A new Puerto Rico-based institution called San Juan Mercantile Bank & Trust International (SJMBT) will start aiding crypto traders in their business by providing custody and settlement services for both fiat and crypto traded on the exchange. Nick Varelakis, president & COO of SJMBT: “As more liquidity venues onboard with SJMX to trade digital assets, SJMBT will provide critical services…”
Omniex (a technology developer) has joined hands with IPC Systems (a trading communications solutions provider) with aim to amplify its clients crypto-asset exchange services. Bob Santella, CEO of IPC Systems, said: “Through our Connexus extranet ecosystem, the Omniex platform can provide secure, intelligent channel for cryptocurrency trading for its financial community,”
Pakistan could be legalizing investment in cryptocurrency sooner. The Premier Intelligence Agency wrote a letter to the country’s Finance Minister and advised “Monitoring of cryptos is the most difficult part which needs specific expertise/laws through which cryptocurrency trade being carried out via hidden platforms need to be brought under a registered banner.”
The NASDAQ is going to allow its technology to be used by a new cryptocurrency trading platform. Bcause CEO Fred Grede, “This is a pure technology licensing agreement, so what we’re licensing is their order entry platform, their trade matching system, their clearing systems and their market surveillance systems.”
An announcement has been made by the developer of automated cryptocurrency trading software, Krylll.io that they have been selected by the French Public Investment Bank (Bpifrance) to support the development of cryptocurrency trading platform. The Innovation Service Officer of Bpifrance, Rolland VITI: “We hope this will allow you to accomplish the innovative program you aim to develop.”
Boerse Stuttgart, a stock exchange operator launched a new cryptocurrency trading application called Bison, the app was developed Sowa Labs (a subsidiary of the exchange). Users do not have to set up a wallet in order to trade. Because Blocknox, another subsidiary of Boerse Stuttgart, acts as custodian for users of the application by using an escrow system.
A well-known zero-fee cryptocurrency trading app, Robinhood has been granted a license and a money transmitter license to sell cryptocurrencies in New York by the State Department of Financial Services (DFS). DFS continues to lead the way in responsibly supervising and advancing innovation in New York’s flourishing financial technology sector through a strong state-based regulatory regime.
An unauthorized cryptocurrency trading centre located in Michigan was raided by the U.S federal authorities. In a video posted regarding the raid have shown the properties such as computers and other equipment in the office has been confiscated by the authorities. The Geek Group founder, described that he was “commercially trading in crypto-currency without the proper authorization.”
A local press has reported that the local banks will be limiting the activities of the unverified cryptocurrency traders in South Korea as ordered by the financial watchdog directing them to withdraw funds and not to make deposits. This indicates that the financial regulators of South Korea have stepped up its security strategy in protecting the investors.
A warning has been issued by Malta’s Financial Services Authority (MFSA) over the “dubious” only cryptocurrency trading platform named Primetradingbot. MFSA has made it clear in the warning notice that no license has been granted and no authorization has been given to Primetradingbot under the law allowing the investment or financial services in the country.