Philippines to Issue 25 Crypto Exchange Licenses

The administrator of a government-controlled economic zone in the Philippines has revealed plans to issue licenses to cryptocurrency exchanges
03 July 2018   620

Residency in the Cagayan Special Economic Zone of the Philippines will be received by 25 "trustworthy" crypto exchanges, CCN reports.

The agency plans to issue licenses to sites whose activities do not contradict the current cryptocurrency legislation of the country.

We do not want the Philippines to be a haven for scammers even if these scams are happening abroad. That’s why through our probity and integrity check we can determine if their transactions are just designed to entice unsuspecting people to invest in Bitcoin or whatever crypto coin that is a fraud.
 

Raul Lambino

Chief, Cagayan Economic Zone Authority

According to him, cryptocurrency exchanges having an office in a special economic zone will have to invest at least $ 1 million in it within two years of work.

Despite the limited number of licenses, each of 25 crypto exchanges will be entitled to issue up to 30 trader and broker sub-licenses.

In April, the authorities of the province of Cagayan said that they intend to allow the activities of ten bitcoins and blockchain companies in a specially designated economic zone where they will receive tax preferences and create new jobs openings.

OKEx & Kraken to List Bitcoin SV

Kraken notes that Bitcoin SV doesn't meet its usual listing requirements
19 November 2018   74

OKEx Bitcoin exchange, charged holders of Bitcoin Cash with BCHABC and BCHSV coins. Bidding for each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.

Note that futures, margin trading and fiat pairs will remain unavailable for new assets. The withdrawal of coins is also closed indefinitely.

In turn, the Kraken exchange assigned the BCH ticker to the Bitcoin ABC chain, but also made a decision on the listing of Bitcoin SV (BSV).

WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of:

  • No known wallets supporting replay protection (be careful!)
  • No support in major block explorers
  • Miners apparently subsidized or operating at a loss
  • Representatives threatening and openly hostile toward other chains
  • Chain’s survival may be mutually exclusive with other chains
  • Supply is temporarily constrained because of limited wallet support
  • Some large holders have indicated they’d be dumping everything ASAP
  • Kraken has done only very minimal code review

Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.
 

Kraken Team

BSV trading will be available in pairs with Bitcoin, fiat USD and Euro.

Meanwhile, the BSV rate in the last 24 hours fell by almost 30%, dropping below $ 90.