Cryptocurrency Exchanges Targeted by Fake Photo Scam

Research indicates that large cryptocurrency exchanges are increasingly being targeted by scammers using doctored photographs to trick two-factor authentication reset procedures. The attack once again highlights the importance of securing one’s own private keys and not entrusting security to a third party exchange.
There is a market on dark web forums for doctored images and the rates to buy them are remarkably cheap. However, given that many large exchanges require multiple verification methods to reset a two-factor authentication, it remains to be seen just how effective the scam will be.
Cryptocurrency Exchanges are Still Not Safe Storage Options
Those cryptocurrency users choosing to leave their digital assets on centralised exchanges have a lot to be fearful of already. There is the ever-present risk of the site itself falling victim to a security comprise. Then there is the whole QuadrigaCX debacle, which appears to have been caused by either negligence on part of the now-deceased CEO or perhaps something more sinister altogether.
Add to these issues the risk of phishing attacks and potential mismanagement of company finances à la Mt. Gox and it is easy to see why almost every thought leader in the space advocates learning to secure your own digital assets.
The latest reported scam being used to defraud people out of their cryptocurrency holdings involves attempting to trick an exchange’s staff using altered photographs. The idea is to convince the exchange that a request to reset the often-mandatory two-factor authentication security process required to gain access to accounts is a legitimate one and is coming from the owner of the account.
Attempts to hack cryptocurrency exchange users’ account are getting more devious. However, this seems to lack the finesse of others.
Research by Hold Security and reported by Bank Info Security, states that there is a wealth of information relating to data fraud techniques on dark web hacking forums. Amongst these covert pages is around 10,000 doctored photographs, used for various verification techniques.
According to Alex Holden, the Chief Information Security Officer at Hold Security, an altered photograph will cost scammers around $50. Bank Info Security published an example of such a picture. It featured an anonymous individual holding up a passport and a note with the date and the words: “Reset 2FA”.
Those orchestrating the attack against cryptocurrency exchange users will submit a request to change the device used to obtain two-factor authentication codes. They will then provide a photograph that has been doctored to show information about the targeted user.
Since some exchanges do not require a customer to submit photographic identification when they sign up, Holden states that the doctored photographs will have had some success.
“Some companies have no ability to assert what their client looks like… It’s not like hackers publish success rates,” Holden says. “But because we know that [hackers who] we are monitoring are actually making money off of it, I’d say yeah.”
Largest Exchanges are Not Worried About Threat from Doctored Photographs
Of course, a lot of cryptocurrency exchanges do require new users to verify their identity with a government-issued document before trading on the platform. For this reason, many of the largest exchanges are not concerned about their users’ security – at least not from this attack. However, most were less-than-willing to talk about examples seen of scammers using fake photographs in such a manner.
A representative from Coinbase commented on the fact that the San Francisco-based exchange uses multiple levels of ID verification to reset account passwords and two-factor authentication. Similarly, Kraken stated that each ID verification picture must display a custom message and those users with the highest tier accounts will have already submitted photographic identification upon signing up for the upgrade.
Binance, meanwhile, reported that it had indeed seen examples of attempts to beat two-factor authentication using doctored photographs:
 “Unfortunately, we’re no stranger to these types of malicious attempts to gain access.”
However, a representative from the trading venue giant did go on to talk about its security procedures. The exchange requires users submit a set of photographs for resetting two-factor authentication, along with a “face verification” step using a webcam:
“Given the measures we currently have in place, I don’t believe this threat is something for Binance to be particularly worried about at the present time.”
Thanks to the heightened security at these massive cryptocurrency trading venues, it seems unlikely that many attempts to reset two-factor authentication will be successful. Even at smaller exchanges, users almost always need to send request emails from the address used at the time of registering for an account. From the crudeness of the attack detailed, the security precautions taken by both the targeted venue and individual user would need to be incredibly lax indeed for it to be successful.
 
