Coinbase Received Licence for EU Operation

This is Coinbase's response to the constantly growing demand for services in these regions
14 March 2018   1526

The Financial Conduct Authority of Great Britain (FCA) issued a license for operations with electronic money (E-money) to the largest US crypto exchange Coinbase. Now the site has the right to provide payment services in the country and issue digital alternatives to cash that can be used to make electronic, telephone and Internet payments. This is reported by CoinDesk.

However, as stressed in Coinbase, "electronic money" is not crypto currency. Therefore, the license implies a more stringent regulation aimed at protecting consumers.

We are committed to making sure customer funds are always secure and this update means that our e-money operations have safeguards and operational standards at par with other regulated financial institutions. An example of this is segregation of client funds, where all customer fiat balances will be separated from Coinbase's funds and kept in separate bank accounts.

Coinbase Team

It is noteworthy that, nominally, the FCA license allows Coinbase to work in 23 EU countries, but it is unclear whether this will affect the likely exit of the UK from the EU.

In Coinbase noted that the company can trade inside the union up to the so-called Brexit, but if the relevant rules lose force after the release of the UK, the site will need to suspend its activities in the relevant territories until an updated license is received.

In addition to the E-money license, Coinbase announced the accession to the British initiative Faster Payments Scheme, designed to increase the efficiency of bank transfers for residents of the country.

Access to the markets of the UK and Europe was Coinbase's response to the constantly growing demand for services in these regions. The company also plans to increase the staff of its London branch by eight times.

Coinbase to be Ranked 1st at New CryptoCompare's Rate

New exchange's benchmark is designed to combat fake trading volume on unregulated exchanges
13 June 2019   199

Analytical service CryptoCompare has launched a rating system for more than 100 platforms for the spot cryptocurrency trading. According to service representatives, it should be a comprehensive, detailed and reliable source of information, and meet the industry’s demand for data transparency.

CryptoCompare combined methods of quantitative and qualitative analysis. The system does not take into account the total trading volume, but the ratio of volume and volatility in combination with the standard deviation of volumes based on more than 30 metrics. In theory, this will help to deal with the problem of fake trading volume on unregulated exchanges.

After analyzing the data for May, the service assigned the first place to the Coinbase, and the top three were closed by Poloniex and Bitstamp. Top 10 also includes BitFlyer, Liquid, itBit, Kraken, Binance, Gemini and Bithumb.

It is noteworthy that this rating is somewhat different from the list of trusted exchanges of Bitwise Asset Management, which in March reported to the US Securities and Exchange Commission (SEC) about the problem of fake trades. Thus, Bitwise considers Bittrex and Bitfinex to be reliable, but they are not in the top ten from CryptoCompare - instead of them, South Korean Bithumb, which was hacked twice during the year, and Liquid, which announced the upcoming listing of tokens Gram, which supposedly don't know anything about in Telegram .