Circle Buys Poloniex Cryptocurrency Exchange

Circle, a cryptocurrency-focused financial-services firm, announced today that it is buying crypto exchange Poloniex
26 February 2018   1646

Circle, Goldman Sachs-backed payments company, has aсquired U.S. cryptocurrency exchange Poloniex in order to extend its commitment to a new vision for global finance.

Boston-based Circle operates its app-based peer-to-peer payment network using blockchain, the technology which first emerged as the system underpinning cryptocurrency bitcoin. It is also one of the leading players in the over-the-counter market for bitcoin trading.
One of the most well-funded blockchain startups, its investors include Goldman Sachs Group Inc and Baidu Inc.

Circle expects to grow the Poloniex platform beyond its current incarnation as an exchange for only crypto assets. The company envisions a robust multi-sided distributed marketplace that can host tokens which represent everything of value: physical goods, fundraising and equity, real estate, creative productions such as works of art, music and literature, service leases and time-based rentals, credit, futures, and more.

We have recently reported that the Chinese bitcoin-giant BTCC was bought by an unnamed investment fund from Hong Kong.

US Congressman to Call for Crypto Ban

As reported, Brad Sherman has called for a blanket ban on cryptocurrency buying
19 July 2018   77

American authorities should ban cryptocurrencies and mining. Such a statement on was made by Congressman Brad Sherman during the hearings of the Committee on Financial Services at the US House of Representatives, CoinDesk reports.

According to Sherman, in the future, cryptocurrencies may become a form of money, but at the moment they are used either by rogue states to bypass American sanctions or by individuals to evade taxes.

We should prohibit U.S. persons from buying or mining cryptocurrencies.
 

Brad Sherman

Congressman, US

At the same time, Norbert Mitchel, director of the Data Analysis Center of the Heritage Foundation, noted that the possible use of crypto-currency for criminal purposes should not stain other possibilities of digital currencies.

Yes it is true that criminals have used bitcoin, but it's also true that criminals have used airplanes, computers and automobiles. We shouldn't criminalize any of those instruments simply because criminals used them. Those components I believe are the main barriers to widespread adoption in the U.S.
 

Norbert Mitchel

Director of the Data Analysis Center, Heritage Foundation

As Eswar Prasad, senior professor at Cornell University, said, the existence of cryptocurrencies had the potential to impact the financial services system, particularly the payments system, in positive ways.