Event Tuesday: BitFlyer was licensed in the European Union; the Exchange Huobi launches its own marker; the SEC will increase the control companies have in their name the word «Blockchain»; UBS, the Bank has not provided its clients about crypto currency, a Reflection on stock exchanges.
• BitFlyer was licensed in the European Union:
Tokyo Bitcoin with the methodology of BitFlyer, has licensed the organization of Banking activities in the European Union that seems quite a big surprise after the last review of EU on crypto currency. The license was awarded to the stock exchange through the Luxembourg Supervisory authority – Commission de Surveillance du Secteur Financier (CSSF).
BitFlyer, which was released to the American market in the fall of 2017, is already working in Japan under a license issued by the Financial Services Agency (FSA). Yuzo Kano, founder and CEO of bitFlyer, said in a press release:
I am proud that we are currently the most appropriate method to crypto currency in the world. This legal status gives our customers our company and the industry as a whole, a very positive perspective for the future.
While the company initially will offer the EU only a few BTC / EUR, other virtual currencies such as Litecoin, Ethereum, Ethereum and Bitcoin Cash Classic, will be added to the BitFlyer platform this year. Its turnover in the last 24. hours almost $ 300 million and currently holds 14. position on Coinmarketcap.
Countries around the world are trying to decide how to regulate kryptowaluty, several States impose license to operate within the established norms for China to close all your exchanges on crypto currency. Japan, in turn, is one of the few countries that officially recognize Bitcoin and other kryptowaluty for the money, which allowed major Japanese banks, whether investing significant amounts of money in BitFlyer.
• Exchange Huobi launches its own token:
Huobi, the exchange of crypto currencies, has announced that 23. February will be given a token – the Token Huobiego (HT). The proposal would be limited to 500 million units, of which 300 million will be offered to investors, and the other part, in particular, will be designated as the awards team.
Proposals should not, however, to understand how the ICO and the press release from Huobi indicates that only users who actively participate in the platform can obtain the HT:
HT is not ICO. Users can get only by purchasing the HT Map point» on Huobi Pro. Point Card is a card that acts as an advance payment for a basic fee for the service. 1 point = 1 USDT.
The announcement also shows that the company is creating a network structure, so it can charge in advance and maintain customer loyalty in the long term:
For example, if you buy a package of 1000 HT, will cost 990 dollars and get 1000 HT. It can be used to offset the cost of trading.
Offer of a token is the last attempt of restructuring the business model of the company after the Chinese rules of the exchanges and ICO.
• The SEC will increase the control companies have in their name the word «Blockchain»:
American companies that change their name to include the word «Blockchain», may soon face increased monitoring by oversight bodies of the American Commission on Securities and exchange Commission (SEC).
Speaking at the Institute of Securities Regulation, the Chairman of the Security Committee – Jay Clayton » – has devoted a small but spiczastą of their comments to the Blockchain technology. In particular, Clayton reacted to the growing phenomenon of companies added the word «Blockchain» to their names.
The result of these changes was a significant increase in the cost of these companies, getting a short-term profit and more advertising. In one case, a company producing beverages, formerly known as Long Island Iced Tea Corp, and then changed to long island Blockchain Corp., increased prices for the shares of the company so far has not been removed from the Nasdaq.
Remained mostly, however, it is doubtful that the company that uses the «Blockchain» in their names, actually interact with technology and the extent to which performing practices in this area.
I doubt that someone from this audience, he believed that it would be acceptable for a public company that has no significant achievements in the commercialization of distributed book, magazine or the technology of the Blockchain and change the name to something like «Blockchain-R-Us» and immediately offering securities without providing investors with Main Street, the relevant information about the changes and associated risks.
Described the situation Clayton closed his Monday remarks on the Blockchain:
SEC looks closely ujawnieniom state-owned companies that are changing their business models to capitalize on the perceived promise of distributed technology, books, history, and the fact that the disclosures comply with the securities act and, in particular, in the case of the proposals.
• UBS, the Bank has not provided its clients about crypto currency:
The President of Swiss Bank UBS Axel Weber said today that he would not advise the Bank’s clients on investment in kryptowaluty, though, distinguish between institutional and retail customers in the discussion threads.
In an interview with CNBC at the world Economic Forum (WEF) in Davos, Weber distinguished between in assisting clients in entering the markets of encryption, unlike assistance to retail customers:
Institutional clients and if they want to invest in Bitcoin, that’s fine, they’re adults. I mean that they know what they are doing, have the opportunity to assess this risk.
On the other hand, according to Weber, the individual customers, often referred to as «investors from Main Street» – must be protected before investing in the market of crypto, due to the presumed ignorance of the products.
Referring to the blame inflicted on banks for selling complex financial products to customers before the catastrophe activity in 2008, Weber has said he wants to avoid repeating the scenario and do not take responsibility if the cryptographic market will mark like busting:
If in the future there will be a retail client, again the question arises, what the Bank sold them these products, and then the Bank will again be accused of what happened.
In January of this year, the North American Association of Securities Administrators (NASAA) and the American Commission on Securities and exchange Commission (SEC), to observe safety precautions. individual investors before the purchase of crypto currency and ICO. One of the main reasons why the NASAA has appointed it, was that individual investors were not sufficiently informed on products that may potentially invest.
• Rebound at stock exchanges:
The entire market continues to go hand in hand with Bitcoinem, causing the display after the last adjustments. The largest kryptowaluty as mentioned Bitcoin as well as Ethereum or Ripple, recorded increase sequentially by 6.2%, 4.5% and 15.7 per cent. From our point of view, BTC is currently circling in the area of 11-12. thousand. dollars it’s a close place upper bound in the context of the next few hours. The capitalization of the entire market is now $ 550 billion and has increased over the past day to 34 billion dollars.
source: cointelegraph.com, bitcoinist.com, coinmarketcap.com.