Japanese exchange Liquid officially announced the delisting of 27 assets, citing regulatory precautions.
1607 Total views
14 Total shares Japanese exchange Liquid recently unveiled a mass asset removal from its platform, which COO Seth Melamed claimed necessary for legal compliance.“Liquid works closely with regulators in Japan and Singapore,” Melamed told Cointelegraph on July 25.Referring to Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, regulations, he added: “As part of risk management we have to take a conservative approach regarding maintaining listings in tokens that are potentially viewed by regulators as in conflict with rules around AML and CFT and the Funds Travel Rule.” Liquid provided a public statement The exchange’s asset removal list includes privacy-focused coin Zcash (ZEC).A July 22 tweet from Zcash’s overseeing entity, the Electric Coin Company, tipped off the public on Liquid’s delisting of the asset, prior to an official statement from the exchange.Liquid provided an official statement on the situation shortly after, citing plans to achieve Singapore’s regulatory approval as a crypto exchange operator.In light of its goals, the exchange decided to remove 27 assets from its platform, including Zcash, effective as of July 24.The statement, however, noted potential re-listing of assets at some point.
The exchange nears the end of its regulatory approval request “Liquid is in the final stages of submitting our application to the Monetary Authority of Singapore, or MAS, for an exchange license under the Payment Services Act,” Melamed explained, noting difficult alterations the entity chose, spanning a number of categories, in pursuit of such regulatory approval.Melamed described the situation as a tough grey area, adding: “Liquid is working with the industry to provide a framework for adherence to regulations not always compatible with the innovative nature of blockchain-based assets.It’s never easy to be first, but we are committed to seeing this through.” Liquid is one of many exchanges taking alternate routes in the face of regulation.
Major exchange Binance banned U.S.customers in 2019, while many other exchanges see similar restrictions.
*Helen Partz contributed reporting to this story.Share this: Maryland State Government Participating in Operation Cryptosweep The Attorney General of Maryland announced that the state is participating in Operation Cryptosweep.Maryland Attorney General Brian E.Frosh announced that state regulators would be participating in the initiative on Aug.
14.Operation Cryptosweep is a joint initiative of state and provincial securities regulators in the United States and Canada, wherein… Bank of America CTO Catherine Bessant: We Haven’t Found a Blockchain Use Case in Finance Catherine Bessant, chief technology officer at Bank of America, admitted that the institution has yet to find blockchain use cases for the financial services sector.
Bessant made her comments during an interview with Bloomberg published on May 14.Speaking to Bloomberg, Bessant said that — while she believes this technology to hold a lot of potential… Ripple, NEM & Two Others Launch ‘Blockchain for Europe’ Association Four major blockchain companies have formed a “Blockchain for Europe” Association, according to a press release Dec.5.The association seeks to promote the understanding and proactive regulation of blockchain and other distributed ledger (DLT) technologies across the continent.The four participant companies are Ripple, the NEM Foundation, Emurgo – which supports commercial ventures based on… Scattered Gains Bring Respite after Midweek Crash, But Many Alts Continue to See Losses Friday, September 7: after the midweek bloodbath, crypto markets have slightly stabilized today, although many coins continue to shed value, as Coin360 data shows.Market visualization from Coin360Bitcoin (BTC) is trading at around $6,430 at press time, down just under one percent on the day, according to Cointelegraph’s Bitcoin Price Index.Despite a bullish start to September,… Tether’s Trouble With New York Attorney General — Will Crypto Cope? Are Bitfinex and Tether in trouble? Maybe, but the thing is, we don’t know just how much trouble, because the stablecoin issuer has challenged the New York State Office of the Attorney General’s (OAG) case against them.In claims filed in April, Attorney General Letitia James asserted that Bitfinex defrauded its customers, having lost $850… Toronto Stock Exchange’s Listing of Bitcoin Fund Can Have a Major Impact on Crypto On April 9, Canadian asset manager 3iQ announced that its efforts to launch a fund tied to Bitcoin (BTC) on the Toronto Stock Exchange had finally come to fruition after three years of continued legal disputes.
As a result of this move, 3iQ has become the first firm to release such an offering commercially on… Vitalik Buterin Dismisses Rumors New Constantinople Feature Allows Attack Vector Ethereum (ETH) co-founder Vitalik Buterin and other core devs have dismissed allegations that a new smart contract creation feature set to be released in the forthcoming Constantinople hard fork will have negative security implications.The discussion was held during a Ethereum core developer call on Feb.15.The feature in question is called “Create2” — designated… Shell Subsidiary Builds DLT-Based Virtual Power Plant in Germany Royal Dutch Shell subsidiary Sonnen Group announced a partnership with the Energy Web Foundation (EWF) to use EWF’s blockchain to create a virtual power plant (VPP) in Germany on March 12.The virtual power plant will comprise a distributed network of residential energy storage systems intended to absorb excess wind power and reduce Germany’s renewable energy… Ripple CEO Says JPM Coin Lacks Interoperability: ‘Just Use the Dollar, I Don’t Get It!’ Ripple (XRP) CEO Brad Garlinghouse says the recently-announced digital asset from United States banking giant JPMorgan Chase lacks the interoperability that would make it a significant innovation.Garlinghouse made his remarks during an interview at the 4th Annual DC Blockchain Summit in Washington D.C.
on March 6.As Cointelegraph has reported, JPMorgan Chase announced the forthcoming… .
