Tag: Crypto News

As Cryptocurrency Use Grows, Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter – Business Wire
Crypto News

As Cryptocurrency Use Grows, Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter – Business Wire

JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE: FIS), a global leader in financial services technology, today announced Fraud Freedom, a new chargeback indemnification service designed for cryptocurrency brokers and exchanges. Worldpay’s Fraud Freedom service helps crypto brokers and exchanges optimize payment conversion and authorization rates while providing indemnification from Forter, the leading eCommerce fraud prevention provider.1 The cryptocurrency market continues to grow rapidly following a 600 percent increase in crypto-based trading volume in 2019.2 As the COVID-19 crisis has accelerated consumer trading volumes in the cryptocurrency marketplace, crypto brokers and exchanges are looking to deliver a secure, frictionless experience for their customers while minimizing fraudul...
Blow To Bitcoin As Coinbase Crashes In Sudden Meltdown – Forbes
Crypto News

Blow To Bitcoin As Coinbase Crashes In Sudden Meltdown – Forbes

Bitcoin investors yesterday cheered the bitcoin price soaring over $10,000 per bitcoin (again)—though their celebrations were short lived. The bitcoin price, after a number of recent runs at the psychological $10,000 level, surged to highs of $10,430 on the Luxembourg-based Bitstamp exchange on Monday evening only to crash back less than 24 hours later. However, users of major U.S. bitcoin and cryptocurrency exchange Coinbase were left on the sidelines of the virtual trading floor after the exchange crashed offline just as the bitcoin price began to climb—and not for the first time. MORE FROM FORBESDonald Trump Is Creating Twitter And Facebook's Worst NightmareBy Billy Bambrough Bitcoin and cryptocurrency exchange Coinbase has developed a reputation for falling offline every ... [+] ...
Cryptocurrency Firms Now Recognized as Money Service Businesses in Canada – Cointelegraph
Crypto News

Cryptocurrency Firms Now Recognized as Money Service Businesses in Canada – Cointelegraph

Cryptocurrency exchanges and payment processors are now legally recognized as Money Service Businesses (MSB) within Canada. June 1 saw the enactment of amendments to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act that were passed in June 2019 to address holes in the then-existing framework. Candian crypto firms must now report all transactions exceeding 10,000 Canadian dollars ($7,403), and register and comply with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Recognition brings relief On May 29, the CEO of Canadian crypto asset exchange BullBitcoin, Francis Pouliot, tweeted: “Today is my last day as an unregulated dealer in virtual currency. As of June 1, 2020, Bitcoin exchanges and payment processors are officially regulated as M...
Cryptocurrency This Week: Indian Crypto Exchanges Witness Surge In New Users, Bitcoin Sees $1000 Spike &#0 … – Inc42 Media
Crypto News

Cryptocurrency This Week: Indian Crypto Exchanges Witness Surge In New Users, Bitcoin Sees $1000 Spike &#0 … – Inc42 Media

According to cryptocurrency research platform Coinpaprika and global crypto exchange OKEx, India is poised to gain considerable global market share of crypto transactions this year. The report published last week showcased that the trading volume of Indian crypto exchange platforms, CoinDCX and WazirX, witnessed an increase in the trading volume since the ease of cryptocurrency trade policy in the country. As per Similarweb, the website traffic of major crypto exchanges from India has increased during 2020 Q1. Furthermore, the report revealed that OKEx’s visits from India saw the highest increase, reaching 545.56%. It claimed that newly registered users from India rose by 4100% during the same period. The global crypto exchange platform is now eyeing India and has plans to launc...
2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval – Bitcoin News
Crypto News

2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval – Bitcoin News

Switzerland’s financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a range of crypto services. Maerki Baumann Launches Cryptocurrency Trading Desk and Custody Service The Swiss Financial Market Supervisory Authority (FINMA) recently approved two banks — Maerki Baumann and Incore Bank — to offer a number of cryptocurrency services, the two financial institutions independently announced Friday. Maerki Baumann, a Zurich-based private bank with a dedicated crypto desk, stated Friday that it has obtained a license from FINMA “to offer the trading and custody of crypt...
Regulating cryptocurrency exchanges – The Indian Express
Crypto News

