Coinbase Gets E-Money License In Ireland, Expanding European Foothold
Coinbase is expanding its European foothold with an e-money license from the Central Bank of Ireland.
On Oct. 11, Zeeshan Feroz, the CEO of the United Kingdom arm of San Francisco-based cryptocurrency exchange Coinbase, announced that the exchange had become “one of just a few companies,” to have received an e-money license in Ireland.
Coinbase opened its first office in Dublin, Ireland, in October 2018 to help expand its operations in Europe and as a contingency plan for when the U.K. leaves the EU. The Coinbase U.K. CEO said:
“Europe represents a huge opportunity for Coinbase and today’s announcement is another positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA.”
Martin Shanahan, CEO of IDA Ireland reportedly congratulated Coinbase on receiving the e-money license from the Central Bank. IDA Ireland is the Irish state agency responsible for attracting foreign investment to the country. (Positive)
Telegram Responds to Investors on SEC Action
Telegram Open Network (TON) developers responded to its investors after American regulators abruptly announced that its $1.7 billion token sale was illegal.
The firm has been trying to solicit feedback from the United States Securities and Exchange Commission (SEC) for the past 18 months regarding the TON blockchain and does not agree with the recent action. It wrote:
“We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC’s legal position.”
Telegram stated that they are continuing to assess the best ways to resolve the situation in the interests of relevant parties, including but not limited to evaluating whether to delay the launch date.
After deeming Telegram’s initial coin offering (ICO) illegal, the SEC also filed a temporary restraining order, setting a court hearing in New York for Oct. 24. (Negative)
XRP Ledger to Facilitate “Ultra-Fast” Trading of Traditional Stocks and ETFs
Cryptocurrency exchange CoinField has announced that it will enable “ultra-fast” trading of traditional investment instruments, such as stocks, ETFs, and fiat currencies, on Ripple’s XRP Ledger.
Coinfield CEO Bob Ras says that its new platform called “Sologenic“, expected to launch in 2020 will be capable of providing the service.
Overall, the tokenization of traditional assets has become a new hot trend in the cryptocurrency industry giving investors from all over the globe to trade, for example US stocks around the clock.
Ras also states that Sologenic would also help to drive cryptocurrency adoption.
“We’re making it easy for people around the world to have access to different global stock exchanges via the Blockchain. […] Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!”
The exchange uses its own fiat-backed Solo (SOLO) cryptocurrency in order to provide liquidity for trading. Major stocks and ETFs will be traded in the form of stablecoins against XRP and Solo on CoinField.
This platform will tokenize stocks on the XRP Ledger as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. (Positive)
Miami International Airport Gets Its First Bitcoin ATM Machine
Bitcoin technology software startup Bitstop, headquartered in Miami, Florida, yesterday announces it has installed Miami International Airport’s first Bitcoin ATM. Through the ATM customers can now conveniently buy or sell Bitcoin for cash while traveling. The Bitstop Bitcoin ATM is located in concourse G next to gate 16.
This a strategic location for Bitstop, the first and largest Bitcoin ATM operator in Florida. Miami International Airport is the third-busiest airport in the United States in terms of international passenger traffic.
“We’re excited to be working with Miami International Airport on this historic deal,” said Doug Carrillo, Bitstop co-founder and chief strategy officer. “More and more people prefer to travel with Bitcoin instead of cash for convenience and security. Miami International Airport is a perfect place for our customers to conveniently exchange their dollars for Bitcoin and vice versa when traveling domestically or abroad.”
Using Bitcoin ATMs has become one of the easiest ways to conveniently buy or sell small amounts of Bitcoin for cash. The MIA location marks Bitstop’s 40th Bitcoin ATM installation over the last two months and brings Bitstop’s total Bitcoin ATM count to 130 machines nationwide. The demand for Bitcoin ATMs has exploded and, as a result, Bitstop is on pace to reach 500 Bitcoin ATMs installed worldwide by the end of 2020. (Positive)
The Central Bank of Canada Exploring a Digital Currency
Another central bank, The Bank of Canada, has been researching the possible issuance of digital currency.
Idea was presented by Stephen Poloz, the governor of the Bank of Canada, as well as the central bank’s board of directors. It would be a two-year research project as to whether the bank should issue its own digital currency. According to them, a central bank-issued digital currency would offer “all the benefits” of central-banked backed assets and “all the convenience and security of wireless, electronic payments.”
“We need to innovate to stay in the game,” they stated, adding that “Cryptocurrencies may become a direct threat to our ability to implement monetary policy and lender of last resort (LOLR) role.”
They further stated that “the proposed digital currency could also help authorities collect more information. “Personal details not shared with the payee, but could be shared with police or tax authorities.”. (Positive)
CFTC Files Lawsuit Against $11M Ponzi-Like Cryptocurrency Scam
The United States Commodity Futures Trading Commission (CFTC) has announced the filing of a civil enforcement action against Nevada-based Circle Society.
Defendants guaranteed investors 300% return
On Oct. 16, the CFTC announced that it was charging Circle Society and its owner, David Gilbert Saffron, with “fraudulent solicitation, misappropriation, and registration violations relating to an $11 million binary options scheme.”
According to the charges, the defendants misappropriated at least $11 million worth of Bitcoin (BTC) and U.S. dollars from individuals in the United States to “trade off-exchange binary options on foreign currencies and cryptocurrency pairs, among other things.” CFTC Chairman Heath P. Tarbert said:
“Fraudulent schemes, like that alleged in this case, not only cheat innocent people out of their hard-earned money, but they threaten to undermine the responsible development of these new and innovative markets. America must be a leader in this space, and we will only succeed if these markets have integrity.”
The defendants are said to have duped at least 14 people into joining a pool operated by Circle Society, a fraudulent entity created by Saffron, which guaranteed up to 300% returns. Saffron is alleged to have retained the participants’ funds in his own personal cryptocurrency wallet and used them to pay new participants “in the manner of a Ponzi scheme.”
The CFTC will seek civil monetary penalties, restitution, rescission, disgorgement of ill-gotten gains, and trading and registration bans, but is aware that there might not be sufficient funds or assets to cover all the losses. (Negative)
Huobi to Open Fiat Gateway with Lira-USDT Pairing in Turkey
Global crypto exchange Huobi plans to roll out a fiat gateway in Turkey that could increase access to more than 250 cryptocurrencies for local investors.
The move comes as Turkey puts forward a clearer legal framework for the crypto market in a country where many people already hold cryptocurrencies, Mohit Davar, Huobi’s EMEA regional president.
The company is announcing the project at the Eurasia Blockchain Summit in Istanbul on Friday.
The fiat gateway would enable transactions between local fiat currency Lira and dollar stablecoin Tether (USDT). Once users purchase tether through their bank account, they could trade it with any other cryptocurrencies on Huobi Global.
The company believes that the Lira-USDT pairing makes transactions in the local market much easier, compared to offering hundreds of pairing between Lira and the other cryptocurrencies.
“It’s very difficult for any exchange to offer liquidity in the 250 coins that we hold against the local currency,” Davar said. (Positive)
Posjetite našu Mjenjačnicu kriptovaluta
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- povjerenje temeljeno na dugogodišnjem iskustvu i rezultatima