Related Reading: MyEtherWallet Users Targeted with Phishing Email Scam
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Coinbase Aggressively Expanding, High Hopes For Crypto in 2019

Crypto exchanges do not get much bigger than Coinbase which has grown at a phenomenal rate over the past couple of years. The firm has not been deterred one bit by this year’s crypto rout and continues to aggressively expand into new markets and with new products.
No Slowing Down into 2019
On Thursday the company said it had expanded into several new countries according to CNBC. Many of them are in Europe and recent new markets for the crypto firm include Iceland, Lithuania, Andorra, Gibraltar, Guernsey and the Isle of Man. Coinbase recently opened an office in Dublin amid fears of a negative outcome from Brexit negotiations.
A number of these new destinations are pitching themselves as blockchain and crypto friendly for new startups to launch their products. Malta and Switzerland are already at the top of the crypto tree and Gibraltar is aiming to catch up with its domestic licensing process for blockchain technology firms. UK CEO of Coinbase, Zeeshan Feroz, said;
“I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market,” before adding “I think if you look at last year, a lot of the focus was on people who bought crypto from an investment point of view and a lot of projects raised a ludicrous amount of money as a result of that,”
The expansion plans come right in the middle of a yearlong crypto rout which has seen markets tumble by over 80%, so Coinbase at least is clearly not worried.
New Products and Incentives
In addition to seeking new crypto friendly locations, Coinbase has also expanded its product line. The most recent offering has been a long awaited crypto-to-crypto trading option that most other exchanges already employ. Coinbase has been known for having some of the highest fees in the industry and these are amplified by inflated foreign exchange rates when dealing with fiat currencies. Direct crypto trading will not incur those fees, but there will be a spread between the two assets.
In another initiative to get more people into crypto, Coinbase has offered to pay them to watch videos and take quizzes according to Fortune. This particular offering will be using the recently added ZRX token as the project had set aside 1.6 million of them to give away to Coinbase users.
It is clear that there is no slowing down for the big exchanges. Coinbase is not alone with its expansion ambitions as Binance, Huobi and OKEx have also branched out into new markets and with new products. Big things are anticipated in 2019 for cryptocurrencies and the big boys are gearing up for it.
 
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Crypto Exchange Coincheck to Receive Full Licensing from Japanese Authorities

Coincheck, the crypto exchange that lost over $500 million in investors funds in early-2018, is now close to receiving full licensing from Japan’s Financial Services Agency (FSA), signaling that the exchange tightened their platform’s security and cleaned up the management practices that led to the hack.
The news regarding the regulatory authority’s decision to issue the exchange their operational licensing was first reported by Nikkei Asian Review, who stated that the license will be issued by the end of 2018.
Crypto Exchange Regulation to Reduce Chances of Future Hacks
As reported by Nikkei in January of 2018, the hack, which resulted in the theft of NEM tokens, was the direct result of poor security features and exchange mismanagement, which led to multiple vulnerabilities that encouraged hackers to target Coincheck over other, more secure, platforms.
Koichiro Wada, the chief executive officer of Coincheck, spoke to Reuters about the reasons behind the platform’s vulnerability, and blamed the lack of experienced employees for the platform’s flaws.
“We were aware we didn’t have enough people working on internal checks, management and system risk. We strived to expand using headhunters and agencies, but ended up in this situation,” he said.
Following the hack, the FSA swiftly moved to enforce regulations on crypto exchanges that would hold them to similar requirements that banks are held to, scrutinizing their business plans, ensuring that anti-hacking measures are in place, and that the management team is being held to high standards.
The FSA issued two separate improvement orders to Coincheck after the hack occurred, and on both occasions found that it lacked sufficient safeguards to protect investor’s funds and to prevent money laundering from occurring.
Coincheck Trading Volume Drops, Exchange Begins Restoring Trading Services
Although the exchange refunded all the lost funds to investors, the news regarding their platform’s issues has led to a declining trading volume that signals that the damage to the exchange may be irreversible, regardless of the receipt of their licensing from the FSA.
The exchange’s trading volume, which has been continuously dropping due to the declining crypto markets and decreased investor confidence in the platform, is currently sitting at just under $24 million USD according to CoinMarketCap.
Coincheck resumed new account openings and customer deposits in late-October, initially only resuming trading for four cryptocurrencies, and limiting new accounts to Japan residents exclusively. It wasn’t until November that the platform resumed NEM trading, and only a few weeks ago they revealed that they would resume trading for XRP and FCT tokens.
A translated statement from Coincheck regarding the re-listing of XRP and FCT reads in part:
“In connection with unauthorized remittance of the virtual currency NEM…the Company suspended the services partially in order to investigate the cause of customer asset protection and unauthorized remittance, and formulated a business improvement plan. In implementing this plan, we have tried to improve our management control system and internal control system. In addition, with the cooperation of external experts who carried out a step-by-step safety audit, we have restarted the service that enables the receipt, purchase and exchange of XRP and FCT.”
It is likely that the exchange will be slowly restoring full trading services leading up to the issuance of their licensing at the end of the year.
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Are Bitcoin Exchanges ‘Immature’?

