Daily Crypto News 06.11.2019.

European Central Bank to consider Eurocoin

A draft document issued by the European Union suggests that the union should consider issuing its own digital currency.

Reuters reported on Nov. 5 that the draft in question — which is still subject to amendments — urges member states to develop a common approach to cryptocurrencies, possibly banning high-risk projects.

If the draft in its current form is approved, which could happen as early as next month, it could have far-reaching consequences. More precisely, Reuters suggests that such a law could escalate into an EU regulatory campaign against cryptocurrencies.

The draft prepared by the Finnish EU presidency also suggests that the European Central Bank should consider issuing its own digital currency.

The draft will be discussed this Friday, and perspective on its adoption will be presented on Dec. 5. (Positive)

Binance Chain transactions are now traceable by CipherTrace

The world’s largest cryptocurrency exchange by trading volume, Binance, would utilize CipherTrace’s intelligence tools, bringing anti-money laundering analysis and support to its self-developed blockchain, which is both the foundation for the Binance DEX (decentralized exchange) and home to the exchange’s BNB token.

CipherTrace said in a press release that it would support “institutional-grade” AML controls for clients, continuing a long-standing partnership between the two firms. (Neutral)

Hong Kong Regulator Will Unveil New Set Of Regulations For Cryptocurrency Exchanges

Hong Kong’s financial regulator — the Securities and Futures Commission (SFC) — will publish a new set of regulations for Bitcoin (BTC) and cryptocurrency exchanges today. The news was announced by Chief Executive Ashley Alder at a local fintech event.

The new requirements will detail how exchanges much approach custody, compliance such as Know Your Customer and Anti-Money Laundering rules, among other issues.

“The framework will enable virtual asset trading platforms to be regulated by the SFC, a major development which builds on a way forward I outlined at the same time last year,” said Alder.

SFC first established guidelines for crypto funds and exchanges in November 2018. Now, a year later, the regulator is taking that work forward, Alder told the conference on Wednesday.

Commenting on the news, private investor Dovey Wan says that this is a big deal for the entire cryptocurrency industry. She points out that Huobi, in particular, may already be on its way to becoming the first licensed exchange in Hong Kong. (Neutral)

Posjetite našu Mjenjačnicu kriptovaluta

  • brza i izravna konverzija kriptovaluta za fiat valute i obrnuto
  • jednostavna i kvalitetna usluga prema standardima FIMA brenda
  • povjerenje temeljeno na dugogodišnjem iskustvu i rezultatima

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