Bithumb Enables Withdrawal of 10 Cryptocurrencies

bithubm adds ten cryptocurrencies

Starting from Saturday, the 4th of August, the Korean crypto exchange Bithumb will allow its users to deposit and withdraw 10 digital coins. This became possible due to the security system upgrade.

The list of accepted cryptocurrencies include:

1. Bitcoin
2. Bitcoin Cash
3. Ethereum
4. Ethereum Classic
5. Ripple
6. Zcash
7. Monero
8. Qtum
9. Litecoin
10. Mithril

 

The operations with other currencies are impossible so far.

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The Cofounder of the Infamous Cryptocurrency Exchange QuadrigaCX Turned Out to Be a Convicted Criminal

The digital assets exchange platform QuadrigaCX has recently become an epicenter of various scandals and controversies. We have already reported earlier about another cofounder of the exchange Gerald Cotten.

Cotten died in the age of 30, leaving his wife and the exchange employees with massive amounts of missing money and the total confusion in the financial situation on the platform, considering the fact that he mixed his own funds with the funds of Quadriga.

However, now the exchange has to deal with an even more serious issue. It is suspected that the second cofounder of QuadrigaCX, Michael Patryn changed his name to escape criminal prosecution.

According to the report made by Bloomberg, Michael Patryn might be the same person as Omar Dhanani, a person suspected of committing multiple offenses in the United States.

Allegedly, Dhanani changed his last and first name in 2003 and 2008 correspondingly, after being convicted in multiple crimes, including credit card scams, identity theft, burglary, larceny, and receiving a 18-month sentence in federal prison.

Michael Patryn denies all the accusations and claims that Omar and him are two completely different people.

However, he failed to provide any decent proof of his activities starting from the early 2000s. Patryn only mentioned that he worked for various crypto-related businesses during that time period.

The Canadian authorities are currently investigating the situation at the exchange QuadrigaCX, regarding both the financial troubles caused by Gerald Cotten and the accusations against Michael Patryn or Oman Dhanani.

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Cryptocurrency Prices Today, March 20: Cryptocurrencies Are Slightly Moving To The Red Zone

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coin360 online platform, Bitcoin (BTC) has remained stable over the past 24 hours and added 0.11%. The price at the time of writing is $3980 per coin.

Cryptocurrencies are mostly decreased:

Bitcoin Cash dropped by 1.42%, Bitcoin SV has lost 0.33%, the value of coins is $155 and $65, respectively;

Ripple fell down by 0.9% and costs $0.31;

EOS minus 1.66% and its price is $3.66;

Litecoin decreased by 0.4% and its price is $59;

Cardano added 3.28% and its value is $0.051;

Stellar dropped by 2.9% and costs $0.11;

IOTA minus 0.5% and its cost is $0.29;

Dash increased by 0.75% and its price is $91;

Monero added 2.6% and costs $53;

Over the past 24 hours, Ethereum has lost 0.5%. The rate of the coin is $136.

The total market capitalization is $140 billion. Bitcoin accounts for 50.9% of the total. In monetary terms, this is $71 billion.

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Japan Released New Rules In Crypto Margin Trading

Japan is a progressive country in terms of economy, as well as cryptocurrency regulation. This time Japanese financial authorities have released a new set of rules regarding crypto margin trading.

Margin trading is a strategy that allows a trader to buy more stocks than you can afford on money borrowed from a broker (similar to loan).

The Cabinet of Japan approved draft amendments to Japanese financial instruments and payment services laws on Friday. In fact, they will limit leverage in virtual currency margin trading at two to four times initial deposits. Such restrictions are a common practice in foreign exchange trading.

All crypto exchanges throughout the country are bound to get governmental registration. This type of registration will differ from that adopted in 2017, which was mostly focus on preventing money laundering. However, these rules make exchange operators be monitored in a way similar to securities traders to protect investors.

These crypto exchange operators will be classified into categories to differentiate those who involved in margin trading from those who issued ICO tokens. This will help to distinguish unsavory offerings that are similar to frauds or Ponzi schemes and protect investors from losing their money. The new rules will come into force in April 2020. All margin cryptocurrency exchange operators have to be registered within 18 months of that date.

Such a time limit is set to take down unregistered “quasi-operators” which conduct operations without governmental approval. A senior FSA official said:

“We intend to motivate operators to do what they can to become registered.”

