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Coinbase Reinstates Full GBP Support for UK Clients

U.S.-based crypto exchange Coinbase reinstates GBP transfers for its United Kingdom customers. United States-based crypto exchange Coinbase has reinstated GBP transfers for its United Kingdom customers, according to an official announcement on Oct. 3. Coinbase has also added full support for five new crypto assets — Basic Attention Token (BAT), 0x (ZRX), Augur (REP), Stellar (XLM) and XRP — to GBP wallets, the exchange revealed the same day. Clearbank is reportedly Coinbase’s new banking partnerCoinbase had initially rolled out GBP support in 2018 after being granted an e-money license for fiat currency operations from the U.K.’s Financial Conduct Authority. In parallel, it gained access to the UK’s Faster Payments Scheme (FPS) by opening an account at London-based banking giant Barclays. One year later, Barclays reportedly severed its relationship with the exchange, leaving U.K. Coinbase clients waiting days to process their GBP deposits and withdrawals. Reinstated GBP support alleg..

Circle Expands to Bermuda to Offer New Services to Non-US Clients

Circle has launched a new subsidiary in Bermuda to serve non-American Poloniex customers, stressing U.S. regulatory limitations. Major crypto payments firm Circle will launch a new subsidiary in Bermuda in order to serve non-American customers of its trading platform Poloniex. In a blog post on July 22, Circle said that it has acquired a full license to offer crypto-related services under Bermuda’s Digital Assets Business Act of 2018, a major local regulatory framework for cryptocurrencies that was introduced in July 2018. Many Circle services will be unavailable in the U.S. due to regulatory limitationsAs a part of the expansion to Bermuda, Circle plans to offer an array of new crypto-related services, including advanced trading products and new crypto asset listings, the firm said in the announcement. However, many of those new services will not be available in the United States, Circle emphasized, citing U.S. regulatory limitations. The company added that they are still committed t..

Brazilian BTC Exchange Faces Numerous Lawsuits From Clients Unable to Access...

Bitcoin Bank Group faces numerous lawsuits from customers unable to withdraw funds from its cryptocurrency exchange, BBG claims delays are due to malicious activity. Clientele from multiple states in Brazil have filed lawsuits against bitcoin (BTC) investments firm Bitcoin Bank Group for inaccessible crypto funds, according to a report by Cointelegraph Brasil on June 18. The lawsuits are reportedly over issues with users being unable to withdraw funds from the BBG’s associated cryptocurrency exchange, Paraná-based NegocieCoins. As of press time, the page for NegocieCoins on crypto market information website CoinMarketCap shows the following message regarding the ongoing issue: “We have received reports that user deposits and withdrawals are impeded. Please be careful with your funds.” Some customers unable to withdraw their funds are attempting to liquidate these assets at a steep discount, offering to sell their frozen BTC on social media platforms for up to 90% off. Numerous lawsuit..

XRP Strikes Another Win As Five RippleNet Clients Prepare To Use...

The entire cryptocurrency market is currently bleeding out. However, before almost every coin started falling against the USD, XRP was already stuck in a descending trendline. The XRP price prediction 2019, which has been bullish for a while now, suddenly became bearish because of the negative XRP news about the XRP technical analysis. The fall in the price of XRP was especially surprising because it is not in line with the XRP news development. Irrespective of the current price action of XRP, Ripple is making waves per adoption. It recently announced that 5 RippleNet clients will soon start sourcing liquidity with XRP. This move is expected to boost the XRP price prediction 2019 but with the current market trend, there is no way to determine what the effect will be short-term. XRP News Today – XRP Price Prediction 2019 – Ripple News – Source Liquidity With XRP In its first quarter report, Ripple revealed that five of the clients on the RippleNet platform will be leveraging XRP for on..

Bakkt Delay Due to CFTC Concerns Over Its Planned Custody of...

The CFTC’s delay in issuing Bakkt an approval for its Bitcoin futures is in part due to the fact that Bakkt wanted to hold clients’ funds, according to WSJ sources. Much-anticipated crypto platform Bakkt’s plans to store customers’ Bitcoin (BTC) from its Bitcoin futures could cause further delay on obtaining approval from United States regulator the Commodity Futures Trading Commission (CFTC). The news was reported by the Wall Street Journal (WSJ) on March 21, citing anonymous sources. When Bakkt was first announced back in August, the platform had revealed that its first product would be Bitcoin futures that are physically delivered daily, subject to CFTC approval. Bakkt also said that it planned to hold Bitcoin on behalf of its clients via its “physical warehousing.” According to “people familiar with the matter,” in February, the CFTC told the platform that if it were to have custody over its customers’ crypto, it would have to take additional steps to comply. In particular, the CF..

