#CryptoCorner: UK's Financial Regulator Publishes #Crypto Consultation Paper, #Ripple Partners with Beijing University for Blockchain Scholarship
January 23rd #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - January 23, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
UK's Financial Regulator Publishes Crypto Consultation Paper, Ripple Partners with Beijing University for Blockchain Scholarship, Bithumb Looks to Go Public in US Through Reverse Merger and Xapo to Exit Hong Kong in Favour of Better Regulations in Switzerland
Stocks discussed: (OTC:BCII)
The UK's financial regulator, the Financial Conduct Authority (FCA), today released a consultation paper titled: Guidance on Cryptoassets. The aim of this publication is to "provide regulatory clarity for market participants carrying on activities in this space". This consultation process closes on April 5, 2019 and a complete policy statement of the space will be released in the summer of 2019. A summary of this publication's goals reads:
The final Guidance will enable firms to understand whether certain cryptoassets fall within the regulatory perimeter. This should allow firms to have increased certainty around their activities while meeting our own regulatory objectives of consumer protection, enhancing market integrity and promoting effective competition in the interest of consumers. We encourage firms to seek expert advice if you are unsure whether the products you offer fall within the regulatory perimeter.
A recent press release indicates that Ripple has partnered with Tsinghua University's Institute for Fintech Research in Beijing to launch the Blockchain Technology Research Scholarship Program (BRSP) for graduate students in China. Ripple SVP of Global Operations Eric van Miltenburg commented:
"We are very impressed with THUIFR [Tsinghua University] for taking a unique and innovative approach to engaging China's young leaders in the blockchain space. The program's goal - to provide students with opportunities in blockchain research - closely aligns with that of Ripple's University Blockchain Research Initiative; we're thrilled to support THUIFR [Tsinghua University] in this endeavor and look forward to its launch."
CNBC reports that Singaporean crypto exchange Bithumb is looking to go public in the U.S. by acquiring publicly traded holding company Blockchain Industries (OTC:BCII). Sources informed CNBC that Bithumb plans to up-list from the OTC markets to the New York Stock Exchange or Nasdaq after the reverse merger. Following the acquisition, Blockchain Industries will be renamed Blockchain Exchange Alliance.
Bitcoin services provider Xapo is relocating from Hong Kong to Switzerland for preferable regulations, according to SwissInfo. The article quotes Xapo president Ted Rogers from the World Web Forum in Zurich:
"It was once thought that Hong Kong was the holy grail of crypto regulations. But it has become more opaque."
"It's a reality of this industry that you have to be agile and react to regulatory changes all the time. Swiss regulators are smart, interested and sophisticated in dealing with the financial markets."
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