Citigroup to Develop New Way fo Crypto Trading

The reaction of the SEC to the possible release of a new instrument is yet to be foreseen
10 September 2018   485

One of the largest banking conglomerates of the USA, Citigroup intends to issue receipts for digital assets that will allow customers to trade crypto-currencies without owning them directly. The new tool complies with the existing legal norms, the sources of Business Insider note.

A new kind of receipts should work on the principle of American depositary receipts, allowing investors to trade in securities baskets that are not represented on American markets. In this case, the cryptocurrencies themselves will be kept by a separate custodian.

The reaction of the Securities and Exchange Commission (SEC) to the possible release of a new instrument is yet to be foreseen, since exchange products based on cryptocurrencies do not cause the agency to have warm feelings, as evidenced by repeated refusals to open bitcoin-ETF and the recent decision to suspend trades tied to the dollar with exchange notes from the XBT Provider.

Earlier, IT giant IBM, conglomerates of Barclays and Citi announced the creation of a banking-oriented store for blockchainapplications LedgerConnect.

OKEx & Kraken to List Bitcoin SV

Kraken notes that Bitcoin SV doesn't meet its usual listing requirements
19 November 2018   51

OKEx Bitcoin exchange, charged holders of Bitcoin Cash with BCHABC and BCHSV coins. Bidding for each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.

Note that futures, margin trading and fiat pairs will remain unavailable for new assets. The withdrawal of coins is also closed indefinitely.

In turn, the Kraken exchange assigned the BCH ticker to the Bitcoin ABC chain, but also made a decision on the listing of Bitcoin SV (BSV).

WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of:

  • No known wallets supporting replay protection (be careful!)
  • No support in major block explorers
  • Miners apparently subsidized or operating at a loss
  • Representatives threatening and openly hostile toward other chains
  • Chain’s survival may be mutually exclusive with other chains
  • Supply is temporarily constrained because of limited wallet support
  • Some large holders have indicated they’d be dumping everything ASAP
  • Kraken has done only very minimal code review

Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.

Kraken Team

BSV trading will be available in pairs with Bitcoin, fiat USD and Euro.

Meanwhile, the BSV rate in the last 24 hours fell by almost 30%, dropping below $ 90.