WEF to Create Consortium For Crypto Regulation

Private firms, financial institutions, government reps, technical experts, scientists, etc. will join the international organization
27 January 2020   373

The Swiss non-governmental organization World Economic Forum (WEF) has created an international consortium to develop a system for regulating digital currencies. This was reported on the WEF website.

Private companies, financial institutions, government representatives, technical experts, scientists and representatives of international organizations will join the consortium.

The WEF notes that this is the first such initiative related to digital assets and brings together representatives of various industries at the international level.

Building on our long history of public-private cooperation, we hope that hosting this consortium will catalyse the conversations necessary to inform a robust framework of governance for global digital currencies.

 

Klaus Schwab

Founder and Executive Chairman of the World Economic Forum

 

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   630

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.