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The Ontario Securities Commission Flags Crypto Exchanges CEO’s Tweet to Law Enforcement

by Blockchain NewsFebruary 23, 2022

The Ontario Securities Commission has flagged Twitter posts to the law enforcement by the CEOs of cryptocurrency exchanges Kraken and Coinbase Global Inc., according to the Logic report.

Kraken CEO Jesse Powell and Coinbase CEO Brian Armstrong took to Twitter to criticize the Canadian government’s emergency blockade of the truck protests and demand that decentralized, non-regulated crypto wallets be stopped and sent to Canada RCMP.

As previously reported by Blockchain.News, The Royal Canadian Mounted Police has asked several Canadian cryptocurrency exchanges to block transactions on 34 crypto wallets related to the truckers’ “Freedom Convoy” protest, citing to the Financial Post report.

The restrictions require people who enter the country to be vaccinated against COVID-19, resulting in protests against Canadian Prime Minister Justin Trudeau’s government’s mandatory vaccinations, triggered by truck drivers from the United States.

Last week, the Trudeau government blocked much of downtown Ottawa, centred on the National Parliament building, for nearly three weeks in response to the protests and provided financial support to affected businesses.

Meanwhile, Canadian financial institutions are required to conduct a thorough investigation of the relevant financial accounts of the protesters and freeze them.

Reportedly, the Canadian police have frozen 219 financial products, disclosed 57 entities, shared the addresses of 253 bitcoins with virtual currency exchangers. the RCMP said that the payment processor’s account was actively frozen “worth 380 million dollars ($3 million).”

A Kraken spokesman declined to comment on the case late Tuesday and said the exchange complies with all regulatory requirements and regularly responds to requests from law enforcement.

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Crypto.com and Mobilum Technologies Form a Strategic Partnership, Provide Crypto Liquidity Services

by Blockchain NewsFebruary 23, 2022

Mobilum Technologies Inc has signed a strategic service agreement with Crypto.com. The former firm will integrate Mobilum’s algorithms to provide token liquidity services to provide crypto.com customers with better services.

Mobilum Technologies Inc, a Vancouver-based licensed financial institution, is the first solution provider of Fiat-to-Dex Tokens rails to access the cryptocurrency space through traditional financial payment methods, offering Visa and Mastercard payment as well.

Crypto.com, a Singapore-based digital cryptocurrency exchange found in 2016, has experienced substantial growth in the past 12 months, adding more than 1,500 employees. Currently, it has more than 2,500 employees, and the Crypto.com user base has grown five times, more than 10 million, with a business scope covering more than 90 countries around the world.

Mobilum CEO Wojciech Kaszycki said the establishment of the strategic partnership is a very important milestone, adding that:

“We look forward to a long-term partnership with Crypto.com and will leverage our proprietary algorithmic trading platform to provide liquidity services to the Crypto.com platform and other tokens/customers wishing to list on their platform,”

On October 1, 2021, Mobilum launched its automated high-frequency trading engine that uses predetermined quantitative data to buy and sell Bitcoin, Ethereum and other cryptocurrencies on multiple exchanges within milliseconds to drive cryptocurrency trading. This crypto trading engine enables smart, secure, and lightning-fast trading to reduce risk and increase revenue.

As reported by blockchain.News on February 13, Crypto.com chose the NBA’s four-time most valuable player (MVP) LeBron James as its new catalyst for mainstream adoption.

The crypto exchange has been making notable strides to have a worldwide presence. For instance, in a $700 million deal, the firm agreed with AEG to have Staples Center, the official home of NBA’s Los Angeles Lakers, renamed to Crypto.com Arena in November 2021. Crypto.com also signed a five-year partnership agreement with the Australian Football League (AFL) worth $25 million last month.

