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The Daily
The US Coinbase exchange is exploring the possibilities of creating a cryptocurrency ETF and we have covered the details of the Daily. In addition, Bittrex announces fiat pairs for cardan and zcash, Changelly admits the KYC documents request from customers who exchange private coins like XMR, and the Monero developers find another bug.
Read also: EU urged for common crypto rules, EEU ready for common encryption
Coinbase trying to create ETF Crypto
Cryptocurrency involvement Coinbase, one of the leading US trading platforms, explored the development of an encrypted exchange of traded products The San Francisco-based company held talks with Blackrock Asset Manager representatives, Business Insider reported citations of informed sources. The Wall Street giant has extensive experience in launching similar products and has created a blockchain working group, despite previous statements not being interested in cryptography.
At the beginning of this year, Coinbase launched a cryptocurrency fund for accredited investors. An exchange-traded fund (ETF) linked to cryptocurrency, which is likely to track multiple digital coins, would be targeted and could facilitate the entry of more mainstream and retail investors into the encrypted market. If the company's plans are confirmed, the California-based exchange will become part of a number of companies from the space that is attempting to launch cryptographic ETFs. The list already includes Gemini, Bitwise and Vaneck.
The regulators have so far rejected a series of proposals. Last month, the US Securities and Exchange Commission (SEC) issued three decisions denying nine Bitcoin ETFs. One day after rejecting the changes to the proposed rules, however, the Commission initiated a review of all related decisions by noting that the rejection orders from August 22 were suspended, as previously reported by News.Bitcoin.com.
Bittrex announces Fiat Pairs for Cardano and Zcash
Another US stock exchange, Bittrex, has recently launched fiat trading pairs with two altcoins, cardan (ADA) and zcash (ZEC). Eligible Bittrex accounts, created before September 4th, are enabled for trading, this platform announced on Twitter this week. New users will need to submit a request to add USD trading to their accounts after passing the KYC procedures. "Cardano (ADA) and zcash (ZEC) have been added to the USD (fiat) markets, according to the post that broadcasts the information on the launch. The encryption platform complies with the requirements for the execution of legal transactions since March.
Changelly confirms KYC for XMR traders
A number of Monero (XMR) Traders have recently resorted to social media and Crypto forum to complain that Changelly's encrypted exchange freezes digital resources by requiring KYC verification (you know your client). According to this tweet for example, the platform requires KYC documents after users have already sent the funds and refuses to reimburse them if they "are not at the height". Clients exchanging private currencies have expressed disappointment with the company's policies that they claim to have been effectively robbed after being automatically classified as high-risk users to attempt to buy via Changelly.
The Prague-based exchange is considered one of the main alternatives to Shapeshift, a crypto-leader-encrypted trading calculator that has recently announced KYC requirements for its customers. A spokesperson for Changelly admitted that the service can withhold suspicious transactions and hold clients' funds until they provide the requested information. Quoted by The Next Web, the representative explained:
For all the Monero communities, our risk management system does not mark all transactions from the blue … Monero is the cryptography that hides the sender and the recipient making the untraceable transactions. This is why it was necessary to check large amounts of other currencies before converting them to XMR.
The spokesman also noted that "We have no distrust and prejudice towards users who trade in XMR.The question refers to a Know-Your-Customer procedure that we had to implement due to the higher number of cases of money laundering. money through our service. "All funds are released and their owners are on a white list once cleared by Changelly's security department. However, the exchange has admitted that the cryptocurrency is kept for a period of time not revealed when a customer refuses to provide the requested data.
New Monero wallet bug discovered
Privacy-oriented altcoin monero developers have discovered a vulnerability that exposes accounting functions of portfolio software to cyber attacks. According to a report published on September 5, the bug is related to the system of encoding transactions with public keys. The defect in the wallet software allows hackers to access the user's account, including transaction data. Currently, the extent of possible damage is unknown and there is no information that programmers have managed to solve the problem. Other bugs in the Monero network were discovered at the beginning of last month.
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