Bitfinex Improves its Margin Trading Instrument to the Tune of 100x

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Bitfinex Improves its Margin Trading Instrument to the Tune of 100x
The estranged multi-purpose Bitfinex exchange set to increase its margin trading capacity allowing for up to 100x leverage on its crypto derivative platform.
Bitfinex Improves its Margin Trading Instrument to the Tune of 100x

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Source: CoinSpeaker

Chinese Citizens Can Own Bitcoin Legally: OTC Trading is Also Legal

Chinese citizens are legally allowed to own bitcoin. This was revealed through a recent research report released by Council Member at the Bank of China’s Law Research Association— Sa Xiao Wei.
According to Sa Xiao, contrary to popular belief, owning bitcoin in China does not count as a legal offence, even with the ban in place.
Sa Xiao Wei Says OTC Trading is Legal
Furthermore, Xiao made it known that the “occasional exchange of bitcoins between individuals and individuals is legal.”
Sa Xiao also made it known that according to the country’s law, doing so is an act of “disposition of power” whereby an owners transfer an asset to a new owner along with rights associated with the asset.
Therefore, “how to dispose of it is the private right of the owner, and others have no right to interfere.
As such, crypto OTC trading is also not considered a crime.
Good But Not Good Enough
Although, positive news for the entire Chinese crypto community, there is no cause for celebration yet. This is mainly because there are several interconnected crypto laws in the country which can still get one in trouble.
Reportedly, China currently has 461 court judgments related to “Bitcoin”. This number is steadily increasing. As of the last five years, only 9 bitcoin-related judgement was in court.
According to local media CnLedger, Sa Xiao Wei and some other lawyers have reached an agreement that according to the Country’s Criminal Law, “non-p2p trading may fall under the Article 225, numeral 3 of the Criminal Law, “Other illegal business operations that seriously disrupt market order”.
According to the publication, Xiao’s views are centred around “the current legal framework which protects people’s rights of virtual properties (Bitcoin included).”
The Chinese Government is Heavily Invested in Blockchain Technology
The Chinese government has been investing in blockchain technology despite its ban on cryptos.
Recently, a Chinese city government blockchain fund was launched. The fund has $1.6 billion available to invest in innovative startups.
Reportedly, China accounts for more than70% of the total Bitcoin network’s hashrate.
Xi Jinping, the country’s president has also made it known that blockchain will be part of the “new industrial revolution.”
The post Chinese Citizens Can Own Bitcoin Legally: OTC Trading is Also Legal appeared first on Coingape.
Source: CoinGape

Huobi Announces the Lauch of Its Fully Regulated OTC Desk

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Huobi Announces the Lauch of Its Fully Regulated OTC Desk
The newly introduced fully regulated Huobi OTC Desk is targeted at high net worth individuals and institutional investors.
Huobi Announces the Lauch of Its Fully Regulated OTC Desk

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Source: CoinSpeaker

Coincheck Adds XRP and Ethereum to Its OTC Trading Desk

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Coincheck Adds XRP and Ethereum to Its OTC Trading Desk
Coincheck, a Japanese cryptocurrency exchange has launched its Over-the-counter (OTC) trading desk wherein the platform is debuting XRP and ETH as the first altcoin listing.
Coincheck Adds XRP and Ethereum to Its OTC Trading Desk

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Source: CoinSpeaker

Ledger and Legacy Trust Join Forces to Provide Institutional Custody of ERC-20 Tokens

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Ledger and Legacy Trust Join Forces to Provide Institutional Custody of ERC-20 Tokens
Trust company Legacy Trust and hardware wallet maker Ledger will offer a new institutional-grade crypto custody solution called Ledger Vault.
Ledger and Legacy Trust Join Forces to Provide Institutional Custody of ERC-20 Tokens

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Source: CoinSpeaker

Huobi’s US Branch Forms New Team to Further Push Institutional Products Development

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Huobi’s US Branch Forms New Team to Further Push Institutional Products Development
Huobi’s branch HBUS will focus on introducing new services for institutional investors, such as token lending, over-the-counter (OTC) trading, and even issuing its own stablecoin. 
Huobi’s US Branch Forms New Team to Further Push Institutional Products Development

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Source: CoinSpeaker

Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

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Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

The over-the-counter branch of cryptocurrency exchange Huobi has announced adding support of XRP. XRP trading was launched on March 6.

Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

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Source: CoinSpeaker

Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

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Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

Crypto markets show a major recovery adding $10 billion on Tuesday with Bitcoin approaching $4000. EOS becomes the steals the show with over 20% gains.

Bitcoin Approaches Closer to $4,000, EOS Surges More Than 20%

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Source: CoinSpeaker

A Look at Some of the Biggest Stories: Evergreen Issue of Cybersecurity

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A Look at Some of the Biggest Stories: Evergreen Issue of Cybersecurity

After covering a few of the different ways that crypto technology is getting absorbed into the more traditional sectors of finance last week, now we’d like to examine a few emerging features and techs that can impact the trajectory of crypto development.

A Look at Some of the Biggest Stories: Evergreen Issue of Cybersecurity

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Source: CoinSpeaker

Bithumb Launches Its OTC Trading Desk to Further Target Institutional Investors

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Bithumb Launches Its OTC Trading Desk to Further Target Institutional Investors

Bithumb, South Korea’s largest Bitcoin exchange by trading volume, has launched an over-the-counter (OTC) trading platform that will allow deep-pocketed traders to exchange crypto assets off the books.

Bithumb Launches Its OTC Trading Desk to Further Target Institutional Investors

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Source: CoinSpeaker

Coinbase Forays Into Asia Targeting High Volume Businesses with New Trading Services

CoinSpeaker

Coinbase Forays Into Asia Targeting High Volume Businesses with New Trading Services

Now Coinbase will provide high-volume clients across the Asian region with its professional trading and custody services.

Coinbase Forays Into Asia Targeting High Volume Businesses with New Trading Services

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Source: CoinSpeaker

U.S. Crypto Exchange Bittrex Rolls Out OTC Trading Desk Supporting Nearly 200 Cryptos

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U.S. Crypto Exchange Bittrex Rolls Out OTC Trading Desk Supporting Nearly 200 Cryptos

U.S. cryptocurrency exchange Bittrex has announced the launch of its over-the-counter trading desk that will facilitate trading between two parties.

U.S. Crypto Exchange Bittrex Rolls Out OTC Trading Desk Supporting Nearly 200 Cryptos

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Source: CoinSpeaker

A Look Into Whether VanEck Bitcoin ETF Addresses Manipulation Concerns of SEC Chairman

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A Look Into Whether VanEck Bitcoin ETF Addresses Manipulation Concerns of SEC Chairman

With VanEck facilitating OTC trades for its Bitcoin ETF, there is a higher possibility that the SEC might approve its proposal.

A Look Into Whether VanEck Bitcoin ETF Addresses Manipulation Concerns of SEC Chairman

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Source: CoinSpeaker

Coinbase to launch agency-only Over-The-Counter trading after consistent client demand

Coinbase, the poster child for all cryptocurrency exchanges in the US, is launching an agency-only OTC [Over-The-Counter] trading in response to client demand. Coinbase’s Head of Coverage, Christine Sandler, spoke about the launch of the OTC business in an interview with Cheddar recently.
Sandler said that the OTC business would act as a compliment to the Coinbase’s exchange business and said that this could benefit clients who were seeking OTC as an on-ramp for cryptocurrency trading.
Sandler added:
“So we felt that this was a huge benefit to our clients, who can actually leverage both our exchange and our OTC business. So we’re agency only and we have plans to expand the service offering to offer things like delayed settlement and potentially integrating with our custody solution as well.”
She spoke about other institutions that provided the same services like Circle or Genesis and added that the timing was “opportunistic” and that they were just “reacting to their customer requirements”. She also stated that unlike others, they were “matching client orders”.
Sandler spoke about the new initiative of Coinbase custody for asset allocators and said that these asset allocators actually help attract potential partners. She continued:
“So we found that a lot of our institutional clients have opportunities where limited partners are coming in. So asset allocators are actually representing those potential partners…and help educate the limited partners for the benefit of our clients so they can attract those funds.”
Referring to the bear market that has been hanging around the crypto-verse, Sandler said that their “crypto first clients” were staying strong and committed and believed in the technology behind cryptocurrencies. Furthermore, she explained how the crypto-ecosystem has been flooded with volatility and has caused cryptocurrencies to move to the downside and added:
“There’s one small silver lining to this volatility…it is that crypto has been front and center of the mainstream financial media the last few weeks and I think that’s driven and forced a lot of institutions to think if this is an opportunistic investment point for crypto at this point.”
The post Coinbase to launch agency-only Over-The-Counter trading after consistent client demand appeared first on AMBCrypto.
Source: AMB Crypto