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Spanish Financial Watchdog Warns Against Unregulated ICO Scheme

A Spanish financial watchdog has issued a warning against Ethereum (ETH)-based token dubbed AlyCoin. As Financial Magnates reported on Nov. 18, the Comisión Nacional del Mercado de Valores warned the public against AlyCoin as it the coin is registered neither in Spain nor in the corresponding registry and thus promotes unregulated initial coin offerings (ICOs). Specifically, AlyCoin purportedly provides its customers with financial services in violation of the second paragraph of Article 17 of the …

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German Regulator Flags Crypto Broker for Operating Without License

German regulator federal financial supervisory authority (BaFin) issued a warning against Bulgarian cryptocurrency broker 5 Capital on Nov. 11. The regulator has barred 5 Capital from operating in the country since the firm illegally offered Contracts for Difference (CFDs) designed to expose clients to the price movements of cryptocurrencies. Operating without license The regulator found that the company provided the service without the necessary license. Per the announcement, the broker is based out of Sofia, …

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Shanghai Gov’t Partners With 6 Banks on Blockchain Alliance for Trade

The municipal Shanghai government has joined forces with financial institutions to create an alliance to foster the use of blockchain for global trade.  The Global Times reported on Nov. 7 that during the China International Import Expo earlier today, the Shanghai Municipal Commission of Commerce, Shanghai Customs and representatives from six bank branches — including the People’s Bank of China and Bank of Communications — signed a Blockchain Alliance proposal for the city’s e-port area. …

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Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE

Shares of pro-crypto Silvergate Bank were launched for trading on the New York Stock Exchange (NYSE) on Nov. 7. Silvergate celebrates IPO day Silvergate Capital (NYSE:SI), a California-based commercial bank focused on digital currency businesses, is now officially listed on the NYSE, opening at $12.75, the NYSE tweeted Nov. 7. In conjunction with the event, Silvergate is celebrating its initial public offering (IPO) day today, according to the NYSE. The news follows Silvergate Capital Corporation’s …

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Crypto Exchange Binance.US Expands Support for Dogecoin

The United States-based branch of major crypto exchange Binance, Binance.US, will add support for Dogecoin (DOGE), according to a blog post published on Oct. 24. Binance.US’s users will be able to trade the DOGE/USDT pair from 09:00 p.m. EST on Oct. 24, while they can already start depositing the coin in advance of trading. Withdrawals will become available following the trading launch. Binance.US gradually expands its offerings Binance.US launched on Sept. 24, initially offering trading …

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Bitcoin Suisse Acquires $3M Share of Trade Intelligence Firm CoinRouts

Swiss crypto broker Bitcoin Suisse has purchased a minority stake of CoinRoutes Inc., a provider of pan-exchange smart order routing and algorithmic trading software. The investment and a new director Bitcoin Suisse announced the news on Oct. 22, specifying that it acquired a $3 million share of CoinRoutes. Niklas Nikolajsen, the chairman of the Bitcoin Suisse Group, became a member of the board of directors of CoinRoutes’s United States and Swiss entities. Bitcoin Suisse had …

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New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021

The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90% On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such as blockchain, big data and AI, will be applied to digitize the entire Korean trade finance ecosystem by the year 2021. Finance Minister Hong …

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Dubai, Emirates NBD Sign MoU on Blockchain Trade Finance Solutions

The Dubai Chamber of Commerce and Industry (DCCI) has signed a memorandum of understanding (MoU) with Emirates NBD. Middle Eastern news daily Saudi Gazette reported on Oct. 14 that the DCCI, which acts as an international business hub in Dubai, has signed an MoU with Dubai government-owned bank, Emirates NBD.  The bank, which is one of the largest banking groups in the Middle East in terms of assets, will provide trade finance solutions for the …

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Major Chinese Bank Updates Blockchain Platform After $50 B Transacted

The China Construction Bank (CCB) officially released the second version of its blockchain trading platform, which reached 360 billion yuan ($50 billion) in cumulative transaction volume. CCB will actively promote blockchain platform On Oct. 9, Xinhua news agency reported that CCB, one of the big four banks in the People’s Republic of China, announced the release of “BCTrade 2.0,” a blockchain trade finance platform that digitizes trade and financial services between a reported 54 domestic …

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Swiss Digital Exchange Plans ‘Initial Digital Offering’ in 2020: Report

Swiss Digital Exchange (SDX), a digital asset trading platform by Switzerland’s principal SIX Swiss Exchange, will reportedly launch its initial digital offering (IDO) in 2020. SDX security token The not-yet-launched SDX has reportedly set up a global consortium of financial institutions to back its IDO in the middle of 2020, Coindesk reports on Sept. 30. Thomas Kindler, who took over as SDX CEO on Sept. 1, elaborated that the consortium comprises a group of investors …

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