Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why!

Popular Seychelles-based crypto derivatives trading platform, BitMEX has announced that it is closing its platform to three jurisdictions. The announcement was made in other to ensure the safety of its customers’ funds as well as the stability of the platform.
According to the official announcement, the regions affected by the restriction include Seychelles, Hong Kong, and Bermuda. Customers of the derivative trading platform based in these three listed regions will not be able to continue accessing the platform’s services. These three jurisdictions are where BitMEX parent HDR Global Trading Limited’s users and offices are located.
According to the official announcement,
“This change will have no financial impact on the business and will affect very few people. The BitMEX team will be reaching out to those who are affected,” the firm said in a statement. BitMEX also added that the firm welcomes the involvement of regulators in the cryptocurrency industry and that regulators will provide “a new era of legitimacy for cryptocurrency exchanges: a future where market operation standards are clearly stated and maintained, where security is paramount, and where financial reserves are independently and frequently audited.”
This comes after reports that the U.S. Commodity Futures Trading Commission (CFTC) is probing the firm to determine whether it went against regulations in the form of servicing US traders. BitMEX is not registered with the CFTC and counts the U.S. as one of the jurisdictions in its restricted access list.
The Genesis Of The Situation
This news is rather expected than a surprise to anyone who followed the derivative exchange’s tangle with popular economist and crypto antagonist, Nouriel Roubini about a month ago. BitMEX’s CEO, Arthur Hayes was engaged in a debate with Roubini in Taipei along with discussions focussing on cryptocurrencies.
Thereafter, Roubini ramped up a campaign against BitMEX which then led to CFTC investigating the trading platform. In the days following the events, BitMEX had experienced a huge outwards funds flow and the daily trading volume had dropped drastically. The platform’s social media also stopped updating.
The post Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why! appeared first on Coingape.
Source: CoinGape

Nvidia Posts Strong Earnings for the Second Quarter of Fiscal 2020

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Nvidia Posts Strong Earnings for the Second Quarter of Fiscal 2020
Beating the street estimates, Nvidia has posted 16% rise in its earning for Q2 fiscal 2020 in comparison to the previous quarter.
Nvidia Posts Strong Earnings for the Second Quarter of Fiscal 2020

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Source: CoinSpeaker

Alibaba Filing US Patent for Blockchain Domain Name Scheme

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Alibaba Filing US Patent for Blockchain Domain Name Scheme
Alibaba has filed a U.S. application to patent a system that utilizes a so-called “unified blockchain domain name” to work with information.
Alibaba Filing US Patent for Blockchain Domain Name Scheme

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Source: CoinSpeaker

R3’s Marco Polo Platform Records New Blockchain Transaction Agreement

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R3’s Marco Polo Platform Records New Blockchain Transaction Agreement
The Marco Polo platform, jointly developed by R3 and TradeIX, has just facilitated a new transaction entirely via blockchain. It’s a new step towards production.
R3’s Marco Polo Platform Records New Blockchain Transaction Agreement

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Source: CoinSpeaker

Elrond Joins the Trusted IoT Alliance to Facilitate a Sustainable IoT Ecosystem

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Elrond Joins the Trusted IoT Alliance to Facilitate a Sustainable IoT Ecosystem
The Trusted IoT Alliance has just welcomed Elrond as a new member. The Elrond Network, with its high throughput and sharding, is expected to bring benefits to the Internet of Things.
Elrond Joins the Trusted IoT Alliance to Facilitate a Sustainable IoT Ecosystem

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Source: CoinSpeaker

Binance Highlights on Its Scheduled System Upgrade

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Binance Highlights on Its Scheduled System Upgrade
Binance made an official announcement about its scheduled system upgrade at 02:00 AM (UTC) on 2019/08/15. All services will be suspended during this entire process that may take up to 8 hours.
Binance Highlights on Its Scheduled System Upgrade

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Source: CoinSpeaker

Akon To Speak At Malta Blockchain Summit As Attendees Prepare Ahead Of November

Popular African-American Hip Hop star, Akon has been confirmed as one of the speakers at the forthcoming Malta AI and Blockchain Summit. The event, which is dedicated to blockchain and cryptocurrencies is scheduled to hold in November and will feature Akon amongst many other speakers.
Akon To Speak About His Crypto Project
Speaking at the Malta blockchain summit, the renowned singer, Akon will explicate on his cryptocurrency project with a native token called Akoin. Akoin provides a new cryptocurrency and digital wallet with an integrated ecosystem of decentralized applications (DApps).
The Akoin Ecosystem unlocks the potential of the world’s largest emerging economy through the creation of a trusted cryptocurrency with a vision to stimulate and innovate, revenue-generating opportunities that support and empower youth entrepreneurship, economic stability, and growth across Africa and the world.
According to Akon, the Purpose of Akoin is to propel a massive technological and innovational African digital city which will enable young African entrepreneurs to maintain a sustainable future. In accordance with the vision, Senegalese President, Macky Sall has provided Akoin with about 2,000 acres of physical space(land) for the future renewable mega city which aims to be highly technological.
“The concept is to create a renewable city,” he explains. “The crypto are the money spent in the city, all digital. All renewable energy, no gas, nothing at all.And clearly, we will create platforms of all the latest technologies of today integrated into the city itself “
The Malta AI & Blockchain is a popular highly successful series of Blockchain events which attracts over 8,000 attendees. The next edition is taking place in Malta starting on the Thursday 7th of November through Friday 8th November, 2019.
The post Akon To Speak At Malta Blockchain Summit As Attendees Prepare Ahead Of November appeared first on Coingape.
Source: CoinGape

Flexa Spreading Their Crypto Payments to Canada

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Flexa Spreading Their Crypto Payments to Canada
Flexa is finally launched outside of the US for the first time ever, which made instant, in-store cryptocurrency payments available to residents of the Great White North, from Yukon to Nova Scotia and from Vancouver to St. John’s.
Flexa Spreading Their Crypto Payments to Canada

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Source: CoinSpeaker

New Zealand’s Bank Invests Undisclosed Amount in Blockchain Startup TradeWindow

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New Zealand’s Bank Invests Undisclosed Amount in Blockchain Startup TradeWindow
New Zealand’s Auckland Saving Bank has invested in a blockchain startup called TradeWindow to support the launch of the Distributed Ledger Technology (DLT) trade platform.
New Zealand’s Bank Invests Undisclosed Amount in Blockchain Startup TradeWindow

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Source: CoinSpeaker

Bitcoin Cross-Border Payments Now Available in 60 Latin American Banks

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Bitcoin Cross-Border Payments Now Available in 60 Latin American Banks
Bantotal, a core banking service provider, is working closely with Bitex crypto exchange to facilitate cross-border payments using the Bitcoin blockchain targeting at least 60 Latin American banks.
Bitcoin Cross-Border Payments Now Available in 60 Latin American Banks

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Source: CoinSpeaker

The IRS Is on the Hunt for Cryptocurrency Tax Avoiders

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The IRS Is on the Hunt for Cryptocurrency Tax Avoiders
While cryptocurrencies are continuing to gain popularity, it’s high time to learn how to report your crypto gains in order to comply with IRS regulations and avoid undesirable consequences.
The IRS Is on the Hunt for Cryptocurrency Tax Avoiders

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Source: CoinSpeaker

TRON’s Sun Network V1.0 Code Is Released to Allow Unlimited Scalability

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TRON’s Sun Network V1.0 Code Is Released to Allow Unlimited Scalability
TRON’s founder, Justin Sun, has announced that the first version of Sun Network’s code is released. According to Sun, the side chain is one of TRON’s 100X scalability solutions.
TRON’s Sun Network V1.0 Code Is Released to Allow Unlimited Scalability

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Source: CoinSpeaker

New Harmony Mainnet Network Upgrade Is on Its Way

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New Harmony Mainnet Network Upgrade Is on Its Way
The Harmony network has just carried a network upgrade increasing, the number of nodes from 600 to 800. Moreover, it is possible that Harmony will be officially listed on Coinbase in the future.
New Harmony Mainnet Network Upgrade Is on Its Way

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Source: CoinSpeaker

New Petition Wants Ripple to Stop Dumping XRP into the Market

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New Petition Wants Ripple to Stop Dumping XRP into the Market
A new petition requires Ripple to stop dumping XRP which could ensure a stronger demand for the coin and would let its price grow naturally.
New Petition Wants Ripple to Stop Dumping XRP into the Market

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Source: CoinSpeaker

DAO.Casino Receives Integrity Award Certificate from Gaming Laboratories International

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DAO.Casino Receives Integrity Award Certificate from Gaming Laboratories International
The Gaming Laboratories International (GLI), has awarded gaming blockchain platform DAO.Casino, with a certificate of Integrity. The certificate was awarded as a confirmation of true randomness for DAO.Casino’s Signidice RNG. 
DAO.Casino Receives Integrity Award Certificate from Gaming Laboratories International

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Source: CoinSpeaker