An old-school technology company which was founded ten years before the Bitcoin white paper was released it now looking to help today’s cryptocurrency trading platforms mature.
Based in the capital of Sweden, Cinnober mainly provides tech solutions to traditional stock and commodity exchanges around the world. However, this year it has seen a few deals with crypto startup. The most recent one is the Bitstamp exchange which announced this week that it will be the first in the space to use the vendors TRADExpress platform, alongside the likes of the London Metal Exchange.
It’s likely that this won’t be the last crypto exchange to do so. Cinnober says that it’s looking for other potential partners in the market and sees about twelve that would be perfect fits.
The leader of Cinnobers cryptocurrency and blockchain division, Eric Wall stated in a recent interview that:
“The most suitable ones are those who are looking to participate in the transformation that the industry is going through. We can serve retail-only focused cryptocurrency exchanges, but the ideal customer for us is the one that is looking to cater more heavily to institutional investors.”
Getting institutional traders as clients will be a vital part for cryptocurrency exchanges to carry on. Wall thinks that this will require significant adjustments saying:
“Cryptocurrency exchanges currently are extremely immature from the traditional financial markets perspective. Many of them lack basic knowledge of how to operate robust and reliable financial markets.”
Especially looking at attracting more investors, crypto exchanges should provide the same functionality as traditional stock and commodity exchanges do. As Wall says, adding in trade compression, netting and clearing mean that cryptocurrencies can be traded like a typical financial asset.
With crypto exchanges, they are typically operated on a pre-funded basis, only allowing users to trade as much as they have on their accounts, while traditional financial exchanges use cleared trades when customers maintain collateral deposited with a clearinghouse.
Wall continued to say:
“Right now the cryptocurrency exchange market is very inefficient as there are no clearing technologies and clearing houses in place. We can help a cryptocurrency exchange become a real exchange that has a clearing module, so trading is more efficient for institutional investors.”
What are your thoughts? Let us know what you think down below in the comments!

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MBAex Accepting Dash To It’s Exchange

A cryptocurrency exchange in Southeast Asia, MBAex, will start to implement DAsh into its platform along with their own token MDP, Tether and Bitcoin trading pairs, due to the great work from Dash Embassy D-A-CH.
The exchange’s currency consumer base is around “70% from Greater China area (China, Taiwan, HK, Macau)”, “20% SE Asia”, as well as “10% Others” areas with “daily website traffic of approximately 1.8mil access and active trader count of approximately 200k to 300k individuals.”
The exchange told Dash Force News that they currently have over 1 million registered KYC–ed users. The integration will expose Dash to more individuals along with having the advantages of their “24hrs live chat support and an affiliate program to drive the growth of user base and transactions.”
The exchange features trading fees which are 0.05% with a VIP6 subscription and a normal rate of just 0.1%. They also have extensive informational and research sections for traders. Over the next two years, MBAex has a goal to offer more products and services to grow their community, continue efforts on branding and marketing and expand in European markets.
MBAex has said that they are motivated to integrate Dash because they always select the project with a great value proposition and potential to fulfil the needs of their user base. This is a common theme throughout the ecosystem and development of Dash. the payment processor and exchange, SlithEx is also aiming at integration in Southeast Asia by using Dash’s ease of use and technology advances to gain a better adoption.
As said by Dash Force News:
“Many groups who have integrated Dash have highlighted Dash’s focus on everyday usability as a reason for the integration and this increases the demand to buy and sell Dash on exchanges”
The demand from merchants and consumers alike which want to buy Dash to use it or need to liquidate it into fiat to pay bills which can’t currently be paid through Dash.
The team at Dash has actually said that it will focus on increasing adoption for Dash. This is due to traders using Dash as their liquidity service to move between exchanges and other coins quickly to capture the potential gains because Dash is faster and cheaper to move than other coins
What are your thoughts? Let us know what you think down below in the comments!

