Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   664

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.

Disney May Become Bitstamp & Korbit Owner

If the deal for $ 13.2 b will take place, Disney will become the owner of old exchanges
24 April 2019   294

Leading European crypto exchange Bitstamp and South Korean Korbit can become the property of The Walt Disney Company, one of the largest conglomerates of the entertainment industry. It is reported by Bitcoinist, with reference to the Korea Herald.

Currently, Disney is one of the main contenders for a 98.6% share of the largest South Korean game maker Nexon. The latter is one of the key assets of the company NXC, which also owns the exchanges Bitstamp and Korbit.

Thus, if the deal for $ 13.2 billion will take place, Disney will become the owner of a European exchange with a long history, which, according to some data, the investment division of NXC acquired a year ago for $ 350 million. At the same time, Nexon owns 65.19% of the oldest South Korean crypto-exchange Korbit.

Note that Disney has long been interested in blockchain technology. So, back in 2016, the corporation introduced Dragonchain’s own hybrid blockchain, designed to improve the efficiency of business applications and make them safer.