Gemini Wants to Trade Crypto Securities

The broker-dealer license appeal will be sent to Financial Industry Regulatory Authority, but experts believe the plans implementation can take some time
03 July 2019   1325

Gemini Bitcoin Exchange will apply for a broker-dealer license, which will allow it to operate as an alternative trading system and offer clients securities on the blockchain. It is reported by CoinDesk.

The appeal will be sent to the Financial Industry Regulatory Authority (FINRA).

Gemini has previously entered into a partnership with Harbor, a startup specializing in real-world assets tokenization, which gives institutional investors the opportunity to purchase securities using Gemini Dollar (GUSD).

However, now, as source familiar with the operating activities of Gemini said, the exchange plans to launch trading in similar instruments on its own platform. It is assumed that this will be securities from Harbor, as well as from other projects.

Implementation of these plans, however, may take quite a long time, so FINRA is in no hurry to approve applications for obtaining a broker-dealer license from cryptocurrency companies. Currently, the organization is considering about 40 such applications, while some companies have been waiting for 14 months to complete.

In April, Harbor raised $ 28 million in funding from a number of venture capital investors, including Andreessen Horowitz and Pantera Capital. In November of the same year, the company launched a platform for distributing security tokens, starting with the sale of shares in The Hub residential complex in South Carolina.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   318

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.