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Showing posts with label crypto. Show all posts
Showing posts with label crypto. Show all posts
Institutional Trading is now a days becoming one of the most sought after notions while on the other hand, there is a rise in crypto exchanges. In spite of this sudden surge in cryptocurrency exchanges, U. S. Securities and Exchange Commission is not leaving a stone to ensure that all of these digital currency exchanges follow rules.


If you have a look at Poloniex, which is a Digital Asset Exchange having a variety of Digital Assets, you can witness the way it is accelerating itself to the top to ensure that there are a number of cryptocurrencies available for trading. And recently, to add to the digital assets list, there is introduction of ‘institutional accounts’!

Why Should One Opt for Poloniex?

It is a very simple question as to why should one settle on Poloniex when there are other exchanges as well? And the answer to this question is also very simple, the team behind Poloniex understands that trading also requires advanced tools from time to time and therefore keeping such a thought in mind, they have come up with an approach that will have far reaching effects in the longer run.
These said effects will without any doubt be positive ones that have the ability to facilitate trading depending on the situation. In other words, all the latest trading tools required by institutions will be in place.


Who Gains from Crypto Asset Trading?

In actual fact, it is both small and large institutions who would be reaping benefits from Poloneix based on grounds such as: powerfully built API Services, endless selection of Crypto Asset Trading Pair besides Support of the Team.

Another bonus attached while using Poloniex is that customers shall be in a position to not give any ‘fees’ for BTC or USDC Trades. Nonetheless, these terms are going to be applicable only for the month of December!

Customer’s experience matters a lot for Poloniex and this is the reason why they strive hard to ensure things work for the best for Poloniex Users. It was even last month that USD Coin or the USDC Trades had $500K fees waived off!

Things to Know

This does not end here because there is still a surprise in store for the users, one of them being, like the one stated earlier: BTC and USDC Trades would not have any fees while the other benefit attached states: users can purchase BTC without paying any extra fees. Option for not paying any fees is only till 2019! So, it is better that you utilise it at the earliest. An individual can make use of ‘free service’ in order to convert USD to USDC through Circle!

Poloniex is going to be up against GDAX from Coinbase and when more than one firm is involved in institutional trading, then it is to see who wins this game! While Users of any cryptocurrency exchange or institutional trading shall look forward only to the benefits that they can reap from trading giants available out there in the crypto world.
Bitcoin Futures does not look like taking a downhill drive because NASDAQ, the American Stock Exchange, second largest in the world, has some plans for it. If reports are anything to go by then the American Stock Exchange is in no way going to leave Bitcoin Futures as it is still in full force to keep launch of Bitcoin Futures as per the plan.


Bitcoin goes down but not plan to launch Bitcoin Futures

Though Bitcoin in recent times has seen downfall on almost continuous basis still it did not leave an impression on NASDAQ. Reasons for this being, team at NASDAQ plans to launch Bitcoin Futures somewhere in early 2019.

Work is in full swing for the launch to be a timely one as team responsible for this at NASDAQ is working on nitty gritties of the launch and it has already come to terms as to what are the missing aspects. With this information in hand, team at the second largest stock exchange is constantly upgrading its launch in order to meet standards laid down by none other than the Commodity Futures Trading Commission aka CFTC.  For the beginners, CFTC is the main swaps regulator back in the United States.


Agreed that there many plans were there for Bitcoin Futures to be launched somewhere in the mid of 2018 however, all aspects could not be placed during this time and thus the delay was about to be caused. However, with passage of time, NASDAQ has worked out its plan and it is in full swing to release one of the best versions of Bitcoin Futures in present day.

It is now to see what would be its affects or how Bitcoin Futures is going to be affected by the volatile pricing of Bitcoins witnessed now a days in crypto world. Bitcoin pricing has indeed shaken the world to the core bringing about a series of changes in the way people in general and investors in particular looked at Bitcoins.