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How Bakkt Could Lead Bitcoin To Recovery

A well-known crypto trader, technical analyst and all-around figure the crypto space, Alex Kruger has said that Bakkt will lead the recovery of Bitcoin throughout the end of this year to the start of the next.
Kruger went onto say that denial of the Bitcoin exchange-traded fund filling of SolidX, VanEck and Chicago Board Options Exchange will lead to the crash of Bitcoin, possibly leading back down to the $6,000 mark and maybe even the $4,000 level.
Kruger said:
“Possible outlook for BTC: First, bull run on BAAKT & renewed ETF approval narrative early 2019. Second, ETF denied Feb/27, massive crash, goodbye 6k, hello 4k, cleanse all weak hands Lastly, halvening 2020 narrative and re-adjustments lead to [a] sustained bull run for the rest of 2019 & 2020.”
The trading platform, Bakkt has strict regulations on it by its developer’s ICE, the parent company of the New York Stock Exchange and is currently in the process of established an ecosystem that enables both retail traders and institutional investors to invest in the crypto market with sufficient investor protection and through products which are in touch with the regulations in the United States.
Bakkt is expected to launch a cryptocurrency futures market next month. This aims to increase the liquidity of Bitcoin. Prior to this, the US Securities and Exchange Commission rejected nine Bitcoin ETFs on the premise that the Bitcoin futures market is not a sufficient size to handle an ETF.
As said by CCN:
“The entrance of Bakkt into the cryptocurrency exchange market, the involvement of Bitcoin futures market operator CBOE in the VanEck ETF, and the track record of VanEck in filing over 200 successful ETFs with the SEC have led to an increase in anticipation towards the VanEck-SolidX ETF.”
Throughout the next two to three months, Kruger emphasized that renewed enthusiasm towards the market initiated by Bakkt and the VanEck ETF will lead the Bitcoin price surge up higher to major resistance levels.
Since August, Bitcoin failed to break out in the $6,000 area because of its low daily trading volume and relatively low trading activity in the global crypto exchange market.
As of now, the market needs a major catalyst to engage a proper short-term rally and upside movement leading to the two financial institutions being a major factor which might trigger an increase for the price of Bitcoin.
What are your thoughts? Let us know what you think down below in the comments!

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Crypto Manipulation Can Be Stopped According To Nasdaq

