VanEck Refiled Its Bitcoin Excange-Traded Fund Application
The filing of the re-drafted application comes after almost immediately after it withdrew its prior Bitcoin ETF application just a couple of days ago.
However no one is holding their breath for the immediate release of the decision of the application due to the tendency of the U.S. Securities and Exchange Commission to wait out the 240-day period before it gives out its final decision.
Since the initiative is considered a new application it resets the deadline for the SEC to decide on the application.
This means that the possibility of having a bitcoin ETF in the U.S. Market before the fourth quarter is highly unlikely.
This stems from the fact that there is no incentive or motive for the SEC to approve the ETF.
According to pundits, if the SEC approves the BTC ETF and it runs into problems, it has to take responsibility for it.
7 Crypto Exchanges Using NasDaq’s Market Monitoring Tech
NasDaq, the second largest stock exchange in the world, has recently revealed that there are seven cryptocurrency exchanges that are using its market monitoring technology.
Only two of this exchanges have been publicized, the first one is Winklevoss twin’s Gemini exchange and Vctrade which is being operated by SBI Holdings, a financial giant in Japan.
The market monitoring technology dubbed as SMARTS Marketing Surveillance System is a cross-market, cross-asset surveillance tool that correlates real-time and historical data with detection patterns to trace illegal market activities such as spoofing and wash trading.
Crypto industry players who wants to use the technology has to go through a rigorous vetting system which assesses interested parties to three broad criteria-business model, Know your customer and Anti-money laundering measures and exchange governance and controls.
There are around 20 Nasdaq employees who are tasked to do the assessment on behalf of the company.
Bitfury Launching Crypto Mining In Paraguay
The Blockchain tech firm and Bitcoin mining manufacturer Bitfury is planning to launch several mining facilities in Paraguay.
This was revealed in a press release published January 31, 2019.
This is made possible with its partnership with Commons Foundation which is based in South Korea.
Commons Foundation is a South Korean peer-to-peer knowledge commons research firm.
It plans on launching a series of processing sites that will use Bitfury’s BlockBox Ac mobile data centers in Paraguay.
The project is part of a larger plan to expand cryptocurrency and blockchain innovation is Spanish-speaking countries dubbed as Golden Goose.
The mining facility in Paraguay will be situated in a 200,000 square meters facility with its own power substation with the capacity of providing 500 MegaWatt of power.
Bitfury claims that all the power that will be used by the mining facility will be 100% renewable, Paraguay is after all home to the world’s largest operational hydroelectric energy producer.
New York Regulator Approves Another Bitcoin Operator
The company is a Bitcoin (BTC) ATM operator with terminals in New York City and the surrounding area.
Bitcoin ATM or BTM are touchscreen kiosks that enables users to deposit cash and either buy bitcoin, or to scan their mobile wallet, sell their crypto and withdraw cash.
This follows the approval of Coinsource’s Bitlicense which was approved last November 2018.
Bitlicenses was introduced by the NYDFS in July 2014 by Benjamin Lawsky, New York’s first Superintendent of Financial Services.
This is one of the requirements in the State of New York to conduct crypto and blockchain related businesses.
Firms that applies for such a license are subject to anti-money laundering (AML) standards and counter-terrorism financing standards.
Businesses who wants to receive the license are required to do background checks on all of its employees and transactions records for one decade.
Fidelity’s Crypto Trading And Crypto Custody Services On Final Testing
The financial services Wall Street Giant Fidelity which has $7.2 Trillion in client asset under management, has recently revealed that its crypto trading platform and custody platform is in its final testing phase.
In a blog post the company said that it has on-boarded a select set of eligible clients already and it worked on building Fidelity Digital Asset Services (FDAS).
It has been reported earlier online that the financial giant was targeting a March release target by anonymous sources that was familiar with the matter.
The update from the company blog did not confirm the aforementioned leaked information but if this was true it will be consistent to the company’s first plan of releasing the platform in Q1 of 2019.
Fidelity’s Crypto Trading and Custody Solutions Platform is much awaited by the whole cryptocurrency community.
Many pundits are bullish on its release as it would bring in much needed liquidity into crypto space and huge boost to the legitimacy of the nascent industry.
Headlines for the world of Cryptocurrencies - February 01, 2019Binance Now Offers Credit Card Purchases For Cryptos / Indian Private Law Firm Invited To Present Suggestions For Crypto Regulations / Crypto Giants Joins Funding Round For Staking-as-a-Service Startup Raising $4.5 Million / Fed Rate And Dow Jones Rebound May Fuel Bitcoin In Long-TermItalia4blockchain Association Launched In Italy |
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Headlines for the world of Cryptocurrencies - January 31, 2019Fidelity To Launch Cryptocurrency Custody Services Soon / New U.S. Bill Seeks To Find Impact Of Crypto To Illicit Activities / JPMorgan Sees Marginal Improvements To Payment System With Blockchain Technology / Iran To Use Cryptocurrencies To Conduct International Settlement / Everex Expanding Into The U.S. Market |
Headlines for the world of Cryptocurrencies - January 30, 2019Chicago Becoming A Hot Spot For Crypto ATM / CME Releases New Futures Contracts Amidst Bitcoin Price Fall / UAE-Saudi Arabian Crypto “Aber” To be Used By Banks Only / BitTorrent Token Sale Sold Out Within Minutes Despite The Absence Of US Investors / Hong Kong Dollar-Pegged Stable Coin Launched By Bitspark |