NASDAQ not affected with Bitcoin Pricing

There were also some reports in the market that stated that the American Stock Exchange is not perturbed with the way Bitcoin’s world changed almost overnight! (or should we say almost a few months?!)

Cryptocurrency Trading may go in for a Change

Yes, you have read it correctly, with NASDAQ’s decision becoming a reality, it is sure to make some changes, major ones to the world of Cryptocurrency. Although majority of these modifications would be seen in the Cryptocurrency Trading World!

Due to this and similar other reasons, Bitcoin Futures is being planned to be launched in early of 2019 and most probably in Q1 of 2019! Another of the key points here is that there are a lot more chances of having NASDAQ’s own Bitcoin Futures Contracts in Q1 so that nothing goes wrong at the last moment with inclusions of having the latest techniques in place so as to be enable to cater to the upcoming market.
Crypto exchanges in Taiwan are going to have some more new strict rules targeted to prevent illegal transactions under the garb of digital currency. This news comes forth post new policies being added to ‘AML or the anti-money laundering policies’ that Taiwan has
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It was not until this year that the Government of Taiwan okayed for digital currencies because it was still perplexed with the way regulation of Cryptocurrency market happened in Taiwan along with the Blockchain sector. However, things have changed quite a bit with the latest Money Laundering Control Act and Terrorism Financing Prevention Act coming in to action.

Legislative Yuan approved this recently drafted act and it also has been given the authority to ban transactions in case they are fraud. All of this is possible due to the fact that Legislative Yuan comes under one of the financial branches of the Government of Taiwan known as FSC aka Financial Supervisory Committee.

Regulations of Cryptocurrencies in place

With passing time, it looks like the Taiwanese Government is moving towards an arena wherein they can regulate and have proper control with the way local Cryptocurrency market works. The new system is also inclusive of the Blockchain space because their sole motto is only to prevent frauds related to or having involvement of cryptocurrencies.

Ministry of Justice, Taiwan releases statement

Even the Ministry of Justice, Taiwan has released a statement specifying these recent amendments to the anti-money laundering bill so it does not come as a surprise that the Taiwanese Government is working its way to make a good foothold with the way cryptocurrencies worked.


Related departments from the Government of Taiwan are putting their efforts to work for the better while meeting the standards laid down by International Anti-Money Laundering.

Centre for Blockchain based Businesses

Taiwan has slowly been building itself in to a center for Blockchain based businesses, so, when these things are in line then it is necessary that Taiwan and its government makes itself up to date with all aspects of cryptocurrencies. On the other hand, there were also reports for Taiwan to become one of the centers for Initial Coin Offerings also known as the ICOs!

New Crypto Laws in Taiwan

To ensure that everything is in place, Taiwan, like you read above, has modified the existing AML or the anti-money laundering law apart from CFT or the counter-terrorism financing law. Due to the recent alterations made, it would now become all the more necessary for crypto exchanges to give more information to the Government of Taiwan.

Another aspect to be carefully looked at is the way: compliance rules are to be changed by the crypto exchanges. With the Financial Supervisory Commission coming in to action (as they are responsible for creating laws in Taiwan), it is to see how would these laws impact overall Cryptocurrency Exchanges in Taiwan.

While at present, the only aim for Taiwan is to make itself more aligned with the way cryptocurrencies work besides changing crypto exchange markets for the better.
Binance in its latest announcements has renamed Tether Market (the USDT) to be USDⓈ or a Stablecoin Market. According to this report, the Cryptocurrency Exchange giant aims to back trading pairs in the category of ‘stablecoins’.


Earlier Binance had also reported that there shall be a listing of Blockchain company which goes by the stablecoin USD Coin or the USDC (from Circle) besides supporting PAX and TrueUSD or TUSD from Paxos.

What is USDⓈ? How is it Different from the Earlier Version of Tether?

One of the most important aspects that one has to keep a note of is the fact that USDⓈ is not going to be another of a stablecoins, hence, there is no headache there; instead, it is a new symbol for stablecoin market from the house of one of the major crypto exchanges: Binance.


