Coinshares Urges Customers to Fight UK Regulator’s Ban on Crypto ETNs

The United Kingdom’s Financial Conduct Authority (FCA) is proposing to ban cryptocurrency exchange-traded notes (ETNs) — but Coinshares, a U.K.-based regulated public exchange, disagrees with that proposal. Claims of insufficient evidence  In a Sept. 23 letter on its website, Coinshares claimed the FCA has not provided enough evidence to justify the proposed ban on crypto ETNs — warning its customers that they will no longer be able to trade such products if the ban is approved. The company added:  “We believe that the FCA has not provided sufficient evidence to justify the…

Consensys-Backed Identity Platform Partners With PwC

ConsenSys-backed identity management protocol uPort has entered a partnership with Onfido and PwC to develop blockchain-based identity management in the financial services sector in the United Kingdom.  In a Sept. 23 announcement, Ethereum-based digital identity platform uPort said that it was partnering with ID management firm Onfido and Big Four auditing firm PwC to develop a pilot for decentralized identity management.  The three firms are exploring how portable identity verification can improve the sign-up process for customers and reduce compliance costs for financial companies. PwC exec Mike Kennelly said: “It…

SIX Swiss Exchange Postpones Launch of Blockchain-Powered Digital Exchange

Switzerland’s principal stock exchange, SIX Swiss Exchange, has postponed the launch of its “fully-regulated” cryptocurrency exchange SIX Digital Exchange (SDX). As Reuters reported on Sept. 23, a spokesperson familiar with the situation said that SIX moved the full launch of SDX to the end of 2020 primarily due to legal and regulatory issues. The exchange is reportedly still in negotiations with partner banks, the services of which it will offer on the platform. The spokesperson said: “Future releases will offer more functionality, with a particular emphasis on asset servicing, in…

Boerse Stuttgart Launches Regulated Digital Exchange

The Boerse Stuttgart Digital Exchange (BSDEX) has launched for select users in Germany. Fully regulated under the German Banking Act In a Sept. 23 news release, the Boerse Stuttgart Group — Germany’s second-largest stock exchange — announced that trading has begun. The exchange, which is regulated under the German Banking Act, will initially allow users to trade the euro/Bitcoin (BTC) pair. BSDEX will gradually open up its trading venue to other retail and institutional investors, eventually followed by the entire European Union. Dirk Sturz, the CEO at BSDEX, added: “The market in…

Major Coins Trading Sideways, Bitcoin Deepens Under $10,000

Monday, Sept. 23 — Major cryptocurrency markets are reporting mixed signals, with Bitcoin (BTC) being slightly bearish following the launch of Bakkt’s physically delivered Bitcoin futures. Market visualization. Source: Coin360 The leading digital currency Bitcoin is down 1.55% on the day to trade at about $9,813 at publishing time. During the day, BTC has been trading in a narrow corridor between $9,788 and $10,097 — the lowest and highest price points of the coin over the day. As Cointelegraph reported in a dedicated analysis earlier on Monday, if Bakkt momentum picks up,…

Inverted Bitcoin Price Chart Is Bear Market Bottom Flipped Upside Down

During periods of times when assets consolidate and price action becomes exceptionally confusing, some crypto analysts will occasionally flip their Bitcoin price charts upside down in an to attempt to remove any preconceived bias from their technical analysis. One prominent crypto analyst has done just that, and Bitcoin’s current price action in inverse appears visually and structurally similar to the December 2018 bear market bottom, which could suggest that the current price action is a rally top and a powerful drop may be coming in the days ahead. Inverse Bitcoin…

IBM is Interested in Working on Facebook’s Libra Crypto

The cryptocurrency space has been on an impressive run this year and one of the biggest developments this year was the announcement of Facebook’s Libra, the social media company’s very own crypto token. It goes without saying that it was a huge announcement and caused a lot of noise in the crypto sphere. As is well known, Facebook (NASDAQ:FB) is heading the Libra project, but the company is going to be helped by many other firms. Key Development Today, it has emerged that tech giant IBM (NYSE:IBM) is apparently open…

Largest Tencent Shareholder Leads $15M Round in Blockchain Game Developer

Naspers, the largest shareholder of Chinese Internet giant Tencent, participated in a $15 million investment in blockchain game developer Immutable.  Key investors Immutable, a Sydney-based blockchain gaming startup, completed a new funding round led by Naspers and Mike Novogratz’s crypto investment bank Galaxy Digital, the company announced in a blog post on Sept. 23. As reported by the Australian Financial Review (AFR), other investors also included Sydney-based VC firm Reinventure and American private investment firm Apex Capital. Scaling from 13,000 to 1 million gamers projected According to the report, Immutable’s…

EOS’ First Hard Fork Successfully Completed Today

EOS, the seventh-largest cryptocurrency by market capitalization, performed its first hard fork earlier today. The EOS update tracking tool maintained by the chain’s block producer, EOSNation, reports that EOS block producers (BP) signaled their intent to implement the update on the EOS Mainnet on Sept. 23 at 13:00 UTC. According to the website, this is the largest upgrade that the network has seen so far, and the first one that required a hard fork. Lastly, EOS Nation also claims that 29 of the 30 top BPs committed to upgrading at…