Before we continue with our Funtech articles, we'd firstly like to present you with our traditional weekly update on what's going on in the industry (while nothing's going on in the market).
CBOE resubmitted the two ETFs of SolidX and VanEck to the SEC
On January, 31st, CBOE re-applied the SolidX and VanEck’s ETF after the withdrawal on January, 22nd. To the crypto investors, this is bullish news as the majority believes that ETF will be the propeller pushing Bitcoin to a new high along with Bakkt. However, it should be taken into consideration that SEC can delay the decision up to 90 days if the application is not appropriate.
Germany’s 2nd largest stock exchange released crypto trading app
As we recently highlighted on our Twitter, on January, 31st BISON app, the official crypto trading app of Boerse Stuttgart Group has been officially launched. At the moment, BTC, ETH, LTC, and XRP are enabled as no-fee trading pairs. Initially, the trading time will be opened to be from 6:00 AM to 12:00 AM CET. Plus, the exchange is expected to be open 24/7 in the future.
NASDAQ is working with 7 crypto exchanges
According to Forbes, a Nasdaq representative told them that NASDAQ is [working]https://www.forbes.com/sites/michaeldelcastillo/2019/01/30/nasdaq-is-now-working-with-7-cryptocurrency-exchanges/#3e4bf9d72472 ) with 7 crypto exchanges to be granted the access using the same surveillance technology of NASDAQ. On a side note, only 2 names were mentioned which are Gemini and SBI Virtual Currency. Exchanges who want to use NASDAQ surveillance technology will have to pass a strict process to verify the status.
Iran’s central bank released a draft on crypto regulation
On 29th, January, Aljazeera reported that the Central Bank of Iran released an early outline
“Version 0.0” for the future crypto regulation. The announcement was during the Electronic Banking and Payment System Conference. The draft recognized and authorized cryptocurrencies including central bank crypto, sovereign crypto, etc Additionally, the draft also permits ICO, crypto wallet, crypto exchange, and mining process. However, the draft still forbids the use of crypto as a method of payment. On a side note, CoinDesk released an article on the same day stating that the Central Bank of Iran may prohibit “unapproved” crypto for payment.
Fidelity’s Bitcoin Custody Service is about to launch
On January, 29th Bloomberg released a statement saying that Fidelity will launch their custody service in March. However, there aren’t any source backing up their claim. Two days later, Fidelity released an update for their work asserting that they are serving a set of eligible clients and have established a set of technical and operational at institutional standards. Additionally, they also said that in the upcoming months, they will thoughtfully engage more customers based on their demand and other factors. Nevertheless, there is no statement related to the official launch date of their custody service.
Enjoy your fee-free trading at VHCEx.
Thank you, your VHCEx team.