#CryptoCorner; Philippines to Allow Crypto Trading in Economic Zone, #Binance Records Higher Profits than Germany’s Biggest Bank and Chile Reopens Crypto Exchange Accounts
#CryptoCorner; Philippines
to Allow Crypto Trading in Economic Zone, #Binance Records Higher Profits than
Germany’s Biggest Bank and Chile Reopens Crypto Exchange Accounts
Point Roberts, WA, Delta BC – April 26 , 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
By Samuel Mowers at Investorideas.com
Read in full at http://www.investorideas.com/news/2018/crypto-corner/04261PhilippinesBinanceChile.asp
Philippines to Allow Crypto Trading in Economic Zone, Binance Records
Higher Profits than Germany’s Biggest Bank and Chile Reopens Crypto Exchange
Accounts
The Philippines is allowing cryptocurrency
exchanges to open in a special economic zone of the country according to a
report in Reuters. The area is known as the Cagayan Economic Zone Authority (CEZA), and
the businesses operating within it will be able to mine crypto, set up ICOs or
exchange:
““We are about to licence 10
platforms for cryptocurrency exchange. They are Japanese, Hong Kong,
Malaysians, Koreans,” Raul Lambino, chief of the Cagayan Economic Zone
Authority (CEZA), told Reuters.
“They can go into cryptocurrency
mining, initial coin offerings, or they can go into exchange,” Lambino said.”
A CCN piece made the observation that cryptocurrency giant Binance is
more profitable than Germany’s Deutsche Bank. In Q1 of 2018, Binance, less than
a year old, recorded a profit of $200 million USD against $146 million by
Deutsche Bank.
“Binance,
a cryptocurrency startup that was non-existent merely 8 months ago beat out a
leading bank that was established 148 years ago. A startup with 200 employees
beat out a banking giant with 100,000 employees.”
In Germany,
securities trading bank VPE WertpapierhandelsBank AG has begun trading
cryptocurrencies according to a press release
yesterday. Public
Relations Manager at VPE, Katharina Strenski, said the crypto had matured as an
asset class and that VPE will be Germany’s first bank to trade crypto.
"Cryptocurrencies
such as Bitcoin, Litecoin, Ethereum and others have become a promising asset
class in recent years. To date, trading digital tokens has been restricted to
crypto exchanges and online marketplaces. We are pleased to be the first German
bank to offer our customers cryptocurrency trading services."
Buda, a Chilean
cryptocurrency exchange, is having its previously closed accounts reopened
after a court decision according to a report in Bloomberg.
“Chile’s
anti-monopoly court ordered Banco del Estado de Chile and Itau Corpbanca to
re-open Buda’s accounts while the exchange’s lawsuit continues against 10
banks, including these two, according to the ruling published on the court’s
website. Buda sued after what it said was “arbitrary” and “unjustified” closing
of its accounts.”
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