Lottery Winner to Invest $178k in BTC

The investment was made in May 2019, so, the profit exceeded $100k, but he's not going 
06 November 2019   164

An Illinois resident won $ 500,000 in a lottery and invested half in bitcoins in May. The first cryptocurrency since then has risen in price by almost 65%.

Reddit user with the nickname joxnlol posted his photo with the confirmation of the lottery results and the signature:

Did this. Then put half into BTC in May. Remind me in 8 months if I f****d up.

Joxnlol @reddit

He noted that after taxes, the gain was approximately $ 357 thousand. His investment in the first cryptocurrency amounted to about $ 178 thousand, and profit exceeded $ 100 thousand, according to Cointelegraph.

In one of the further posts in the branch, he said that he was not going to touch the cryptocurrency “at least another year”.

Many commentators noted that joxnlol put himself in danger by posting a photo that was tied to the state.

MAS May Allow BTC Derivatives to Approved Desks

The Singapore watchdog's initiative is related to interest in this type of assets of hedge funds and institutional investors
21 November 2019   87

Listing and turnover of cryptocurrency derivatives in Singapore may be allowed on regulated exchanges. This was stated by the country's Monetary Authority (MAS), writes Bloomberg.

The regulator's initiative is related to interest in this type of assets of hedge funds and institutional investors.

So far, according to the law of the country, payment tokens - these include bitcoin and ether - are not assets that can form the basis of regulated derivative financial instruments.

As reported, under the proposal, trading of derivatives on common cryptocurrencies such as Bitcoin and Ether will be subject to the Securities and Futures Act, the Monetary Authority of Singapore said Wednesday in a statement. The plans are in response to interest from hedge funds and asset managers that trade such products. 

Legal sites in Singapore include the Asia-Pacific Exchange, ICE Futures Singapore, the Singapore Derivative Exchange and the Singapore Stock Exchange.

The Central Bank hopes that this initiative will satisfy the need of large investors in managing their payment tokens under state control.

At the same time, MAS emphasized that derivatives of payment tokens are not a suitable financial instrument for retail investors due to high volatility.