Canada’s First and Only Bitcoin Mutual Fund

A Canadian cryptocurrency and blockchain investment company has announced that its bitcoin trust, First Block Capital (FBC) has recently gained mutual fund status.

According to First Block Capital Inc. CEO and co-founder Sean Clark, the trust will give investors exposure to Bitcoin without having to acquire, hold, or manage the actual Bitcoins.

Trust units are considered a qualified investment in a mutual fund trust under the Tax Act, and the fund as surpassed 150 unit holders in less than a year since its launch.

This has been approved by the Ontorio Securities Commission and the British Columbia Securities Commission.

It was revealed that this type of financial product was the first and only of its kind approved in Canada.

The Trust is available in NEO connect, a fund distribution platform, under the ticker FBCBT and is available to accredited investors only and can be traded with the same efficiency and ease as trading ETFs.

EU Commission Vice President: Crypto Assets Are Here To Stay

Valdis Dombrovskis, vice president of the European Commission said in a press conference that member states are supportive of moves on charting regulations governing crypto assets.

Dombrovskis even said that cryptocurrencies are here to stay, despite the recent turbulence and will continue to grow

He also adds that Initial Coin Offering (ICOs) have the potential of becoming a viable form of alternative financing which has brought in more than $6 billion in funding last year and is seen much bigger this year.

The challenge the commission is facing now is how to categorize and classify crypto assets and whether the EU should use existing financial market rules or create a set of dedicated regulations for cryptocurrencies.

To address these issues the EU has been working together with European Supervisory Authorities in an initiative they call regulatory mapping of crypto assets which will provide them a solid ground to build on and to decide on further steps in this area.

Cryptocurrency Traders In China Find Ways Around Hostile State Regulations

Industry observers reveal that despite the increasingly hostile regulatory environment in Mainland China, Chinese traders are able to circumvent controls over cryptocurrency, making it practically impossible to ever impose a complete shutdown on trading.

Trading continues to prosper despite the states incessant attempt to stomp them out since September of 2017.

Many exchanges have moved their servers outside of China and registering their legal entities offshore.

However in its latest attempt to impede Chinese investors from participating in crypto trading, financial and market regulators in China are stepping up their monitoring by blocking access to 124 offshore crypto-exchanges that provide trading services to Chinese investors.

Pundits claim that over the short term this may damp trading interest among novice cryptocurrency operators temporarily but remains doubtful in the longer term if access to foreign exchange platforms could ever be fully eradicated.

Gemini Launches Own Stablecoin Backed By U.S Dollars

Gemini Dollars (GUSD) is a cryptocurrency launched by Gemini Trust Company that has been approved by the New York Department of Financial Services (NYDFS).

This new cryptocurrency uses the Ethereum blockchain and every token will be backed by a U.S. dollar which will give it stability, while having the speed and borderless nature of cryptocurrency.

Gemini Dollar was designed to be a medium of exchange with a value similar to that of the U.S. Dollars.

What sets this new cryptocurrency to other Stablecoin projects is that it was build upon a network of trust.

Investing giant State Street will be holding onto the U.S. dollars in an FDIC-insured account, and multiple third-party audits will be conducted both before and after the launch.

Blockchain.io, A Fully Compliant European Exchange Starts Token Sale

A new European exchange will commence its token sales on September 27, 2018.

This new exchange is based in France and prides itself as a fully compliant, transparent and regulations ready platform.

They are actively collaborating with French and European authorities on upcoming regulations that might affect the regulatory environment of its sector.

Aside from being a fully regulated exchange, Blockchain.io plans to provide decentralized settlements and atomic swaps which are optimized for real-time trading purposes, enabling users to access centralized order books for optimal liquidity while settling trades peer-to-peer for additional security.

Moreover the exchange will be integrated with an existing cryptocurrency exchange Paymium, which has over 150,000 customers that will serve as a crypto-to-fiat gateway for its customers.

The soon-to-be release exchange can be describe as a new breed of cryptocurrency exchange that leverages both the strengths of centralized and decentralized exchanges.

Its token, BCIO will be used for greater liquidity and incentivize users through fee usage, discounted trading, survey participation rights and loyalty rewards.

More information about their token sale can be found in their site.

Headlines for the world of Cryptocurrencies - September 12, 2018 Citigroup To Launch Low-Risk Crypto Product / Prime Minister Of Australia Sees Massie Opportunities In Blockchain / Blockchain Records Accepted As Legal Evidence In China / High-end Car Retailers Now Accepting Cryptos / Kucoin Expanding To Australia
Headlines for the world of Cryptocurrencies - September 11, 2018 South Korea Seeks Greater Global Cooperation On Crypto Regulations / The Central Bank of South Africa / Wins Award For Blockchain-Powered Wholesale Payment System / Crypto - A Revolution Of Hope: Wendy McElroy / Crypto, A Prominent Trading Market In Australia / Suspension Of Goldman Sachs Crypto Trading Desk Initiative “Fake News” According To CFO
Headlines for the world of Cryptocurrencies - September 10, 2018 New SEC Appointment May Boost Bitcoin ETF Possibility / Most Investors Wants to Buy More Digital / Currencies In 2018 According To Survey / Former COO Of Paypal Joins 0x As Advisor / IPO Expert Hired By Binance, IPO Rumors Abound / Crypto and Blockchain Companies Shine In Linkedin's Top 50