We remind you

Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

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Cryptocurrency Prices Today, March 19: Bitcoin Remains in Place

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcoin (BTC) remained stable over the past 24 hours and lost 0.08%. The price at the time of writing is $3982 per coin.

Cryptocurrencies are mostly in the green zone:

Bitcoin Cash added 0.75%, Bitcoin SV lost 1.84%, the value of coins is $157 and $65, respectively;

Ripple minus 1.78% and costs $0.31;

EOS plus 0.13%, and its price is $3.7;

Litecoin added 0.3%, and its value is $59;

Cardano dropped by 0.65%, and its cost is $0.049;

Stellar added 6.7% and costs $0.11;

IOTA gained  1.7%, and its cost $0.29;

Dash fell by  1.36%, and its price is $91;

Monero added 1.25% and costs $52

Over the past 24 hours, Ethereum lost 0.5%. The rate of the coin is $136.

The total market capitalization is $140 billion. Bitcoin accounts for 50.8% of the total volume. In monetary terms, this is $71 billion.

American Mining Company Riot Blockchain To Launch Crypto Exchange In The USA

According to a SEC filing, U.S.-based Bitcoin mining company Riot Blockchain plans to launch a crypto exchange by the end of July 2019.

Exchange Details and Current Situation

Riot Blockchain has partnered with SynapseFI, a major software company, and invested approx. $250,000 in the project. It has also form a special subsidiary to operate the exchange. The budget of the exchange is expected to be more than $2 million after its launch.

The software company will take care of banking services of the exchange, the provided API will connect Riot Blockchain’s accounts to other American banking institutions. Moreover, SynapseFI will track locations and identities of customers to “prevent fraud and improper use of its RiotX exchange.”

The SEC’s filing reads:

“SynapseFi’s API will enable to Company to know where the user is when accessing RiotX, thereby enabling the Company to prevent a user from Montana, a state where the exchange of digital currencies is permitted, from traveling to neighboring Wyoming, where the exchange of digital currencies is not permitted, and using RiotX in the prohibited jurisdiction.”

The exchange will be available in 48 states (without Hawaii and Wyoming) by December 2019. RiotX has already been provided a license in five states.

Rumours of Launching Before Official Statement

Back in March 2018, there were rumours based on facts that Riot Blockchain planned to launch crypto exchange since the company acquired Logical Brokerage Corp.. The public filing published at the same time stated that the company wanted to investigate futures brokerage operations and details of launching a digital currency exchange.

In November 2018, RiotX “entered into a Master Services Agreement with Shift Markets, Ltd. to provide RiotX with its crypto exchange platform. These services will enable RiotX to further execute its plans to launch a U.S. focused cryptocurrency exchange.

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Winklevoss’ Brothers Said “Crypto Doesn’t Need Rules”, What About Crypto Companies?

Winklevoss twins are one of the most influential crypto personalities in the modern world. They are multi-millionaires with their own exchange – Gemini – and own dollar-pegged Gemini coin. It is no secret that the brothers have supported crypto since the beginning of it, but now they promote crypto regulation which confronts with the idea of crypto as well as with their billboard slogans. What happened?

Crypto Needs Or Doesn’t Need Rules

The twins are known for deconstructing the stereotypes and the myths that surround crypto in the public. They want to change the image of crypto that has been plagued with scams, hacks, frauds. However, their billboard slogan “Crypto Needs Rules” was criticized by Bitcoin users as the main meaning of crypto is to transfer money or digital assets without having to trust anyone.

Source: Bitcoinist

Cameron Winklevoss said that some people wondered why Gemini believes that the crypto revolution needs rules. He responded:

“Crypto doesn’t need rules, but the companies built on top of it do.”

Cameron also cited a part of report regarding to the defunct QuadrigaCX exchange which lost millions of dollars.

In order to prevent cases like QuadrigaCX and Mt.Gox, the latter’s CEO was sentenced to 2 years and six months in prison, the companies that provide custodial services of customers assets should be regulated. Furthermore, Winklevoss pointed out that these cases as well as other incidents could have been preventable if there was a proper management of the company, in particular, “proper rules and thoughtful regulation”.

We remind you

The Gemini Dollar of Winklevoss Brothers Is Officially Approved

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