29 Cryptocurrencies Delisted on Liquid Exchange to Comply With Singapore’s FATF Crypto Regulation | Exchanges Bitcoin News

29 Cryptocurrencies Delisted on Liquid Exchange to Comply With Singapore's FATF Crypto Regulation | Exchanges Bitcoin News

29 Cryptocurrencies Delisted on Liquid Exchange to Comply With Singapore's FATF Crypto Regulation

A major Japanese cryptocurrency exchange, Liquid, has delisted 29 cryptocurrencies to comply with the crypto regulation in Singapore in an effort to become a licensed crypto exchange operator in the country. Singapore has been enhancing its crypto regulation in line with the standards set by the Financial Action Task Force (FATF).

One of the largest cryptocurrency exchanges in Japan, Liquid, has applied for a license to operate in Singapore. Its parent company, Quoine, is licensed by the Japanese Financial Services Agency (FSA). Liquid announced last week:

Due to heightened compliance requirements set by Singaporean regulations, some listed tokens cannot continue to trade on Liquid and will be taken off the markets.

As of Monday, the cryptocurrencies that have been or will be delisted are SNX, MITH, DRG, WLO, STORJ, WIN, VUU, XNK, PPL, ENJ, AMLT, DENT, FSN, GEN, LND, MITX, SPHTX, MRK, BRC, XMR, NEO, IPSX, ADH, ZEC, IHF, PMA, XLM, QAX, and HYDRO.

Trading and deposits have already been halted for some of these cryptocurrencies and their trading pairs but customers can still withdraw their coins. Nonetheless, the exchange noted that “Some of these tokens are undergoing talks with regulators and may be re-listed in the near future.”

Singapore has been working on implementing stricter rules on crypto exchanges to comply with the FATF standards. The Monetary Authority of Singapore issued a consultation paper on July 21 describing “enhanced standards” of the AML/CFT requirements for virtual asset service providers (VASPs). The consultation paper can be found here.

What do you think about Liquid delisting coins to comply with crypto regulation? Let us know in the comments section below.

Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: Exchanges

by
Kevin Helms


CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News

CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News

Enel Group, an Italian multinational energy company with over € 73 billion in annual revenue in 2018, has been attacked using ransomware, according to a Bleeping Computer report on October 27.

With the acquisition of Openfinance, INX announced that operations and servicing of Openfinance’s customer base will continue. INX President and Founder Shai Datika believed that Openfinance had earned the respect of Wall Street, the blockchain community and US regulators, and that these exploits would enable INX to offer investors greater access to liquidity.

According to a recent news announcement, JPM Coin has already launched and is reportedly being used by a major tech company to send payments around the world. A newborn digital asset is considered an indicator of the company’s digital currency goals and the expectation that more commercial customers will use its stablecoins in the future.

Source: cryptolearningvideos.com

Author: by admin


Southeast Asia's Largest Bank DBS Plans to Launch a Cryptocurrency Exchange

Southeast Asia’s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange

Southeast Asia's Largest Bank DBS Plans to Launch a Cryptocurrency Exchange

The Singaporean multinational banking and financial services corporation DBS published an announcement revealing it was launching a cryptocurrency exchange. The announcement was later removed by the company, but crypto proponents have learned about the upcoming support for assets like bitcoin, ethereum, and bitcoin cash.

DBS Bank Ltd is Southeast Asia’s largest bank in terms of assets under management (AUM), as the corporation’s 100+ branches hold more than $600 billion today. The bank published information on the subject and then swiftly removed the announcement. However, a number of cryptocurrency proponents caught the DBS statement before the bank deleted it. The Twitter account dubbed ‘Fiat Minimalist’ tweeted a screenshot and said: “Cat’s out of the bag.”

“This has been in the works for 2 years,” Fiat Minimalist told his 2,300 followers. “All banks will have to follow suit. Imagine being bearish [toward] BTC,” he added. The announcement has also been caught in the web’s cache and is now hosted on Archive.org as well. “DBS Digital Exchange offers trading services from fiat currencies to four of the top digital currencies in circulation – Bitcoin, Bitcoin Cash, Ether, and XRP,” the DBS Digital Exchange website reads.