We would get to know more about what shall be added to this Stablecoin Market in the upcoming days. So, we will have to wait for some more time to have an idea as to what shall be the pairings in the all new stablecoin market being declared by Binance.

As some of you may be aware of this information: Tether (USDT) is now rechristened as the Combined Stabelcoin Market aka USDⓈ, a move that was taken after a carefully thought out process.

Launch of USDC Tokens

Coinbase, a U. S. Cryptocurrency Exchange, along with Circle had come together for launching USDC Token in the month of October.

In Asiff Hirji, President and COO of Coinbase words, “Stablecoins are in 1:1 ratio (backed) with the U. S. Dollar. They have been audited completely beside being transparent.”


Many out there think that changing the name of Tether came as a little unexpected news because it was a different kind of thought process that major Cryptocurrency Exchange has picked up on. While the only aim for sudden change in events lead us to a platform which supports trading pairs with that of various stable coins.

With Binance taking a new step towards the Stablecoin Market, there shall without any doubt be developments in this market. Some of the experts from this field also believe that with such a move, Binance is making a formal announcement: Binance will be a go to option for trading cryptocurrencies!

Official Announcements for Addition of Stable Coins on Binance Platform

Yes, you read it correctly, with numerous trading options in place, Binance is going to turn itself in to a platform where services range from not one but to a varied group.

Now it is to see what will this move result in because, in the past six months, Binance has gone on to an addition spree of adding stable coins while accumulating one by one the following: Tether (USDT), TrueUSD (TUSD) became a part of the list on 16 May, Paxos Standard Token (PAX); added to the list on 21 September apart from USD Coin or USDC, the latest one in the list took its position on the 15 November 2018.
Bitcoin’s price went below $4,000 sending shock waves across the crypto world. Earlier, some reports stated that bitcoin would not fall below $4,000 however last weekend saw something else with cryptocurrency collapse worsening and still coming back a little.


No Stability in Digital Currency Prices

Some experts believe in the saying that nothing is constant and hence whatever is happening to digital currency cannot be said for sure, as in what shall be the exact price of cryptocurrencies and Bitcoins in particular.
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Bitcoin Pricing Analysis

Till the previous weekend, bitcoin prices were plunging down to as low as $3,456 and thus constantly being a reminder that bitcoin has fallen and there are bleak chances of it to gain back whatever it lost.
While on the other hand, Cryptocurrency due to its Blockchain Technology seems to be a viable option for many departments. One of them being, the Ohio State Government, first of its kind which has allowed for bitcoin payments for business tax payments!

This announcement was though welcomed by some sections of the society still many felt that with cryptocurrencies over-all value taking a dip what will happen to bitcoins? However, the State Treasurer from Ohio Government, United States put across one point: cryptocurrencies have been built on a platform wherein they end up being transparent and more secure thus eliminating any risks related to hacking or frauds!

With Bitcoins being allowed to be used as a payment method in the State of Ohio, 23 businesses are under its radar now. Next thing one shall be interested in is the fact that how and when would Bitcoins and other cryptocurrencies rise?

As for Ripple Price Analysis, it has remained steady above 35 cents and it is to see if it touches 60 cents!

Rise in Bitcoin Price (Analysis)

Till midnight of Sunday, Bitcoin had slid by 4.5%, a number none of the crypto enthusiasts expected but a few were aware that this might happen. However, by 7:50 am, things started to change as Bitcoin had regained most of its losses but still it is in the red!

In Stephen Innes words, Head of Trading for Asia Pacific at Oanda Corp, it is true that bitcoin has seen a lot of instability in the past few weeks and this was not the case last year. In case bitcoin goes further down then there might be a case for people looking for exits.

