#CryptoCorner: #XRP Discrepancy with Coinbase Framework, SoFi Partners with Coinbase for Crypto Trading, Bahrain Announces Regulatory Framework and Japan’s Mizuho to Launch Digital Currency on March 1
#CryptoCorner:
#XRP Discrepancy with Coinbase Framework,
SoFi Partners with Coinbase for Crypto Trading, Bahrain Announces Regulatory
Framework and Japan’s Mizuho to Launch Digital Currency on March 1
February 27th #CryptoCorner and Podcast
sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange
and Wallet App @GenesisBlockch
Point Roberts, WA, Delta BC February 27,
2019 - Investorideas.com, a leader in
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February
27
Crypto Corner
XRP Discrepancy with Coinbase Framework, SoFi Partners
with Coinbase for Crypto Trading, Bahrain Announces Regulatory Framework and
Japan’s Mizuho to Launch Digital Currency on March 1
The announcement yesterday of XRP’s inclusion onto
the Coinbase Pro platform has met with some controversy. Blockchain newsletter Diar identified a
discrepancy between Coinbase’s Digital Asset Framework, which requires that
"the ownership stake retained by the team is a minority stake," and
Ripple, whose team “holds nearly 60% of the supply in escrow with a release
schedule.”
Speaking of
Coinbase, CNBC reports that the
crypto exchange giant has partnered with online finance startup SoFi to
facilitate crypto trading on the latter’s platform in the second quarter of
this year. Under the name SoFi Invest, customers will be able to monitor
prices, trade cryptocurrencies and take advantage of "active"
investing with the help of a broker and automated, or "robo" advising. SoFi CEO
Anthony Noto said:
"Our target audience wants to see what
the price of cryptocurrency is, and to buy it. They have a desire to do that
and in many cases they already are."
An official
statement
from their central bank reveals that Bahrain has completed final rules
regulating the crypto space. The legal framework covers licensing, governance,
minimum capital, control environment, risk management, anti money-laundering,
countering financing of terrorism, standards of business conduct, avoidance of
conflicts of interest, reporting,cyber security for crypto-asset services, and
supervision and enforcement standards. Khalid Hamad, the executive director of
Banking Supervision said:
“We will continue to enhance our regulatory
framework in order to keep pace with the innovations taking place in the major
financial centres around the globe. The CBB’s introduction of the rules relating
to crypto-assets is in line with its goal to develop a comprehensive rules for
the FinTech eco-system supporting Bahrain’s position as a leading financial hub
in the MENA region.”
Nikkei
Asian Review
reports that Japanese banking giant Mizuho Financial Group will launch a
digital currency service on March 1. Known as the J-Coin, the megabank’s crypto
will be pegged to the Yen. Mizuho will work with 60 other financial
institutions in the country comprising 56 million user accounts with digital
wallets that can store J-Coin.
Sam Mowers, Investorideas
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