According to the US stock exchange giant, Nasdaq, they can lead the fight against the manipulation in the market which has been surrounding the space for a while now. In fact, a couple of other exchange platforms are already adopting the exchange operator’s market surveillance technology.
So just how can the exchange solve fraud and market manipulation? In a report published at the start of November, Nasdaq mentioned that it has a lot of experience in dealing with the little details of the assets trading markets.
In part of the report by Nasdaq it says:
“Regulators, brokers, and exchanges have surveillance teams that monitor activity constantly and advanced technologies to help capture and analyze abusive behaviours including pump-and-dump schemes, insider trading, wash trading as well as spoofing and layering.”
As reported by Bitcoinist, many critics of digital currencies are fast to point out that there is a lack of sturdy regulations in the industry as an incentive or all kinds of illegal trading practices. In the US, the Justice Department in conjunction with the CFTC began investigating different allegations of manipulation of price in terms of Bitcoin.
According to Nasdaq, some significant players in the crypto trading space are already using its market surveillance technology.
During the midpoint of this year, reports emerged saying that Gemini, SBI Virtual Currencies and three other platforms were already using Nasdaq’s SMARTS technology with further developments in the trading space. With all this, the firm seems to be in somewhat of a high demand.
Tony Sio, the head of the exchange’s regulatory surveillance spoke out on the matter and said:
“We’re now getting approached every week or two. We won’t work with all of these firms though since a lot of them are quite an early stage or not reputable yet.”
For the exchange, since the start of 2018, this has been the case of moving from tentative to more concrete involvement in the upcoming virtual currency industry. Adena Freidman, the CEO, has showed her bullish sentiments in the past regarding the prospects of digital currency whilst also reiterating the need for more robust regulations.
What are your thoughts? Let us know what you think down below in the comments!

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WEX Accounts Frozen By Binance

As said by CCN:
“Intrigue abounds around the allegedly Singapore-based WEX exchange, whose ownership and activities have both been called into question in recent months.”
One key thing to look at was the exchange listing a much higher market price for Bitcoin and strangely overcharging for USDT. Prior to this, an interesting report on the exchange written by Conor Maloney which partly explained:
“WEX is a rebranded version of the BTC-e exchange which was shut down in connection to a multi-billion dollar money laundering operation with a Russian national named Alexander Vinnik reportedly charged in connection with the criminal operation.
Singapore business records indicate that the exchange is officially owned by one Dmitry Vasiliev, but he recently claimed to have lost control of the exchange and was unable to clarify exactly who was in charge.”
According to recent reports in the crypto space and the CEO of Biance, Changpeng Zhao, WEX has been seen shifting millions of dollars worth in cryptos from its exchange through the biggest exchange by number and Binance has in turn frozen the accounts and requested the public to get in touch with the police. As said by Zhao on his official Twitter.

the identified accounts are frozen, please report to law enforcement and have a case number.  We will work with LE. This is part of centralization we hate too, dealing with other exchange’s mess (we don’t even know the details). But we will do what we can. https://t.co/tgyYI5ptqx
— CZ Binance (@cz_binance) October 30, 2018

Previously, WEX has frozen withdrawals and it seems likely that the problems on the exchange will go on. Prior to its negative coverage regarding the withdrawal problems and its strange prices, WEX was an unknown quantity. People keep on getting themselves into trouble whilst they are dealing with small exchanges, leading experts to advise that people stick with large-scale regulated known exchanges in all cases.
What are your thoughts? Let us know what your thoughts are down in the comments below!

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Gemini Adds Litecoin with Approval from New York Regulators

