Singapore crypto exchange KuCoin expands with $3M investment in Bitcoin Australia
Singapore-based cryptocurrency exchange KuCoin has marked its foray into Australia with a $3 million investment in a regulated domestic Bitcoin exchange, enabling the Asian exchange operator enter the Aussie market with a marked focus on high-end, advanced investors.
Bitcoin Australia’s chief executive Rupert Hackett claims the company’s own aggressive expansion will target 30 countries before the end of 2020. “I want to confirm that this is true,” KuCoin chief executive Michael Gan said of the company’s investment. “This is not only a great strategic decision but will be an excellent long-lasting partnership for us to help cryptocurrency grow globally.”
Citigroup is latest bank to offer crypto custody solution
Citigroup has created what it’s calling a Digital Asset Receipt or DAR, thought to be the most direct way to invest in cryptocurrencies without owning them, according to people with knowledge of the project. The DAR works much like an American Depository Receipt, which gives US investors the ability to invest in foreign stocks that aren’t traded on US exchanges.
The structure would place cryptocurrencies within existing regulatory regimes and give big Wall Street investors a less risky way of investing in the asset class.
SEC suspends Bitcoin exchange-traded security
A highly touted investment instrument that sought to appeal to US public markets investors looking for cryptocurrency exposure has just seen a setback. The US Securities and Exchange Commission has issued an order seeking to suspend the trading of the Bitcoin Tracker One and Ether Tracker One exchange-traded notes, issued by XBT Provider AB, a Swedish-based subsidiary of the U.K. firm CoinShares Holdings.
In the official order, the SEC cited a “confusion amongst market participants” based in the US as to the nature of the financial instruments as the reason for the move. The suspension is in effect as of today, and will last through September 20th.
Kraken Daily Market Report for 09.09.2018
KRAKEN DIGITAL ASSET EXCHANGE
$105M traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP
Blockchain News 10.09.2018