The largest independent brokerage in Brazil, Grupo XP, recently released its plans to launch a Bitcoin and Ethereum trading platform by the end of 2018. What’s interesting is that the government of Brazil has supported this initiative – which is how it entered today’s Bitcoin news category.
The CEO of Grupo XP, Guilherme Benchimol, has stated that his business will integrate both Bitcoin and Ethereum in the existing infrastructure of the brokerage – which will allow more than 3 million investors to invest in the emerging asset class.
After receiving complaints that crypto exchanges received subpar financial services from local banks, on September 20th, the government of Brazil and its antitrust watchdog launched a formal investigation into banks and major financial institutions. The officials at the Administrative Council for Economic Defense (CADE) then stated:
“However, it does not seem reasonable for banks to apply such restrictive measures a priority on a straight-line basis to all cryptocurrency companies, without examining the level of compliance and the anti-fraud measures adopted by individual brokerage firms conferring unlawful treatment per se on businesses brokering cryptocurrencies.”
Even though the CEO of Grupo XP said that he is not ‘a big fan’ of cryptocurrencies as a store of value or consensus currency, he stated that the company feels obligated to start penetrating the market. His view is that ultimately, investment firms are required to meet the demands and needs of their clients.
As he explained:
“I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market.”
At this point, the decision of Grupo XP is monumental for the South American cryptocurrency market – mostly because it comes in time when the government of Brazil has already taken its first approach towards legitimizing the market with financial services and banking partners. There is support from the government – which may transcend to an encouragement and potential regulation of this market in the country.
Facebook Is Looking For Senior Lawyer With Blockchain (Payments) Experience
“You will be responsible for drafting and negotiating a wide variety of contracts related our blockchain initiatives, including partnerships needed to launch new products and expand such products internationally.”It continues:
“You will also advise clients on the various legal risks, business strategies and other issues related to commercial transactions and general operations.”With this, Facebook attracted a lot of attention in the media. After the reports on New York Times last month which hinted on the company seeking support for its potential future token dubbed "Facebook Coin" - this only extends the rumors to new possibilities. The token, which some sources say that may appear within the first half of this year, would act as a cross platform initiative for payments - and may also involve Instagram and WhatsApp - as the two major businesses owned by Facebook. Before this, one report showed that the social media giant (Facebook) had bought a blockchain startup and with that made its first move in the blockchain space. The report was talking about Chainspace, a startup based in the UK, which focuses on blockchain scalability solutions. At the time, one Facebook representative noted that they have hired many Chainspace researchers but hadn't gotten a hold of Chainspace's tech. There are a lot of analyses about Facebook's current plans involving crypto and blockchain - as well as a lot of accents on how the dominant social media network could improve these spaces. For now, however, everything is just a rumor but this recent job vacancy ad has proven that things are looking more serious for both Facebook and its plans in the blockchain/crypto space.
Kraken Acquires UK Futures Provider And Crypto Exchange Crypto Facilities
“We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings.”The decision comes after crypto exchanges are trying to expand abroad and expand their reach to users and at the same time circumventing the restrictions by the regulatory climate in the United States versus other markets. For example, crypto exchange Bittrex also decided to launch an international branch of its trading platform that will divide the US users so it can be able to offer more tokens to all of the non-US users. This is why both of the companies (Kraken and Crypto Facilities) agreed on the partnership and focus on going forward. According to the press release:
“Crypto Facilities will remain London-based, benefiting from the regulatory oversight of the Financial Conduct Authority, one of the world’s most forward looking and innovation-focused regulators, and reflecting Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe.’’
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Criminals Are Threatening Business Owners In Amsterdam Demanding 50,000 Euros Worth Of Bitcoin
“You probably noticed how many entrepreneurs have had to close their doors recently by order of the municipality. To prevent you from being the next one, you must immediately take action.’’In order to pay the extortion fee, the business owners are instructed to open a new account on two crypto exchanges and them being Coinbase and Coinmama. Next up they have to buy bitcoins on either one of the exchanges and then transfer them to a required address. At least three coffee shops have already received a threat like this in Amsterdam and also a few nightclubs. The criminals even said that the extortion fee will be doubled if the owners don’t make the payment in five days. The email recipients must keep the threat confidential and they are warned for informing the police or any other law enforcement body. If they don’t maintain the confidentiality, the extortion fee will reach a stunning 200,000 euros. However, there is no single business registered to have paid the said amount.
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