Still Unsure of Bitcoin Prices

With two think tanks setting up their own camps: Bitcoin Cash and Bitcoin Cash SV, this has impacted the price of bitcoins to a great extent. Experts from some sections of the crypto think tanks feel that we have to wait while many others are still unsure of what would happen to cryptocurrencies, an advanced version of currencies in today’s world.


With a great technology in place called Blockchain, cryptocurrencies are indeed a secure form of mode of payment still will they stay for longer or will they break down mid-way is the question that does not get answers for.
Ohio seems to be one of the first states to have agreed for business tax payments to be carried out in Bitcoins, a Cryptocurrency which has seen quite some unrest in recent times.


Pay Business Tax in Cryptos

As a matter of fact, a strong reason compelled Josh Mandel, State Treasurer and his department to look in to cryptocurrency payment. One of the reasons here is: crypto payments are not only transparent but also secure. Finally, the cost of these is also at the lower end.

With these and many similar characteristics of Cryptocurrency Payments, it was time for the officials to okay tax payment in bitcoins. Moreover, with cryptocurrencies, none can transfer the amount to third parties, thereby eliminating fraud altogether.

Blockchain network enables for a tracking system in a second to second basis thus making it transparent to the core. One may wonder as to when was it that Bitcoins in particular and cryptocurrencies in general became a favourite of Mandel; and so, for the record, Mandel has been keeping a track of the way cryptocurrencies work and he showed keen interest in bitcoins right from the time he was appointed way back in 2011.

Views of Jerry Brito on Bitcoin as Mode of Payment

As per the Director of Coin Center, Jerry Brito, bitcoin technology is advanced in every manner and this is why people from both sides, government and the bad guys look forward to use it for their means. However, there are only two common aspects here: one is Bitcoin and second is Blockchain.
When we look at the news, we understand that there has been quite a downfall in terms of Bitcoin’s graph in the past few days, however, the end has not arrived yet.

By adopting Bitcoin, a cryptocurrency as a mode of payment, Government is ensuring that payments are more secure, more efficient and of course are transparent. Thus, taking technology to the next level.

There have been other states as well who tried bringing in cryptocurrency payment and making it official still luck has not been on their side as at the higher levels, the legislative levels, things were stalled.

Ohio: First State in the US to Accept Bitcoin Payments

Yes, with other states backing off, Ohio became the first state as well as the first government in the United States to make an official announcement regarding acceptance of tax payments in cryptocurrencies and in Bitcoins at present! Thus, beginning from the 26th of November, Ohio shall accept Bitcoins for tax payments.



Currently there are about 23 kinds of business taxes which can be paid in Bitcoins. To pay taxes one can utilize BitPay, the payment service and end up paying taxes.

Note:

Currently only businesses are permitted to pay (business) taxes through BitPay (in bitcoins) there are plans to make it available for individuals as well. But for this to happen, a lot more thought process is to be done.

Till then let us see how the world of cryptos would work about and what shall be the status of bitcoins in the future.
Uncertainty over the prices of cryptocurrencies in general and Bitcoins in particular seem to loom large thereby giving away the reasons for people to be confused as in whether cryptocurrencies are rising or tumbling further down!


Why only Bitcoins even other Alt Coins seem to have taken the hit of this uncertain decline of cryptocurrencies. There, however, does not seem to be any one reason that can be pointed out as to: yes, this is why cryptocurrencies bowed their heads.

Bitcoin Hard Fork Split

As observed by many, the moment Bitcoin Hard Fork split was announced, everything seemed to tumble down and it was something that shook the whole of crypto world. Reasons being Bitcoin was riding high and had never fallen below $6,000!


Tom Lee, Wall Street Investor analysed that ‘hash rate war’ turned the scenario to a lot of uncertainty and panic across different rungs of the society. In addition to this, to stay away from risks or unknown waters, many investors backed off stated CoinShares CEO Meltem Demirors.

Right from November of 15th, Bitcoin ABC as well as Bitcoin SV having emerged, they have two think tanks fighting a war, should I say a cold war?! With clashes between these two groups, it was evident for BCH to be diving down the market as it was seen later by us.

