Japanese entertainment giant DMM plans to open cryptocurrency exchange platform

Japanese DMM announces plans of their own crypto exchange to open in January 2018
21 December 2017   1626

Earlier this year we reported on DMM opening the mining pool, and now they plan on entering the exchange market. The announcement goes to say about 7 available virtual currencies with 14 trading pairs and margin trading. The plan is to open the platform on the next month, particularly – 11th of January 2018.

Japanese e-commerce and entertainment giant DMM has revealed the exact details of the upcoming exchange platform – DMM Bitcoin. The platform will open on January 10 and will start accepting payments on January 11. It will replace their Tokyo Bitcoin Exchange Inc., which has been approved by authorities on December 1 and whose services has been halted as of now on account of renaming and upgrades.

The 7 supported from the start virtual currencies are Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Nem, Ripple and Litecoin. The trading pairs will consist of BTC/JPY, ETH/JPY and BTC/ETH. And 14 pairs will have leverage trading available for them.

The conceptual background is similar to DMM's up and running Foreign Exchange trading platform. Even the trading tools will be released for the same platforms – PC, Android and iOS. The withdrawals will be available in Japanese Yen, Bitcoin and Ether.

All of this furthers DMM's announced goal to enter cryproeconomy world, which is supported by their newly established virtual currency subsidiary and DMM Mining Farm, said to become one of the 10 largest mining farms in the world.

SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   100

The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission on maximum uses the allotted time, and February 27 will be the final date for the decision on this application.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.

Securities and Exchange Commision

According to representatives of the SEC, to date, the Commision has received more than 1600 comments on this application.

Despite this news, Bitcoin price hit another bottom - $3400 this time.