SEC Chair Clayton: Bitcoin Needs ‘Better Regulation’ Before Major Exchange Listing

Better regulation is needed around bitcoin markets before they can be traded on major exchanges, the head of the U.S. Securities and Exchange Commission said on Thursday. Speaking at CNBC’s Delivering Alpha conference, SEC Chairman Jay Clayton said investors are “sorely mistaken” if they think bitcoin and other cryptocurrencies undergo the same price discovery practices as products on top exchanges like the Nasdaq or New York Stock Exchange. “We have to get to a place, in my view — just speaking for myself — we have to get to a…

Kakao’s Klay Cryptocurrency to Make First Exchange Listing

South Korean messaging giant Kakao’s “klay” token – the native cryptocurrency of its recently launched Klaytn blockchain – is soon to make its first official exchange listing on Upbit’s platform. Ground X, the firm set up by Kakao to develop the Klaytn network, announced the news in a Medium post on Sept. 5, saying klay will list on Upbit’s Singapore and Indonesia platforms by the end of this month. Upbit Singapore revealed on Sept. 6 that klay will be listed following price discovery via a Dutch auction – in which the price is reduced…

Messaging Giant LINE Wins Japan License for Crypto Exchange Business

LINE, provider of Japan’s most popular messaging app, has just been approved for a cryptocurrency business license in the country. The news, reported by CoinDesk Japan on Friday, means it will be able to offer its crypto exchange services in Japan where it has 80 million monthly active users. The new platform is to be called BitBox, according to the company. The license was awarded by Japan’s Financial Services Agency, which indicated on its website that the registration was completed on Sept. 6 in the name of LVC Corp., which oversees…

Norwegian Bank Invests in Crypto Exchange Founded by Airline Magnate

A Norwegian savings bank dating back to the mid-1800s has just invested in a cryptocurrency exchange set up by local business magnate Bjørn Kjos. In a press release posted on the Oslo Stock Exchange, Sparebanken Øst said it had taken a 16.3 percent stake in Norwegian Block Exchange (NBX) for 15 million Norwegian krone (around $1.638 million). NBX was revealed to be in development in April of last year, after being founded by Kjos and his family. Bjorn’s son Lars Ola Kjos – apparently a fan of bitcoin – is leading the exchange’s operations. The platform launched for…

Binance Acquires Crypto Exchange JEX to Boost Derivatives Offerings

Binance has announced the acquisition of crypto exchange JEX in a bid to boost its crypto derivatives offerings for pro traders. Seychelles-registered JEX offers spot and derivatives (including options and futures) trading in cryptocurrencies such as bitcoin and ether. Going forward under Binance management, the derivatives exchange will be known as Binance JEX. JEX offers its own token, also called JEX, which will continue to be guided by its existing foundation, Binance said. Binance plans to first distribute the tokens to users through “marketing activities and community incentives” before ultimately clawing back…

4 Agencies Are Investigating Crypto Exchange QuadrigaCX

At least four different law enforcement and regulatory agencies are investigating defunct Canadian crypto exchange QuadrigaCX, a new report by bankruptcy trustee Ernst & Young (EY) said. George Kinsman, the court-appointed bankruptcy trustee and EY employee overseeing the exchange’s shutdown and the return of funds to its users, wrote a new report Monday sharing some information about EY’s ongoing attempts to recover crypto and fiat for its creditors. The document outlines the different investigations surrounding the exchange, as well as EY’s motion to transfer QuadrigaCX’s ongoing bankruptcy proceedings from Nova Scotia…

Crypto Exchange OKEx Pounds the Table on 34% Bitcoin Price Surge

Crypto exchange OKEx believes the bitcoin price will surge 34% to $14,000 this year, thanks to a little help from the Federal Reserve. | Source: Shutterstock By CCN Markets: Crypto exchange OKEx isn’t concerned that the bitcoin price appears to have hit a wall just above the $10,000 mark. In fact, the industry giant believes BTC will surge another 34% to $14,000 before the end of the year, thanks to a helping hand from the US Federal Reserve. #Fed is expected to signal a further rate cut at today’s Jackson…

Crypto Futures Exchange Deribit Launching Bulk Derivatives Trading

Deribit claims it’s becoming the first crypto futures and options exchange to provide large-volume trades of bitcoin and ether derivatives. The move comes via a partnership with institutional messaging service Paradigm, according to a BNN Bloomberg report on Thursday. Deribit’s CEO, John Jansen, reportedly said the new service will offer block trades with a minimum of 40 bitcoin and 800 ether for options contracts linked to those cryptocurrencies. Ten top crypto trading firms have already signed up to use the service, with Paradigm founder Anand Gomes naming QCP Capital in the report. According to…

Cryptopia Exchange Kept Users’ Cryptos in Pooled Wallet: Liquidator

The assigned liquidator for the collapsed New Zealand-based cryptocurrency exchange Cryptopia says it’s making progress in determining customer holdings, but that the management of user funds by the exchange has caused delays. Professional services firm Grant Thornton New Zealand was assigned to oversee the liquidation process in May, after the exchange had failed to recover from a major hack in mid-January. In its latest update on Wednesday, Grant Thornton provided some good news, saying that it had managed to retrieve Cryptopia data that was stored in a third-party data center in Arizona. The liquidator…