Blockchain Market Update – March 4, 2019

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March 4, 2019 by
Blockchain Market Update – March 4, 2019

CircleSeeking to raise about $250M in combination of equity and debt. If successful, Circle would be latest in series of cryptocurrency firms to raise money as they grapple with impact of crypto market crash. To date, Circle has raised $246 million from investors that include Goldman Sachs, Baidu of China and IDG Capital—Other

Fusang GroupHong Kong-based company announced receipt of approval for Securities Exchange licence from Labuan International Business and Finance Centre, based in Malaysia. Fusang Exchange claims to be first fully-licenced Asian securities exchange focused on digital assets—Exchange

Hong KongHong Kong Monetary Authority will announce number of virtual banking licences within weeks, which about 30 institutions applied for. It is likely Hong Kong will license six operators of virtual banks, as well as Tenpay of Tencent, Ant Financial of Alibaba, Xiaomi, Standard Chartered, Hong Kong Telecom, ZhongAn Online, and China CITIC Bank—Regulation

IMFInternational Monetary Fund has said that Malta Financial Services Authority has critical gaps in its supervision for anti-money laundering and combating financing of terrorism. IMF has called for “urgent action” to address shortcomings in banking supervision by MFSA—Regulation

BinanceCurrently in testing of Binance DEX. As reward for its testnet trading competition, will give away roughly $100K in BNB—Exchange

Federal ReserveCould soon include cryptocurrency market crash as one of risks to take into account when conducting supervisory stress tests. Fed’s board of governors meeting announced amendments to a policy statement on scenario design framework for stress testing, saying that “the collapse of the Bitcoin market” may be considered as one of the “salient” market risks—Regulation

BloombergReports companies in crypto industry still have difficulties opening bank accounts, as most banks find the compliance requirements to serve crypto businesses takes a lot of resources. While larger banks steer clear of serving companies involved in crypto, smaller ones are trying to establish themselves in subset of market—Financial Institution

ThailandSEC may ask crypto exchanges to report transactions data and related information to create a digital asset business database. These may be done to realize same transparency and supervision of crypto exchanges as SEC does with traditional exchanges—Regulation

IndiaGov’t of India confirm with Indian Supreme Court that drafts of proposed crypto regulation is in final stages of deliberations. Court plans to hear petitions against banking ban by Central Bank after the govt produces the crypto regulation—Regulation

“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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