Tagged: exchanges

Bitwise Presentation to SEC Provides Insight into BTC ETF Push as Well as Bogus Crypto Exchange Marketplace

In March, Bitwise Asset Management pitched their case regarding the creation of a Bitcoin ETF to the Securities and Exchange Commission (SEC). While providing a compelling argument as to why the SEC should move forward with their ETF, the presentation also provided some interesting insight… Read More

Viewbase Analyzing Cryptocurrency Exchange Wallet Balances to Cross-Check Volume Reports

“Cryptocurrency market insights and community platform” Viewbase is analyzing wallet balances held by cryptocurrency exchanges to evaluate the accuracy of trading-volume figures reported by them. Viewbase claims to have found, “a huge disparity between the Ether balances and the reported trading volumes by exchanges.” “Reported versus… Read More

12 Crypto Exchanges Partner with CoinMarketCap to Address “Fake Trading Volumes in Crypto,” Launches Data Accountability and Transparency Alliance

Many cryptocurrency exchanges are lightly regulated or simply not regulated at all. This has led to rampant claims of bogus trading volumes as some exchanges use wash trading or other ploys to boost volume and the appearance of relevance. The Blockchain Transparency Institute has been… Read More

Source: Japan Upping Internal Oversight Requirements Regarding “Cold Storage” at Crypto Exchanges

The recent loss of $190 million CAD by the now-defunct Canadian cryptocurrency exchange QuadrigaCX appears to have alerted regulators across the globe to additional complexities affecting the safe storage of cryptocurrencies at relevant businesses. Quadriga has claimed it lost access to the funds following the… Read More

Japan to Cap Leveraged Crypto Trading at 2-4X, Down from 25X

The Japanese government has approved proposed amendments to laws governing cryptocurrency trading that will, among other things, cap leveraged trades permitted in Japan at 2-4X, Nikkei Asian Review reports. Presently, “Certain exchanges voluntarily cap leverage at 25 times the deposit, as with the rule for… Read More

Software-Bug Bounty Hunters Find 43 Errors in Coinbase, EOS, Monero, Brave, Tezos, OmiseGo and Unikoin Code

Thirteen (13) cryptocurrency companies have been issued 43 code vulnerability reports from “vulnerability disclosure platform” Hacker One, all in the past 30 days, Hard Fork reports. The bugs were found by white hat hackers pursuing rewards from “bug bounty hunter” programs. All told, the hackers… Read More

Denmark: Tax Agency to Require Danish Crypto Exchanges to Provide Customer Details on Trading

The Danish Tax Agency has been authorized to obtain information on trading in cryptocurrencies via three separate crypto exchanges operating in Denmark. This will mark the first time the information is being made available to the tax authorities which seek to review trading data on crypto beginning on January 1, 2016, up to December 31, 2018. Skattestyrelsen har fået tilladelse… Read More

Bulgarian Tax Officials Scrutinizing Local Crypto Exchanges and Their Users for Tax Compliance

The Bulgarian National Revenue Agency (NRA) is launching a series of “control actions” to inspect nine cryptocurrency exchanges operating in the region, Novinite reports. The inspections are being conducted in order to ensure that clients and the companies themselves are complying with local tax requirements…. Read More

Majority of Korean Crypto Exchanges Fail Security Check

Investigators from the Korean Ministry of Science, Technology and Information and the Korea Internet Development Agency (KISA) have found “weak” security at 31 0f approximately 38 crypto exchanges studied, ZDNet reports. Investigators deployed an 85-point security checklist to participating exchanges and found that, “14 exchanges… Read More

Algorithms Detect Wash Trading Across 95% of Crypto Exchanges

“An enormous amount of data” collected by the Blockchain Transparency Institute (BTI) in its December 2018 Exchange Volumes Report shows, “clear evidence of wash trading,” across 80% of bitcoin-altcoin pairs on 95% of exchanges: “Based on this data over 80% of the CMC (CoinMarketCap) top… Read More

Cambridge Centre for Alternative Finance Publishes Definitive Global Cryptoasset Benchmarking Report

The Cambridge Centre for Alternative Finance (CCAF) has just published their second annual report on cryptocurrencies and the digital asset ecosystem. The Global CryptoAsset Benchmarking study is a must read for any industry participant and policymakers engaged in the regulatory oversight of cryptoassets as the… Read More

Korean Parliament Holding Special and First Ever Session Today to Discuss Cryptocurrency Exchanges

Members of South Korea’s Democratic, Liberal-Democratic and Right Future Party will hold their first debate on the subject of cryptocurrency exchanges today in the Korean parliament, local media outlet Hani reports. Cryptocurrency exchanges have been operating in Korea since 2013 and exchanges there are some… Read More

Indian Government Says Regulations for Crypto Sector Expected by March

A court case brought against the Central Bank of India for advising Indian banks to stop serving cryptocurrency exchanges has forced the Indian government to produce an affidavit that includes a timeline on when sector regulations can be expected, Quartz reports. The advisory to stop… Read More

House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies

After holding a series of 18 meetings to review Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the House Finance Committee has recommended that the Government of Canada regulate cryptocurrency businesses to prevent criminal use, iPolitics reports. The committee has been conducting meetings to… Read More

Attorney on SEC Crypto Exchange Enforcement Action: “Settlement May Be Only the First”

Today, the first enforcement action was taken by the Securities and Exchange Commission (SEC) against a cryptocurrency exchange; EtherDelta. Prior to this, the SEC had only targeted issuers and promoters of crypto – largely for fraud and selling unregistered securities.  While the action against EtherData is… Read More

First Crypto Exchange Enforcement Action: SEC Settles Charges with Zach Coburn & EtherDelta Regarding Operation of an Unregistered Exchange

The Securities and Exchange Commission (SEC) has settled charges against Zachary Coburn, the founder of EtherDelta, a cryptocurrency exchange. This is the SEC’s first enforcement action against a crypto exchange and marks a noted shift in the Commission’s dealing with secondary transactions of digital assets. The SEC… Read More

Report: Wash Trading & Lack of Transparency is a Pressing Problem for Crypto Exchanges: Bogus Volume is Rampant

The Blockchain Transparency Institute (BTI) has published their second exchange rankings report and according to their numbers – wash trading persists as a profound problem as crypto exchanges seek to boost their perceived relevance in the lucrative sector of crypto. According to the BTI: “many of these exchanges are… Read More

Attorney on SEC & Crypto Asset Marketplaces: “By Not Allowing Intermediaries They Are Stifling Innovation”

Recently, at the StartEngine Summit during LA Blockchain Week, CI had the chance to sit down with prominent securities attorney Linda Lerner. Lerner is Senior Counsel at Crowell Moring and a veteran lawyer with deep experience and expertise in securities issuance and regulation of stock exchanges…. Read More

Hong Kong Exchange to Incorporate Blockchain Tech as it Moves Towards Digital Assets

Announced last week during Hong Kong Fintech Week, the Hong Kong Exchange (HKEX) has partnered with “Digital Asset” to incorporate blockchain tech as part of the trading process. In a speech by Charles Li, the Chief Executive of HKEX, the successful testing of a prototype… Read More

Coinbase Exchange Cuts Remote Staff

Though Coinbase announced it raised $300 million “from high-quality investors” last week, the cryptocurrency exchange also laid off an estimated 15 people working remotely in support, compliance, and fraud departments, Yahoo Finance reports. Coinbase would not confirm how many employees were cut, it did admit… Read More

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