DMM Bitcoin Exchange Opened

The exchange began trading on Thursday January 11
12 January 2018   1079

DMM Group, Japanese internet and entertainment conglomerate has launched a cryptocurrency exchange under the brand name DMM Bitcoin. The platform began trading on Thursday January 11.

DMM Bitcoin Exchange

The platform supports bitcoin, litecoin, ethereum, ethereum classic, nem, bitcoin cash and ripple. Fourteen currency pairs are available for trading. In addition to the 7 coins trading for yen, 7 crypto-to-crypto trading pairs are offered:

  • ETH/BTC,
  • ETC/ETH,
  • XEM/BTC,
  • XRP/BTC,
  • LTC/BTC,
  • ETC/BTC,
  • BCH/BTC.

The exchange is giving away 1,000 yen (~$US9) to all customers who open a new account during the campaign period between January 11 to March 11.

According to DMM’s announcement, the exchange is using a trading platform provided by Simplex Inc. called “Simplex Cryptocurrency.” This platform offers trading tools for general investors, business management systems, and a dealing system.

In addition, Next Currency Inc, a branch of DMM Group, is launching a new cryptocurrency exchange called Cointap.

Cointap Exchange

The company added that Cointap will be tailored for investors entering the market for the first time.

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   128

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.