Regulating cryptocurrency exchanges – The Indian Express

Updated: June 1, 2020 9:27:23 pm In its heyday, MT Gox crypto exchange accounted for nearly 70 per cent of all Bitcoin transactions. (Representational image) Written by Radhika Pandey and D Priyadarshini By striking down the Reserve Bank of India circular of April 6, 2018, the Supreme Court has given a fillip to crypto exchanges in the country. The circular had stopped traders and exchanges from accessing the banking system. Unable to conduct trades, several exchanges had shut down or moved overseas. Now, some have returned, others are seeing increased users and one has recently secured a multi-million dollar investment. But the judgment has also rekindled the question of regulating crypto exchanges. There exists no clear legal and regulatory framework governing them. Recent report...
India to Significantly Increase Crypto Market Share This Year: Report – Bitcoin News
Crypto News

India to Significantly Increase Crypto Market Share This Year: Report – Bitcoin News

India’s cryptocurrency market is set to gain significant market share this year, according to an industry report. The regulatory environment, the instability of the rupee, and remittances are key drivers that will send the Indian crypto industry soaring. Indian Crypto Sector Flourishing The Indian cryptocurrency market is poised to gain considerable global market share starting this year, according to a report published last week by Coinpaprika and Okex. The former is a cryptocurrency research platform while the latter a global crypto exchange. They analyzed the Indian crypto sector, major players, the challenges they face, and the rapid development of the country’s crypto ecosystem. “India is one of the fastest-growing crypto markets, gradually catching up on cryptocurren...
Cryptocurrency Trading Firms Expand Services Through Acquisitions, Regulatory Approvals and Investments, SEC Charges ICO Issuer, Crypto Malware Attack Detected – JD Supra
Crypto News

Cryptocurrency Trading Firms Expand Services Through Acquisitions, Regulatory Approvals and Investments, SEC Charges ICO Issuer, Crypto Malware Attack Detected – JD Supra

U.S. Crypto Trading Firms Make Acquisitions Targeted at “Prime Brokerage” Services By: Robert A. Musiala Jr. This week major U.S. cryptocurrency exchange Coinbase announced plans to acquire Tagomi, a U.S.-based prime brokerage platform focused on the cryptocurrency industry. In a press release, Coinbase referred to Tagomi as “the leading crypto prime brokerage platform” and said the acquisition “will bolster our offerings for advanced traders and the most sophisticated crypto investors.” According to the press release, the acquisition will allow Coinbase “to offer custody, professional trading features, and prime brokerage services on one platform, giving sophisticated investors the seamless, powerful trading experience they have come to expect in equities and FX markets.” In a similar...
Cryptocurrency News From Japan: May 24 – May 30 in Review – Cointelegraph
Crypto News

Cryptocurrency News From Japan: May 24 – May 30 in Review – Cointelegraph

This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. GMO Coin users pick Bitcoin over XRP GMO Coin, a crypto exchange under Japanese tech outfit GMO, conducted a poll, asking users which crypto asset they think holds the most promising future.  Out of 1,578 polled exchange users, 47% put Bitcoin as their top choice. XRP and Ethereum came in second and third respectively. Similar polling from 2019 found XRP...
China Passes Law Protecting Cryptocurrency Inheritance – Bitcoin News
Crypto News

China Passes Law Protecting Cryptocurrency Inheritance – Bitcoin News

China has passed the country’s long-awaited civil code which expands the scope of inheritance rights to include cryptocurrency, such as bitcoin. Inherited cryptocurrencies will be protected under the new law. Meanwhile, several Chinese courts have recently ruled that bitcoin and ethereum are properties protected by law. Inherited Cryptocurrencies Protected by Law The third session of the 13th National People’s Congress (NPC), China’s top legislature, voted on and passed the “Civil Code of the People’s Republic of China” on Thursday. In addition to general and supplementary provisions, the civil code ”includes six parts on real rights, contracts, personality rights, marriage and family, inheritance, and tort liabilities,” Xinhua News Agency reported. Noting that the decision to d...