This Week in Crypto

This Week in Crypto

Stay woke on the latest in blockchain and cryptocurrency. Tune in for interviews with blockchain builders and disruptors as we explore next-generation Web 3.0 applications. Hosted by mota.eth... Show More
September 21, 2019 9 min

This is your weekly roundup for the week ending September 20, 2019. OKEX & UpBit delist privacy coins, JPMorgan, Bank of America, and Wells Fargo pilot blockchain initiatives, and Loom Network is bringing DeFi to the Tron and Binance chains.

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In Exchange News Binance US Launches in 37 States

Binance US opened for registration and deposits this week. The exchanges has six cryptocurrencies available for trading with no trading fees until November 1st. Binance US CEO Catherine Coley said that the rollout is  “gradual” with 13 states not supported until a later date. Among those excluded are New York, Florida and Texas.

User who already have deposits with Binance.com will not see their funds automatically transferred to the U.S. platform. Binance US is a separate entity operated by BAM Trading Services.

Binance Venus Stablecoin Project

Binance is also positioning its stablecoin project Venus as a government-friendly alternative to Facebook’s Libra. Under Venus, control over any proposed stablecoin stays with the government issuing it; the government decides how to collateralize the coins and how many to mint. 

Binance chief compliance officer Samuel Lim says that in the next three to six months Binance will be moving heavily towards partnerships with governments, central banks, and large corporates. Lim added that Venus would give governments global financial access, instant liquidity, and the ability to experiment with new financial instruments.

OKEX & UpBit Delist Privacy Coins

South Korean exchanges OKEX and UpBit have delisted privacy coins in light of guidelines of the Financial Action Task Force (FATF). The exchanges will no longer support monero, zcash, and dash. OKEX stated “it is recommended that exchanges be able to collect relevant information such as the name and address of the sender and recipient of the virtual asset.” Coinbase UK also dropped support for zcash last month.

Huobi Expands to Argentina

Singapore-based exchange Huobi is launching Huobi Argentina, enabling users to purchase digital currencies with Argentine Pesos (ARS) via OTC trading. In October, Huobi plans to open a fiat gateway for the exchange, enabling people to buy cryptocurrencies via credit cards, wire transfers and local payment Mercadopago. Cryptocurrencies are gaining acceptance in the region amid the devaluation of the Argentine peso. 

LINE Launches Crypto Exchange

Messaging app LINE has launched a cryptocurrency exchange service for its 80 million Japan based users. The new exchange, called Bitmax, is now live with trading of five crypto assets including bitcoin, ethereum, ripple, bitcoin cash, and litecoin. No fees are charged for trading, though a charge of 108 yen will be applied for deposits and withdrawals. LINE utilizes a wallet developed by BitGo to segregate customer assets and store assets in a cold wallet.

CME Group Bitcoin Options Q1 2020

CME Group has announced that it will offer options on its bitcoin futures contracts starting in Q1 2020. CME Group said the launch of bitcoin options is aimed to pro

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