Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for March 11, 2020. In the UK this morning, the Bank of England cut interest rates by 50 basis points to 0.25% in a near unprecedented step, taking them back to a record low level not seen since…
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Blockchain.com, cryptocurrency products provider, just launched its new product offering – Borrow which allows users to borrow USD-denominated stablecoins against crypto assets. It is the first major crypto platform to offer lending directly to everyday consumers. Last August Blockchain.com launched institutional lending desk which quickly expanded originations from $10M in the first month to $120M…
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Copper.co, London-based institutional custody and brokerage firm, announced its partnership with SFOX, US prime cryptocurrency dealer. Copper’s institutional clients will benefit from SFOX’s integration and use secure access to its best price execution platform and global liquidity. SFOX’s clients will be able to take advantage of the secure custody and settlement architecture developed by Copper’s…
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US-based crypto exchange, Kraken, announced its intention to grow its operation in the Indian market following the recent ruling of the country’s Supreme Court to lift the ban against banks doing business with crypto companies. Kraken growth in India was until recently hampered by the Reserve Bank of India (RBI) ban. However, the company do…
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Avelacom expands to a wider variety of cryptocurrency markets, making it easer for institutions to take advantage of arbitrage and other latency sensitive strategies. Global connectivity and IT infrastructure provider, Avelacom, launched a new point-of-presence (PoP) in Ashburn, Virginia, with direct connectivity to Amazon AWS US – East–1 region. Its most popular route for cryptocurrency…
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FXCM Group, LLC, international foreign exchange trading, CFD trading, cryptocurrencies and related services provider, announced its expansion into equity trading with the launch of a commission-free trading service in collaboration with Interactive Brokers. Equity trading is one of the most popular investment securities for retail traders. FXCM will create a dedicated online and mobile trading…
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Looking back at the most intriguing and popular Forex industry news from the past week at LeapRate. Jan Kotowski, X Open Hub’s International Business Developer and a financial market enthusiast and individual trader with over 11 years of experience joined LeapRate to discuss the year ahead for X Open Hub, key traders’ demands in 2019…
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The Swedish Minister of Foreign Affairs Ann Linde has urged Ukraine to take action against the alleged cryptocurrency fraud operation targeting vulnerable inexperienced investors in Sweden, Australia, New Zealand and UK. Swedish national newspaper Dagens Nyheter (DN) exposed the so-called “fraud factory”, operating from Kyiev after investigation. Ukraine-based Milton Group allegedly defrauded investors by offering…
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United Kingdom Financial Conduct Authority (FCA) quickly took down an official warning against Kraken after apparent confusion but alert about BitMEX remains active. The UK watchdog published a notice on its website on 3 March to warn citizens against Kraken. The warning stated that the second-largest U.S. cryptocurrency exchange by volume is not authorized to…
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Ukraine’s revenue agency has published guidance for taxpayers to report their digital assets holdings as intangible property, similar to intellectual property or licenses for natural resources extraction. Cryptocurrency is indicated in the guidance in accordance with the Financial Action Task Force (FATF)'s definition – as a virtual unit with value that can be traded and…
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