Susquehanna to Provide BTC Trading For 500 Customers

Company was impressed by the success of bitcoin futures, so they decided to operate with cryptocurrency on public
06 June 2018   2063

The large US financial company Susquehanna International Group announced that it will provide access to bitcoin trading for 500 customers, after two years of processing similar transactions privately, New York Times reports.

We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever.
 

Bart Smith

Head of the digital asset group, Susquehanna International Group,

Initially, Susquehanna will work with cryptocurrency futures, subsequently adding the possibility of buying / selling Bitcoin, Ethereum, Bitcoin Cash and other crypto coins.

The company already carries out transactions with bitcoin for millions of dollars, for which it formed a team of dozens of traders. For the first time with bitcoin Susquehanna operated in 2014, when the Winklewoss brothers, founded the Gemini exchange, and asked to support their bitcoin-ETF, whose registration they intended to negotiate with regulators.

Susquehanna was impressed by the success of bitcoin futures, launched in December last year by two American trading floors; so they decided to operate with cryptocurrency on public.

To provide cryptocurrency products to its customers, Susquehanna asked regulators to make changes to it's broker-dealer license, which will allow it to operate with digital assets qualifying as securities.

Smith also commented on the investigation conducted by the US authorities regarding possible manipulation of the cryptocurrency market. A representative of Susquehanna said that he did not notice any obvious evidence of manipulation, although his company works with unregulated cryptoexchanges, while recognizing that this market is still in its infancy and characterized by a lack of proper regulation.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   310

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.