exchanges

Circle Trade Raises Minimum Bitcoin OTC Limit to $500k

Minimum order size for bitcoin trades at Circle, one of the largest liquidity providers and over-the-counter (OTC) digital asset marketplaces in the world, has shot up to $500,000. That’s 100 percent higher compared to where the figure stood previously.

Rising OTC order sizes
OTC services are optimized for high net worth institutions and individuals looking to conduct large cryptocurrency trades without adversely affecting the market.

In a recent conversation with Business Insider, Circle Trade CEO Jeremy Allaire acknowledged that OTC order size had undergone a steep rise since January 2018 despite the slowdown in the 24-hour volume on retail exchanges.

According to Allaire, the average OTC order at Circle Trade currently stands at nearly $1 million with a few going as high as $100 million. However, the corresponding 24-hour volume on retail exchanges has come down to almost $20 billion a day from $70 billion at the beginning of the year. He further added that the average size of OTC orders would continue to rise.


Australia Introduces New Rules For Cryptocurrency Exchanges

“The Australian approach treats exchanges more or less as money services business, in-line with many other jurisdictions in the world. Cryptocurrency exchanges, like fiat currency exchanges, are deputized to help law enforcement identify money launderers. They have a risk-based approach for transaction reports under the standard $10k threshold, and automatic reports for transactions above $10k. So, standard practice for most currency exchanges. The aspect that is important to monitor going forward will be the performance of the agency the cryptocurrency exchanges report to, AUSTRAC. This agency will now have even more information and data to track, store, and secure. Agencies like them around the world — FinCEN in America for example — already have poor track records when it comes to prosecutions based on the data they gather. With the cryptographic sophistication and global, borderless infrastructure around cryptocurrency trading, we’ll have to wait and see if this is just more agencies gathering more data that serves no purpose other than to provide a talking point that they are ‘doing something’ to fight terrorism financing and money laundering.”




2 Cryptocurrency Stocks To Watch As Bitcoin Prices Increase

CORAL GABLES, FL / ACCESSWIRE / March 28, 2018 / Traders that have been monitoring the crypto industry lately have been starved of positive news for quite some time. However, recently a leading exchange, Coinbase announced that it was set to list new tokens. The last time the U.S. exchange added a new coin was back in December with bitcoin cash. This time around, Coinbase has looked to break the news gently by confirming that it will add support for ERC20 tokens. The only the question left is which assets it will bring on. The exchange wrote:

We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months. This paves the way for supporting ERC20 assets across Coinbase products in the future, though we aren’t announcing support for any specific assets or features at this time.

With this news, several coins including bitcoin have gained positive traction this week with mining and blockchain companies in focus. Two companies that have been generating buzz include Atlas Cloud Enterprises (OTC PINK: ATLEF) and NXT-ID, Inc. (NASDAQ: NXTD


Crypto Exchange Bittrex: We’re Compliant With SEC’s ICO Rules

S-based cryptocurrency exchange Bittrex says that it is compliant with federal regulations governing securities trading.

The exchange, which is headquartered in Seattle, issued a statement on Wednesday assuring its customers that its token review process is compliant with rules that prohibit companies from creating trading markets for unregistered securities.

Bittrex said:

“As a U.S.-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities.”

The statement was a direct response to an announcement published by the Securities and Exchange Commission (SEC) — also released on Wednesday — that warned it is “potentially unlawful” for cryptocurrency exchanges to list initial coin offering (ICO) tokens, as the agency deems many of these ICOs to be unregistered securities offerings.


Cryptocurrency Exchanges Slash Withdrawal Fees

Bitcoin is pretty cheap to send right now – cheaper than ethereum in some instances. It’s currently around 10 satoshis per byte to send BTC, which works out at approximately 30 cents for a typical transaction. Many bitcoin users only send cryptocurrency when withdrawing it from an exchange, however, to a wallet they control or to another exchange. And with cryptocurrency exchanges setting their own fees, the recent cost savings haven’t filtered through to users. Up until last week, it still cost around $10 to withdraw BTC from an exchange such as Kucoin or Binance. While the former has yet to lower its fees, Binance has.



Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year.


Bitcoin Is Back Above $11,500, But Bulls Not Out of the Woods Yet

Despite a sharp price recovery to over $11,500 today, bitcoin’s bulls are not out of the woods yet, the price charts suggest.

Coindesk’s Bitcoin Price Index (BPI) has climbed 25.9 percent from the eight-week low of $9,199.59 hit yesterday at 15:44 UTC. As of writing, bitcoin (BTC) is trading at $11,590 levels.

The world’s largest cryptocurrency by market capitalization has appreciated by 8 percent in the last 24 hours, according to data source OnChainFX.

However, the investor community isn’t convinced by the move, and comments on social media show that some believe the overnight recovery is nothing more than a “dead cat bounce.”