Blockchain News 16.05.2018

New blockchain ETF launches on NYSE

A new blockchain exchange-traded fund launched Wednesday on the New York Stock Exchange.

The ETF (BKC) holds shares of 32 companies working in cryptocurrencies or their underlying blockchain technology. The ETF is run by Rex Shares and actively managed by Brian Kelly, a CNBC contributor and head of BKCM, which runs a digital assets strategy for clients.

The fund also holds shares of Square and chipmaker Advanced Micro Devices.


French Finance Minister says he’s passionate about cryptos

The French Finance Minister, Bruno Le Maire, has become the most senior European official to outspokenly support crypto as he declared the space has his “total and determined support.”

Le Maire recently said, according to a rough translation:

“I was new a year ago, but now I’m passionate. It took me a year. Let us educate our fellow citizens to make France the first place for blockchain and crypto-assets innovation in Europe.”


Coinigy launches subscription based crypto trading app

Coinigy, a cloud-based cryptocurrency trading platform, has announced the launch of Coinigy Mobile, a subscription-based mobile cryptocurrency trading application for iOS and Android, providing customers with a platform to trade through nearly 20 exchanges with data connectivity across more than 40 exchanges.

Unlike nearly all cryptocurrency trading platforms, the Coinigy Mobile trading app works on a subscription model where users are given access to the platform and its functionalities for $21.95 per month.


Bitcoin mining equipment manufacturer Canaan files for $1B IPO

Canaan Inc., the world’s second largest maker of bitcoin mining hardware, submitted a listing application to the Hong Kong stock exchange, this would be the world’s biggest crypto related IPO.

Canaan aims to start trading as soon as July, a person with knowledge of the matter said, asking not to be identified because the information is private. The company, based in Hangzhou, sold 300,000 bitcoin mining rigs last year and had revenue of 1.3 billion yuan ($205M). Over the past year, net income surged more than sixfold, according to Tuesday’s filing.

A listing of Canaan would be the first Hong Kong IPO from the cryptocurrency industry.


Social investing platform eToro to launch crypto exchange in US

eToro, a social investing platform, is launching a cryptocurrency exchange and mobile wallet, and expanding into the United States.

“Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise,” CEO Yoni Assia said in a press release.

Top cryptocurrency traders will be able to earn income by making their portfolios transparent on eToro and allowing other traders to copy their trades.

The platform has 10 million users from 140 countries, from China and Russia to Switzerland and the United Kingdom.

Although no timeline was given for when cryptocurrency options will be available in the U.S., eToro plans to offer cryptocurrency trading in every jurisdiction in the country.


Azerbaijan taxes revenue received in cryptocurrency

Azerbaijan is taxing revenue received in cryptocurrency, according to Nijat Imanov, deputy director general of the tax policy and strategic research department for the Taxes Ministry, according to the country’s Trend News Agency.

If someone buys cryptocurrency and sells it at a higher price, the profit is recorded as income and subject to taxation, Imanov said, calling it a profit tax for legal entities and an income tax for individuals.


Blockchain News 16.05.2018

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