse does not take place in complete isolation, he added, so a project of Libra’s global significance can only be tackled through international coordination and consultation.
Branson also underscored that FINMA’s approach to market regulation is both principle-based and technology-neutral, meaning that Libra, “fits perfectly into our regulatory framework”:
“Switzerland […] does not regulate all forms of institutions and products down to the last detail […] We have just published a guide on how to classify stablecoins under Swiss law. And we show: it does not need new laws. The risks are well known, for example regarding money laundering, customer protection, system stability. There are already regulations for all of these.” (Neutral)
Bank of New York Mellon Appointed as Transfer Agent for Proposed Bitcoin ETF
Bank of New York Mellon has been appointed to serve as transfer agent and administrator of Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).
On September 11, Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC). The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.
Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to allow the listing by U.S. financial regulators.
In January 2019, Bitwise filed its proposed rule change to the Securities Act of 1933 to list its Bitcoin ETF on NYSE Arca. Since its filing, the ETF has experienced a circuitous series of delays from regulators, who are still nervous about the potential for manipulation in cryptocurrency markets and its subsequent effect on a hypothetical Bitcoin ETF. Most recently, the SEC delayed its decision on the Bitwise ETF to October 13. (Neutral)
Posjetite našu Mjenjačnicu kriptovaluta
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