ParkByte to be delisted on Bittrex

ParkByte reported that its coin is going to be delisted on Bittrex exchange platform effective on April 6 due to regulation incompliance
01 April 2018   943

ParkByte has announced that its native token PKB will be delisted on Bittrex exchange effective on April 6. ParkByte Ltd. regretted the decision stating that it is powerless to control third-party companies actions. Bittrex actually contacted ParkByte a month earlier with a request to pass the regulation compliance and complete a full review. Naturally, the process required a lot of legal documents and detailed analysis on PKD to be submitted to the exchange in accordance with the recent SEC rulings. ParkByte failed to make it in a 7-day period, as was assigned by Bittrex.

The delisting ultimately is due to Bittrex strictly adhering to US regulations, and many other coins are expected the same fate. Nevertheless, ParkByte is still an active project led by a one-person dev team. ParkByte has grown into a big project and no money were taken from the project by the developer, thus it will take time to pay the bills.

At the time of the publication, the market indicators of ParkByte are as follows:

Average price: $0.101102

Market cap: $481,653

Volume (24H): $11,376

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   356

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.