OpenANX Starts Token Sale

Decentralized Cryptocurrency Exchange is looking for an investitions
22 June 2017   2123
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Since the MtGox's collapse, centralized exchanges were a point of failure in the cryptocurrency ecosystem. Assailable to hackers, cyber attacks, government coercion or plain fraud. Now a new project is seeking crowdfunding via open token sale, transparent and decentralized trading venue technology.

OpenANX from Hong Kong is decentralized exchanges solution created on the Ethereum blockchain. OAX token sale launches today, June 22, 2017.

ANX International and industry veteran advisers are coordinating the launch of OAX. ANX International is a fintech company founded in 2013 with specialization in blockchain technology; it supports ANXPRO, one of the longest running bitcoin trading platform in Asia.

ANX firmly believes decentralized exchanges will dominate the cryptocurrency market. We plan to lead the march toward this future through openANX, which will be fully open sourced, transparently governed, and kickstarted by ANX’s technology, experience in operating an exchange, infrastructure, and wide network of users. 
 

Hugh Madden
Director of Technology, openANX

OpenANX presented key technical aspects that address these problems, including transparent collateral ratings for asset gateways, credit risk markets, the use of smart contracts for memberships, collateral management and dispute resolution, Know-Your-Customer (KYC), and settlement for asset exchange, both for over-the-counter (OTC) and order book-based transfers.

New York State to Revise BitLicense Granting Terms

At the moment, BitLicense is the most stringent legal framework for the cryptocurrency industry
23 October 2019   15

The terms for granting the so-called BitLicense, the license required for cryptocurrency companies to work in New York State, will be reviewed. This was stated by the superintendent of the New York Department of Financial Services (NYDFS) Linda Lacewell, reports CoinDesk.

BitLicense is considered the most stringent legal framework for the cryptocurrency industry at the state level. In particular, companies are required to receive it for cryptocurrency transactions of New Yorkers, even if they themselves are based in other jurisdictions.

Last year, Kraken, a San Francisco-based exchange, chose not to receive BitLicense, but to completely leave New York. Earlier this year, the Bittrex exchange (Seattle) also left the state without licensing.

This is a good time to take a look, a responsible look and see how our regime is fitting the current market and … what if any adjustments should we think about making to continue to adapt to sort of a changing industry … that’s going to be one of the things that [we do].
 

Linda Lacewell

Superintendent, New York Department of Financial Services

At the same time, she called not to “be too happy” about possible changes in the rules for the cryptocurrency industry.

According to her, the current regulatory regime “works well,” but the industry has changed since 2015, when BitLicense was introduced.

How has the industry grown? Has it matured in any way? And I don’t want to get too specific, but you know, it’s a good time for a second look.
 

Linda Lacewell

Superintendent, New York Department of Financial Services

 Lacewell did not specify when the revision of licensing terms will be completed and what exactly industry participants can expect in the end.

Since the introduction of the license until June 2018, only 6 companies have received BitLicense, but over the past 20 months, after the regulator has softened its position, 16 more companies have been added to their number.