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    Tag: BitLicense

    Binance 9 11 2019 LearnCrypto Powered By Wyckoff SMI 2023

    Binance US Plans to Begin Onboarding Customers Next Week

    The largest crypto exchange by volume is making its U.S. debut next week. Binance.US said today that the platform will open registration and deposits on September…

    Karrie Butterfield September 11, 2019
    0 Comments
    crypto 4 22 2019 LearnCrypto Powered By Wyckoff SMI 2023

    Bittrex: ‘North Korean’ Accounts Flagged by NYDFS Were South Korean

    Crypto exchange Bittrex said Monday that New York regulators erred in identifying two of its users as North Korean. In a statement issued Monday, Bittrex said it…

    Karrie Butterfield April 22, 2019
    0 Comments
    crypto 11 19 2018 LearnCrypto Powered By Wyckoff SMI 2023

    The Week: Crypto ETP ‘HODL5’, Bitcoin Cash ‘HashWar’, SEC Charges ICOs

    A bloody week indeed for cryptoassets, where the total market cap has lost more than 19% as of today. Starting on Wednesday, Bitcoin’s 16% intraday…

    Karrie Butterfield November 19, 2018
    0 Comments
    Crypto 11 2 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Major Milestone: New York Licenses Bitcoin ATMs, Now Fully Regulated

    New York’s chief financial regulator has approved a Bitcoin-based ATM company to receive a controversial Bitlicense, granting them the ability to offer their services in…

    Karrie Butterfield November 2, 2018
    0 Comments
    cryptos 8 18 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Everything You Need to Know About Cryptocurrency Regulation (Right Now)

    The meteoric rise of cryptocurrencies has taken the world by storm. Innovators, investors, users, and governments are scrambling to wrap their heads around cryptocurrencies and…

    Karrie Butterfield August 18, 2018
    0 Comments
    Square 8 14 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Square Cash Now Supports Bitcoin Trading in the Entire United States

    Square Cash, a money transfer app that enables Bitcoin purchases, is now available to residents in all 50 states, as detailed in a recent Tweet by the company.…

    Karrie Butterfield August 14, 2018
    0 Comments
    Bitcoin square 8 2 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Square’s Bitcoin Integration Turns $37 Mln Revenue in Q2 2018

    Twitter CEO Jack Dorsey’s payments service Square generated over $70 mln in Bitcoin revenues in the first half of 2018, the company revealed in a quarterly report to the U.S.…

    Karrie Butterfield August 2, 2018
    0 Comments
    Bitcoin 6 18 2018 2 LearnCrypto Powered By Wyckoff SMI 2023

    Square Receives NY BitLicense, Cash App Now Offers BTC Trading for New York Users

    Financial services provider Square has received a BitLicense from the New York Department of Financial Services (NYDFS), according to a press release published today, June 18. As a result, Bitcoin (BTC)…

    Karrie Butterfield June 18, 2018
    0 Comments
    coinbase 6 5 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Getting Into Japanese Market Won’t Be Easy For Coinbase

    On June 4, Coinbase — one of the largest wallets and cryptocurrency exchanges in the US —  revealed its plans to enter the Japanese crypto…

    Karrie Butterfield June 5, 2018
    0 Comments
    Africa and Bitcoin 5 29 2018 LearnCrypto Powered By Wyckoff SMI 2023

    $14.5 Bln South African Investment Firm to Launch Crypto Exchange

    Sygnia Asset Management, a major South African investment firm with 180 bln rand ($14.5 bln) under management, has revealed that it will launch a cryptocurrency…

    Karrie Butterfield May 29, 2018
    0 Comments
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    $14.5 Bln South African Investment Firm to Launch Crypto Exchange

    Forum Description

    Sygnia Asset Management, a major South African investment firm with 180 bln rand ($14.5 bln) under management, has revealed that it will launch a cryptocurrency exchange later this year, BusinessTech reported May 25.

    Sygnia CEO Magda Wierzycka said the company would launch its cryptocurrency exchange, dubbed ‘SygniaCoin,’ in the third quarter of 2018:

    “The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows. With its fintech focus, Sygnia is well-positioned to become the first major financial services institution to embrace cryptocurrencies and to offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody and integration with standard savings products.”

    Wierzycka placed an emphasis on security and regulatory compliance, which she considers “will evolve” in the South African context. She noted that the South African Revenue Service (SARS) has already stipulated that crypto trading is liable to tax, and that she expects further domestic crypto regulatory frameworks to follow.

    Meanwhile, SygniaCoin will base its policies on the existing regulatory framework currently adopted by crypto exchanges registered in New York State, namely the stringent NY BitLicense, which was introduced in August of 2015.

    In addition to trading, Sygnia will create a dedicated fund that will invest in a range of cryptocurrencies on behalf of its retail and institutional clients. Sygnia investors will also be able to hold cryptocurrencies in their Sygnia accounts alongside their other assets.

    Just this week, South Africa’s central bank (SARB) declared that cryptocurrencies are “cyber-tokens” because they “don’t meet the requirements of money.” The announcement followed upon SARB’s establishment of a fintech task force earlier this year that will be dedicated to addressing crypto regulatory issues.

    In April, the central bank further established a self-regulatory organization to oversee developments in the crypto and fintech industries aimed at preventing ‘systemic risk,’ although the bank stressed it was cautious not to “throttle growth” in the burgeoning crypto sphere.

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