Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures

Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures

The South Korean government has announced the outcome of its inspection of 21 cryptocurrency exchanges. While a number of exchanges have completed implementing both short-term and wallet management measures, many security vulnerabilities remain at most exchanges.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

21 Exchanges Inspected

Korean Government: 11 out of 21 Crypto Exchanges Complete Security MeasuresSouth Korea’s government has announced the result of its mid-term review of 21 cryptocurrency exchanges. The inspection was conducted in June and July by the Korea Internet and Security Agency (KISA) and the Korean Ministry of Science and Technology.

KISA security experts visited each exchange to check on the 85 items identified during its previous crypto exchange inspection, conducted between January and March. They focused on 17 items which needed immediate implementation; six were short-term measures and 11 concerned crypto wallet management.

Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures“Intermediate checks were carried out in such a way as to confirm whether improvements had been made, focusing on the 17 security items recommended for quick action,” the government explained. These items include dedicated security and management staff, a password management system, crypto deposit and withdrawal controls, and a system to monitor wallets for abnormalities.

The agencies revealed that 11 out of 21 exchanges have completed the short-term measures. In addition, eight of them have also improved their wallet management systems. The eight are Upbit, Bithumb, Korbit, Coinnest, Coinlink, Coinone, Coinplug, and Huobi Korea, local media detailed. The government reiterated:

In the management of virtual currency wallets, most of the vulnerabilities in the business have not yet been improved.

Furthermore, twelve companies have been found to have insufficient security procedures to prevent data leakage and loss of funds from their cold wallets. Ten companies have inadequate systems to monitor hot wallets for suspicious activities. In addition, at least ten businesses lack wallet backup and recovery measures.

Further Inspections Planned

The final check on the implementation of recommended measures will be carried out next month, the agencies noted, adding that any new crypto exchanges will also be inspected.

Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures“Because of the weak security of virtual currency exchanges, we should be careful in investing,” Kim Jong-sam, a spokesperson for the Ministry of Information and Communication, commented. “We will continue to check virtual currency exchanges to improve security.”

Referencing the hack of Coinrail and Bithumb in June, KISA described that “the leakage of virtual currency due to the hacking of recent dealers has directly led to the damage of users,” adding that after checking 85 security items, “there are many dealers with low security.”

Emphasizing that they have been asking crypto exchanges to “improve security levels by completing the recommendations for improvement,” the agencies revealed:

We plan to support the improvement of the security level of the dealers through continuous inspection of the dealers.

What do you think of the Korean government’s review? Let us know in the comments section below.


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Huobi Launches Partner Exchanges in Russia, Philippines, Taiwan, Indonesia, Canada

Huobi Launches Partner Exchanges in Russia, Philippines, Taiwan, Indonesia, Canada

Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada. Partners “share Huobi’s order integration system, wallet system, asset management and clearing systems.” The exchange in Manila has launched with trading in three markets with over 40 trading pairs.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Five Partners, Five New Exchanges

Chinese digital asset and service provider Huobi has announced that it has chosen five partners to launch cryptocurrency exchanges in five regions.

Huobi Launches Partner Exchanges in Russia, Philippines, Taiwan, Indonesia, CanadaHuobi is one of the world’s largest cryptocurrency exchanges, with a 24-hour trading volume of $915,183,234 at the time of this writing, according to Coinmarketcap. With offices in Singapore, the U.S., Japan, South Korea, Hong Kong, Thailand, and Australia, Huobi claims to serve millions of users in over 130 countries.

The five partners are Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings (AIF) and Dbank Group, according to South China Morning Post. Each partner will utilize Huobi Cloud to set up a new cryptocurrency exchange in “the Philippines, Russia, Taiwan, Indonesia and Canada, respectively,” the publication added.

Huobi clarified on Thursday:

Corporate partners also share Huobi’s order integration system, wallet system, asset management and clearing systems; in addition to Huobi Global’s world-leading depth, liquidity and market data.

The company officially launched Huobi Cloud on July 20, aimed at “enabling its partners to build secure and stable digital asset exchanges quickly.”

