Thailand’s Securities and Exchange Commission has approved the country’s first initial coin offering (ICO) portal, the Bangkok Post reported on Wednesday. The portal will be operated by an unnamed foreign company, according to the director of the SEC fintech department, Archari Suppiroj.
HSBC is seeking local South Korean banking partners as it prepares to commercially launch the blockchain-based Voltron invoice processing and settlement platform, The Korea Times reported today. Voltron is currently in the pilot stage as HSBC works to broaden its collaborative alliance to include additional banks and technology firms.
Crypto startup Amun AG is planning to introduce an XRP exchange traded product (ETP) for listing on Swiss stock exchange SIX, The Block reported Monday, March 11. Other media reports suggest that SIX has granted approval for Amun AG to eventually list an additional four ETPs for Bitcoin Cash, EOS, Litecoin, and Stellar.
During remarks at the South by Southwest event in Austin, TX this week, Cameron and Tyler Winklevoss told attendees that the crypto industry needs to build trust if it wants to play a role in the future of money, the Statesman reported on Friday. The Gemini cryptocurrency exchange founders repeated their calls for regulatory oversight of the industry.
In recent remarks at the DC Blockchain Summit, U.S. State Department Acting Under Secretary for Economic Growth, Energy, and the Environment Manisha Singh highlighted the importance of ensuring that policymakers act in ways that further American leadership and competitiveness in the blockchain industry.
It has been suggested that coffee giant Starbucks could soon begin accepting Bitcoin payments from its U.S. customers after reportedly planning to support payment software under development by soon-to-launch cryptocurrency trading platform Bakkt, according to a March 4. report by The Block.
Recently hacked cryptocurrency exchange Cryptopia has cited a slight delay to its plans to reopen its trading platform Monday, and has set a new launch target for Tuesday March 5.
In response to ongoing bearishness in the cryptocurrency markets, Israeli firm First Digital Assets Group (FDA) has embarked on a major restructuring effort, the country’s Globes business news outlet reported on Monday. The company’s plans include merging four of FDA’s companies, closing its One Alpha research subsidiary, and laying off most of its workers.
Major banking institutions continue to deny basic bank services to cryptocurrency-related businesses, according to a March 3 report from Bloomberg. The article notes that many of the leading banks reportedly view the cryptocurrency industry and crypto-related firms as “ticking regulatory time bombs” and are reluctant to deal with perceived compliance issues.
In a 5-1 vote on Thursday night, the City of Plattsburgh, New York formally ended its moratorium on cryptocurrency mining operations, according to a report from Sun Community News. The decision comes nearly 12 months after the city became the first in the U.S. to ban digital currency mining.
In remarks at the annual JPMorgan Chase investor day, CEO Jamie Dimon suggested that his company’s new JPM Coin digital currency could possibly be available for use by consumers someday, CNBC reported on Tuesday. In comments made during a Q&A session, Dimon said:
Russia’s Ministry of Transport is reportedly planning to launch a test program of the TradeLens blockchain shipping platform, according to a Tuesday report from Russian media Kommersant. The effort will apparently involve collaboration between the Ministry and container carrier company Maersk, which developed the blockchain system in partnership with IBM.
Cryptocurrency exchange Coinbase announced Monday that it would begin launching XRP trading support for its Coinbase Pro customers. In a blog post announcing the news, the company said that XRP will initially be supported for customers in Australia, Canada, the EU, Singapore, the UK, and the US – except New York.
Liechtenstein-based Bank Frick announced this week that it will launch a new crypto token trading platform called DLT Markets. The subsidiary will provide institutional investors with a regulated platform offering “multi-exchange access” to digital asset trading, according to a February 20 press release.
The Texas State Securities Board (SSB) has announced that four cryptocurrency companies have agreed to cease and desist token offerings that regulators have identified as unregistered securities. The announcement was made in an order published on Thursday. As part of the agreement, the companies will each be required to pay a $25,000 administrative fine.
According to a report in Korea Herald, South Korean trading institutions have been in somewhat of a holding pattern when it comes to innovative cryptocurrency trading options like exchange-traded funds, preferring instead to wait and see how the United States deals with the issue.
Since the beginning of the Initial Coin Offering (ICO) trend, blockchain-based decentralized financing models have been praised by many mainstream commentators for their clear advantages over traditional fundraising models. For entrepreneurs and project visionaries, the allure was the ability to quickly raise money globally, while everyday people became able to invest in lucrative early-stage projects that the traditional system would not allow them access to and were able to sell their investment much sooner than if they had to wait five or more years for their shares to be traded publicly.
DNotes Global CEO, Alan Yong Welcomes JPM Coin as a Partial Rail of a Massive Network Essential For Mass Adoption of Digital Currency
At the World Funding Summit in 2017, I took issue with JPMorgan CEO Jamie Dimon’s description of Bitcoin as a fraud. Today, I want to praise Dimon’s company and welcome its new digital currency, JPM Coin, as a partial rail of a massive network essential for mass adoption of digital currency.
U.S. firm Morgan Creek Digital’s new $40 million investment fund has attracted investment from two Fairfax County, Virginia pension plans, according to a February 12 report from Bloomberg. In a statement, the company noted that the fund’s investors also include “an insurance company, a university endowment, and a private foundation.”
The Ontario Securities Commission confirmed in a statement to Reuters on Friday that regulators are looking into the issues surrounding QuadrigaCX, the besieged Canadian cryptocurrency company whose founder passed away in December. The OSC cited concerns about potential harm for investors as a reason for its interest, though commission spokesperson Kristen Rose refused to confirm that there is an official investigation.