Bitstamp to add support for Bitcoin Cash

Bitstamp crypto exchange to add support for Bitcoin Cash by the end of September
16 September 2017   1156

One of the biggest cryptocurrency exchanges, Bitstamp, has announced adding Bitcoin Cash trading pairs by the end of September, 2017.

According to the exchange's team, the company decided to add support for Bitcoin Cash in response to “high levels of customer demand.” Exchange users who had Bitcoin balances at the time of the August 1st hard fork will receive their air-dropped coins in their platform wallet.

Furthermore, there will be the following trading pairs available: BCH/BTC, BCH/USD, BCH/EUR

It's also noteworthy that the cryptocurrency exchange have been supporting only two cryptocurrencies for long time: Bitcoin and XRP. Within the past few months, Bitstamp has added Litecoin and Ethereum pairs.

Bitcoin Cash on coinmarketcap.com Bitcoin Cash on coinmarketcap.com

At the time of writing, Bitcoin Cash price is about $446.44, its market capitalization is $7,403,565,326, and the cryptocurrency is holding the third position on the list on coinmarketcap.com.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   35

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.