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Australia Financial Regulator Austrac Grants Coinzoom Bitcoin Exchange A License

A new exchange has been recently added to Australia. Starting from today, December 3, Coinzoom Australia is a new official crypto exchange in the country. The announcement was made soon after the digital currency exchange received the license from the Australian regulator Austract. With this new license, Coinzoom Australia will now operate legally in the whole extension of the country and will be able to lawfully offer its services to citizens. Coinzoom Australia will be a digital crypto exchange that will have fiat to crypto options and a support for some of the most high profile crypto assets like Bitcoin (BTC), Bitcoin Cash (BCH) and Ripple’s XRP token. Todd Crosland, the CEO of Coinzoom, has affirmed that being fully regulated and registered will help the company a lot and is an important step for Coinzoom Australia as the company is set to offer the best-regulated services in the country for both retail and institutional investors. The license was given by Austrac, the Australian Transaction Reports and Analysis Centre. The agency is run by the government of Australia and its main function is to monitor if the exchange and financial services in the country are compliant with the national law. It tracks evidence from organized crime, terrorism, illegal financial transactions and money laundering in the country, as well as fraud. Coinzoom Australia To Be Launched In 2019 Now, as the company has its so-awaited license to operate in the country, the launch if near. According to the original report, Coinzoom Australia will be launched in the first quarter of 2019 and any traders who are interested in using the services of the company will need to be compliant with both KYC (Know Your Customer) and AML (Anti Money Laundering) processes. Whitelisting is said to be quick but it will have to compliant with the laws from both Australia and the United States. This new platform was created to cater especially to the local investors of Australia and to give them a simple way to use their credit cards and bank accounts to trade cryptos. The company was also reported to offer some additional features like debit cards that offer rewards for being used, social trading capabilities and a pattern recognition system. About Coinzoom Coinzoom Inc is the main company that will run Coinzoom Australia. The company is self-described as “an institutional grade digital currency platform” that allows the users to trade their digital assets (mostly the top coins of the market like Bitcoin and Ethereum). The company is registered in all the 50 states of the U. S. and has started the process to offer remittance services in three American states: Florida, Maryland and Iowa. Australia, A Crypto Hub Slowly but surely, Australia is turning into a crypto hub. Even before Coinzoom Australia arrived in the country, many exchanges were already set there and were operating in a regulated way. The country is very enthusiastic about using the blockchain technology and a town in the county of Queensland has even claimed that it would become the first “digital currency town” with crypto payments in the whole country. As a lot of Australians use cryptos, it is expected that they will be increasingly regulated in the country and that more and more people will start to use them as well.
Bitcoin Exchange Guide

CoinZoom Subsidiary Officially Registered as a Digital Currency Exchange with AUSTRAC

SALT LAKE CITY, Dec. 3, 2018 /PRNewswire-PRWeb/ -- U.S.-based cryptocurrency exchange, CoinZoom, announced today that its wholly owned subsidiary, CoinZoom Australia, became officially registered as a Digital Currency Exchange with AUSTRAC. The Digital Currency Exchange registration allows the exchange to legally operate according to Australian law, and function as a cryptocurrency exchange that can accept and exchange fiat, digital assets, and any other cryptocurrency. CoinZoom Australia serves both Australian and International customers. CoinZoom, Inc. is positioned to serve U.S. customers and has registered as a Money Services Business in all 50 states with FinCEN and is in the process of securing Money Transmitter Licenses in states where it's required. Recently, CoinZoom received Money Transmitter Licenses in Florida, Full story available on Benzinga.com
Benzinga

AUSTRAC Investigates Cryptocurrency Exchanges

Australia’s financial regulator, the Australian Transactions Reports and Analysis Centre (AUSTRAC), is tightening up surveillance on cryptocurrency exchanges as sophisticated criminals leverage digital currencies to send money internationally. According to the ABC Radio Program broadcast on October 9, 2018, cryptocurrency exchanges in Australia are being investigated since global risks concerning money laundering, terror financing, and cybercrime are becoming increasingly large...Read More. The post by Cindy Huynh appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
BTC Manager

Australia’s Blockbid Exchange Granted Cryptocurrency License by Austrac

Blockbid is now registered with the Australian Transaction Reports and Analysis Centre (Austrac). This makes it only the third company granted permission to legally operate as a cryptocurrency exchange in Australia since new regulations came about last week. Also Read: Stanford, Wharton and Georgetown Expand Bitcoin Business Classes Cyber Insurance Austrac has approved an application by cryptocurrency exchange Blockbid, in accordance with the new regulatory powers given to it starting 3 April 2018. The platform’s main differentiating feature compared with most other marketplaces is providing insurance to users against any potential cyber-attacks. It also plans to offer the ability to trade with at least seven different fiat currencies in the next 6-12 months, with four available during an upcoming beta launch. David Sapper, COO at Blockbid commented: “Since its inception Blockbid has always wanted to put customers security and peace of mind at the forefront of building a one-for-all platform, allowing our users to trade with confidence. As a registered digital currency exchange in Australia we are looking forward to opening up our doors worldwide to all traders and investors who want to use a platform that is legitimate and provides asset insurance as well. This is a big step not only for the Australian cryptocurrency space but also for our company as it means that our vision to allow you to trade with confidence has been acknowledged by the Australian government under AML/CTF guidelines.” Beta Launch Blockbid also revealed further details about their beta launch, set to go live April 16th. It will begin with a limited number of users, who will explore the platform without trading real currency, and will continue until developers and users are satisfied with delivery. After upgrading the system based on user feedback and further testing, phase one of the beta launch will open to general the public. This will commence with five cryptocurrencies and four fiat currencies: bitcoin (BTC), bitcoin cash (BCH), bitcoin gold (BCG), litecoin (LTC), ripple (XRP), USD, AUD, JPY, and EUR. Lastly, many additional tokens will be introduced in phase two of the beta launch. Should Australians feel safer with local exchanges getting licensed by the authorities? Share your thoughts in the comments section below.  Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Australia’s Blockbid Exchange Granted Cryptocurrency License by Austrac appeared first on Bitcoin News.
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Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX

After partnering up with the firm behind the second largest coin XRP [XRP] Ripple as one of the +200 costumers, Mercury FX announced via their official twitter handle that they transacted their largest payment across RippleNet with a positive conclusion. 1/1 We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds. pic.twitter.com/WsHJuZTiOy — Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019 Using XRP, the firm transferred £3,521.67 or $4,552.41 while they cited that UK based Mustard Foods was able to save £79.17 and 31 hours on the transaction. Mustard Foods could be one of the best examples of the impact of using RippleNet could have as it opened doors to cheaper expenses, quicker orders and faster payments. As covered by John P. Njui on EWN a few days ago, The Ripple company has announced via its website that 13 new financial institutions have joined RippleNet thus propelling the number of total global customers to over 200. RippleNet currently operates in 40 countries across 6 continents. Out of the 13 aforementioned financial institutions, 5 are confirmed as using XRP to source instant liquidity for their cross border payments. The are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. By the end of this year [2018], major banks will use xRapid as a liquidity tool. By the end of next year [2019], I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity. – Brad Garlinghouse The success behind the team from Ripple could be standing by their marketing strategy and future plans of making the financial industry a better place to be. While not displacing traditional banking systems but helping them make payments cheaper and faster, it is finding its way to take spotlight in the crypto-verse. The post Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX appeared first on Ethereum World News.
Ethereum World News

BRD Wallet Expands Crypto User Access Across Europe With Coinify Partnership

Coinify, a European-based financial platform that provides a wallet, trading and payment processing solution, has announced that they are integrating BRD Wallet into their platform to deliver BRD wallet access to users across the European region.Specifically, the partnership provides access to virtual currencies, like bitcoin, to 34 countries across the Single Euro Payments Area (SEPA). The SEPA region is a collection of member states in Europe who are part of a payment system that simplifies bank transfers denominated in EUR. The launch is also enabled largely in part by Coinify’s newly rebranded trading solution for wallet partners.Customers will now be able to use BRD Wallet to “purchase bitcoin at cost-efficient rates with SEPA bank transfers” within Coinify’s trading platform. With BRD integration, customers will also retain control over their private keys while using Coinify.Essentially, this provides a large number of users with an efficient and secure way to buy bitcoin and other cryptocurrencies, and then allows them to immediately store it in a manner where they control what happens to their money. Typically, a user will entrust the custody of their private keys to a centralized exchange while they are waiting for trades to be executed and sometimes for much longer than that.Aaron Lasher, co-founder and chief strategy officer at BRD, highlighted the advantages of the integration for security-focused users of the Coinify platform.“We like exchanges and think security will get better in the future, but by using our integrated purchase and trading solutions, you get to keep your funds under your control 99 percent of the time, and only put them at a slightly higher risk for a short period when you make the exchange,” Lasher told Bitcoin Magazine.“Using a non-custodial wallet means that you and you alone control your funds. It’s similar to having physical cash in a (highly secure) safe at home. Only in this case, we provide our customers a digital safe (the BRD wallet) that they can keep in their pocket and carry along. Nobody else in the world has access to your funds but you, and nobody can stop you from sending or receiving funds.”Integrating a wallet that allows users to own their funds and seamlessly make trades on a platform like Coinify could help to push bitcoin adoption forward."The financial industry is ripe for disruption and we see bitcoin and the other virtual currencies as the future of payments,” said Rikke Stær, chief commercial officer at Coinify, told Bitcoin Magazine. “At Coinify, we have experienced first-hand the rising adoption of bitcoin and working with BRD as a user-friendly, decentralized wallet will only encourage the global reach of the currency."“Since launching as the first iOS bitcoin wallet in the App Store over 4 years ago, we’ve grown tremendously in North America,“ Adam Traidman, CEO and co-founder of BRD, said in a statement. “Europe will be strategic in the next phase of BRD’s global growth, and the partnership with Coinify will ensure our success in this crucial endeavour.”In August 2018, Canadian-based Coinberry exchange launched a similar BRD integration, allowing users to quickly and seamlessly buy, deposit and withdraw bitcoin on the Coinberry platform, while keeping control of their keys at all times. This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 Major cryptocurrency payment service provider BitPay has reported $1 billion in transactions this past year, according to a press release Jan. 16. According to the report, the company also set a new record for itself in terms of transaction fee revenue. […] Cet article Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 est apparu en premier sur Bitcoin Central.
Bitcoin Central
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