EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator. “EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted. EtherDelta’s users have processed over 3.6 million orders for ERC20 tokens during an 18-month period, including those…

Crypto Exchange BTCC Is Closing its Mining Pool Business Indefinitely

Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years of operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it release previously earned mining profits “in time.” The pool was launched in 2014 as one of BTCC’s…

Hong Kong Exchange Prepares for Blockchain Trading Platform

Twitter Facebook LinkedIn Hong Kong Exchange and Clearing Limited (HKEX) has joined forces with Digital Asset to develop a blockchain platform for post-trade allocation and processing of trades. This alliance was created under the Stock Connect programme with China, based on a FinExtra report. HKEX had been working on a prototype system for Stock Connect using Digital Asset’s platform and smart contract modeling, as it attempts to speed up the post-trade process and reduce settlement risks among traders. This plan was made known by HKEX CEO Charles Li at a…

Bithumb, SeriesOne to Launch Security Token Exchange in the US

South Korean crypto exchange Bithumb has teamed up with crowdfunding platform seriesOne to launch a compliant security token exchange in the U.S. The joint venture was revealed in a press release from seriesOne shared with CoinDesk on Thursday, which adds that the exchange launch is still subject to regulatory approvals from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). SeriesOne already offers an SEC-regulated platform that supports projects launching initial token offerings, as well as traditional equities and debt offerings. “I believe that our companies will…

Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange

The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX. The accounts were frozen on October 25, Leah Li, a spokeswoman for Binance, told CoinDesk. The action was taken in response to pleas from WEX users who have been watching the ethereum blockchain, the known location of a public wallet belonging to the WEX exchange, uneasily in recent months while they have been unable to withdraw their funds off the exchange. These users traced…

Bitcoin Exchange Bitstamp Confirms Sale to Gaming Group NXC

Cryptocurrency exchange Bitstamp has been acquired by NXMH, an investment firm based in Belgium and owned by South Korean conglomerate NXC. In a deal signed last Thursday, the firm took a majority ownership stake in the exchange. Bitstamp CEO Nejc Kodrič will retain a minority ownership stake and continue running the startup’s operations. The terms of the deal, including the sale price, were not disclosed. Bitstamp backer Pantera Capital will also retain a 6 percent ownership stake in the exchange, according to statements, and Bitstamp will continue to operate independently. NXMH’s parent company,…

Cryptocurrency Exchange Coincheck Reports Over $5 Million Loss in Q3

Coincheck, the Japanese cryptocurrency exchange that suffered a $520 million hack in January, has reported increased losses for the third quarter of 2018. Monex Group, the Japan-based brokerage firm that acquired Coincheck following the hack, released its financial results for Q3 (Q2 in the Japanese financial year) on Monday. The group’s crypto asset segment, which reflects the Coincheck business, brought in revenue of 315 million yen, about $2.8 million, between July and September. Notably, that number represents a 66 percent decline compared to the previous quarter, during which Coincheck made…

Australian Stock Exchange to Roll out Blockchain Settlements in 2021

Australia’s leading market operator, ASX Limited disclosed plans being put in place to release blockchain technology for settlements in 2021. The company, however, does not feel overwhelmed by the deja-vu that has trailed the nascent technology, according to a Bloomberg report. ASX Limited has subscribed to the Clearing House Electronic Subregister System (CHESS) over the years but is now ready to replace it with the more novel and innovative blockchain, a digitized, decentralized and distributed ledger technology. The overhauling is part of the exchange’s upgrade which deputy chief executive officer…

A Decentralized Bitcoin Exchange That’s Almost Decentralized

Of all the cryptocurrency projects describing themselves as “decentralized exchanges” (DEXs), Bisq may live up to the description better than most. Operating since 2016, when it was originally called Bitsquare, the Bisq DEX runs directly on the user’s computer, rather than a hosted site, as many of the self-described DEXs currently do. And while DEXs like Airswap and Everbloom are operated by startups, Bisq is a strictly open source project developed by a grassroots collective. However, the team behind Bisq recognizes it has more to do to eliminate single points…

Japanese Crypto Exchange Group Gets Legal Status to Self-Regulate Industry

The Financial Services Agency (FSA), Japan’s finance regulator, has formally approved a cryptocurrency exchange association as a self-regulatory industry body. The FSA said in a notice on Wednesday that it has accredited the Japanese Virtual Currency Exchange Association (JVCEA) as a “certified fund settlement business association,” a status that will let the body set rules for the nation’s exchanges and take action over any violations. While the group has not announced any rules yet, a recent report from Reuters said it may require member exchanges to hold separate bank deposits…