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   580

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 Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   121

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission