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LocalBitcoins to Be Subject to Regulation by Finland’s FSA
In a blog post published today, peer-to-peer digital currency trading firm LocalBitcoins announced that it will soon be subject to regulation by Finland’s Financial Supervisory Authority. The company confirmed that it is working to ensure that its services will be in full compliance with Finnish regulations.
UPS Announces Inxeption Blockchain E-Commerce Platform Collaboration for B2B
Shipping titan UPS announced this week that it is collaborating with e-commerce firm Inxeption on a blockchain-based e-commerce platform for business-to-business sales. According to a press release announcing the news, the collaborative alliance is designed to hasten business e-commerce adoption and facilitate merchants’ entry into the digital age.
BIS General Manager Says Central Bank-Issued Crypto Could Undermine Financial Stability
Bank for International Settlements general manager Agustin Carstens issued a warning Friday to central banks that might be considering their own digital currencies. While speaking at the Central Bank of Ireland in Dublin on Friday, Carstens warned that central bank-issued digital currencies could potentially undermine financial stability.
Report Claims 95 Percent of Bitcoin Trading is Fake
A new study from Bitwise claims that as much as 95 percent of all Bitcoin trading volume on unregulated cryptocurrency exchanges is fake, CNBC reports. Researchers concluded that nearly all of the volume reported on 71 of the top 81 crypto exchanges involved wash trading designed to create a false impression of market activity.
Crypto-Friendly Silvergate Bank Continues to Attract New Customers
California-based Silvergate Bank this week updated its filing with the U.S. Securities and Exchange Commission, revealing continued growth in its cryptocurrency-related services. According to the updated data, the bank now provides services to more than 500 crypto-related firms, even as major banks around the world continue to deny banking services to companies in the industry.
Missoula County Eyes New Zoning Regs to Address Crypto Mining Power Consumption
Missoula County, Montana commissioners have instructed their staff to begin work on interim zoning rules that would regulate power usage for companies like cryptocurrency miners, The Missoulian reported today. The move comes in the wake of two previous discussions about energy usage at the Bonner HyperBlock center.
Japan to Tighten Rules for Crypto Margin Trading
Japan’s cabinet has approved a draft series of changes to the country’s laws governing financial instruments and payment services, in a move designed to further standardize the cryptocurrency marketplace, according to Nikkei Asian Review. The draft amendments will limit the use of leverage in crypto market trading, at “two to four times initial deposits.”
Cboe Will Not Add New Bitcoin Futures Contracts, Assessing Future Crypto Plans
Cboe has confirmed that it will not be adding additional bitcoin futures contracts in March, though the company suggested that it is not completely ruling out future crypto derivatives. Cboe Global Markets was the first to roll out bitcoin futures in December 2017, at the height of the cryptocurrency boom.
E-commerce Giant Bans Crypto After PayPal Investment
Latin America’s largest e-commerce giant Mercado Libre will end more than 20,000 crypto ads from March 19 after banning cryptocurrency on its platform, according to a report from the daily hodl.
Coinbase Pro to Update Market Structure Mar 22
Coinbase announced this week that it will be updating Coinbase Pro’s market structure on Friday, March 22. In a blog post announcing the news, the company said that the changes are intended to enhance the platform’s market health by focusing on increased liquidity, improved price discovery, and smoother price movements.
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