Launch Schedule

Huobi has provided a rough schedule for when the new exchanges will be launched by its partners. The exchange in Bali, Indonesia, will be launched on August 22. The one in Taiwan will be called Shubao Digital Asset Exchange and will be launched on August 26. The one in Moscow will be launched on September 3. The company has not provided the launch date for the exchange in Canada at press time.

The only exchange that has already been launched by one of the above partners is in the Philippines; it is called Huibi. Launched on August 12, it is headquartered in Manila and co-founded by Ya Tai International Holding Group.

Huobi Launches Partner Exchanges in Russia, Philippines, Taiwan, Indonesia, Canada
Huibi exchange in the Philippines.

Huibi lists three markets on its platform: USDT, BTC, and ETH. Eight trading pairs are available for the USDT market, seven for the BTC market, and 26 for the ETH market. There is no fiat support.

Huobi is also expanding its presence in the U.S. On Wednesday, August 15, the company announced that it “has entered into a strategic partnership, including a significant investment” with Openfinance Network, a US compliant security token trading platform launched earlier this summer. This follows Huobi’s recent attempt to enter the US market with the launch of Hbus exchange.

What do you think of Huobi and its partners launching exchanges in these countries? Let us know in the comments section below.


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Binance Argues it Does Not Charge 400 Bitcoin For Listing, CEO Clarifies

Changpeng Zhao, the CEO of Binance, has officially stated that the company does not charge 400 bitcoin ($2.5 million) to list cryptocurrencies on its platform. Legitimacy of the Claim Last week, cryptocurrency researcher Christopher Franko claimed that Binance, the world’s largest digital asset exchange, has been charging cryptocurrencies a listing fee of 400 BTC to

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Bitcoin Price Retreats 2% as Crypto Market Continues Decline, $8 Billion Dropped

In the past 24 hours, the crypto market dropped $8 billion as major digital assets including Bitcoin, Ether, and Bitcoin Cash recorded losses in the range of two to five percent. Bitcoin Cash and Stellar recorded the largest losses amongst the top ten cryptocurrencies, while Ripple and EOS remained relatively stable with a one percent

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Huobi Informs Users on Decision to Launch P2P Trading in India

Huobi Informs Users on Decision to Launch P2P Trading in India

Following several announcements of plans for global expansion, this week crypto exchange Huobi has reportedly informed Indian users of its intentions to present them with a P2P platform that allows trading in Indian rupee. The email notice published by local media promises zero transaction fees for exchanging BTC, ETH, and USDT.

Also read: 3 Million Brits Invested in Crypto via Exchanges, Few Sought Advice

Reports: Huobi to Launch P2P Platform for Indians

Cryptocurrency exchange Huobi has announced in an email to Indian users its decision to offer peer-to-peer trading services in their country, local crypto media reported. The notice states that they will be entitled to zero transaction fees for trades in bitcoin core (BTC), ethereum (ETH), and tether (USDT). Users will be able to buy and sell these cryptocurrencies with support for transactions in Indian rupees (INR), according to a copy of the correspondence published by Crypto News, India.

The exchange says that “[…] we do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users: Huobi OTC – a proprietary peer-to-peer (P2P) platform that allow[s] users and merchants to trade digital assets with your local currencies.” The crypto company also notes that “every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR.” Customers are also advised to transfer to Huobi Global if they want to trade more cryptocurrencies with high liquidity.

Huobi Informs Users on Decision to Launch P2P Trading in India

The announcement was made after Huobi recently sent a questionnaire to its Indian users. In another email, the exchange also invited them to become “Global Merchants”. The message read, “After becoming a global merchant of Huobi OTC, you will be entitled to: post-fiat-to-token advertisements to gain more earnings during “Buy & Sell” processes; enjoy zero transaction fee and obtain 24/7 customer support.”

The launch of the Indian P2P platform has yet to be officially announced by Huobi with a release expected on its social media channels. However, the authenticity of the emailed message has been confirmed already by a spokesperson reached by Crypto News: “For OTC supports INR currency. Yes. It’s legit,” the representative is quoted as saying.

Peer-To-Peer Trading Expands After Ban, Before Regulation

Huobi’s announcement comes in difficult times for the Indian crypto community. In recent months, Indian companies and individuals working with cryptocurrencies had to deal with a bank crackdown that followed a ban imposed by the Reserve Bank of India, the country’s central bank. The measure came into force on July 5, after the Supreme Court upheld it in a hearing on July 3, when it did not grant a stay before the compliance deadline, and then in another one on the 20th, when it did not overturn the ban. The final hearing on the matter was scheduled for September 11.

In April, the RBI ordered regulated financial institutions to quit providing services to entities and citizens dealing in cryptocurrency. The restrictions have since forced Indian crypto exchanges to suspend fiat transactions and offer crypto-to-crypto trading options. Comprehensive regulatory guidelines are expected in September, as news.Bitcoin.com reported earlier this week. A draft has been prepared already and consultations are underway to finalize the framework.

Huobi Informs Users on Decision to Launch P2P Trading in India

Until the important decisions are made this fall, P2P platforms are offering a viable option for Indian traders who want to exchange cryptos with rupees. Cryptocurrency exchanges, Koinex and Wazirx, are already offering peer-to-peer trading services.

If Huobi fulfills its promise to Indian users, the launch of its P2P platform will become the latest in a series of moves aimed at expanding its global reach. Huobi’s plans include Europe, Asia, America, and Australia. In June, the Singapore-based exchange confirmed its intentions to open an office in London. In early July, the third largest crypto trading platform launched a platform in Australia with 10 pairs against the AUD. Huobi is also eyeing opportunities in Toronto, San Francisco, and São Paulo.

Do you trade cryptocurrencies on P2P exchanges? Share your thoughts on the subject in the comments section below.


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BCH Roundup: Markets Spike While the Community Debates Token Protocols

BCH Roundup: Markets Spike While the Community Debates Token Protocols

There’s been a lot happening this week within the Bitcoin Cash (BCH) ecosystem, and much of the community’s discussion revolves around tokenization concepts on the BCH chain. Meanwhile, the network has been running smoothly, and BCH markets seem to be reversing their trend after cryptocurrencies values were experiencing bearish sentiment for the past six months.

Also read: Ross Ulbricht Joins Twitter

This Week’s BCH Network and Market Action   

In twelve days the Bitcoin Cash community will be celebrating the anniversary of the blockchain split that occurred last year on August 1. There’s been a lot going on within the BCH environment as far as infrastructure support and development. At the time of publication, the BCH chain is 7,031 blocks ahead of the Bitcoin Core (BTC) chain and BCH is operating at 12.47% of BTC’s difficulty. There are roughly 13 mining pools three of which are unknown and the BCH hashrate over the past seven days has been between 4.3 to 4.9 exahash per second. There have also been a few big blocks processed recently like one that measured 7.9 MB and was mined by Viabtc.

BCH Roundup: Markets Spike While the Community Debates Token Protocols

BCH markets this week have done well as the cryptocurrency’s value is up 19.5 percent over the last seven days. Today on Thursday, July 19 at 2 pm EDT the digital asset is worth $814 per BCH. Right now BCH has a $14Bn market valuation and it’s seeing $700Mn to $900Mn in daily trade volumes. The top BCH exchanges today include Coinex ($84.84 Mn), Huobi Pro ($83.15 Mn), Okex ($70.45 Mn), Binance ($59.14 Mn), and Hitbtc ($36.41 Mn). The top currency today paired with BCH is tether (USDT) commanding 47.7 percent of BCH trades. This is followed by BTC (29.9%), USD (11.2%), KRW (3.1%) and ETH (2.9%).

A Flurry of New Tokenization Projects and the Criticism Against OP_Return Token Systems

This week there were three tokenization projects announced that aim to add more depth to the Bitcoin Cash network. The first project revealed was called ‘Wormhole’ which is a fork of Omni Layer and is reportedly being developed by Bitmain developers. The next two projects announced is a Color Coin protocol implementation designed by the Cryptonize.it developers and also the Simple Ledger Protocol paper written by six well known BCH developers. However, the following day after these two ideas were made public a new discussion revolving around the flaws of OP_Return operations.

BCH Roundup: Markets Spike While the Community Debates Token Protocols

One blogpost on Yours.org, fully critiques the two papers that utilize OP_Return within their framework and further states that there is no friendly, simplified payment verification (SPV) support. The writer @lawn states that token systems that rely on BCH OP_Return operations must choose from reduced SPV wallet security, light wallet based validation, and trusted third-party validation or a combination.  

“I think token schemes based on OP_Return is a dead end and we should focus our energy on miner validated and fully SPV capable tokens,” explains the critique. “Thus far only GROUP fits the bill,” the writer adds.

Bitcoin Unlimited’s Andrew Stone Analyzes the Tokeda Project

BCH Roundup: Markets Spike While the Community Debates Token Protocols
BU’s lead developer Andrew Stone.

Then on Wednesday the lead developer for Bitcoin Unlimited (BU) Andrew Stone published a paper that reviews the Tokeda paper written by Joannes Vermorel. Stone’s ‘Tokeda Criticism’ says that the “Early Draft: Incomplete” paper written by Vermorel has been presented as a viable option against GROUP so it should be analyzed. The BU developer concludes that a lot of specifics within the Tokeda idea are general and unspecified and further would likely require some sort of “authority-based system.”    

“Although much of Tokeda is completely unspecified, it seems to propose a system where token holders control a UTXO that should only be spent to the issuer, who has the opportunity to apply arbitrary policy before forwarding the spend to its actual destination — It is, therefore, an authority-based, SPV capable system,” Stone’s criticism explains.   

However, it ineptly deploys the power of authority-based systems resulting in problems easily solved by other authority systems. By placing its UTXO on the blockchain, and requiring 2 transactions per transfer, it compares very unfavorably with respect to scalability with many other token proposals, including the permissionless Group tokenization. Authority-based tokens should be able to do much better in their ability to shard the UTXO.  

Stone continues, “For example, authority-based extension block systems such as FSHblocks can move all token transfers completely off-chain — out of history AND UTXO. The only on-chain transfers required are those that are actually moving BCH value between the BCH blockchain and the extension block.”

Given its lack of interactivity with BCH and authority-based architecture, there seems to be no reason whatsoever for Tokeda’s implementation on a blockchain.

With So Much Going On, BCH Proponents Hardly Notice the Market Uptrend

Overall the Bitcoin Cash community seems to enjoy evaluating these proposals, and the criticisms have also been welcomed to some degree. There are definitely developers who believe that their systems that utilize OP_Return operations are not dead ends and will continue in this permissionless environment — After all, no one can stop them from producing these tokenization systems.

BCH Roundup: Markets Spike While the Community Debates Token Protocols
Over the past year, BCH supporters have seen apps like Joystream, Memo.cash, Blockpress, Chainfeed, Cointext, Cashpay, Read.cash, Cash Shuffle and more.

Furthermore, BCH proponents seem pleased with the current development progress from programmers like Unwriter since the upgrade took place this past May. Markets have been better all around for most cryptocurrencies including bitcoin cash but the BCH community seems more focused than ever on the people building with the BCH chain. Most would agree that eventually, market uptrends will follow cryptocurrencies that show steady innovation.

What do you think about the latest events and announcements taking place within the Bitcoin Cash environment? Let us know your thoughts on this subject in the comment section below.


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The Daily: Bitmain Valued at $12 Billion, New US Crypto Exchange Opens for Business

The Daily: Bitmain Valued at $12 Billion, New US Crypto Exchange Opens for Business

In today’s edition of Bitcoin in Brief we cover how Bitmain’s valuation reached $12 billion, the opening of a new US-based crypto exchange, and Binance’s decision to donate $1 million to flood victims in Japan. Additionally, we explore what parts of the current crypto ecosystem Vitalik Buterin hates.

Also Read: Youtube Dragged Into Bitconnect Class Action Lawsuit for Failure to Protect Victims

Bitmain Valued at $12 Billion

The Daily: Bitmain Valued at $12 Billion, New US Crypto Exchange Opens for BusinessBitmain Technologies Ltd., the Beijing-headquartered bitcoin mining machines (ASIC chips) producer, has raised up to $400 million in its latest fundraising round, valuing the company at $12 billion, Chinese media outlet Caixin has reported. The company’s B round of fundraising was led by the venture capital firm headquartered in Menlo Park, California, Sequoia Capital, along with the New York based tech sector hedge fund Coatue, and EDBI Pte Ltd., the private equity and venture capital arm of Singapore Economic Development Board, according to sources close to the deal. Based on this new valuation, Bitmain might seek a massive initial pubic offering (IPO) on the stock market in Hong Kong in the future.

New US Exchange Opens

The Daily: Bitmain Valued at $12 Billion, New US Crypto Exchange Opens for BusinessThe American crypto trading market is getting a little bit more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents on July 6th. Users are able to deposit BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. The actual marketplace will go live tomorrow, July 10th, when users will be able to trade and withdraw funds. The launch is not nationwide yet as HBUS does not currently serve residents in Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington.

“Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are excited to launch as Huobi’s strategic partner, to serve the growing number of people participating in virtual currency trading,” commented Frank Fu, CEO of HBUS.

Huobi has been expanding globally for a while and most recently launched AUD trading in Australia.

Binance Donates $1M

The leading cryptocurrency exchange Binance, which expects to make a net profit of up to $1 billion this year, has announced it donated $1 million to Japanese flood victims. The company stated that “To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative.” According to Japanese agencies in the field, the death toll in the western part of the country reached 112 on Monday and many more people are still missing after floods and landslides destroyed homes, disabled infrastructure and sent around 23,000 people fleeing to evacuation centers.

Similar natural disasters have been on the mind of the Bitcoin community recently with floods in southern China affecting many miners.

Vitalik Hates Centralized Exchanges

The Daily: Bitmain Valued at $12 Billion, New US Crypto Exchange Opens for BusinessVitalik Buterin has recently expressed a deep hatred for the particular business model at the heart of the current crypto trading ecosystem. “I definitely hope centralized exchanges go burn in hell as much as possible,” he said. A particular issue the Ethereum founder raised was how the centralized platforms can extract up to $15 million from projects that want to list their ICO tokens. According to Buterin, crypto-only exchanges are preferable to venues which offer fiat pairs as “the fiat world only has centralized gateways.” And he also seems to not be a big fan of Bitmain and its growing power. “Back in 2013, when GHash had 51 percent everybody freaked out. It’s happening a second time and people aren’t really talking about it this much,” Buterin said at a Techcrunch event.

OTCXN Live Test

OTC Exchange Network, Inc. (OTCXN), an institutional finance infrastructure company, has completed its first live test trades of tokenized USD and tokenized Bitcoin between two separate trading accounts over an electronic trading platform with assets held at a neutral custodian. The platform is designed to remove counterparty and settlement risk with an atomic exchange of assets and facilitates settlement of transactions instantly. “We believe that OTCXN’s platform will transform the marketplace, by enabling assured and transparent execution, becoming a trusted cornerstone driving the maturation of the fiat and crypto markets,” said Barry Thompson, Managing Partner of Volantis Escrow which served as the custodian. “We’ve received dozens of inquiries from trading firms and custodians about our launch date. I’m thrilled that our live test trades were a success and that we’ll soon bring our solution to the market,“ added Rosario M. Ingargiola, founder and CEO of OTCXN. The company plans to launch the public beta on July 9, 2018.

What do you think about today’s news tidbits? Share your thoughts in the comments section below. 


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Huobi Launches US Exchange HBUS – Registrations are Already Happening!

Huobi launches US exchange HBUS

Huobi launches US exchange HBUS: Cryptocurrency exchange HBUS has officially opened for business in the US. Linked with the world’s fourth-largest crypto exchange Huobi, HBUS will signal a foothold in another major global market for Huobi.

HBUS is a “strategic partner” of Singapore-based enterprise and will not formally operate under the Huobi brand.

CEO of HBUS, Frank Fu stated: “Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are ...

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Huobi Launches in Australia Offering 10 AUD Pairs

Huobi Launches in Australia Offering 10 AUD Pairs

Crypto exchange Huobi has started trading in Australia with 10 pairs against the AUD, including bitcoin cash (BCH). More trading pairs will be added in the future. The platform also plans to partner with local startups through its investment fund and a subsidiary.

Also read: Switzerland Considers Granting Crypto Businesses Access to Banking Services

Huobi Starts Trading in Australia

Cryptocurrency exchange Huobi has announced it is launching in Australia. Ten pairs against the Australian dollar (AUD) are supported from Thursday, July 5. These include bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC). More trading pairs will be made available to Australian traders in the future. Huobi Australia CEO Adrian Harrison commented:

Crypto traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.

The Singapore-based trading platform also plans to set up partnerships with the growing number of Australian startups working on a variety of blockchain-oriented projects. The cooperation is expected to be channeled through Huobi’s $200 million Global Ecosystem Fund and Huobi Capital, an investment subsidiary.

Huobi Launches in Australia Offering 10 AUD Pairs“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market,” Adrian Harrison said in a statement, quoted by China Money Network.

Partnering with Blockchain Global, Huobi also wants to support the adoption of cryptocurrencies in Australia. Blockchain Global CEO Sam Lee referred to the partnership as a “win-win for the country’s blockchain space.”

Expanding Globally

The news about the launch of crypto trading in Australia comes after similar announcements by Huobi concerning other markets around the globe. About a week ago, the company confirmed its plans to open a new office in London, noting that UK-based crypto trading ranks fifth in the world. Huobi is currently the third largest cryptocurrency exchange by trade volume.

Huobi Launches in Australia Offering 10 AUD PairsLast month, it was reported that Huobi intends to enter the growing Brazilian crypto market. According to local media, the exchange has established an office in São Paulo, Brazil’s financial capital, and is seeking to hire qualified staff for the positions of chief compliance officer and digital marketing manager. In March, the platform launched in South Korea with 100 cryptocurrencies and a promise to add more coins in the future.

Huobi, once one of the largest Chinese cryptocurrency exchanges, is now headquartered in Singapore. It also has offices in Hong Kong, Japan and the United States. However, the platform announced it will be closing accounts of Japanese residents as a result of compliance issues.

What are your thoughts about Huobi’s global expansion? Share your opinions in the comments section below.


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com

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Huobi-Linked Cryptocurrency Exchange HBUS Launches in U.S. Market

Huobi-linked cryptocurrency exchange HBUS has formally opened for business in the U.S., providing one of the world’s largest crypto companies with a foothold in yet another major global market. Though not formally operated under the Huobi brand, HBUS is a “strategic partner” of the Singapore-based Huobi, which already controls the world’s fourth-largest cryptocurrency exchange. “Our … Continued

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Huobi Launches Cryptocurrency Exchange in Australia

Chinese cryptocurrency exchange Huobi announced this week that trading has begun on its newly-launched platform in Australia. Huobi’s global push is no surprise, as most crypto exchanges have been pursuing untapped markets in a bid to grow their user bases. The exchange — now based out of Singapore, with offices in Canada and Brazil — said trading

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Huobi Crypto Exchange Launches in Australia

Huobi Australia

Huobi Australia: The world’s fourth-largest cryptocurrency exchange by its daily trade volume, Huobi, just announced that it is launching its exchange in Australia today, July 5th.