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Tagged : Bitcoin / Blockchain / Crypto / Crypto.Com / Enterprise / Exchange / MOBILUM

Bitcoin Gains Momentum as Biden Slaps Russia with Sanctions

by Blockchain NewsFebruary 23, 2022

Bitcoin (BTC) entered the green zone after U.S. President Joe Biden revealed new sanctions meant to cut off Russia from western finance, according to Bloomberg.

The leading cryptocurrency was up by 3.66% in the last 24 hours to hit $38,151 during intraday trading, according to CoinMarketCap.

Bitcoin experienced headwinds on Feb 18 that drove the price below the psychological level of $40,000 for the first time in two weeks. This happened amid intensified tension between Ukraine and Russia that a full-blown war was inevitable.

Russia had marshalled more than 100,000 troops to the border. This move led to volunteer groups and NGOs in Ukraine receiving Bitcoin donations to support their army with drones, medical supplies, and military gear.

The new sanctions against Russia were instigated by Russian President Vladimir Putin’s move to sign a decree recognizing two breakaway regions of eastern Ukraine as independent entities. Biden also announced that the U.S would aid the countries in the Baltic region and Poland with additional troops and supplies.

The Ukraine-Russia tension has prompted geopolitical factors that have not been friendly to the crypto market. Things have not been rosy to the extent that some analysts have predicted that Bitcoin might nosedive to the $30K region, a scenario not seen since May last year.

Nevertheless, the $36K-$37K zone has emerged as significant support, which must be sustained to avoid further slips.

With Bitcoin having surged to the $38,000 area, it needs to flip it to support because it is a high resistance zone proved to be a headache in January. Furthermore, the geopolitical factors playing out will majorly determine BTC’s next move.

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Tagged : Analysis / Bitcoin / GEOPOLITIC / Joebiden / Market / Russia / Ukraine / Vladimir Putin

Brazilian Senate Committee on Economic Affairs Approves Crypto Regulation Bill

by Blockchain NewsFebruary 23, 2022

Crypto regulation on Brazilian soil gained steam after the senate’s economic affairs committee approved a bill, highlighting the ground rules and day-to-day usage of digital currency funds.

The committee passage is crucial in the legislative process because the bill awaits a vote on the Senate floor. If it sees the light of day, the final stages will entail approval by the lower house and signing into law by President Jair Bolsonaro.

Per the announcement:

“Under the proposal, the federal government decides which body will be responsible for regulating business with cryptocurrencies.”

Senator Iraja Abreu, the bill’s rapporteur, noted that the mandate of regulating cryptocurrencies would be undertaken by the nation’s central bank, which played a critical role in creating the draft.

If the bill is passed into law, Brazil will emerge as the largest Latin American country to set the crypto regulation ball rolling needed to shield investors from risks and avert money laundering practices.

Per the report:

“Virtual asset service providers must prevent money laundering and concealment of assets, while combating criminal organizations, the financing of terrorism and the proliferation of weapons of mass destruction.”

If these rules are violated, the bill guarantees fines and imprisonment.

Nations across the globe are gearing up to the crypto space, with El Salvador already having set foot in the Bitcoin sector by making the leading cryptocurrency legal tender in September last year. Some of the benefits prompted by this move entail El Salvador’s tourism sector surging by 30% as more foreign visitors continue flocking the nation.

On the other hand, Ukraine recently legalized Bitcoin, and this move was seen as a stepping stone towards opening the nation’s doors to crypto companies.

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Tagged : Bitcoin / Brazil / Crypto / Cryptocurrencies / Latin America / Legislation / Regulation

NYSE Owner Purchases Stake in tZERO

by Blockchain NewsFebruary 23, 2022

New York Stock Exchange’s (NYSE) parent company Intercontinental Exchange Inc (ICE), announced the purchase of a stake in tokenized securities venue tZERO.

The announcement also added that ICE Chief Strategy Officer David Goone will become tZERO’s new chief executive officer next month. ICE’s investment will make it a “significant” minority shareholder in tZERO. However, the announcement did not provide the stake size or dollar value of the transaction.

