New York financial regulator approves Bakkt trust license

NEW YORK (Reuters) – Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday. Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc (ICE.N), which also owns the New York Stock Exchange. A trust company is technically different from a bank […]

Read more unit tZERO to launch digital currency wallet, exchange app

NEW YORK (Reuters) – subsidiary tZERO said on Thursday it has launched a digital wallet and exchange app for cryptocurrencies. Investors who want to participate in the global cryptocurrency market will be able to buy, sell and hold these digital assets directly through the tZERO Crypto App on their mobile phone, rather than using more vulnerable, third-party exchanges for […]

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U.S. bitcoin ATM operator to add Dai stablecoin, launch remittance service

NEW YORK (Reuters) – Coinsource, a Texas-based bitcoin ATM operator, will make the Dai stablecoin available on its machines this summer, in preparation for the launch of a full remittance service, a company official told Reuters. MakerDao, a decentralized organization, issues Dai, which is a collateral-backed cryptocurrency that has a one-to-one soft peg to the U.S. dollar. Stablecoins like Dai […]

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U.S. investor awarded $75 million in cryptocurrency crime case

NEW YORK (Reuters) – U.S. entrepreneur and cryptocurrency investor Michael Terpin won $75.8 million in a civil judgment against a 21-year-old man who Terpin said was part of a scheme that defrauded him of digital currencies, court documents showed on Friday. California Superior Court last week ordered Manhattan resident Nicholas Truglia to pay Terpin the amount in compensatory and punitive […]

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U.S. firm Genesis says it loaned more than $1.5 billion in cryptocurrency

NEW YORK (Reuters) – Cryptocurrency dealer Genesis Global Trading said on Thursday it loaned digital assets valued at $1.53 billion to institutional borrowers in the year since it launched its lending business in March 2018, an indication of demand for the emerging lending market for cryptocurrencies. Institutional borrowers such as hedge funds and other financial firms have used crypto assets […]

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U.S. compliance startup Chainalysis expands tracking service to 10 cryptocurrencies

NEW YORK (Reuters) – New York-based startup Chainalysis said on Wednesday it has expanded its real-time transaction monitoring service to cover 10 cryptocurrencies as part of an initiative to help reduce global anti-money laundering activities. The launch of additional cryptocurrencies comes as investors await global regulatory guidance that will require automated transaction monitoring for cryptocurrencies that exchanges and financial institutions […]

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Focus falls on crypto's flaws as puzzlement over bitcoin's jump reigns

LONDON (Reuters) – Collective puzzlement has reigned among cryptocurrency analysts and traders since bitcoin’s dramatic jump on Tuesday, with the mysterious spike shedding harsh light on flaws in a market the mainstream considers too opaque, too volatile and too risky. Bitcoin soared nearly 20 percent in its best day since the height of its 2017 bubble, lifting smaller cryptocurrencies and […]

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U.S. calls 'OneCoin' huge pyramid scheme, charges leaders

NEW YORK (Reuters) – U.S. authorities on Friday announced criminal charges against the alleged leaders of an multibillion-dollar pyramid scheme involving the sale of a fraudulent cryptocurrency, OneCoin. Konstantin Ignatov, who runs OneCoin Ltd, and his older sister Ruja Ignatova, who co-founded OneCoin and is known as “Cryptoqueen,” were accused of swindling investors coveting big returns and low risk, in […]

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Cryptocurrency traders protest Indonesia's new futures rules

JAKARTA (Reuters) – Indonesian cryptocurrency traders are complaining that the government’s new rules on futures trading, which require high minimum capital for traders, will hinder development of the young but growing market. Use of cryptocurrencies as payment instrument is banned by Indonesia’s central bank, but trade in the blockchain-backed assets is allowed. Since October, Jakarta has allowed futures trading of […]

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