EU parliament publishes virtual currency report which recognizes benefits of cryptocurrency
The EU Parliament has published a new report titled “Virtual currencies and central banks monetary policy: challenges ahead.”
Tus 33 page report stated:
“Virtual currencies are a contemporary form of private money. Thanks to their technological properties, their global transaction networks are relatively safe, transparent, and fast. This gives them good prospects for further development. Unlike their 18th and 19th century paper predecessors, VCs are used globally, disregarding national borders.”
Crypto hedge funds see more investment in 2018 than all of 2017
Investment from venture capital (VC) firms and hedge funds has grown significantly.
Data from Crypto Fund Research shows as of June 15th, there were 216 investments in 2018, versus 236 for all of last year. The amount invested so far this year, $638M, has already surpassed the 2017 total of $497M.
Crypto is the fastest growing segment of the hedge fund industry.
Coinbase Custody officially opens for business
Coinbase Custody is officially open for business and plans to welcome clients that include leading crypto hedge funds, exchanges and ICO teams.
Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world, and offers an institutional grade broker-dealer and its reporting services, and a comprehensive client coverage program.
Philippines to issue 25 cryptocurrency exchange licenses and require $1M investment for approval
The administrator of a government-controlled economic zone in the Philippines has revealed plans to issue 25 licenses to cryptocurrency exchanges.
The Cagayan Economic Zone Authority (CEZA), a government-operated economic zone in the northern tip of the Philippines, will open its doors to as many as 25 cryptocurrency exchange operators in its tax-friendly jurisdiction, an announcement on its website revealed.
The move to license – effectively legalize – crypto exchanges will follow a strict integrity check, coinciding with wider regulations for the cryptocurrency sector. Each cryptocurrency exchange will be required to invest at least $1 million within two years of operations in the zone as well a physical presence via an office in the zone, CEZA chief Raul Lambino added.
Huobi expands operations with London office and OTC trading
Huobi Group, a leading blockchain asset financial service provider, launches Huobi OTC and Huobi Quant Trading, and is opening an office in London.
Huobi OTC compliments its Quant Trading Service, Huobi’s quant trading will allow the investors to take advantage of the functions of arbitrage, market making, and trend predictions.
BTCC relaunches crypto exchange
BTCC, one of the longest running and once top three trading platforms in China, has announced that it’s relaunching its exchange business.
The company said its revamped crypto exchange is now up and running with new trading pairs including Bitcoin, Litecoin, thiab lwm tus. All of which can be traded for US dollars, also there are crypto to crypto trading options.
Kraken Daily Market Report for 01.07.2018
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