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Tag Archives: Crypto Trading

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Fidelity Investments is Bringing Cryptos Closer to Institutional Investors, Here’s How

  By David Drake   2018 has been a tough year for cryptocurrencies. After experiencing a boom that saw bitcoin reach a high of $19000 in December 2017, the cryptocurrency market capitalization has been reduced by billions of dollars this year. But the announcement made by Fidelity Investments last month could give the cryptocurrency market the boost it needs to get on the path to recovery. Founded in 1946, Fidelity administers assets worth $7.2 trillion, making it the fourth largest asset manager on the globe. The Wall Street financial firm is set to launch a separate company to focus on bringing virtual currencies to its customers. This move will provide institutional investors with a digital currency platform, advise and custody services. Bridging the Gap Fidelity Investment already has a client base of nearly 13000 institutional investors, including brokers and advisory firms. Through the Fidelity Digital Asset Services platform, the firm ... Read More »

Will Fidelity’s Digital Asset Services Platform Impact the Cryptocurrency Industry?

  By David Drake   The potential of blockchain and the rising interest in fintech is beginning to capture the attention of Wall Street companies.  Just recently, Fidelity Investments, a world leader and provider of a range of financial services launched a subsidiary company dubbed Fidelity Digital Asset Services to specifically handle cryptocurrency clients. Fidelity Investment is highly experienced in financial service provision to institutional investors and boasts of client assets worth $7.2 trillion under its management. As such, this financial company identified a gap in service cryptocurrency service provision to its niche clients and decided to address the gap. Positive Reception Fidelity Investment’s move to create a cryptocurrency specific platform has been received positively by industry players. According to ONe Network‘s CEO and founder, John Hoelzer, this step brings some level of legitimacy to the industry and is likely to bring the discussion on cryptocurrency regulation to the forefront. ... Read More »

Fidelity Investments Launches a Subsidiary to Offer Institutional Investors Digital Asset Services

  By David Drake   Numerous discussions on the cryptocurrency market have been taking place around the world and digital currency growth has been one of the most talked about topics. Though there is little doubt on how much impact emerging technologies will have on the financial sector, questions still linger on what factors will spur the growth in the cryptocurrency sector. Since it experienced tremendous growth in 2017, the cryptocurrency market has been hit hard by the regulatory uncertainty. But the regulatory environment isn’t the only factor that needs to be addressed to facilitate growth in this nascent industry. Increasingly, the need to to increase investments in this industry is becoming more evident particularly because at least 50% of the cryptocurrency market capitalization has been wiped off since January 2018. Institutional Demand Already, there are signs that more institutional capital could flow into the industry after Fidelity Investments, a ... Read More »

Why Relaxed Regulations in South Korea are Good for the Cryptocurrency Industry

by David Drake   South Korea’s Financial Supervisory Service (FSS), the country’s top financial regulator, has  a new governor after President Moon Jae-in approved Yoon Suk-heun’s nomination. Responding to reporters, Yoon Suk-heun said the FSS will consider relaxing cryptocurrency regulations. The FSS banned initial coin offerings (ICOs) and anonymous trading of cryptocurrencies in September 2017 and January 2018, respectively. South Korea’s Effect South Korea’s effect on the global cryptocurrency market cannot be understated. According to Luis Manuel López, the General Coordinator of Workchain Centers, any regulatory decision South Korea makes has an impact on the global market as it is the third largest cryptocurrency market in the world. He says, “South Korea is the third largest cryptographic market in the world, which means that any regulatory decision in the country has a negative or positive impact on the world market. Rumors of new regulatory bans in January 2018 had a negative ... Read More »

Will Changes in South Korea’s Financial Regulator Boost Crypto Market Performance?

by David Drake South Korea has made news for having regulated the cryptocurrency industry in Asia. In September 2017, the Financial Supervisory Service (FSS) banned initial coin offerings (ICOs). In January 2018, the Financial Services Commission (FSC), the country’s financial regulator, enforced a ban on anonymous cryptocurrency trading. However, this is set to change in the coming following a change of guard at the FSS. The new FSS governor, Yoon Suk-heun, has hinted that the regulator will consider relaxing cryptocurrency regulations. Cryptocurrency players across the globe are looking forward to regulatory changes in the country. Latif Sim, Chief Information Officer at GCOX says, “Regulation can be seen as an explicit, formal contract between business and society. The intent of regulation is therefore to ensure that markets function in a fair, efficient and orderly manner. Hence, the question is therefore not whether a relaxed regulation will promote adoption but rather is the regulation ... Read More »

Traceable Cryptos Not Wanted in Japan’s Exchanges, Here’s Why

  by David Drake   The financial regulator in Japan is working quietly to reduce cybercrime associated with cryptocurrencies. The Financial Services Agency (FSA) is hoping to persuade cryptocurrency exchanges to quit handling digital currencies largely preferred by criminals who are out to launder money and engage in other criminal activities, including terrorism. Sources that are close to the regulator confirmed the agency is taking action to discourage trading of altcoins such as Zcash, Monero and Dash. These cryptocurrencies are not easy to track which is why they’re largely preferred by the underworld. Even so, Luis Manuel López, General Coordinator at Workchain Centers, feels this isn’t the real problem. He says: “The use of these cryptocurrencies to fund illegal activities is a challenge that Silk Road and Bitcoin had to face six years ago. However, the measures taken to address it should not be limited to tools of payment that criminals ... Read More »

How Crypto-Related Cybercrime Should Be Fought

by David Drake   One of the main features of cryptocurrencies is anonymity. However, this has its dark side, and this is currently one of the major concerns in the cryptocurrency industry due to its linkage with cybercrime. In anonymous cryptocurrency trading, traders do not have to verify their identity or provide personal details. They can open virtual bank accounts and make transactions using digital currencies. This anonymity has made the industry an easy target for scammers, hackers, terrorists, criminals and gangsters. To address this problem, Japan’s Financial Services Agency (FSA) has decided to pressurize cryptocurrency exchanges to delist anonymous cryptos. For many people in the cryptocurrency space, this is neither the best nor a lasting solution to crypto-related cybercrime. In the recent past, we have witnessed big corporates, including banks, get hacked, losing billions of dollars or personal details of millions of customers in the process. Most of these hacking ... Read More »

Will Japan’s Efforts to Halt Trading of Dash, Zcash and Monero Succeed?

  by David Drake   The financial regulator in Japan, Financial Services Agency (FSA), has been quietly advising cryptocurrency exchanges in the country to quit trading Zcash, Dash and Monero. The three cryptocurrencies are seen to be favoured by money launderers as well as others who engage in criminal activities. The decision to discourage cryptocurrency exchanges from trading in these altcoins is largely informed by a report released by Europol last year. In the report, Europol indicated that these altcons are among the prefered digital coins of underworld participants because they are not easy to trace compared to currencies such as bitcoin. Real threats In the past, Monero has been targeted in cryptojacking attempts with hackers causing malware infections on computers in order to hijack their CPUs and then use them for mining the digital currency. But will ceasing their trading address the problem of cyber crime that has become ... Read More »

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