Cryptocurrency exchange, Gemini, announced today that they will be adding support for Litecoin (LTC) beginning on Saturday, October 13th. Investors will be able to deposit LTC into Gemini, but will not be able to trade the cryptocurrency until Tuesday, October 16th.
Litecoin will be the fourth digital asset added to the exchange platform and will have trading pairs with all the available assets on the platform, including Bitcoin, Ethereum, and Zcash.
Litecoin is a peer-to-peer (P2P) open source project that was forked off of the original Bitcoin network in October of 2011. Although met with some controversy regarding its utility as compared to Bitcoin’s, it is now widely referred to as the Silver of cryptocurrency, while Bitcoin is the industry’s Gold.
Although technically similar to Bitcoin, Litecoin differentiates itself by using a unique mining algorithm that is intended to make it more decentralized, and utilizes some features intended to make it more efficient for payments than Bitcoin.
The move to add LTC to Gemini came after the exchange received approval from the New York State Department of Financial Services (NYSDFS) that approved Gemini’s addition of Litecoin trading and custody services.
Eric Winer, Gemini’s vice president of engineering, wrote about the NYSDFS’s regulatory relationship with the exchange in a Medium post, saying:
“Gemini continues to grow with a ‘security-first’ approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets.”
Gemini Postpones Plans to List Bitcoin Cash
In the exchange’s Litecoin announcement, they also explained to investors that they have delayed their plans to list Bitcoin Cash, the recent and highly controversial fork of Bitcoin.
The reason for postponing their plans to list BCH is mainly surrounding the uncertainty in the community regarding possible hard forks occurring later this year.
Gemini explains that:
“There has been much uncertainty lately within the Bitcoin Cash community about one or more possible hard forks arriving in mid-November. Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash. Because of this situation, we are delaying our launch of Bitcoin Cash deposits, withdrawals, and trading until late November…”
Possible Price Impact of Gemini Litecoin Listing 
Upon the news of Gemini adding Litecoin to their platform, the cryptocurrency posted slight gains, mainly due to an overall recovering market that has moved up slightly after seeing widespread losses on Wednesday and Thursday.
This past May, when Gemini added Zcash to their platform, the crypto pumped 40% in a day, mainly due to a combination of general market health and the somewhat unexpected news of the listing.
Although Gemini may not have the same market influence as its main competitor, Coinbase, the exchange still has significant trading volume. It is possible that there could be a LTC price pump once trading begins on the exchange, but decreasing trading volume across the board could hamper this.
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Bitfinex Stops USD Deposits To Their Exchange

The popular digital currency exchange, Bitfinex has reportedly stopped its USD deposits to their exchange. This news comes after last weeks, several rumours that the exchange was broke which made management forced to step up and deny the rumours that they were not bankrupt.
The company has gone under inspection for the widespread use of the USD Tether stablecoin. However, there haven’t been any transparent audits which actually prove the stablecoin is backed by the US dollar. This is a serious situation for the market, with over $2.5 billion in the form of USDT.
A digital currency news outlet, The Block has revealed that earlier today, the exchange has stopped all deposits of USD. At least, they have stopped them for now as they are expecting the situation to return to normal by next week. The same news outlet also reported that their new partnership with the popular bank HSBC, after reports emerged of their previous banking partner finding it hard to run.
On their blog, Bitfinex said this on the matter:
“Complications continue to exist for us in the domain of fiat transactions, as they do for most cryptocurrency-related organisations. However, we continue to do our utmost to minimise any waiting times associated with fiat deposits and withdrawals.”
Their bank account is a private one under the name Global Trading Solutions and so it isn’t clear whether HSBC was aware that the exchange was banking with them. According to The Block who said:
“Now it appears that the private account is no longer functional. Bitfinex currently has no active method of deposits as all USD, EUR, JPY and GBP deposits are paused.”
Now, this is different from what was said by Bitfinex in their blog post explaining why they weren’t bankrupt or going bankrupt. They had said:
“Verified Bitfinex users can freely withdraw Euros, Japanese Yen, Pounds Sterling and U.S. Dollars.”
Twitter users are also reporting the issue, with USD withdrawals currently being temporarily stopped for many. There is speculation that the recent drop in the price of Bitcoin was due to the rumours of the withdrawals being stopped.
If you decide to attempt to deposit USD anyway you will be met with this message:
“USD Wire Deposits Temporarily Paused. We expect the situation to normalize within a week. We apologize for the inconveniences.”
What are your thoughts? Let us know what you think down in the comments below!
Reference:
AMB Crypto

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BIT10 Is Inspiring Institutional Investment Thanks To Abra

Institutional investment is a driving force that promises to pull Bitcoin up to the very top. Many expect that when the big institutions start to get involved that Bitcoin will surpass all of its targets and reach values that far exceed $20,000.00. This is why, when we hear news of index funds and other projects of institutional interest we all get a little bit excited.
This latest project, through Abra is no exception to this.
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Goldman Sachs-Backed Firm Acquires Crypto Startup to Issue Tokenized Securities

