South Korea’s FSS Calls For Blockchain-Powered System For Stock Trading
South Korea's Financial Supervisory Services (FSS) has called on other government agencies and companies to develop a common blockchain system for stock trading in an official report it shared on its website last Thursday, August 2, 2018.
FSS cited similar initiatives from the U.S., Japan, UK and Australia and have concluded that a tamper-proof blockchain-based system will increase security, efficiency and integrity of tracking and storing transactions.
They have also revealed that the current centralized systems are less efficient and vulnerable to hacks.
31% Willing To Accept Crypto As A Form Of Salary
A study by Sage, an accounting and payments solutions provider indicates that at least 31% of workers are willing to receive their salary in cryptocurrencies.
In the survey of 1000 people reveals that a significant number are willing to get paid with crypto.
It was also revealed that men are three times for likely to accept cryptocurrencies than women.
Moreover millennials are the group that are most likely interested in getting paid with crypto.
It was also revealed that most of those who wanted to get paid in crypto only wants a percentage of their salary be given in crypto in which only 15% wanted to get paid in crypto in full while 37% wants to get paid about 1%-20% of their salary in cryptocurrencies.
Robinhood Now Serves Georgia Residents
A commission-free stock trading platform, Robinhood announced earlier that it would be able to offer service to residents of the state of Georgia.
The state’s residents now can invest in cryptocurrency using their App.
Crypto assets that can be traded in the app are Bitcoin, Bitcoin cash, Ethereum, Litecoin, and Dogecoin. Robinhood started as an easy-to-use trading application for stock market but has since then evolved to crypto trading and slowly rolling out its services state by state.
According to Robinhood, trading now is available in over 18 states.
The slow roll-out is said to be its way of gauging investor interest in this nascent industry.
With over 4 million users, Robinhood is poised to topple Coinbase as the largest crypto exchange platform for Americans.
Bitpay Enabling Equity Token Trading with Fiat With New Partnership
The cryptocurrency exchange from Poland, Bitpay, which recently transferred its operations to Malta have partnered with a Berlin-based blockchain-powered equity fund raising platform Neufund.
This initiative will enable investors to buy and sell equity tokens with fiat currencies.
Neufund aims to be the first end-to-end primary issuance platform of security tokens, specializing in equity tokens.
The firm believes that with this new financial instrument traditional investment assets will be able to get necessary liquidity.
BitBay will be the first Neufund partner that will allow companies to liquidate their equity tokens against fiat currency with pairs that includes EURO, USD and Polish zloty.
ICO Guidelines From the Philippines Will Treat Tokens As Securities By Default
In an effort to protect investors the Philippines Securities and Exchange Commission have labeled tokens as securities by default in a draft outlining new proposed regulations for companies conducting initial coin offerings (ICOs).
ICO would-be issuers are required to submit an initial assessment request to the SEC 45 days before the commencement of the coin sale.
In this assessment request the potential issuers must explain the project in detail and provide evidence that the company is in compliance with stipulations laid out in the draft.
This includes advertising guidelines, the qualification of issuers and advisors, and the details about their whitepaper.
Interestingly there is no information regarding what would qualify a token or coin to be exempted from designation as a security token but it will be putting the burden of proving that the tokens issued through an ICO to the token issuers.
As it stands, all ICO token or coin offerings are securities unless proven otherwise.
Headlines for the world of Cryptocurrencies - August 03, 2018Australia Investing In Crypto To Promote Tourism / Cardano Blockchain Smart Contract “IELE” Testnet Released / Coinbase Adds GBP On Its Platform / An Institutional-Grade Crypto Derivatives Platform Receives $9 Million Investment From SBI / A Lacklustre Debut On Canadian Market By Galaxy Digital |
|---|
Headlines for the world of Cryptocurrencies - August 02, 2018Annual Ripple Conference Will Feature Former U.S. President Bill Clinton As Keynote / Northern Trust Aids Hedge Funds Dives Into Cryptocurrency Investment / BNY Mellon Vet to Head Coinbase Global Compliance Efforts / 88% of Cryptocurrency Exchanges Want Regulations / Binance Acquires Trust Wallet |
Headlines for the world of Cryptocurrencies - August 01, 2018Ethereum Founder Wants To Prioritize Mass Adoption Rather Than Price Movement / Bitcoin Recovery Positive Sign After Winklevoss ETF Reapplication Rejection: Tom Lee / Gibraltar United Will Pay Its Players With Crypto / IBM Blockchain Platform For Banks And Financial Institutions / Crypto ETF Soon Says CEO Of Fatfish |
