One of the largest cryptocurrency exchanges in the world, Coinbase have announced that its users now allowed to withdraw funds to PayPal. Coinbase then explained, “These withdrawals are not only fast; they’re free and incur no fees. We work hard to make Coinbase the easiest and most trusted platform.”
The United Kingdom-based digital asset trading platform Cubits, has been forced into administration. This means that investors cannot deposit or withdraw funds until further notice. It is result of the loss $32.5 million by fraudsters in February reportedly stole exchange claims to be victim. It is now under Steve Parker and Trevor of Opus Restructuring & Insolvency as joint administrators.
Monex, a Japanese financial corporation, is to start offering a cryptocurrency trading service in the US with Coincheck, a Japanese cryptocurrency exchange the brand which Monex bought in April. Services starts by the early 2019 and will be open only for big money customers. It will allow trade of Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and XRP.
ErisX has raised a fund of $27.5 Million from Nasdaq Ventures, the world’s second-largest stock exchange, and Fidelity Investments, USA based investment firm which administers over $7.2 trillion client’s assets. Thomas Chippas, ErisX CEO said the funds will be used to built infrastructure, hire staff and secure digital assets in a regulated market. They are offering both spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
The founder of cryptocurrency exchange EtherDelta, Zachary Coburn has been charged by the U.S. Securities and Exchange Commission (SEC) for operating an unregistered securities exchange. The co-director of the SEC’s Enforcement Division, Steven Peikin commented, “We are witnessing a time of significant innovation in the securities markets with the use and application of distributed ledger technology.”
Trijo, a company based in Sweden, has been granted a license to operate a cryptocurrency exchange in Estonia. The CEO of Trijo, Totte Löfström affirmed that no unreliable cryptocurrencies will be featured in the platform and commented, “Although we fully intended to operate out of Sweden, it wasn’t possible when there are superior tailor-made solutions available abroad.”
Stephen Hammond, a member of the British parliament, is to serve as the adviser of the IronX crypto exchange company. The company has accomplished the private sale of its IRX token and would launch its ICO from 1st November. Hammond stated, “The only way cryptocurrencies will be trusted and become accepted in the traditional business environment is through regulation.”
The president of the Dutch central bank, Klaas Knot disclosed that the Netherlands Bank is working with the Authority for the Financial Markets (AMF) to introduce rules for crypto exchanges. Knot stated, “We at the Dutch central bank are assessing the possibility, together with the Authority for the Financial Markets, of a proportional supervisory framework for cryptos.”
Bithumb, the largest cryptocurrency exchanges by its trading volume in South Korea has confirmed that 38% of the exchange’s total ownership has been sold for $350 million by a blockchain consortium headquartered in Singapore, BK Global Consortium. The chairman of BK Group and a plastic surgeon Kim Byung Gun would be the largest shareholder of Bithumb.