BTC Sales Thru Cash App to Rise by 245% in a Year

Cash app is developed by the Square Inc, run by the Twitter creator; it allows you to send money and trade Bitcoin
07 November 2019   182

In the third quarter, Square’s Bitcoin sales through Square’s Cash App reached a record $ 148 million. This is 245% more than a year earlier and 20% higher than the second quarter.

In a letter to investors, the company noted that the number of Bitcoin buyers "doubled for the first time."

The profit remained at the level of the second quarter - $ 2 million, and the total revenue from the Cash App in the quarter - $ 307 million.

MAS May Allow BTC Derivatives to Approved Desks

The Singapore watchdog's initiative is related to interest in this type of assets of hedge funds and institutional investors
21 November 2019   86

Listing and turnover of cryptocurrency derivatives in Singapore may be allowed on regulated exchanges. This was stated by the country's Monetary Authority (MAS), writes Bloomberg.

The regulator's initiative is related to interest in this type of assets of hedge funds and institutional investors.

So far, according to the law of the country, payment tokens - these include bitcoin and ether - are not assets that can form the basis of regulated derivative financial instruments.

As reported, under the proposal, trading of derivatives on common cryptocurrencies such as Bitcoin and Ether will be subject to the Securities and Futures Act, the Monetary Authority of Singapore said Wednesday in a statement. The plans are in response to interest from hedge funds and asset managers that trade such products. 

Legal sites in Singapore include the Asia-Pacific Exchange, ICE Futures Singapore, the Singapore Derivative Exchange and the Singapore Stock Exchange.

The Central Bank hopes that this initiative will satisfy the need of large investors in managing their payment tokens under state control.

At the same time, MAS emphasized that derivatives of payment tokens are not a suitable financial instrument for retail investors due to high volatility.