Fidelity International, a spin-off of the U.S. asset management giant, made a direct investment into Hong Kong-based digital asset platform operator BC Group. Fidelity International has acquired a stake in BC Group, the operator of OSL, one of Asia’s largest digital asset platforms for institutions. The company purchased 17 million shares for a 5.6% ownership…
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Several entities with pending crypto ETF proposals in the U.S. give their thoughts as to why no such crypto product has yet passed the test with the SEC. Over the past several years, many entities have submitted proposals for regulated Bitcoin (BTC) exchange-traded funds, or ETFs in the United States. So far, the Securities and…
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Indonesia’s regulators are cautiously warming to blockchain, with the country’s customs watchdog announcing the use of IBM’s TradeLens blockchain platform. IBM Indonesia has revealed that the Indonesian Directorate General of Customs and Excise has commenced using the blockchain-based shipping platform, TradeLens. The news follows several months of platform implementations, with the Indonesia Customs and Excise…
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South Korean crypto exchange Upbit has announced the continuous ban for its foreign users from withdrawing their funds due to tax and KYC issues. A Jinse report said that many Chinese Upbit users are finding it difficult to withdraw Korean Won ever since December. Upbit has announced to its foreign users the reasons their withdrawals…
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Technician Dan McDermitt debates analyst Ronnie Moas on the validity of trading versus hodling. This week, technical analyst Dan McDermitt of The Chart Guys educational platform debates Standpoint Research founder Ronnie Moas on trading versus holding. Can traders really outperform a simple buy and hold Bitcoin investment strategy? McDermitt sees trading as a profitable route.…
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Fidelity is still looking for a Bitcoin Mining Engineer to manage its mining operation, likely referring to an installation leased from Blockstream in summer 2019. The Fidelity Center for Applied Technology (FCAT) is looking to find Bitcoin Mining Engineers for a “new business opportunity.” The proposal is coming from the team behind Fidelity Digital Asset…
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Ripple CEO Brad Garlinghouse explained how he talks to bankers to assuage their fear of crypto and get them on board with the new asset class. Ripple CEO Brad Garlinghouse’s mission is to demolish bankers’ fear of cryptocurrencies and get them on board with the new asset class. During a recent interview with CNN, Garlinghouse…
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The EU’s financial regulator released a lengthy 2020 report, which includes the dangers of big tech companies entering finance. The European Union’s securities regulator has put out a report warning of risks of Big Tech’s entrance into finance. “The high level of market concentration typically observed in BigTech may get carried into financial services, with…
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The Department of Economic Development of Dubai has established a KYC blockchain consortium with six major banks. One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with…
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Cryptocurrency exchange Poloniex confirms that no users lost funds or holdings after a bug forced the platform to reverse trades on Feb. 12. Cryptocurrency exchange Poloniex remains confident that it has identified and fixed an error that caused a number of erroneous trades on the platform earlier this week. On Feb. 12, Poloniex made a…
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