Bitfinex enables IOTA deposits and withdrawals

Bitfinex exchange launches deposits and withdrawals for IOTA
11 August

One of the leading cryptocurrency exchanges, Bitfinex, announces the launch of IOTA deposits and withdrawals.

It's worth mentioning that it was Bitfinex that officially launched the IOTA token, IOT, about two months ago. This launch represented a milestone for IOTA as they expanded their user base significantly. 

Exchange listing is something that has become a hallmark for all crypto projects. It represents that the technology is ready for the open market and the wider audience.
 

David Sønstebø 
IOTA founder

Thus, with the launch of IOT token, the transaction volume became so massive that the Bitfinex servers briefly went down. All in all, IOTA Token has hit $1.5 billion market cap.

Ar the time of writing, IOTA's market cap is about $1.8 billion and the cryptocurrency holds the seventh position in the list.

IOTA market cap on coinmarketcap.com IOTA market cap on coinmarketcap.com

Gibraltar launches license for firms using blockchain

The license would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments
14 December

The Gibraltar Financial Services Commission (GFSC) will introduce the world’s first bespoke license for fintech firms using blockchain technology from next month in in attempt to attract start-ups.

The license is the first of its kind and would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments, paving the way for broader adoption.

This is the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology.

 

Nicky Gomez

The head of risk and innovation, GFSC

GFSC will publish guidance on Friday for applying its new law for firms that use blockchain to “transmit or store” cash and assets belonging to others - much in the same way as a bank is authorized.

According to Nicky Gomez, Gibraltar expects firms numbering well into “double digits” to seek authorization after the new rules come into force on January 1. Firms will have to treat customers fairly, and must have adequate IT systems and controls to comply with anti-money laundering and terrorist financing rules.