Earlier this week, the New York State Department of Financial Services granted a virtual currency license and money transmitter license for Tagomi Trading LLC. Tagomi is the latest of 18 applicants that DFS has approved since it began regulating the virtual currency market in 2015. Meanwhile, in Japan, regulators have approved several new exchanges. Rakuten Wallet Inc., a subsidiary of the largest e-commerce site in Japan, announced that registration with Tokyo's Kanto Local Finance Bureau had been completed. Rakuten Wallet replaces an exchange named Everybody's Bitcoin Inc., which its parent company acquired for $2.4 million in August 2018. A second crypto exchange, DeCurret, was also approved to begin operations this week. Japanese regulators also have approved the application of Taotao, a cryptocurrency exchange that is 40 percent owned by a major international web services provider.
In more news from the Asian market, Chicago-based exchange Seed CX recently announced that it has teamed up with a Singapore-based trading infrastructure technology provider, Hydra X, to build functionality for Seed CX users to view prices and trade and monitor their portfolios on the Hydra X trading platform. In China, crypto mining goliath Bitmain is reportedly planning to set up 200,000 units of new mining equipment in the country. Bitmain is reportedly looking to take advantage of China's low hydroelectric power costs this summer caused by heavy rains in southwestern China.
In capital markets news, according to a recent report, despite the downturn in initial coin offering (ICO) activity, Binance has continued doing multimillion-dollar ICOs and has launched a new ICO platform, Binance Launchpad. In addition, tribeOS, a blockchain-based digital advertising company, recently received regulatory approval under Bermuda's 2018 ICO Act to issue what has been reported as a revenue-sharing equity token.
For more information, please refer to the following links:
- DFS ADVANCES NEW YORK'S THRIVING VIRTUAL CURRENCY MARKET, GRANTS VIRTUAL CURRENCY AND MONEY TRANSMITTER LICENSES TO TAGOMI TRADING, LLC
- Announcement of Registration Completion of Rakuten Wallet, Inc., a Wholly-owned Subsidiary of Rakuten, Inc., as a Virtual Currency Exchange Service Provider
- Japan Green Lights 2nd Crypto Exchange for April Launch as Data Shows Huge Interest
- Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia
- Report: Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China
- It's still 2017 for one crypto exchange: Binance is doing million-dollar ICOs when everyone else has given up. But there's a catch.
- tribeOS is First Digital Security Issued Under Bermuda's ICO Law
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
