#CryptoCorner: #Japan’s LINE to Launch #BITBOX Exchange, South Korea Publishes New Regulations, #Huobi Expands to London and #Binance Opening in Uganda
#CryptoCorner: #Japan’s
LINE to Launch #BITBOX Exchange, South Korea Publishes New Regulations, #Huobi
Expands to London and #Binance Opening in Uganda
Point Roberts, WA, Delta BC – June 28, 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.
Crypto Corner – June 28, 2018
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/06281LINE-BitBox-Huobi-Binance.asp
Japan’s LINE to Launch BITBOX Exchange, South Korea Publishes New Regulations,
Huobi Expands to London and Binance Opening in Uganda
Japanese messaging app, LINE, announced today plans to launch a cryptocurrency exchange called BITBOX. The
exchange is set to launch in July 2018 and will be available internationally
except in Japan and the U.S. The announcement boasts that BITBOX will offer “at
least 30 different cryptocurrencies such as Bitcoin (BTC)” and “15 languages
except Japanese”.
South Korea’s top financial regulator, the
Financial Services Commission (FSC) has published a new set of guidelines as a regulatory framework for cryptocurrency
exchanges. Focusing on anti-money laundering (AML), the guidelines highlight
the principles of Customer Due Diligence (CDD) and Enhanced CDD (EDD).
The financial company should confirm the identity
information such as the real name of the counterparty of the financial
transaction (confirmation of the customer), and if the customer is concerned
about the money laundering activity, the transaction purpose and fund source
should be additionally confirmed Confirmed customer)
Chinese crypto exchange giant Huobi will be
expanding to London and has confirmed over-the-counter (OTC) trading to start
in Q3 of this year, according to a report on Cointelegraph. Following the lead of exchanges like Binance, Huobi has made expansion
into Europe one of its top priorities.
“London was
selected as the first office in Europe, due to its preeminence as a global
financial center and the largest cryptocurrency trading centre in the region
with an active blockchain community and fast developing market,” the exchange wrote
in praise of the local UK landscape.
In another exclusive with
Cointelegraph, Changpeng Zhao, CEO and founder of Binance, has announced that
the exchange giant will be expanding to Uganda. Zhao indicated the state of
Ugandans relationship with banking and how it may be ideal for crypto adoption.
“Uganda [is a]
really interesting situation, only 11 percent of the population has bank
accounts. It’s both a challenge and an opportunity. So it may be easier to
adopt cryptocurrency as a form of currency instead of trying to push for bank
adoption. It’s an interesting experiment - Africa’s a big market, that’s why
we’re there.”
Sam Mowers, Investorideas
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