Huobi Australia

The trading pairs on the new Australian platform are set to be phased in throughout Thursday starting at 10:00 AM Sydney time.  The ten pairs that will be launched include:

Bitcoin (BTC)/AUD Ethereum (ETH)/AUD Bitcoin Cash (BCH)/AUD Litecoin (LTC)/AUD Ethereum Classic (ETC)/AUD Power Ledger (POWR)/AUD Aelf (ELF)/AUD Cortex (CTXC)/AUD Data (DTA)/AUD IOST (IOST)/AUD

The official announcement via Huobi’s website says:

“In the future, Huobi ...

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The Daily: Coinbase Custody Opens, Hitbtc Hits Back at McAfee, BTCC Relaunches

The Daily: Coinbase Custody Opens, Hitbtc Hits Back at McAfee, BTCC Relaunches

Recent updates about the operations of cryptocurrency exchanges is the main focus in today’s edition of Bitcoin in Brief. Stories include the official opening of Coinbase Custody, a spat between Hitbtc and John McAfee, the relaunch of the BTCC exchange and Huobi’s postponement of Hadax voting.

Also Read: Luxury Marketplace Fancy Offers Discount for Bitcoin Purchases

Coinbase Custody Opens

The Daily: Coinbase Custody Opens, Hitbtc Hits Back at McAfee, BTCC RelaunchesCoinbase has announced that its new institutional offering Coinbase Custody, that last week accepted its first deposit, is now officially open for business. The service will be onboarding crypto hedge funds, exchanges and ICO projects over the coming weeks. It is a combination of cold storage, an institutional-grade broker-dealer and reporting services, and a client coverage program.

Coinbase Custody leverages the expertise and systems of Electronic Transaction Clearing (ETC), a SEC-registered broker-dealer and FINRA member. It provides secure storage for institutions in both the US and Europe, and the company hopes to bring this offering to Asia as well before the end of the year. The service currently supports BTC, ETH, LTC and BCH. And as we previously reported, it is expected to open the floodgates for big institutional money looking for cryptocurrency exposure.

“As crypto continues its maturation as an asset class and more institutions enter the space, Coinbase is committed to delivering products and services that are tailored to their unique needs. Coinbase Custody delivers the trusted storage service that our clients need to fully immerse themselves in the potential that crypto assets provide. We look forward to delivering more offerings over the coming months,” the company stated.

Hitbtc Hits Back at McAfee

Hitbtc, the Hong Kong-based exchange, has responded to John McAfee’s accusations on Twitter that the venue is “killing poor people”. The provocateur and former ICO shiller supreme started the fight last Thursday when he wrote that “The crypto exchanges have become the thing that we have originally fought against. Their power is immense. Hitbtc, for example, has increased suffering for millions of poor people who cannot afford the minimum buy-in since it is greater than their monthly income. Boycott them.”

The exchange mockingly thanked him for raising the problem and being the voice of the community. To which McAfee responded: “Your algorithm killed an unknown number of people. You tell me what algorithm recompenses these deaths.”

BTCC Relaunches Exchange

The Daily: Coinbase Custody Opens, Hitbtc Hits Back at McAfee, BTCC RelaunchesBTCC, once one of the biggest bitcoin exchange in China, has officially launched its new platform on Monday, as we reported back in May. The new exchange supports trading BCH, BTC, ETH, LTC, and USD, and offers zero trading fees for the first three months of operation. Interestingly, the platform also features a rewards point system, reminiscent of the much maligned 
Trans-Fee mining business model that recently propelled new exchanges to the top of the volume charts.

Huobi Backtracks on New Hadax Rules?

On Friday, Huobi declared it will be implementing several Hadax voting changes meant to combat bribery for token listings. However, now the exchange has announced the postponement of the opening of voting which was originally planned for Monday. The main change was dividing its Super Nodes into two categories and dropping all projects not supported by the new higher tier group. The team notified users that “Due to the participation of new nodes, the HADAX operating team is still working hard to provide better autonomy plan for the community, and the rules are still being discussed intensively, taking into account the forward compatibility issue. Therefore, HADAX will delay the opening of the 1st round of the 4th phase of voting.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below. 


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The post The Daily: Coinbase Custody Opens, Hitbtc Hits Back at McAfee, BTCC Relaunches appeared first on Bitcoin News.