Southeast Asia's Largest Bank DBS Plans to Launch a Cryptocurrency Exchange

The DBS Digital Exchange page also states:

Unlike most digital exchanges today, DBS Digital Exchange does not hold any digital assets. Instead, all digital assets are kept at DBS Bank, which is globally recognised for its custodial services. To keep customers’ digital assets safe, DBS Bank has deployed DBS Digital Custody, an institutional-grade custody solution specially tailored for safekeeping digital assets.

The news about the newly created DBS Digital Exchange follows the announcement made by the payments giant Paypal last week. Additionally, in September it was revealed that U.S. banks are now allowed to hold reserves for stablecoin issuers.

The new DBS trading platform also plans to allow for security token offerings. “Companies searching for a regulated option to raise private capital from qualified investors can now tap on DBS Digital Exchange to securitise real assets into tradeable digital tokens,” DBS notes.

Furthermore, DBS thinks that cryptocurrencies are “the future of capital markets.”

“Digital assets are poised to be the future of tomorrow’s digital economy. With DBS Digital Exchange, a bank-backed digital exchange, companies, and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies,” the DBS exchange announcement concludes.

What do you think about Southeast Asia’s largest bank DBS announcing a crypto exchange? Let us know in the comments section below.

announcement, arp, Banking, banks, Bitcoin, bitcoin cash, Crypto, Cryptocurrency, DBS bank, DBS Bank Ltd, DBS Digital Currency Exchange, DBS Digital Exchange, DBS Ltd, Ethereum, Fiat Minimalist, Financial Services, multinational banking, Security Tokens, stablecoin issuers, STO, XRP

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: News

by
Jamie Redman


Zimbabwe's Stock Exchange Open to Crypto Listing Subject to 'Regulatory Approval' | Exchanges Bitcoin News

Zimbabwe’s Stock Exchange Open to Crypto Listing Subject to ‘Regulatory Approval’ | Exchanges Bitcoin News

Zimbabwe Stock Exchange (ZSE) CEO Justin Bgoni says its recently licensed subsidiary, the Victoria Falls Stock Exchange is open to listing bitcoin and other cryptocurrencies. However, according to local media reports, any such listings are still dependent on the digital asset issuers getting “regulatory approval.”

The report does not provide any details of requirements that cryptocurrency issuers must meet for their respective tokens to get listed. Furthermore, some in Zimbabwe’s small crypto community are still skeptical about the announcement especially since it is not coming from the regulators. Others say the statement attributed to the ZSE executive exposes the limited understanding of decentralized cryptocurrencies like bitcoin.

Also reacting to the report is Prosper Mwedzi, a financial services lawyer and blockchain enthusiast. Mwedzi, who is cautiously optimistic about the plan, explains what the latest announcement means:

“I think it is positive that they are talking about it but they did say it is subject to regulatory clearance. At the moment the Reserve Bank of Zimbabwe (RBZ) is doing a fintech policy but not a crypto policy.”

According to Mwedzi, exchanges are the jurisdiction of the Securities and Exchange Commission of Zimbabwe (SECZ), and “they have not said anything yet about how they view crypto.” He explains that Zimbabwe is yet to go the route taken by other African countries like Nigeria which recently classed cryptocurrencies as securities.

In 2018, the country’s central bank issued a notice advising Zimbabweans to steer clear of risky cryptocurrencies. During the same year, the central bank forced the closure of the country’s then-largest cryptocurrency exchange, Golix.

However, since late 2019, the central bank has been carefully issuing statements that appear to show a changed stance on cryptocurrencies and other emerging financial technologies. These statements however have not led to amendments or changes to the relevant regulations.

Still, Mwedzi suggests that the ZSE may have “kicked the ball in the court of SECZ and it now depends on whether they (SECZ) decide to be proactive or not.”

It remains to be seen if statements by the ZSE executive will nudge regulators into recognizing cryptocurrencies.

What do you think of reports that ZSE plans to list cryptocurrencies? You can share your views in the comments section below.

Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: by
Terence Zimwara


Ripple XRP Price Today 📈 Live Ripple Prices, Charts & Market Updates

Ripple XRP Price Today 📈 Live Ripple Prices, Charts & Market Updates

Ripple is one of the best-known cryptocurrencies and a popular choice for investors who want to buy cryptocurrency without spending a great deal of money due to its typically low price in comparison to Bitcoin and Ethereum. Ripple is a platform as well as a cryptocurrency, XRM. Ripple aims to connect payment providers and banks to create a frictionless method of receiving and sending money around the world. Looking at the price history of Ripple can tell you a great deal about this cryptocurrency, providing important insights.

