Mitsubishi to launch a regulatory framework for BTC trading

Mitsubishi UFJ Financial Group is going to set a hedge mechanism for Bitcoin trading, aimed at reducing risks and market volatility
27 December 2017   906

Mitsubishi UFJ Financial Group, one of the world's largest comprehensive financial groups, comprising a diverse range of leading companies in a wide field of financial businesses, is reportedly working to set up a hedge mechanism for investors is order to let them maintain Bitcoin holdings safely.

The decision was made in the aftermath of the high volatility of cryptocurrency market and the riskiness of Bitcoin trading. The financial units of Mitsubishi are looking for the reduction of costs and elimination of the possibility of downturn in BTC trading. 

Moreover, Mitsubishi is planning to keep the records of Bitcoin transactions in the ledger, which will be used to guarantee the holders of BTC the safety of their funds in case of the exchange failure. However, the crypto assets will not be refunded to traders if BTC price drops. The Mitsubishi Financial Group will work as the central bank works towards fixed-income exchange.

Thus, the hedge mechanism of Mitsubishi will presumably let the Japanese financial industry to capitalize on the volatility of the Bitcoin market and reduce the risks connected with BTC trading.

Previously, we have reported that Mitsubishi UFJ Financial Group and NTT DATA announced the launch of a Proof-of-Concept blockchain technology.

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $16 653,30
  • Marketcap: $279 199 652 152
  • 24h volume: $12 642 900 000

Bitcoin Questions included into Dutch High School Exam

Bitcoin-themed mathematics questions have been cut-in in recent high school matriculation exams in the Netherlands
18 May 2018   99

About 200,000 Dutch students are to have taken the OVW exam, a obligatory test for students who wish to get tertiary education in the Netherlands. The testing list  included five bitcoin-themed questions.

Students were offered to solve five different mathematical problems. The questions asked that students “calculate in what year the amount of bitcoin exceeded 18 million,” “calculate from which year on the reward will be less than one bitcoin,” “determine the maximal amount of bitcoin that can be in circulation.” The resolution  of the issues was supposed to base on the formula used to employed to solve the questions.

Such kind of changes in testing for students is connected with the growing  recognition of cryptocurrency by the Holland’s institutions. In March, the Court of Amsterdam defined that bitcoin owns “properties of wealth” at the same time  adjudicating a civil rights occasion between an individual seeking repayment from an unfulfilled contract pertaining to bitcoin mining. The court ordered that “bitcoin represents a value and is transferable” and “thus shows characteristics of a property right. A claim for payment in Bitcoin is, therefore, to be regarded as a claim that qualifies for verification.”

Recently, Rob van Gijzel, the ambassador of the Dutch Blockchain Coalition, revealed a national blockchain research agenda, which had been accredited by the Dutch Ministry of Economic Affairs and Climate Policy. The ministry had established a designated committee, TopTeam ICT, appointed to analyze the potential legal, economic, and ethical implications of distributed ledger technology in the country.