Friday events: Binance opens office in Malta; the SEC will investigate hedge funds; Malaysian banks are joining forces to develop programmes Blockchain; Yahoo! Japan plans to open its own exchange; the exchanges quietly.
• Binance opens office in Malta:
Exchange Binance announced that it is opening an office in Malta, after Japanese regulators issued a stock exchange warning, according to Bloomberg.
Binance with headquarters in Hong Kong, will cooperate with the local banks in Malta on deposits and payments relating to the replacement of fiat – crypto. CEO Binance, Changpeng Zhao, known in the crypto community as «CZ», said that he had been invited to Malta by the government to look to the future, business-friendly kryptowalutowych that the draft law.
We are confident that we will soon be able to announce a new partnership in the Bank. Malta is a very progressive, if we are talking about cryptocurrency and fintech.
According to the local store Malta Independent, the government launched the Malta Office of Digital Innovation in February 2018, to provide brightness legal enterprises innovator of the technology of the Blockchain kryptowaluty and ICO.
[…] We want to be global pioneers in the field of regulation of enterprises on the basis of the Blockchain and jurisdiction, the quality and choice of world-class fintech JM
– posted today on Twitter the Prime Minister of Malta Joseph Muscat.
Zhao said that Binance opened an office in Japan, while in the process of obtaining a license to operate in this country. The Japanese Financial Supervisory authority (FSA) has issued a warning about the unregistered status of the exchange, which led the company to the transfer. In early February of this year, the supervisors from Hong Kong warned investors about the risks associated with investing in the digital currency, noting that they sent a letter to the seven stock exchanges in Hong Kong, as a warning before investing in kryptowaluty are considered securities under local laws. Bloomberg reports that Binance was one of the seven stock exchanges, which received a warning.
• SEC will investigate hedge funds:
The American Commission on Securities and exchange Commission (SEC) is preparing to explore to 100. hedge funds that are engaged in kryptowalutami, reports the Wall Street Journal. Initiative is not related to his companions dozens of investigations kryptowalutowymi, which are directed mainly to companies suspected of committing crimes associated with securities using for this purpose the ICO.
While the inspectors will report any suspicious activity identified during their research, the main goal of this initiative is to inform how the policy of the Commission should treat kryptowalutami.
Thus, the SEC collects information and learns about important new technologies and products. Examiners conduct such operations in order to inform the Commission about new companies and industries.
said Marc Elovitz, partner at Schulte Roth & Zabel LLP, the company doradzającej hedge funds.
The operation is scheduled to begin within the next two months. The inspectors check if there are any assets acquired through the Fund managers correspond to those which were offered to investors. The SEC will also be looking documents supplied information about the risks for investors to see exactly how to explain the trading strategy kryptowalutami or tokens. The source added that the SEC has identified at least 100. Fund managers, whose assets are focused on digital currencies.
According to the WSJ, hedge funds have the highest probability output for the crypto currency, but private equity can also be tested if their funds have their own digital assets directly or through companies associated with the industry kryptowalutowym.
The SEC directly regulates governing private foundations, who control at least $ 150 million and has the right of periodic inspection of small companies. To 84 kryptowalutowe hedge funds were launched in 2017.
Studies of hedge funds occurs in the sample from the website of American financial supervision authority. Earlier this month the SEC published an article about the crypto community that the platforms that sell digital resources that fit the definition of securities must be registered with the SEC.
• Malaysian banks are joining forces to develop programmes Blockchain:
Nine Malaysian banks have joined forces to develop programmes Blockchain for trade Finance. In his speech at the banking event, Jessica Chew Cheng Lian, Deputy Governor, Bank Negara Malaysia (BNM), she said that the country is using new financial technologies, including the Blockchain, for the development of banking services.
Space in the Blockchain industry is in many jurisdictions, has put together resources to cover the costs of the experiments related to the development of scalable use cases for the application of this technology. In Malaysia, nine banks, gathered together to develop a program Blockchain for trade Finance.
While the comments of the Deputy President, have not shown the details on the project or the fact that the banks involved in the collaboration, they offer insight into the Central Bank’s approach to this technology.
Lian says that the Central Bank has created an open group with the implementation of the Application Programming Interface (API) with the participation of members of the financial sector and major fintech startups, whose main objective is to develop a unified open framework API. Efforts aimed at further expansion of access to financial technologies such as Blockchain to facilitate their adoption through financial institutions.
• Yahoo! Japan plans to open its own exchange:
According to local medium – Nikkei Asian Review, Yahoo! Japan buys 40% BitARG Exchange Tokyo next month and will immediately send the user to put the basis for the launch of the exchange a year later.
The purchase of shares will be implemented through BitARG YJFX, a company which is wholly owned by Yahoo, which supports foreign currency transactions.
– the report, adding that 40% of shares will cost the company 2 billion yen (19 million dollars).
Traffic Yahoo! adds another big company for a Japanese regulated stage for bitcoin.
Licensing program exchange crypto, which began in April 2017, he saw a total of 16. operators authorized to service the Japanese market, including major players such as SBI Group. BitARG license from the Federal financial supervision authority, the Financial Services Authority (FSA) is December 2017, which still applies only to trade Bitcoinami, as reported by the local media.
• Exchanges easy:
In the last 24 hours on the exchange passed without bright, clear movements. Withdrew from other only cardan noticing a decrease of 7.6%. The value of Bitcoin in turn, rose by 0.1%, and Ethereum, Ripple and Bitcoin Cash decreased the queue by 1.3% to 3.3% and 0.2%. The total capitalization of the market rose by $ 1 billion, and currently stands at 331 billion. The total turnover on the exchange amounted to 15.2 billion dollars.
source: cointelegraph.com, coindesk.com, coinmarketcap.com.