The St. Petersburg city court overturned the ban on access to 40 sites-the exchange of cryptocurrency

The St. Petersburg city court overturned the decision in may, at the request of prosecutors the decision of October district court about restricting user access to 40 sites where you can sell and buy bitcoins.

Site owners filed an appeal, as the court of first instance considered that to spread information about bitcoin in the Russian Federation is prohibited, and “the actual presence of crypto-currencies outside the legal framework does not provide the possibility of implementing legal mechanisms to ensure fulfillment of obligations by the parties to the transaction”.

Now it is redirected to a new consideration by other structure of court.

We will remind that the Ministry of Finance of Russia has no plans to increase the financial literacy of the population in relation to cryptocurrencies. According to Deputy Finance Minister Sergei Storchak, there is no need. At the same time, the Central Bank of the Russian Federation spoke against allowing the exchange of cryptocurrency in the country as it carries huge risks for the population and business.

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Morning courses cryptocurrency — uncertainty and a little fear

The ongoing uncertainty regarding the fate of the cryptocurrency exchanges in China will the Chinese government ban or just impose additional regulation — dictated the mood on the cryptocurrency market last night. Virtually all major crypto-currencies have lost in value from 5 to 10%. Bitcoin (BTC) varies between $3800-4000, finding $3800 support. Other currencies mostly follow the same trends.

At that time, as a number of analysts attribute such a correction not only with the news from China, but also with the statements of the head of JPMorgan, most of us agree that we should not exaggerate the impact on the market Jamie Daimon, which for many years has consistently opposed cryptocurrency.

It should also be noted that in the United States Monday there is a revival in the stock markets caused by the lack of North Korean news and lower than expectations of consequences of hurricane “Irma”. The major indexes have been rising steadily since the beginning of the week. Attention and resources are also distracting traders Apple shares in connection with the presentation of new products, the volume of trading they rose this week, almost twice as much as usual, and the growth of turnover of trading AAPL two days on 12 and 13 September, almost three times higher than the daily turnover of the market of cryptocurrencies.

The General mood in the market can be estimated as the uncertainty with a share of fear. If this mood will last until the weekend, it is not excluded the possibility of a repetition of the attack on the market a week ago, when he was first falling rate on the rumors about a complete ban on exchanges in China. Will it be enough to calm the market of today’s article in Renmin Ribao — we will see.

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The state Duma of the Russian Federation will become a meeting place for miners from all over the world

On 25 December in the State Duma of the Russian Federation will host the first global meeting of miners. This was stated by the Chairman of the Duma Committee for education and science Boris Chernyshov, RIA Novosti reports.

According to the MP, already confirmed their participation of 16 countries, among them USA, Belarus, Ukraine, Singapore and others.

«I make the announcement, on 25 December this hall will host the world’s first such gathering of miners, confirmed the 16 countries part of their own… It will be an interesting talk to the professionals,» said Chernyshov.

We will remind that last week the President of Russia Vladimir Putin instructed the government and the Central Bank of Russia to set requirements for the organization and implementation of mining, including the registration and taxation of persons who are engaged in such activity.

And earlier this month, the authorities of Leningrad region have begun consultations on the creation of industrial Park for placement of a complex for mining cryptocurrency.

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Investor: bitcoin is the first viable candidate to replace gold

Investor and partner in the company Capital Pfeffer John Pfeffer (Pfeffer John) said that bitcoin is “the first viable candidate to replace gold,” and he better “on all fronts”.

This opinion was expressed by the entrepreneur in his speech at the annual Sohn Investment Conference in new York, one of the main investment forums in the world.

Pfeffer noted that decentralization and the ability to resist censorship are the main advantages of the first cryptocurrencies. Moreover, compared to gold, bitcoin is easier to store and make in this deal, he added.

According to Pfeffer if 25% of foreign reserves will be replaced by the oldest cryptocurrency, it will give total capitalization of bitcoin of $6.4 trillion.

John Pfeffer is not the first, who predicts the first cryptocurrency in the future as a “digital gold” — the main store of value. Talked about this, for example, co-founder of Apple Steve Wozniak (Steve Wozniak) and billionaire investor Mike Novogratz (Michael Novogratz).

The opposite view was expressed by analysts of the Bank Goldman Sachs as saying that bitcoin is not “the new gold”. And managing Fund Old Mutual Gold&Silver Fund Ned Naylor-Leyland (Ned Naylor-Leyland) and does believe that bitcoin is “paving the way” to global return gold.

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Swiss Crypto Valley Association has released a «Code of conduct ICO»

Swiss non-profit organization Crypto Valley Association (CVA) announced the release of “code of conduct ICO”. The Association expects that the document will give clarity and confidence to a new, fast-growing asset class.

“With the rise of the innovation technology of the blockchain and cryptocurrency, it is not surprising that organizations are using similar innovative financial instruments to raise capital,” said Chairman of the CVA Oliver Bussmann (Oliver Bussmann).

