BLOCKCHAIN

MAJOR CRYPTO EXCHANGES SELF-REGULATE FOR BEST PRACTICE: Several cryptocurrency exchanges have joined forces to form a self-regulatory organization, dubbed the Virtual Commodity Association (VCA), for the nascent cryptocurrency industry. The group, which was initially proposed in March of this year and founded by Cameron and Tyler Winklevoss, has announced Bittrex, bitFlyer, Bitstamp, and the Winklevoss’ own Gemini as its first members. The VCA, which will convene an inaugural meeting in September to flesh out details, has been set up with the intention of establishing a wide-reaching standard for the US digital currency industry. In addition to developing best practices and promoting transparency, the group will look to collaborate with regulatory bodies like the US Commodities Futures Trading Commission (CFTC) to further develop the regulatory landscape. Sigue leyendo

BLOCKCHAIN

US CRYPTO DEALER RAKES IN $22.7 MILLION: SFOX, a Los Angeles-based crypto investment firm, has closed a $22.7 million Series A funding round led by venture groups Social Capital and Tribe Capital. The round also saw participation from DCG, SV Angel, and Blockchain Capital. The company, which caters to institutional investors and professional traders rather than retail customers, aims to centralize prices from different exchanges on its platform. SFOX will use the recently acquired funds to expand its products and services, including its full crypto asset management platform currently being developed. SFOX’s round implies that, despite the drop in crypto prices, there remains resilient institutional demand for digital assets. However, the firm will have to contend with stiff competition from heavyweight Coinbase, which recently launched its own service for institutional investors, and Wall Street giant Goldman Sachs is exploring possible entry points. Sigue leyendo

BLOCKCHAIN

Venezuela trabaja en un Banco Central para criptoactivos

La Asamblea Nacional Constituyente de Venezuela reformará la Constitución. Los cambios incluirían un banco central para criptoactivos y una corte superior del Tribunal Supremo de Justicia.

“Habrá el Banco Central con sus funciones en política cambiaria, monetaria y financiera y se incorporará el Cripto Banco Central”, dijo a Reuters Hermann Escarrá.

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BLOCKCHAIN

GOLDMAN MAY ROLL OUT CRYPTO CUSTODY SERVICES: Goldman Sachs is exploring offering custody services for crypto funds, according to people familiar with the matter cited by Bloomberg. This would result in Goldman holding cryptos on behalf of the funds, providing secure storage for clients. There is no launch date for the new offering yet, and the announcement comes after Goldman said in May that it would launch crypto-related trading options, including derivatives, to allow customers to buy contracts related to price fluctuations in Bitcoin. Offering custody for cryptos seems to be a new movement on Wall Street — Bank of New York Mellon, JPMorgan Chase, and Northern Trust are also looking into offering such services, says Bloomberg. Sigue leyendo

BLOCKCHAIN

WORLD BANK TO ISSUE BONDS VIA BLOCKCHAIN: The World Bank has partnered with the Commonwealth Bank of Australia (CBA) to issue a bond over a private blockchain that was built on top of the Ethereum network, and then checked by Microsoft for its architecture, security, and resilience. The Kangaroo bond, dubbed Blockchain Offered New Debt Instrument (bond-i), was also developed with support from the investor community, including Northern Trust, QBE, and the Treasury Corporation of Victoria. The CBA claims this is the first bond globally to be created, allocated, transferred, and managed using blockchain. It will be operated by the World Bank in Washington, DC and the CBA in Sydney. The aim of bond-i is to reduce poverty and promote sustainable development, an area to which the World Bank commits up to $60 billion in bonds annually. Sigue leyendo

BLOCKCHAIN

KPMG, Deloitte, EY y PwC prueban un sistema blockchain de auditoría fiscal

Las cuatro principales firmas del consultoría y auditoría del mundo (el llamado ‘big four’: Deloitte, Ernst & Young, KPMG y PwC) se han asociado con 20 bancos taiwaneses para realizar pruebas con la tecnología ‘blockchain’ aplicada al campo de la auditoría fiscal, según informaba ayer el medio local CTEE.

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BLOCKCHAIN

COINBASE INTRODUCES INSTANT TRADING FEATURE AND HIGHER LIMITS: Cryptocurrency company Coinbase has announced that users will be able to trade crypto immediately after a purchase, rather than having to wait for their account funds to settle. Although the exchange supports instant wire transfers and debit cards, direct debit purchases have normally taken up to five days to appear. The new update will see customers receive credit for the funds they transfer from their bank accounts immediately, enabling new users to trade cryptos from their USD wallets straight away. However, customers will still have to wait for their funds to settle if they wish to transfer their funds off the exchange’s platform. According to a Sowa Labs survey, 66% of crypto traders expect to have their accounts opened and funds deposited in one day or less, and only 7.5% of those surveyed want to be able to trade after 3 days or more. As a result, this move is likely to help Coinbase attract active traders who currently don’t use the platform and new entrants. Along with lifting new trading restrictions, the fintech unicorn has also raised its trading limits from the previous $25,000 weekly limit, significantly increasing it to $25,000 per day instead. The company said both features will be available to US users in the coming weeks before a wider rollout. Sigue leyendo

BLOCKCHAIN

GOLDMAN MAY ROLL OUT CRYPTO  CUSTODY SERVICES: Goldman Sachs is exploring offering custody services for crypto funds, according to people familiar with the matter cited by Bloomberg. This would result in Goldman holding cryptos on behalf of the funds, providing secure storage for clients. There is no launch date for the new offering yet, and the announcement comes after Goldman said in May that it would launch crypto-related trading options, including derivatives, to allow customers to buy contracts related to price fluctuations in Bitcoin. Offering custody for cryptos seems to be a new movement on Wall Street — Bank of New York Mellon, JPMorgan Chase, and Northern Trustare also looking into offering such services, says Bloomberg.
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BLOCKCHAIN

Casas de cambio chilenas de criptomonedas cederán información fiscal del 2017 a la autoridad tributaria

El Servicio de Impuestos Internos (SII) de Chile solicitó el pasado 20 de julio a las casas de cambio Buda.com, CryptoMKT y Orionx la información fiscal del año 2017 para determinar si existe obligación tributaria alguna por parte de los usuarios. Aunque de Orionx todavía no se tiene la postura oficial, CryptoMKT y Buda.com se mostraron cooperativos con los entes regulatorios.

Si bien, la disputa entre los bancos nacionales y las casas de cambio pareciera haber favorecido a estas últimas con la rehabilitación de sus cuentas bancarias, los entes regulatorios han puesto su atención en la fiscalización de la actividad económica de las casas de cambio, según información brindada por Buda y CryptoMKT.

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