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Financial news updates from John Lothian News.

trueDigital Launches Bitcoin and Ether Reference Rates and Indices Standard

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trueDigital Launches Bitcoin and Ether Reference Rates and Indices; Provides the transparency and confidence needed to enable institutional-grade derivative products trueDigital Holdings trueDigital Holdings (“TDH”), a leading developer of institutional-grade digital asset trading solutions, has partnered with 10 liquidity providers and contributors including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer and Altonomy to create the first market maker based Bitcoin and Ether pricing indices. The launch of the trueDigital Bitcoin and Ether reference rates sets a new standard for the digital asset market and allays common concerns about the robustness and lack of transparency inherent in retail exchange-based…

Derivatives veteran and market makers combine to launch cryptocurrency reference rates Standard

Derivatives veteran and market makers combine to launch cryptocurrency reference rates; Bitcoin and Ether reference rates and indices launched by cryptocurrency liquidity providers and trueDigital Holdings. Jon Watkins – The Trade A new set of Bitcoin and Ether reference rates and indices have been launched by trueDigital and 10 market makers including Genesis Global Trading, Circle and Hehmeyer. /jlne.ws/2LoD3X3 Surrey Police get budget boost after £1.25m bitcoin seizure Caroline Binham – Financial Times Surrey Police has become the first UK force to seize and convert bitcoin as part of a criminal probe, netting £1.25m worth of the cryptocurrency, some of…

YCharts Seeks to Turbocharge Growth; Adds TT’s Michael Kraines to the Board Standard

When YCharts sought to fill their open board seat, they were looking for someone who could help this Chicago Fintech success story continue its robust growth and maybe help turbocharge it. They found the answer in an executive from another Chicago fintech success story, Michael Kraines, President and CFO of Trading Technologies. YCharts sits in a sweet spot competitively: less expensive than some of the dominant players like Bloomberg and Thomson Reuters, and having more functionality for its wealth advisor clientele than the free offerings from Google or Yahoo Finance. With an easy to use, intuitive interface, as well as…

Former CFTC chairman says underlying crypto cash market is ‘a mess’ Standard

Former CFTC chairman says underlying crypto cash market is ‘a mess’; Gary Gensler urges US financial authorities to decide which regulator should regulate crypto markets. Hayley McDowell – The Trade Crypto The former chairman of the top US derivatives watchdog has urged Congress to establish who should regulate the cryptocurrency cash market which underlines securities and derivatives. /jlne.ws/2uMq7jm Mastercard Wins Patent for Speeding Up Crypto Payments Christine Kim – Coindesk Mastercard won a U.S. patent on Tuesday for a method of speeding up cryptocurrency payments. The document, published July 17 by the U.S. Patent and Trademark Office (USPTO), explains that…

Timely Capital Relief Comments From Fed Chair Powell or: The Options Market Stability Act Was On TV! Standard

During Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill, Rep. Randy Hultgren asked Chairman Powell about targeted capital relief for bank-affiliated clearers of options liquidity providers. Recall that Rep. Hultgren authored legislation – the Options Market Stability Act – that just passed the House. That legislation seeks to provide relief for clearers by directing banking regulators “to consider a number of items including the availability of liquidity, the economic value of delta weighting and netting of positions, safety and soundness of financial institutions and overall financial stability. The legislation also requires the Federal Reserve to submit a report to…

Lost your bitcoin password? Call in the crypto-hunters Standard

Lost your bitcoin password? Call in the crypto-hunters; About $25bn worth of bitcoin is floating out there in the ether, lost or ‘probably lost’ Hannah Murphy – Financial Times Three-and-a-half years ago, Roger Ver, a bitcoin evangelist so vocal in his support for the cryptocurrency that he was nicknamed the Bitcoin Jesus, showed me how to set up my own online bitcoin wallet. He rounded off his demonstration by giving me £5 worth of the currency. One day, he said, my holdings would be worth more than £1,000. /goo.gl/XTwxGH Coinbase Says It Was Wrong About SEC Approval of Acquisitions Lily…

New York State Department Of Financial Services Grants Virtual Currency License To Bitpay, Inc. Standard

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New York State Department Of Financial Services Grants Virtual Currency License To Bitpay, Inc. Mondovisione Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of BitPay, Inc. for a virtual currency license. BitPay is authorized to offer clearing and settlement services to merchants willing to accept payment in bitcoin or issue payments in bitcoin, and is the first wholesale payments processor to be approved for a license. /goo.gl/EBeKHx Coinbase Says It Has Green Light to List Coins Deemed Securities Lily Katz – Bloomberg SEC, Finra sign off…

Bitcoin Was Russian Hackers’ Currency of Choice, U.S. Says Standard

Bitcoin Was Russian Hackers’ Currency of Choice, U.S. Says Lily Katz – Bloomberg Digital coin allegedly used for payments during election; 12 intelligence officers indicted by U.S. special counsel For years, Bitcoin believers have tried to distance the digital coin from the perception that it’s only used for criminal activity. New insights into Russian meddling in the U.S. election aren’t helping. /jlne.ws/2uD8r9Y Hong Kong launches blockchain-based trade finance Don Weinland – Financial Times Hong Kong’s de facto central bank will go live next month with a blockchain-backed trade finance platform set to link up with 21 banks, including HSBC and…

The Fight Over Mt. Gox’s Bitcoin Stash Standard

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The Fight Over Mt. Gox’s Bitcoin Stash; Hundreds of thousands of Bitcoins went missing from the busted exchange. Who gets the leftover digital currency? Tom Redmond, Min Jeong Lee – Bloomberg An April 7, 2017, photo shows a sign informing customers that Bitcoin can be used for payment at a store in Tokyo. PHOTOGRAPHER: TORU YAMANAKA/GETTY IMAGES Mark Karpelès learned in June that he’s probably not going to become a Bitcoin billionaire. He calls that good news. If it had happened, he says, he would have been “one of the most hated people on Earth.” And Karpelès already has plenty…