It is assumed that the Code would be to Orient to the proper conduct of the initial offering of coins, taking into account all legal and moral obligations, including security.

Among other points, the document calls on all companies adopting the ICO, to be fully transparent about the details of this process. They should be disclosed in such a way that can be easily understood even not too technologically literate investors. This includes a clear idea of how you plan to use the tools and how to work the token, as well as a clear assessment of the risks of its underlying technology.

On the development of the ICO Code of Conduct the Association announced in September last year. For this there was created a working group on policy and regulation, headed by Luke Mueller (Luka Müller). To work on the document involved the experts in the field of law, taxation, accounting, cybersecurity, and communications.

Oliver Bussmann expressed confidence that the Association of the document will give impetus to the Swiss authorities in the development of clear, understandable and flexible regulation of the legal status of ICO and produced tokens.

“The rapid development of release tokens has caused concern about the stability and security, and being a leader in this field, we are responsible for the support of the industry. The widespread distribution of this Code in conjunction with a thorough supporting regulation would ensure stability in the exciting, but uncertain trends in the blockchain”, — concluded Bussmann.

Recall that last year, there was a sharp growth of popularity of ICO by October of this form of capital raising projects have raised more than $3 billion For comparison, during all of 2016, this figure was less than $100 million But in December, analysts started talking about the decline of interest in the ICO.

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In the app Circle Invest added support for Monero

Blockchain startup Circle added in your application Invest support Monero — a cryptocurrency for increased privacy of transaction.

A week ago, on the Circle has integrated its investment platform zcash for differing similar qualities. In addition to these anonymous Aldona Invest in Circle, users have the bitcoin Cash Bitcoin, Ethereum, Ethereum Classic and Litecoin.

“Last week we welcomed the zcash for the family Circle coins Invest. Today we continue to build its offer enabling Monero as our new cryptocurrency listed asset,” wrote in a blog Circle senior Manager sales Rachel Mayer (Rachel Mayer).

She also added that the company is thinking about adding new assets and functions, and this information will be published shortly.

Earlier, Europol called anonymous cryptocurrency Monero, zcash for and Dash “serious problem” because they help the cyber criminals to cover their tracks. These altcoins are also of concern to financial regulators. It was reported that the financial services Agency of Japan puts pressure on the crypto currency exchange of the country, so they refused to support this cryptocurrency.

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The banking consortium will create a joint venture under the trade blockchain platform

A consortium of eight European banks will establish a joint venture under the developing trading platform based on blockchain technology.

Since January of this year, a group of seven banks (Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and UniCredit), together with IBM, began work on a draft Digital Trade Chain. The solution based on the technology of the distributed registry should bind the parties to the trade transaction: the buyer, the buyer’s Bank, the seller, the seller’s Bank and the carrier.

Later to the project as a co-founder joined the Bank Santander.

Now eight banks-founders are going to the end of the year to register in Ireland joint venture company, which will own, manage and distribute platform Digital Trade Chain. In addition, relying on further expansion and internationalization of the project, the consortium decided to rebrand. The platform was given a new name — we.trade.

“Commercialization of the platform is expected in the second quarter of 2018. From February 2018 Bank customers-founders will be able to use the platform in test mode”, — reads the statement of the consortium.

The project participants are confident that the new product will simplify the process of trade financing companies, solving the problems of managing, tracking and providing domestic and international trading operations.

We will remind, earlier it was reported that the Bank JPMorgan Chase has announced the launch of blockchain-platform Interbank Information Network (IIN) for interbank payments. A group of German banks conducted a successful test transaction with securities on the blockchain the platform Corda consortium R3.

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The mayor confirmed the start of the introduction of blockchain technology in the Metropolitan administration

Moscow authorities have started to implement blockchain technology in the public administration system of the Russian capital. As reported TASS, said the mayor Sergey Sobyanin at a meeting with students of REU them. Plekhanov:

We started to work with Federal authorities on behalf of the government… blackanese system for registration of real estate.

Because there are cases when your apartment who takes change of the owner, or your property carry out different frauds. Frankly, I do not know of such cases, but they have been in the history.

That such fears remove, and to make this system more advanced and secure, we are now with the Federal registration service are developing a program using blockchain technology.

Also the technology, he said, will begin to apply on the city portal “Active citizen”:

We have decided and are implementing the project “Active citizen” to the blockchain. So that the data on the “Active citizen” was not only our database but also in several other independent bases, then we know no one will say that we sort of tighten up, change the questions and interpret.

It is always possible to check, because she just is distributed not only in our but also in independent programs.

