BitFlyer Gets License to Operate in Europe

The PI licence was granted by Luxembourg's financial watchdog and the company will be based at the Luxembourg House of Financial Technology Foundation
23 January 2018   2174

BitFlyer, one of the world’s first cryptocurrency trading platforms, announced on Tuesday it has been granted a payment-institution license to operate in the European Union.

The PI licence was granted by Luxembourg's financial watchdog, the Commission de Surveillance du Secteur Financier (CSSF), and the company will be based at the Luxembourg House of Financial Technology Foundation (LHoFT).

BitFlyer is the most compliant virtual currency exchange in the world. Approved regulatory status is fundamental to the long-term future of bitcoin and the virtual currency industry.

 

Yuzo Kano

CEO, BitFlyer

Luxembourg's finance minister, Pierre Gramegna, said he was delighted that "one of the most successful Japanese startups chose Luxembourg as their EU platform".

BitFlyer also announced it will offer euro-denominated bitcoins and the company is planning to add support for other cryptocurrencies including Litecoin, Ethereum, Ethereum Classic and Bitcoin Cash later in the year.

BTC Volatility to Fall by 98% in a Year

Analyst believe that low volatility indicates a decline in speculative trading 
18 January 2019   89

Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, it was $ 3,468, then a year later - only $ 61, CoinDesk reports.

Note, the daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was about 26%.

In absolute terms, the maximum daily volatility in the first quarter was $ 973, and in the following: $ 345, $ 245 and $ 195, respectively.

At the beginning of 2019, this figure also did not exceed $ 200, and on January 12 it reached a minimum value of $ 45.17.

Analyst stressed that low volatility indicates a decline in speculative trading and an approach to a sharp price movement.

In his opinion, Bitcoin will soon leave the range of $ 3,500- $ 3,700 in favor of the bears. At the moment, the first cryptocurrency is trading at around $ 3,590.