Rules Came into Action

Along with division of Bitcoin Cash, SEC decided to take charge of the situation and like earlier informed in one of the articles, stopped operations of many firms who did not obey rules. Brexit along with Central Banks Policies turned out to be other reasons for downfall of the highly anticipated cryptos.


Now many would be shell shocked and worried to know as to what shall be the condition of Bitcoins post the split of the decade?! Are they stable or have they begun to rise in the world of cryptocurrency?

As a matter of fact, sell off due to low trade volumes led to a panic which is a bit difficult to be summoned in words. In Greenspan’s words, nothing can be said for sure as to what would happen next. He believes things could turn around at any moment and nothing can be sure. Either Bitcoin stays there put while some people sell it away and a few others gather them.

Anthony Pompliano, host of Crypto Podcast as well as Newsletter has perfectly put across a point: ‘Bitcoin lives and dies on its own’ while only ‘a few synthetic protections are in store for the investors’.

While on the other hand, Tom Lee is certain of one fact though, it is: regulatory clarity is going to be the key to giving us a clear picture of where Bitcoins and other cryptocurrencies stand. And to quote Lingham, blockchain projects must specify as to what will be the other usable solutions apart from the one, we are aware of.

Cryptocurrencies have not held a stable position since some time, however, as of now experts have pointed out that only a few losses can be seen, so yes, drastically falling prices of cryptos have kind of stopped.

Lesson: Never to conclude before the final outcome is right before you.
ICO seems to have started moving towards various departments as well and the recent one to join this list is none other than the Portuguese Football: ‘Sporting Ponders’. Though still it is in the initial stages, there are talks about putting ICO or the Initial Coin Offering concept for good use for the Portuguese Football Club to raise funds.


So far, there has been only traditional methods of raising funds but with passing time, it turned out to be somewhat difficult to raise funds specifically through bond issue. The same bond issue is going to mature on the 26th of November and thus it was time to look carefully at different prospects before coming to a final decision.

Gross Annual Interest Rate

Generally, the bond issue that Sporting Clube de Portugal has, gives a 5.25% gross annual interest rate to the investors. Due to this interest rate, it raises about €30 million or $34.2 million.
Sporting Clube de Portugal requires funds because it is on the verge of repaying investors for the bond issue that is due to mature on 26 November. To meet the set target, the Football Club has already raised about €26 million or $29.6 million.

This amount was brought together after an increase in subscription orders that the team at Sporting Clube de Portugal had put up with. However, amount collected so far falls short of the actual amount hence it was decided to look in to other options that could help in raising funds.

Vice President of the Football Club, Francisco Salgado Zenha stated that the board is meeting often to discuss the possibility of bringing in Initial Coin Offering as an alternative option. There is nothing concrete in these discussions yet because all corners are to be checked properly before coming to a conclusion.

One conclusion that seems to have been made so far is that ICOs definitely have great potential in the sporting arena.

Other Clubs who are part of ICO

Portuguese Football is not the first of its kind to join the league of ICO in sports as there have been other clubs who entered this field a while ago as well. Some of the names inclusive of this list are ‘Brazilian Football Club Avai’ who launched not only its own ICO but had also raised about $20 million!


Similarly, Paris Saint Germain, French Soccer made it clear that it is also having its own cryptocurrency; apart from Newcastle United and the Cardiff City are in talks with SportyCo for assisting sporting brands to launch their decentralized sports investment plus funding platform. SportyCo was also responsible for Avai when Avai set to launch its tokens!

An Easy Walk for Sporting Clube de Portugal?!

It does not seem to be a cakewalk for the club to get initial coin offering start however, Securities Market Commission or the CMVM of the country has informed all organizations to clarify ‘judicial nature of tokens which are going to be issued’.

With ICO coming in to picture, it is to see if cash crunched sporting clubs get some relief.