Market Analysis Report (18 Apr 2019)

Japan To Require Crypto Exchanges To Bolster Internal Oversight

Japan’s financial regulator will require cryptocurrency exchanges to strengthen internal oversight of the so-called “cold wallets” used to store digital money, according to a Reuters report published yesterday.

According to the report, the move by the Financial Services Agency (FSA) highlights the difficulties in ensuring the security of virtual currencies, as well as the broader risks for Japan as it aims to leverage the fintech industry to stimulate economic growth.

Read more here

Binance’s Singapore Fiat-to-Bitcoin Exchange Is Launching Next Week

Cryptocurrency exchange giant Binance will launch its new fiat-to-crypto platform in Singapore next week, Binance’s Chief Financial Officer said.

CEO Changpeng “CZ” Zhao announced in early April that the Singapore fiat “on-ramp” would be coming sometime this month, but Binance’s CFO, Wei Zhou, gave a more precise timeframe:

“Next week we are going to launch the Singapore simple buy/sell on-ramp. It will actually be a new product we are launching, as a very easy buy/sell platform so users in Singapore can buy and sell Bitcoin with Singapore dollars.”

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Coinbase Expands Crypto-to-Crypto Trading to 11 More Countries

Yesterday, Coinbase announced, via an official blog post, that it was making its crypto-to-crypto services available to 11 more countries via its Coinbase Consumer and Coinbase Pro platforms. The eleven countries are Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand. The announcement reads:

“Today we’re excited to welcome 11 more countries across Latin America and Southeast Asia to the crypto-economy by allowing customers to store, trade, send, and receive cryptocurrencies on Coinbase Pro and — increasing the reach to 53 countries, spread across four continents.”

Read more here

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