TZERO is currently working to remake U.S. stock trading into a blockchain-powered business. The company runs a trading system where corporations can list digital versions of their stocks.

Currently, only a few companies have signed up for tZERO’s system.

Goone, tZERO’s new CEO, said: “I look forward to bringing my three decades of product innovation and strategic experience forged in the exchange and derivatives trading industry to drive continued growth and operational excellence at tZero.”

Other investors include tZERO’s original investor, Overstock.com and Medici Ventures, a blockchain-focused fund.

ICE has hugely invested in cryptocurrency exchange Bakkt.

The NYSE has also filed for an NFT trademark application with the United States Patent and Trademark Office (USPTO) on February 10, Blockchain.News reported.

According to the official announcement, the application submitted by the NYSE involves virtual reality and augmented reality software, non-fungible tokens or online markets.

The NYSE hopes it will offer “downloadable virtual goods” for NFTs and digital collectables, using blockchain technology for authentication, the report added.

This trademark application implies NYSE’s determination and plans to launch the NFT market and explore the blockchain and NFT market.

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Tagged : Bitcoin / Blockchain / Finance / Ice / Nyse / Tzero

Brazilian Crypto Exchange Foxbit Raises $21M in Series A funding, Led by OK Group

by Blockchain NewsFebruary 23, 2022

Cryptocurrency exchange Foxbit operating in Brazil, which is trading Bitcoin, Ether, Litecoin, TrueUSD and XRP etc, has announced that it has raised $21 million in a Series A round led by OK Group, owner of cryptocurrency exchange Okcoin.

Foxbit on Tuesday said that the funds raised will be used to develop new technologies, expand the company’s products and technical teams, and potential acquisitions, and will focus on reducing transaction fees by integrating blockchain networks and attracting more Brazilian investment.

João Canhada, CEO of Foxbit said in a statement that:

“The company has evolved a lot in recent years and together with my partners we understood that this investment was now a necessary step to further improve the services provided to our customers.”

Foxbit was founded on Dec 10, 2014, by the company’s CEO João Canhada, Luís Augusto Schiavon Ramos. Prior to this Series A funding, Foxbit has raised a total of $130K in funding over two rounds. The last funding was raised on Apr. 1, 2016, from a Seed round.

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Tagged : Bitcoin / Blockchain / Crypto / Exchange / Finance / FOXBIT / Okcoin

Coinbase Adds Support for Ledger Hardware Wallets

by Blockchain NewsFebruary 23, 2022

Coinbase Global Inc, the biggest exchange in the United States, has confirmed that its Wallet browser extension is now available for the Ledger Hardware Wallets, a move that was initiated to bring an added layer of security to its users.

As the announcement published in a blog post by Adam Zadikoff, Senior Product Manager at Coinbase Global, the integration will provide “an additional layer of security and greater peace of mind” to all of its customers.

“Today, we are adding support for Ledger hardware wallets in the Coinbase Wallet browser extension, introducing an additional security option for our users,” he introduced the detail by adding that “Hardware wallets are physical devices that store the private keys to your crypto wallet offline. Because every transaction on the blockchain requires both a user’s public and private keys, a hardware wallet ensures that only the user who holds the physical device can complete a transaction.”

Since the launch of the Coinbase Wallet, both through the mobile app and its browser extension, the trading platform has played a pivotal role in helping its users to connect to the growing hoard of DApps and earn interest from a variety of Web3.0 protocols. The wallet is allegedly easy to use. According to Adam:

“Whether you are a first-time hardware wallet user or already have a Ledger it is easy to use Coinbase Wallet to connect to the ever-growing world of NFTs, dapps, and DeFi. All you need to do is download the Coinbase Wallet browser extension, connect your Ledger to your computer, and follow the on-screen instructions.”

