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Bank of England Adviser: Cryptocurrencies Fail Basic Financial Tests, Lack Value

Senior adviser to Bank of England Governor Mark Carney said that cryptocurrencies are slow, lack value and fail basic financial tests. Huw van Steenis, senior adviser to Bank of England’s (BOE) Governor Mark Carney, told Bloomberg in an interview Monday, Jan. 21, that cryptocurrencies fail fundamental financial tests. Van Steenis joined BOE in 2018, having previously worked at Schroders and Morgan Stanley. He is currently heading a review of the future of finance, according to Bloomberg. When asked about crypto’s potential to become a threat to economic stability, van Steenis said: “I’m not so worried about cryptocurrencies. They fail the basic tests of financial services. They’re not a great unit of exchange, they don’t hold value, and they’re slower.” Van Steenis noted that registering new entrants into the banking system, especially technology firms, is one of the major challenges for BOE. He also stressed that traditional banks are slow when it comes to adopting new technologies. ..

Coinbase Launches Full Trading of Basic Attention Token

U.S.-based cryptocurrency exchange Coinbase has launched full trading for the Basic Attention Token at Coinbase.com, as well as on the Coinbase Android and iOS apps. American cryptocurrency exchange and wallet provider Coinbase has announced the rollout of full trading of the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps, per a blog post published Nov. 8. According to the announcement, Coinbase’s customers can now buy, sell, send, receive, or store BAT along with other digital currencies supported on the platform. The exchange also notes that BAT will be available for customers in most jurisdictions, except initially for residents of the state of New York. Coinbase announced that it started accepting inbound transfers of BAT to Coinbase Pro last week, indicating that BAT trading would only start once the coin established sufficient liquidity. The exchange stipulated that the token would undergo four listing stages, including “transfer-only,” wher..

Coinbase Launches Support for Basic Attention Token (BAT)

Crypto exchange Coinbase has added support for the BAT token on its Coinbase Pro platform. Major U.S. cryptocurrency exchange Coinbase has announced it is accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro, according to a blog post published Nov. 2. Coinbase added support for BAT tokens on its Coinbase Pro platform, while it will enable trading on the BAT/USD order book only when sufficient liquidity is established. Coinbase notes that BAT trading will be available in most jurisdictions, except for residents of the state of New York. BAT is not currently available on the exchange’s platform Coinbase.com and in its iOS and Android applications. Per the post, the BAT trading will go through four stages, including “transfer-only,” where users will be able to transfer BAT into Coinbase Pro accounts, “post-only,” which will enable customers to post limit orders. The other two stages include “limit-only,” where limit orders start matching, and the final stage “full t..
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