Circle Internet Financial, one of the markets most well-known and well-funded crypto startups is acquiring crowdfunding firm SeedInvest in order to make it easier for startups to issue digital coins and to allow its customers to trade a greater variety of digital tokens.
Major Development in Tokenized Securities
SeedInvest was founded in 2012, and is a unique platform that allows investors, from anywhere in the world, to invest in startup companies, an ability that is typically reserved for wealthy investors who meet specific requirements set forth by global regulatory agencies.
Despite increased accessibility to unique private fundraising opportunities, many SeedInvest projects do have specific investor requirements, mainly due to the regulations incurred by being incorporated under a registered broker-dealer with the US SEC.
If approved by regulators, the acquisition of SeedInvest by Circle would offer the crypto markets a new investment opportunity: investing in companies through the issuance of regulated security tokens that would entail investors to specific rights as set forth by the company.
It would also prove incredibly helpful to companies that are looking to use a tokenization model to reach a wider investor audience and to avoid the challenges posed by traditional share-based fundraising models that require heavy banking presence.
Circle’s CEO, Jeremy Allaire, spoke about his company’s latest acquisition, saying:
“This was a company who had been at the forefront of collaborating with government to figure out how to make it possible to innovate in the way people raise capital. Crypto securities are going to become a major new category of securities that ultimately every business is going to adopt, just like every business has a website.”
Many investors and companies have been wary of token issuances that resemble securities, mainly due to the regulatory risks associated with them. The introduction of a fully regulated investment platform, like SeedInvest, however, would alleviate these concerns and provide a fully regulated venue for prospective security token investors.
Circle is not Alone: Growing Trend of Cryptocurrency Exchanges Acquiring Registered Broker-Dealers
Cryptocurrency exchange Coinbase has also taken similar actions to acquire registered broker-dealers in order to legally list, and sell, cryptocurrencies and tokens that are deemed as being securities by the US Securities and Exchange Commission.
The exchange’s recent acquisition of Keystone Capital, Venovate Marketplace, and Digital Wealth, all help this goal, enabling compliance with securities laws set forth by the SEC and FINRA.
Asiff Hirji, the President and COO of Coinbase recently wrote about the exchange’s acquisitions, saying:
“Today, we’re announcing that Coinbase is on track to operate a regulated broker-dealer, pending approval by federal authorities. If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)… This is all being enabled by our acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC.”
Circle and Coinbase are both working towards a similar goal of profiting from the growing trend of tokenization, which could very well alter the way money is raised in the 21st century.
“It’s not just ‘how do we let companies do ICOs?’ It’s ‘how do we support the tokenization of everything?’” Allaire added.
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Here’s How Binance Have Achieved Crypto World Domination


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When you think of cryptocurrency exchanges, a few names and brands may spring to mind, none of which however will have quite the same impact as the name ‘Binance’, the cryptocurrency exchange that is quickly becoming the world’s biggest.
Like every cryptocurrency exchange, Binance started out with the goal to give it’s users better and faster access to more cryptocurrencies. They wanted to create an easy to use platform that would allow as many people as possible to buy every cryptocurrency.
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Coinbase Want To Attract More Than Just Institutional Investment

Coinbase have been accused of only wanting to attract institutional investors, however their latest move is one that has been designed entirely for low level and inexperienced investors. Coinbase Bundle is a new platform that is being launched by the popular US exchange in order to make it easier for new investors to invest in cryptocurrency.
Coinbase Bundle will be launched in the United States and across Europe over the next few weeks and will allow new traders to purchase a bundle of five cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic (all of the tokens that are currently offered on the Coinbase exchange).
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Binance Unveils Plans To Test A Fiat Crypto Exchange In Singapore

Binance, the world’s largest cryptocurrency platforms by trading volume, will start a crypto fiat exchange testing in Singapore. This was revealed by the Binance Co-founder and CEO ChangPeng Zhao, during a blockchain conference in Singapore. He later confirmed the plans through an official tweet post. It can therefore be assumed that before the end of the year, Binance would offer support for the Singapore Dollar (SGD) including alternatives like SGD/BTC and SGD/ETH pairs. For now, the SGD pairs will only be available in closed Beta, since the beta testing will be through invitation only. 
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