Latest from the Quantamize Blog

Cryptocurrency Weekly Recap

Jul 06, 2018

  • US cryptocurrency firm, Bittrex is joining London FinTech firm to launch a new cryptocurrency trading platform that is focused on the European market.
  • SIX, the owner and operator of the Swiss stock exchange is launching a new fully-regulated cryptocurrency exchange.
  • Europe’s largest trader of ETFs, Flow Traders NV, is moving into cryptocurrencies. The Amsterdam-based speed trader is making markets in ETNs based on Bitcoin or Ether.
  • Today, July 5th marked the Reserve Bank of India’s deadline for banks to stop interacting with companies that deal with cryptocurrencies. 
  • Former Jefferies Asia CEO, Michael Alexander, has joined EOS as head of the protocol’s USD$1bn venture capital arm. Alexander will manage direct venture investments and EOS VC partnerships with the intention of building the EOSIO ecosystem
  • The general manager of the Bank of International Settlements (BIS), Agustin Carstens, has called cryptocurrencies “a bubble, a Ponzi scheme and an environmental disaster”
  • Cryptocurrency exchange, Huobi, has confirmed that it has launched trading on its Australian platform. Huobi is currently the 4th largest cryptocurrency exchange with USD$713mm in daily trading volume
  • South Korea is now recognizing cryptocurrency exchanges as legal entities for the first time. Exchanges will now be considered “cryptoasset exchanges and brokerages”.
  • Thailand will govern initial coin offerings (ICOs) with a new rule which takes effect on July 16th. Any project that wishes to conduct an ICO must file an application with regulators before the token sale
  • Malta has established a comprehensive legal framework for cryptocurrencies. The parliament of Malta has passed three bills regulating cryptocurrency activities: the Malta Digital Authority Act (MDIA), the Innovative Technological Arrangement and Services Act (ITASA) and the Virtual Financial Asset Act (VFA)
  • Block Stocks has gained regulatory approval from Swiss regulators to launch its own fundraising platform. The platform will launch a blockchain-based digital token sale system for startups as well as small to mid-sized businesses
  • A group of European banks have announced that they have completed a cross-border financial trade using IBM’s blockchain platform, The transaction was completed over the last week and involved 10 companies and four partner banks
  • DigiTimes, a premier Asia technology news source has reported that there has been a large decrease in interest for mining hardware, reflecting a potentially important decline in mining capacity
  • Financial firms that are registered with Thailand’s Association of Securities Companies (ASCO) are looking to create a jointly-owned cryptocurrency exchange. Firms have been rumored to also want to offer an initial coin offering (ICO) portal and become digital asset broker dealers in the region
  • The Japanese Financial Services Agency (FSA) is considering changing the legal basis for how it regulates cryptocurrency exchanges. The current conditions allow the FSA to regulate the exchanges under the Payment Services Act. However, the FSA is considering using the Financial Instruments and Exchange Act (FIEA) instead
  • Announced today - BTCC, previously one of China's top three cryptocurrency exchanges, has relaunched its operations again with its own native digital currency token
  • The US Securities and Exchange Commission (SEC) approved plans for public comment which would allow investment companies to bring new ETFs to the market which invest in blockchain companies
  • The Huobi Group, has announced that it is opening an office in London. Additionally, the firm will be opening Huobi OTC and Huobi Quant Trading
  • Cryptocurrency exchange Kraken has responded to a recent Bloomberg article that argues Tether (USDT) is being manipulated on their exchange. Kraken’s response claimed that Bloomberg’s article was written to influence the price of futures trading