Binance to Edit BNB Whitepaper Quitely

As reported, mention that the exchange allocates 20% of quarterly profit for the re-purchase of BNB and subsequent destruction was deleted from the document
19 April 2019   373

Binance made changes to the white paper Binance Coin (BNB) regarding the operational burning of coins. So, the mention that the site allocates 20% of quarterly profit for the re-purchase of BNB and subsequent destruction was deleted from the document. This is reported by The Block.

Changes in BNB Whitepaper
Changes in BNB Whitepaper

Changphen Zhao said that in fact Binance does not buy tokens on the market, but simply burns BNB [probably from reserves]. In his opinion, the mention of the term “profit” in this part of the document brought the BNB closer to the definition of a security, which the exchange seeks to avoid.

At the same time, the press secretary of Binance stressed that the exchange would continue to burn tokens in an amount equivalent to 20% of the company's quarterly profits.

Nevertheless, according to The Block, a legal expert, it is not enough just to remove any formulations from white paper or replace them so that the regulatory analysis shows that the token is not a security.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   172

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.