Results of the Week 10.09.2018-16.09.2018
- The US Securities and Exchange Commission suspended trading in BTC and ETH ETN on crypto exchanges
A sufficiently publicized investment tool that targets US investors wishing to access the digital assets market will not be available for some time because of the SEC's decision. Thus, the department issued an order in connection with which the circulation of exchange notes (ETN), Bitcoin Tracker One and Ether Tracker One, issued by XBT Provider AB, is suspended. Note that this company is a Swiss division of the British company CoinShares Holdings.
- The Singapore Crypto Exchange has invested US $3 million in Bitcoin Australia
The KuCoin cryptocurrency trading platform, which is registered in Singapore, invested in the Australian regulated cryptocurrency exchange, which is part of the new joint venture. According to available data, KuCoin allocated $3 million to Bitcoin Australia. Thus, it allowed the Asian platform to enter the Australian market with a focus on large investors. Note that Bitcoin Australia will apply the recently received funds to finance its own efforts related to the expansion of retail investors worldwide.
- The Gemini exchange is launching stablecoin, which has a peg to the dollar
Representatives of the crypto exchange Gemini announced that it is launching a stablecoin that will be pegged to the dollar. The company's initiative is focused on providing liquidity to users who are hoping to send or receive US dollars through the Ethereum network. Note that he will have a "strict binding" to the dollar. At the same time, Gemini has deposits in the US dollar, which correspond to the number of tokens in circulation. Interestingly, in a published press release it is reported that the Financial Services Department of New York (NYDFS) reviewed and approved the "Gemini dollar".
- Nasdaq will create a tool that allows you to predict the price movements of digital assets
Nasdaq may be on the verge of giving investors the advantage of trading in hundreds of digital assets. As it became known, the Exchange plans to add tools allowing to predict the movement of the value of cryptocurrency. The tools will be added to the Analytics Hub, which was launched last year. He uses the capabilities of machine learning and natural language processing (NLP), designed to analyze social networks and other alternative data sources. This will allow investors to get more opportunities to assess the movement of the market.
- A judge from New York decided that the securities laws could be applicable to digital assets
Most likely, this was the first trial in the United States of America in this field. Thus, a federal judge from New York established that the government's securities laws may be applicable to cases involving digital assets. The situation was that District Judge Raymond Doury refused to withdraw from the case against the resident of Brooklyn - Maxim Zaslavsky. He was accused of promoting crypto-loans, secured by investments in real estate and diamonds, which according to available information were a fiction.
- The US Department of Defense data center will be transformed into a mining farm
Chinese holding company Wuhan General Group Inc. began negotiations on the transformation of the object of the US Department of Defense into a mining farm. The press release says that if the talks on this issue are successfully concluded, the company will receive the first order for the equipment at the end of October. According to available information, after the change of the facility, Wuhan General Group plans to apply low tariffs for electricity in the US, a cool climate and high-speed Internet. All this is crucial for the mining of digital assets.
- OKCoin Exchange to expand trade to another 20 states
Credit-exchange trading platform OKCoin announced its intention to expand the trade "token-token" in twenty more US states. Note that trade services will now be provided in such states as Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.
- Japan's Financial Services Agency to expand digital asset management team for processing licenses for crypto exchanges
The observer for the financial market of Japan decided to expand the team, focused on the activities that are associated with the cryptocurrencies. This decision was made to cope with the growing interest of Japanese companies to acquire a license on trading floors. Vice-commissioner for policy coordination in the FSA, Kiyotaka Sasaki, said that to date, there are thirty people in the government who are responsible for the overall control over actions related to cryptocurrencies.