JVCEA May Release Voluntary Rules Soon

According to the report, recommendations will include a ban on insider crypto trading and penalties for employees of exchanges seen in this illegal activity
19 June 2018   860

Next week, the Japan Virtual Currency Exchanges Association (JVCEA) will unveil a new guide regarding crypto regulation. This is reported by Cointelegraph.

According to the publication, the recommendations will include a ban on insider crypto trading and penalties for employees of exchanges seen in this illegal activity.

Presumably, JVCEA will publish the paper on June 27.

Japan Virtual Currency Exchanges Association appeared in late April as a reaction to the Coincheck hack, as a result of which the site lost $ 533 million in the NEM cryptocurrency. Since then, the organization has monitored the activities of local trading platforms and ensures their safety.

Since June 18, Japan has officially banned anonymous cryptocurrencies.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.