Instead of just looking at figures related to Ripple price history, you should take the time to understand the cryptocurrency’s history, as well. This will help put the various data in perspective, so you can better understand the price fluctuations. The idea behind Ripple was first conceived in 2004 by Ryan Fugger, who wanted to develop a decentralized platform which let communities and individuals make their own money. This led to the very first version of the Ripple system, Ripple Pay in 2005.

With the development of cryptocurrency, Jed McCaleb started to develop a digital currency of his own in 2011. He wanted a currency that did not use mining like Bitcoin, instead reaching value via consensus. In 2012, Fugger let Jed McCaleb and his partner Chris Larsen control Ripple, which became OpenCoin, before returning to the name Ripple in 2013. By 2014, Ripple was the second-largest cryptocurrency in the world.

To put the following information about Ripple’s price history in perspective, consider that at the time of writing, it is worth $0.498111 USD or 0.00007807 BTC. The market cap of Ripple is $20,026,818,528 USD with a 24-hour volume of $603,425,348 USD. There is a total supply of 99,991,792,688 XRP, of which 40,205,508,733 XRP are circulating. According to CoinMarketCap, Ripple is ranked number 3, showing that despite its low value compared to other cryptocurrencies, XRP accounts for a sizeable percentage of the crypto market.

As with most of the early cryptocurrencies, when Ripple began, it was highly affordable. During August and early September of 2013, Ripple remained at less than 1 cent USD. At this point, the price fluctuated around $0.005 to $0.006 until mid-September, when it began spiking upward, reaching $0.007 on the 15th and $0.01 on the 19th. From there, the price briefly dropped slightly before going to a new high of $0.014 on Sept. 28. From there, it bottomed out at $0.0078 on Oct. 2 before fluctuating up and down. The next high was $0.01 on Nov. 8, followed by a low of $0.0079 on Nov. 20.

From that low, the price of Ripple quickly spiked, reaching $0.0575 on Dec. 2 before dropping in a jagged pattern, hitting slightly smaller highs of $0.0544 on Dec. 4 and $0.044 on Dec. 10. The price then went all the way back down to $0.017 on Dec. 18 before rising up to $0.029 by Jan. 2 and slowly dropping until it reached $0.0044 by May 22. From there, the price did not fluctuate much until the end of the year, but it did get down to $0.003 on July 5 before rising to $0.0064 on July 18. The price of Ripple remained more or less in this range until November of 2013, at which point another price spike occurred.

As with the previous year, the price of Ripple experienced a dramatic increase in value at the end of 2014, which lasted a few months before correcting itself over the next several months. Around Nov. 19, the price was still at $0.0057, but from there on, it began a steady climb. It reached a mini-peak on Nov. 23 at $0.00868 before climbing to $0.0152 by Nov. 28 and dropping back to $0.011 by Nov. 30. From there, XRP hit $0.0147 on Dec. 7 and reached this phase’s maximum peak on Dec. 18, when it hit $0.028.

As was the case the previous year, this did not last long and other than high points at $0.026 on Dec. 22 and $0.025 on Dec. 26, Ripple declined in price. It hit $0.019 on Jan. 4, 2015, before rising slightly, then hit $0.0147 on Jan. 14, rose slightly, and hit $0.0131 on Feb. 3. This trend of ups and downs continued, with Ripple’s pricing hitting a low of $0.00574 on May 18. From there, the rest of 2015 saw mild fluctuations, reaching up to $0.0119 on June 29 before falling to $0.00746 on July 23. There was a brief spike in early November, with XRP reaching $0.0056 on the 4th, but other than this, the price remained in the same range.

Following the trend of spikes in Ripple’s value late in the year, XRP went from $0.0041 on Dec. 1, 2015, up to $0.008997 on Dec. 10. By Jan. 17, it was already back down to $0.005. Throughout 2016, Ripple remained within the general range, not getting back up to $0.02 until April 4, 2017. From there, it rose and by May 18, 2017, Ripple was at $0.355. It remained in this general range until December.

As with previous years, Ripple’s price once again had a spike in value in late 2017 and early 2018. This time, however, it also corresponded to a massive increase in the cryptocurrency market with Bitcoin, Ethereum, and other coins reaching their all-time highs at the same time. On Dec. 10, 2017, right before the price spike, Ripple was at $0.239. This hit $0.746 by Dec. 14, $1.11 by Dec. 22, $2.38 by Dec. 30, and the all-time-high to date of $3.55 on Jan. 4, 2018. Following the price of $3.41 on Jan. 7, Ripple dropped with a few peaks and valleys along the way, reaching $0.489 on April 5 and going back up to $0.837 on April 21. From there, Ripple very slowly declined to $2.61 on Sept. 11, before rising slowly back up to its current position.

Source: blockonomi.com


Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption | News Bitcoin News

Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption | News Bitcoin News

Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption

The island country of Saint Kitts and Nevis, located in the West Indies, recently passed a bill that legalizes digital currency assets like bitcoin cash. The act is cited as the Virtual Asset Bill 2020 and it aims to provide the regulation of cryptocurrencies for Saint Kitts and Nevis businesses and residents.

Also Read: IOTA, EOS, XLM, ADA – 4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure

Saint Kitts and Nevis Financial Services Regulatory Commission have established the new Virtual Asset Bill 2020 within the Federation of islands. The bill was created to apply regulatory frameworks to cryptocurrencies used in the region. The two islands represent a Commonwealth realm and the country’s decision follows a similar bill enacted in Antigua in 2018. Prime Minister Dr. Timothy Harris told regional press that the new bill will “ensure that each provider participating in virtual asset services in the Federation are subjected to registration and the supervisory regime.”

Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption

“[This] would allow for compliance with the existing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) legislative framework in St. Kitts and Nevis and by extension, comply with the related international standards set out by the Financial Action Task Force (FATF),” Harris added. Under the Federation of Saint Kitts and Nevis’s latest bill residents and business are legally allowed to:

  • Exchange between a virtual asset and fiat currency;
  • Exchange between one or more forms of virtual assets;
  • Transfer of a virtual asset whether or not for value;
  • Safekeeping or administration of a virtual asset or instruments enabling control over a virtual asset; and
  • Participation in and provision of financial services related to an issue or sale of a virtual asset;
  • As news.Bitcoin.com reported in December 2019, Saint Kitts and Nevis is a popular choice for those looking for a second passport. The Federation is one of the most well known regions worldwide for obtaining dual citizenship. Saint Kitts and Nevis Citizenship by Investment Program was established in 1984 and it gives citizenship either through donation or a real estate investment. Just like the new Virtual Asset Bill 2020, the country’s tax laws are pretty lenient compared to places like the U.S. or other countries in Europe. For instance, unless you try to sell an asset within one year of acquisition, no capital gains tax is levied in the Federation. If you do happen to sell before the one-year holding period, then the assets are subject to a 20% capital gains tax.

    After the Federation Virtual Asset Bill 2020 passed, the website citizenshipbyinvestment.ch wrote that “virtual currency payments provide the cheapest alternative solution to banking fee and correspondent banking issues faced by the Caribbean.” The website also spoke with Bitcoin.com’s Executive Chairman Roger Ver. The entrepreneur acquired citizenship through the Federation’s program in 2014 after renouncing his U.S. citizenship. “The big benefit is in addition to being able to pay someone from across the cash register table or across the room, you can pay people across the planet,” Ver explained. The Bitcoin.com executive added:

    As you know, many of the cars in St. Kitts are bought from Japan, by using a virtual currency you can pay from here to Japan instantly for a tenth of a penny, whereas with the bank wire transfers will cost you a bunch of money and take at least several days.

    The Federation’s capital gains guidelines also apply to all types of assets like gifts and inheritance. People researching the friendlier tax laws in Saint Kitts and Nevis will recognize the system of taxation is one of the most lenient worldwide. With friendly capital gains tax laws and the latest bill that legalizes cryptocurrency assets like bitcoin cash (BCH), the Federation of Saint Kitts and Nevis might look even more tempting to those searching for dual citizenship.

    What do you think about Saint Kitts and Nevis passing the Virtual Asset Bill 2020? Let us know what you think about this subject in the comments section below.

    Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

    Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

    Source: news.bitcoin.com

    Author: News

    by
    Jamie Redman


    29 Cryptocurrencies Delisted on Liquid Exchange to Comply With Singapore's FATF Crypto Regulation | Exchanges Bitcoin News


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