LMAX to Launch Exchange For Institutional Investors

British tradinng company opens exchange for institutional investors in response to requests from clients wishing to access cryptocurrencies
22 May 2018   1022

British trading company LMAX opens a cryptocurrency exchange for institutional investors,  Business Insider reports.

LMAX Digital was opened in response to requests from LMAX customers wishing to access cryptocurrencies. Users of the new site will be able to trade bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash 24 hours a day, 7 days a week.

We are furthering the legitimization of the cryptocurrency market by offering institutions a platform on which to acquire, trade, and hold cryptocurrencies securely with high quality, deep liquidity.
 

David Mercer

CEO, LMAX Exchange

The exchange will offer a service for storing cryptocurrency, thus solving one of the main problems of large investors in this market.

LMAX Exchange was founded in 2010 as a trading platform with support for a variety of assets and has since processed transactions for $ 10 trillion.

We've applied everything we've learned in the institutional FX market to LMAX Digital, to create a fundamentally improved, secure digital exchange based on our proven trading technology, market-leading liquidity, and transparent and precise execution.
 

David Mercer

CEO, LMAX Exchange

Initially, LMAX Digital will work from London, but in the future the company plans to locate its data centers in New York and Tokyo in order to improve the quality of service for investors in these regions.

ETH May Become Security After POS Migration,- CFTC

At the moment, according to the head of CFTC, Ethereum is more likely an exchange commodity rather than a security, but it may change 
14 November 2019   142

The head of the Commission for derivatives trading (CFTC) Heath Tarbert expressed the opinion that cryptocurrencies involved in the cryptocurrency using the Proof-of-Stake algorithm can be considered as securities. It is reported by Decrypt.

Earlier, the head of the CFTC said that in its current form, Ethereum is more likely an exchange commodity rather than a security. However, I am sure Tarbert, over time, the status of an asset may change. For example, a security can become a commodity and vice versa.

We are thinking carefully about it.
 

Heath Tarbert

Chairman, U.S. Commodity Futures Trading Commission

The popular Proof-of-Stake (PoS) algorithm involves the use of “stake” as a resource that determines which particular node receives the right to mine the next block. Higher chances to generate the next block are received by the node with greater balance.

Recently, staking services that promise customers a return on investment in PoS assets have become popular. According to some experts, these services could potentially violate the provisions of the Howie test, such as having a joint venture, as well as an investment contract involving two parties.

At the same time, Tarbert spoke out against an aggressive approach to regulating cryptocurrencies, which could suppress innovation and hinder the strengthening of the US position in the innovation sphere.

Clarity and consistency is the first step to leadership.
 

Heath Tarbert

Chairman, U.S. Commodity Futures Trading Commission

Earlier, Heath Tarbert expressed the view that regulated futures based on Ethereum will soon appear on the market.