Blockchain Market Update – January 25, 2019

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January 25, 2019 by
Blockchain Market Update – January 25, 2019

BitLicense: Stock trading startup Robinhood and Bitcoin ATM provider LibertyX have become latest companies to be granted New York’s BitLicense. New York Department of Financial Services announced that it was granting Robinhood Crypto, subsidiary of main firm, and Moon Inc., which does business under LibertyX moniker, virtual currency licenses, as well as money transmission license for Robinhood—Other

Malaysia: Executive director of Securities Commission Malaysia said at media briefing that SC will make restrictions on investment amount of various investors: retail investors can invest up to RM5,000; personal investors with assets exceeding RM3 million and stock investment experience can handle unlimited investment; ICO framework expected to be released in first quarter of 2019—Regulation

tZero: Security token trading platform officially begins trading. Company announced in a press release that its secondary market for tZERO’s own security tokens had gone live, marking the first step toward trading other digital assets on the platform. Accredited investors can sign up to trade tZERO tokens through Dinosaur Financial Group, LLC, which is acting as the “introducing,” or customer-facing, broker-dealer—Trading

Singapore: Singapore Payment Services Act has been passed by Congress. According to act, it covers all relevant institutions that have actual operations in Singapore market, and not only limited to institutions registered in Singapore. Threshold for electronic money protected by new act will be reduced from $30 million Singapore dollars to $5 million Singapore dollars, which means that if daily average floating amount exceeds $5 million Singapore dollars, any electronic money held by payment institutions will be fully protected—Regulation

IMF: International Monetary Fund has judged that growth of blockchain in Malta has created significant risks of money laundering and terrorism financing in the island’s economy. Cautioned Malta to ensure its local authorities bring crypto service providers into line with AML requirements. Advocated for intensified and immediate action to close loopholes in supervisory and enforcement systems—Regulation

Huobi: According to recent report by Sporbiz, cryptocurrency exchange raked in total of $483 million USD in commissions throughout 2018. Report suggests this is more than commissions earned by Binance, which raked in $462 million, and OKEx at $292 million—Exchange

Galaxy Digital: Raising at least $250 million for credit fund to offer US dollar loans to crypto firms. Galaxy will be offering loans to crypto companies and asking for cryptocurrency assets, properties, and even machines that mine cryptocurrencies as collateral. The firm will close a first round of fundraising in March—Project Development

Samsung: Images of new Galaxy S10 model equipped with native Bitcoin wallet was leaked by Twitter user “Gregory Blake”. Image content shows that Galaxy S10 has a crypto wallet function and will support ETH. In the picture, the features of the phone seem to show that the phone is the Galaxy S10, but it is still to be verified. Samsung has dismissed Galaxy S10 crypto wallet reports as “rumor and speculation” —Project Development

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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