Swedish Crypto Exchange BTCX Plans IPO in 2020

One of the oldest cryptocurrency exchanges in Scandinavia wants to go public later this year, hoping it will enable traditional investors to participate in “new finance.” Oskar Soderstrom, CEO of Stockholm-based BTCX, confirmed to CoinDesk that they are looking to deliver an initial public offering (IPO) before the end of Q3 2020. Corporate financial advisory firm Eminova Partners has been engaged to help file the offering, expected to take place in Sweden. “Our aim is to bring bitcoin to the masses and to bridge the gap between new and traditional…

Blockchain Dispute Resolution Firm to List On London Stock Exchange

A company that uses smart contracts to manage arbitration and dispute resolution around blockchain transactions announced on Jan. 17 its intention to list on the Main Market of the London Stock Exchange. Proof of Trust Ltd did not give any financial details or timetable for the listing, but CEO Dean Armstrong said that the company was excited at the prospect of the listing and “look[s] forward to providing investors with the opportunity to share in this groundbreaking project.” Insurance protocol for smart contracts and blockchain transactions The company describes its…

Blockchain Arbitration Firm Proof of Trust Plans London Stock Exchange Listing

A firm that’s developed tech to resolve disputes arising from blockchain smart contracts has said it plans to list on the London Stock Exchange. As reported Friday by Alliance News (via London South East), The Proof of Trust aims to float on the LSE’s Main Market. “We at The Proof of Trust are excited at the prospect of a full listing on the main market of the company’s shares and we look forward to providing investors with the opportunity to share in this groundbreaking project,” said lawyer and Proof of…

Telegram Token Sales Canceled By Liquid Exchange

Japan-based Liquid Exchange has canceled the sale of Telegram’s Gram tokens and returned funds to customers as the messaging app company remains embroiled in an SEC lawsuit. The exchange has said that it is acting in compliance with the investor agreement, which states that Telegram’s Open Network (TON) should have been launched by October 31, 2019; otherwise it must initiate the process of returning funds to investors. As a result of the longstanding lawsuit brought against the messaging app by the SEC, an injunction has been brought out to prevent…

Binance Exchange to Restrict Access to Japan Residents

In a Jan. 15 announcement on Binance’s Japanese support website, the exchange revealed it would restrict access to residents of Japan at an unspecified later date. The restriction is said to be implemented gradually, with details to be revealed later, according to the announcement. Currently, there are no restrictions in place and Japanese users are able to operate the exchange normally.  Binance was previously headquartered in Japan after exiting China. As Cointelegraph reported in March 2018, the exchange moved its operations to Malta following an official warning by Japanese regulators…

Winklevoss-Led Gemini Exchange Now Has Its Own Insurance Company

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has created its own insurance company to protect clients against the potential loss of coins from its offline vaults – with a possibly record-breaking $200 million coverage limit. Announced Thursday, the new “captive” will provide insurance for customers of Gemini Custody, the crypto cold storage service of Gemini Trust Company. Typically, cold storage policies cover losses due to insider thefts and collusion, as well as the destruction of private keys by natural disasters like floods, earthquakes and so on. Cold…

Liquid Exchange Cancels Sale of Telegram’s Gram Tokens

Japan-based Liquid exchange has cancelled its sale of Telegram’s not-yet-launched gram tokens. Originally announced last June, the limited sale of tokens sourced from Gram Asia – said to be one of the biggest investors in Telegram’s $1.7 billion ICO – took place in July. However, the tokens were not to be released until Telegram’s TON network – the blockchain supporting the tokens – had gone live. That had been expected by the end of October last year. Sale proceeds were held in escrow pending the issuance. Now Liquid says in…

Bithumb Exchange Fighting Back Against ‘Groundless’ $69M Tax Bill

South Korea-based exchange Bithumb is fighting a move by the country’s tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions. Confirmed by the company in December, National Tax Service (NTS) based its demand on the rate for miscellaneous income. The tax is calculated at an annualized rate of 22 percent, and in this case was based on the amount of foreign withdrawals from Bithumb. A withholding tax is paid by the income provider rather than the recipient, so in effect Bithumb’s foreign customers are paying the…

Startup Crypto Exchange Blade to Launch Zero-Fee Trading in February

Crypto perpetuals exchange Blade will be introducing zero-fee trading next month in a bid to gain market share from rivals.  The Coinbase-backed exchange, which began operations in September, will also drop the $10 subscription fee it had planned to collect from traders on a monthly basis. Though based in San Francisco, Blade prohibits U.S. residents from opening accounts on its platform. Blade will be the first cryptocurrency exchange to offer fee-less trading in bitcoin perpetuals – no-expiry contracts which mimic a margin-based spot market and trade close to the underlying reference…

Bitstamp Crypto Exchange to Pilot Leverage Trading via Bank Partnership

The twelfth-largest cryptocurrency exchange, Bitstamp, partnered with cryptocurrency-friendly Silvergate Bank to pilot Bitcoin (BTC) leveraged trading. According to an announcement on Jan. 14, the exchange will serve as the launch partner for the bank’s Silvergate Exchange Network (SEN) Leverage service. During the pilot stage, the exchange will only offer leveraged trading to select institutional customers. The only collateral currently supported by the service is Bitcoin, which will be custodied by Bitstamp as Silvergate Bank’s first exchange partner. Silvergate Bank’s friendliness towards cryptocurrency businesses is seemingly paying off as it has…