Australia: Clients Take Crypto Fund Manager to Court, Cite $14.2 Million...

Cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over alleged losses. The founder of what reportedly claims to be Australia’s first online mattress retailer OzMattress and cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over the loss of over AUD$20 million ($14.2 million). Daily Australian newspaper The Age reported about the controversy on March 19. Per the report, Papanastasiou told his clients in 2017 that he had spent half a million Australian dollars ($355,000) to develop an algorithm that delivers substantial returns through the trading of Bitcoin (BTC) and Ethereum (ETH)-based tokens. According to the claim filed by property developer Savvas Alexiadis, one of his clients, Papanastasiou owes him more than AUD$2.7 million (nearly $2 million). The documents filed with the Supreme Court of Victoria state that Alexiadis transferred over AUD$2.1 million (nearly $1.5 million) into a Papa..

Fidelity’s Digital Asset Platform Goes Live With Select Clients

The digital currency wing of financial services giant Fidelity, Fidelity Digital Assets, is now live with a select group of clients. Fidelity Digital Assets, the digital currency wing of United States financial services giant Fidelity, is now live with a select group of clients, the firm announced on March 8. In a tweet, the firm wrote: “We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors.” Fidelity had previously announced at the end of January that the platform was in its final testing stages of its new digital asset service. The company had stated that, since its initial announcement in October 2018, it has been developing its platform to meet institutional trading and custody standards, as well as regulatory requirements. Also in January, anonymous sources had noted that Fidelity’s Bitcoin (BTC) custody offering would go l..

Swiss Banking Giant Julius Baer to Offer Its Clients Crypto Asset...

Swiss bank Julius Baer plans to provide its client with access to digital asset services, following a partnership with crypto bank Seba. Swiss bank Julius Baer plans to provide its client access to digital asset services, following a partnership with crypto bank startup Seba Crypto, a press release from Julius Baer reveals on Feb. 26. The partnership will come into effect when Seba is granted a securities dealer and banking license by the Swiss Financial Market Supervisory Authority, the press release notes. The Swiss bank will then begin offering digital asset storage, transaction and investment solutions in partnership with the crypto startup. The announcement also discloses that the banking giant has been a minority shareholder of Seba since last year. According to a press release from Seba, the election of Peter Gerlach, Head Markets at Julius Baer bank, to Seba’s Board of Directors will be proposed to the company’s shareholders on March 20. Gerlach was quoted in the announcement ..

Bitcoin, Altcoins Are Vulnerable to New Lows, Fundstrat Warns Clients

The investment firm forecasts trouble from cryptocurrencies based on current short-term trends. Cryptocurrency markets could soon hit lower lows and continue their record bear market, investment and analysis firm Fundstrat Global Advisors warned in an email quoted by Bloomberg on Feb. 6. Writing to traders, one strategist at the firm, Robert Sluymer, forecast that on the basis of current performance, there was a chance Bitcoin (BTC) and altcoin prices could dip further. BTC/USD has fallen around 2.2 percent over the past week to trade at $3,370 as of press time Thursday, as many altcoins have seen bigger drops. Sluymer said: “The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.” Fundstrat is known within the cryptocurrency space for providing some of the more upbeat narratives on the future of Bitcoin in particular. Enthusiasm appeared to wane in recent months, however, with popular senior Fundstrat strategist Tom Lee ..

Israel’s Top Cargo Shipping Firm Zim Opens Blockchain Platform to All...

Israel’s largest cargo shipping company Zim has opened its blockchain platform to all clients in select trades, following a successful pilot. Israel’s largest cargo shipping company Zim has opened its blockchain platform for electronic bills of lading (eB/Ls) to all clients in selected trades. Global shipping news outlet TradeWinds reported the news today, Jan. 14. Following a successful pilot of its blockchain-powered eB/Ls platform that lasted for over a year, the shipping firm has claimed that blockchain can not only replace the currently existing paper-based processes, but also improve the workflow conducted via email, fax, and other channels. According to TradeWinds’ report, two recent transactions on the platform were successfully conducted in less than two hours each — as opposed to multiple days or weeks that the process usually takes — with electronic bills of lading being delivered via the blockchain-based system. As part of Zim’s new initiative, blockchain-based trades will..
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