Croatia Now Has Its Own Self-regulating Body for Blockchain and Crypto

Croatia becomes the third country with its own self-regulating body for blockchain and cryptocurrency  
19 February 2018   694

A company known as UBIK becomes Croatia’s self-regulating body. It will also work regulating this industry in the coming years.

Croatia is not usually associated with blockchain and cryptocurrencies. UBIK was created to improve this situation. UBIK’s goal is to spread cryptocurrency and blockchain awareness first and foremost.

This organization was registered on February 13. It began operations after receiving approval on February 17. At the moment, the organization was joined by at least 70 members, which confirm a growing interest in cryptocurrency and blockchain technology.

UBIK also wants to focus on a regulatory framework for ICOs. Representatives of UBIK had a meeting with officials from the Central Office of Tax Administration. They discussed crypto taxation. Yet it is unclear how they plan to do so exactly.

It seems that this self-regulating body is supported by the government. The Croatian government has not taken an official stance against these technologies.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   110

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.