While there are numerous hardware wallets in the market today, Ledger is one of the most prominent with over 4 million users. Through the launch, both Coinbase and Ledger have debuted a limited edition of the Nano X Coinbase Edition which users can use to gain more personalized self-storage services.

According to Adam, a host of related integrations of hardware wallets will be initiated in the coming future.

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Tagged : Coinbase / Exchanges / Ledger / Wallet

Coinbase Adds Support for Ledger Hardware Wallets

by Blockchain NewsFebruary 23, 2022

According to Adam, a host of related integrations of hardware wallets will be initiated in the coming future.

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Tagged : Coinbase / Exchanges / Ledger / Wallet

London Stock Exchange Acquires Cloud-based Tech Provider TORA for $325M

by Blockchain NewsFebruary 23, 2022

London Stock Exchange Group (LSEG) plans to acquire U.S. cloud-based technology provider TORA for $325 million, Reuters reported on February 22.

The acquisition will add digital currency assets to its exchange to meet growing investor demand for diversified investment tools. The deal is expected to close in the second half of this year, subject to regulatory approvals, reports said.

Led by CEO Robert Dykes, cloud trading provider TORA provides clients software trading solutions in equities, foreign exchange, fixed income securities, derivatives and cryptocurrencies.

The transaction will strengthen LSE Group’s presence in fast-growing sectors, particularly in Asia and North America.

Dean Berry, head of transaction and banking solutions, said in a statement：

“Acquiring TORA will enable LSEG to deliver critical ‘at trade’ capabilities for the buy-side.”

TORA’s crypto trading solution, called Caspian, will combine cryptocurrency prices, buy and sell information, orders, positions, accounts, and executions across multiple cryptocurrency exchanges into a single platform for clients. The solution also provides intelligence and the order router technology sending timely information required by the customer to the corresponding exchange.

LSEG said that：

“The addition of digital assets to LSEG’s trading capabilities strengthens its presence in this rapidly expanding asset class at a time when institutional market participants are increasing exposure to crypto and other digital assets.”

Dean Berry said the acquisition would allow LSEG to expand its trading operations worldwide.

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Tagged : Acquisition / Bitcoin / Blockchain / Enterprise / Exchange / LONDON STOCK EXCHANGE GROUP / LSEG / TORA

FCA Warns Companies on Crypto Mergers

by Blockchain NewsFebruary 23, 2022

The crypto market in the UK received a warning from the financial watchdog following an acquisition announcement by Bitpanda.

The EU regulated Austrian exchange announced that it would buy DeFi custodian Trustology, which is regulated by the Financial Conduct Authority (FCA) through the Money Laundering Regulations (MLR) register.

The acquisition is reportedly the first of its kind in the UK market.

Bitpanda’s move is also a first step towards transforming its Bitpanda Pro platform into a fully-fledged prime brokerage business.

However, shortly after the announcement, the FCA said that existing regulations for crypto firms do not include provisions.

It allows the watchdog to assess how well new owners meet its requirements if a regulated firm is bought out.

“The FCA can take steps to suspend or cancel the registration of a crypto asset business if it is not satisfied the firm or its beneficial owner is fit and proper,” it said.

While the FCA’s other regimes include the powers to supervise, authorize or enforce against firms operating in the UK.

The FCA also went on to further add that it could suspend or cancel a firm’s crypto-asset registration for various reasons, including where a firm has not complied with obligations under MLRs.

However, a spokesperson for Bitpanda said that Trustology and the company are “confident that no issues with the acquisition will arise.”

“We have a very good working relationship with the FCA who was informed of that transaction well in advance and the FCA statement was in accordance with Bitpanda’s expectations,” they said.

Currently, there is prolonged wrangling between crypto firms operating in the UK and regulators, as the deadline to be included on the FCA’s crypto assets register by the 31st March looms ever nearer.

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Tagged : Bitcoin / Bitpanda / Blockchain / Legal / TRUSTOLOGY