LN - CryptoCorner: LINE's BITMAX Exchange Launches in Japan VanEck and SolidX Withdraw SEC Rule Change for Bitcoin ETF Binance.US Launches but Excludes States Such As New York
Point Roberts, WA and Delta, BC - September 18, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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CryptoCorner: LINE's (NYSE: ) BITMAX Exchange Launches in Japan, VanEck and SolidX Withdraw SEC Rule Change for Bitcoin ETF, Binance.US Launches but Excludes States Such As New York
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Stocks discussed: (NYSE:LN)
BITMAX, the new crypto exchange service from Japan's LINE Corporation (NYSE:LN), has begun operations, according to an official statement published yesterday. The service is available to 81 million Japanese users who have access to the LINE mobile app wallet. An excerpt from the statement emphasizes LINE's prioritization of security:
While numerous existing exchanges already have a large customer base, LINE sees cryptocurrency exchanges as still in their infancy, and believes the industry has potential for even greater growth. Along with the various services offered on the LINE app (currently used by 81 million users in Japan and a total of 164 million users across LINE's four key markets), the company has been one of the heaviest investors among Japan's internet businesses into security measures. This approach has extended to BITMAX, offering users a reliable and stable service that prioritizes security and safety above all else.
Cboe BZX Exchange, Inc. has withdrawn its proposed rule change with the U.S. Securities and Exchanges Commission (SEC) to list and trade SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust. This comes weeks after VanEck and SolidX resolved to offer institutions a limited version of the Bitcoin ETF. Gabor Gurbacs, the director of digital asset strategy at VanEck tweeted in response to the news:
We are committed to support Bitcoin and Bitcoin-focused financial innovation. Bringing to market a physical, liquid and insured ETF remains a top priority. We continue to work closely with regulators & market participants to get one step closer every day.
Binance.US, the U.S. division of crypto exchange giant Binance, launches today, according to a company blog post. However, that same blog post indicates that the U.S. states of Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington are excluded from the launch. Binance.US CEO Catherine Coley, who wrote the blog post, commented:
Although it is upsetting that we cannot offer Binance.US in the states where I grew up and earned my education at this time, please rest assured that this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home.
Cointelegraph reports that Singapore-based crypto and blockchain firm Huobi, has expanded to Argentina. The exchange, Huobi Argentina, was launched through Huobi Cloud, allowing users to build over-the-counter (OTC) and digital asset exchanges on top of Huobi's existing platform. Currently, users can buy crypto with Argentine Pesos, but Huobi is planning a fiat-to-crypto gateway, allowing the purchase of crypto using credit cards, transfer and some local digital payment providers. Carlos Banfi, CEO of Huobi Argentina, said:
"Argentina is South America's most promising market for blockchain development. There already exists a general consensus to break from a reliance on the local currency and banks, and with Huobi's entrance into the market, it is a great opportunity to move the needle on blockchain and crypto adoption in Argentina."
Sam Mowers, Investorideas
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