Recall that he has confidence in the implementation of blockchain technology in the management of the city in early November, said the Chairman of the Moscow city Duma Alexey Shaposhnikov. In the first place, in his opinion, the new technology should be used in urban services and portals. And the fact that the authorities of the Russian capital are working on the issue of providing private urban computing power to the blockchain of the first pilot project on the basis of the Rosreestr, it became known in mid-October.

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Large investors still prefer over-the-counter market purchase and sale of cryptocurrencies

At the time, as most people use the classic bitcoin exchanges for sale and purchase of bitcoin, institutional investors, operating large amounts of money are forced to sell the digital asset over the counter (OTC) market. According to the publication Forbes, crypto currency exchange not yet able to offer institutionalism secure infrastructure and the high level of liquidity.

Forbes spoke with representatives of the traditional market involved in the crypto-trading, and outlined their vision of actual CryptoRandom.

As is known, many exchanges limit the size of orders that forces you to split the transfer into many pieces when carrying out large transactions. Besides, on exchanges real risk of slippage when trades are executed at a price different from that specified. Many institutional investors are not willing to put up with these features.

Professionals believe that the OTC market eliminates such risks, is safer and does not impact directly on the course. Also OTC deski allow large traders to quickly hedge risks in the Fiat. Experienced OTC traders note the unreliability stabilio and emphasize that the opportunity to have Fiat on the exchange does not always mean that it can be withdrawn.

«Now, some members of the cryptocurrency industry organized a network of OTC sites, working in Skype, Telegram and even LinkedIn,» says Frank Wagner, managing partner of cryptocurrency investment company INVAO.
«On the structure of the OTC market at the moment is almost the only option for trading marketable digital assets. However, it is clear that the OTC market still is not the safest and most effective way cryptocurrency trading this is the reason that many institutional investors refrain from participating in cryptogra».

Institutional investors impose very severe requirements for trading venues compared to retail investors. As a rule, the money they invest is not their own, so institutionally have to follow strict internal and external regulations, ensuring maximum safety of all processes.

Many large participants in the OTC market agree — in order to trade on the OTC markets, you need to be confident in the broker. Meanwhile, they note that trust is good but control is even better. Especially when we are talking about the fabulous sums of money. In order for institutional investors to be able to feel comfortable making deals in bitcoin, even on the OTC-deckah, it is necessary to solve a number of issues:

  • First, in order for counterparties to manage risks efficiently has to be defined a single legal standard, which will follow each.
  • Second, the market needs a comprehensive and reliable trading infrastructure that would meet the requirements of institutional investors. OTCXN and Caspian are examples of companies that develop software systems for clearing and risk management when trading in cryptocurrency, which used traditional investors.
  • And third, according to some institutional investors, the bitcoin industry needs more professional blockchain trading company who understand the demands and culture of the institutional investors.

Still need serious regulatory work, a variety of custodial solutions and tools to protect bitcoin market manipulation, hacks and jumps of the course to institutional investors could feel confident and proceeded with more aggressive behavior, even in OTC cryptocurrency space.

«OTS regulated like a traditional stock exchange, but the industry still lacks many of the solutions in order to convince mainstream investors in its reliability.»

Recall that, according to the results of international research company TABB Group, is OTC market of bitcoin is much larger in volume than the global exchange market of crypto-currencies. According to them, OTC-deski worldwide processes more than $12 billion of bitcoin transactions per day on a regular basis.



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The Japanese DMM Group has launched a cryptocurrency exchange

Japanese ecommerce giant, DMM Group has launched a cryptocurrency exchange, announced in December 2017. The platform was named DMM Bitcoin. Bidding on it was opened on January 11. It is reported Bitcoin.com.

DMM supports 7 Bitcoin cryptocurrency (Bitcoin, Litecoin, Ether, Ethereum Classic, Nem, Cash, Bitcoin and Ripple) and 14 trading pairs.

To celebrate the launch, the exchange will distribute 1,000 yen (about $9) to all customers who sign up between 11 January to 11 March 2018.

According to a statement from DMM, the exchange operates a platform-Simplex Inc. – Simplex Cryptocurrency that offers trading tools for the average investor, business management systems and dealing systems.

Simplex provides a system of foreign exchange trading for big banks and financial companies such as SBI Holdings, GMO Group, Nomura Securities, Matsui Securities, Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank and Money Partners Group. Recently, the company began to offer a system cryptocurrency trading, DMM Group became the first client in this direction.

In the spring of 2018 DMM Group is preparing to launch yet another cryptocurrency exchange. This platform will be called Cointap, and will target inexperienced investors.

«Cointap is a service that will allow you to easily buy and sell the virtual currency from smartphones. It is best suited for those who want to start trading virtual currencies such as bitcoin. Because of the exchange of cryptocurrencies is still centered on services for those people who have the knowledge and experience in the field of cryptocurrencies, they are fashionable, but they’re hard to understand and use,» reads the statement of the DMM.

Recall that in September DMM Group announced the launch of a new activity associated with mining.

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