GDAX may pause BTC trading

GDAX exchange announces its plans for August the 1st, 2017
14 July 2017   2739
Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

The countdown towards the most important day in Bitcoin’s history so far has begun. On August the 1st, it will be decided what way Bitcoin chooses and what the future has in stock for it.

On this day, the Bitcoin User Activated Soft Fork (UASF) is to be activated. The UASF is intended to address scaling issues faced by the Bitcoin network by accelerating the adoption of Segregated Witness. 

It goes without saying that processes as significant as this one may pose a considerable threat to the exchange's stability. That's why one of the most popular exchanges GDAX is considering Bitcoin trade suspension the day UASF to be launched. 

GDAX on Twitter  GDAX on Twitter 

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

There are two possible outcomes expected ones UASF is activated: 

  • One blockchain becomes dominant, resulting in the other blockchain having low community adoption and value.
  • Both blockchains are adopted, co-existing and operating independently of one another with roughly equal community adoption and value.

As Adam White, GM of GDAX, reports, in either scenario GDAX is planning to implement safeguards to ensure the safety of the customers’ funds. Thus, the exchange will temporarily suspend the deposit and withdrawal of bitcoin on GDAX and may pause the trading of bitcoin as well.

This decision will be based on our assessment of the technical risks posed by the fork, such as replay attacks and other factors that could create network instability.
 

Adam White
GM of GDAX

It is also being underlined that GDAX will continue supporting the growth and scaling of the Bitcoin network.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   109

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.