Ripple Is Partnering Up With Bittrex and Two More Exchanges

ripple adds three crypto exchanges

The project Ripple has recently been very active in terms of cooperation. Not so long ago it invited Bill Clinton as a speaker for their conference and helped Madonna with her charity campaign. This time it announced about the partnership with 3 crypto exchanges.

Bittrex (The United States)

– Bitso (Mexico)

– Coins.Ph (The Philippines)

https://twitter.com/CoryTV/status/1030093091410247680

According to the chief marketing strategist of Ripple, those exchanges were chosen due to the efficient amount of XRP tokens on their accounts.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

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

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

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.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

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

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

TOP 5 Most Convenient Applications To Use And Work With Cryptocurrency

Cryptocurrency is one of the most promising and growing industries in our modern world. It is becoming more and more valuable to our society, as well as to the nations’ economies and banking systems, since people prefer more convenient ways of trading and transferring money. We therefore offer you to look at top 5 apps that the most convenient in using and working with crypto.

1. Keymano

Keymano is a top wallet that provides a customer with a myriad of opportunities. It’s very convenient, fast and secure. Managing crypto or fiat money through Keymano wallet is easy. Using Keymano wallet anyone can sell, buy or send crypto on the go. It is user-friendly and straightforward.

Connect Keymano Card and Wallet to get even more functions. This Card allows you to make payments online and in-store. Moreover, the user can withdraw cash at any ATM terminal.

Keymano is a fully-featured product which not only simplifies managing crypto but also creates more ways to use it. With Keymano any transaction (from buying coffee to money exchange) is simple and always available in any part of the whole world. Having Keymano you can:

  • pay with crypto in any part of the world;
  • pay with BTC, ETH, etc;
  • manage multiple currencies in one App;
  • pay online or in-store using Keymano Card.

2. 365Сash

365Cash is a platform that provides services to users in different countries by organizing P2P transfers of digital assets. By the time of publication, the platform overcomes 850,000 cryptocurrency swaps. Such a big number extols this platform over others on the market. The service also possesses the following features:

  • Its own large ecosystem which uses nodes for cryptocurrencies and works automatically.
  • The most favorable rates for customers. The service earns on the difference in sales rates due to a large flow of customers and hedging the risks of cryptocurrency fluctuations.
  • Fully automatic system of receiving and paying funds to customers using the most popular payment system in Russia – Qiwi.
  • In future, it is planned to expand the pool of available cryptocurrencies.

3. Quppy 

Quppy is multicurrency payment system with unique cross-platform applications.The wallet provides users the ability to share crypto assets via different accounts inside one single wallet as far as within a decentralized storage system. By the end of the month, users will be able to withdraw money in euro. The platform also have some interesting features:

  • Sharing all your crypto assets through various accounts on one single platform.
  • Superior security for users based on blockchain technology.
  • Fast cryptocurrency exchange and instant transactions;
  • Multicurrency support including Bitcoin, Bitcoin Cash, Litecoin, etc.
  • Integration of Nexo – a service of the world’s fastest instant credit.

4. Chatex

Chatex is a platform that makes transfers, exchanging or paying for goods much more easier for every customer. Cryptobanking facilitates access to the use of cryptocurrency for those who have never had a cryptocurrency wallet and who do not want to understand difficult passwords, 12 words, etc. The service eliminates the possibility of loss of big passwords or phones, since it allows you to regain access during a personal appearance to the certification center. Unique feature are:

  • The wallet is protected by an additional PIN-code and in exchange transactions between people.
  • Instant internal transfers without commissions. Instant purchase with any VISA/MC.
  • Respond quickly to digital assets management requests from your smartphone.

5. Waves

Waves is revolutionary mobile app which enables users to connect to the network and make transactions. It is a comprehensive, all-in-one app for mobile devices with an absolutely unique feature set that includes a crypto wallet, the Waves DEX, and fiat gateway. The biggest advantages of the platform are:

  • All traffic is encrypted, hence privacy and security are fully provided. Private keys never leave users’ smartphone and are never exposed to the web.
  • Supporting Face ID, Touch ID and Fingerprint scanning.
  • Trading on DEX, with the great tools and charts, it provides access to fiat and crypto gateways, so the customer can deposit, store, trade and withdraw other assets.
  • The customer can send tokens to one’s address book contacts, lease one’s WAVES, receive warnings about suspicious tokens and burn any spam assets he/she doesn’t want.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Did or Didn’t Ripple Bribe Coinbase? Should We Believe In Response of Ripple’s Executive On The Case?

It may seem that bribery scandals and acquisitions cannot touch cryptocurrency industry, but that is not true. The recent announcement of Coinbase having listed Ripple’s XRP is a proof of it, since many crypto related people reckon Ripple bribed Coinbase. Let us see what happened.

On February 26, Coinbase Pro announced that XRP was available to trade. The platform provides more advanced services that the regular Coinbase. After listing XRP on Coinbase platform, the price on the tokens raised by 10 percent.

According to the report made by Dior in late February, Coinbase breached its rules to list XRP tokens. Moreover, the CIO of Altana Digital Currency Fund contacted with Elliott Suthers who is Coinbase’s communications’ director and asked some questions. He wrote

whether or not Coinbase asked for permission of either the Securities and Exchange Commission (SEC) or Commodity and Futures Trading Commission (CFTC). In addition, Suthers was asked whether there was a private deal between Coinbase and Ripple for listing XRP pairs.

Suthers answered that he was ready to discuss these things “off the record”, thus let people think that there was something illegal between Coinbase and Ripple.

On the next day, Miguel Vias replied via Twitter that there was no payment regarding this situation.

In April 2018, Bloomberg published that Ripple offered Coinbase and Gemini platforms to list XRP tokens for $100 million in XRP and $1 million correspondingly. Even though the CEO of Ripple refused all the accusations, but rumours cannot just appear from nowhere. It makes us think what if Miguel Vias or any other Ripple’s representative is hiding the truth. It is also quite suspiciously that the company which was embroiled in different lawsuits of insider trading surrounding its Bitcoin Cash listing, did not get anything from listed XRP.

What about you? Do you believe in Ripple’s Executive’s words?

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Late CEO of QuadrigaCX Used His Own Money to Pay His Customers

Sometimes when people pass away, they leave their family not only with grief, but also with multiple financial issues. It is especially the case for people who were once engaged in activities involving large sums of money.

It turned out that Gerald Cotten, the chief executive officer of the cryptocurrency exchange QuadrigaCX left quite a mess after his death, which his wife Jennifer Robertson now has to deal with.

Financial hardships of QuadrigaCX

Back in 2018, the Canadian Imperial Bank of Commerce froze the fiat accounts of the exchange and the funds on them due to the suspicious origin of this money.

Meanwhile, the customers of QuadrigaCX still needed the opportunity to withdraw their money, so Gerald Cotten didn’t think of a better way than just using his own personal funds in order to keep the exchange afloat.

While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 while the CIBC money remained frozen. I believe Gerry had the best interests of the business in mind, and cared for his customers,” commented Jennifer, Gerald Cotten’s widow.

Where to get the money?

Obviously, Cotten was not able to repay all the amount of money from his own pocket, so now the exchange is missing around 140 million dollars in cryptocurrencies belonging to over 100 thousand customers.

Moreover, 6 Bitcoin wallets of the exchange turned out to be completely empty.

The representatives of QuadrigaCX applied for creditor protection soon after Cotten’s death, and the court appointed the company Ernst&Young to try and find at least some of the missing money. So far, it hasn’t made any particular progress.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/