#cryptocurrency license singapore

[consulting24m]

Navigating Singapore’s Crypto Exchange Licensing: Expertise and Strategy with Consulting24

Singapore's well-defined regulatory environment and robust financial ecosystem position it as a prime destination for crypto exchanges. Consulting24, a consultancy renowned for securing over 500 licenses, offers crucial assistance in navigating the process of obtaining a crypto exchange license under the governance of the Monetary Authority of Singapore (MAS).

Regulatory Framework for Crypto Exchanges in Singapore

Under the MAS’s Payment Services Act (PSA), crypto exchanges must adhere to stringent AML/CFT guidelines, operational and financial risk management protocols, technological security measures, and 'Fit and Proper' criteria.

The Licensing Procedure with Consulting24

Preparation: Consulting24 aids in aligning exchange operations with PSA’s requirements.

Application Submission: They guide the filing of a comprehensive application to MAS.

MAS Review: Consulting24 supports the exchange during MAS’s detailed review, including addressing any additional inquiries.

License Issuance: The successful issuance of the license is facilitated by Consulting24’s expertise.

Financial Aspects of Licensing

Businesses must be prepared for application and licensing fees, compliance costs, and capital requirements, areas where Consulting24 offers strategic guidance.

Mardo Soo, CEO at Consulting24, stresses the increasing importance of crypto licenses and compliance, especially in light of recent SEC actions against industry giants like Kraken and Binance. "Our team focuses on helping businesses navigate through non-U.S. markets, effectively circumventing SEC-related complexities," he explains.

Conclusion

Securing a crypto exchange license in Singapore is a testament to a commitment to regulatory compliance and operational excellence. With Consulting24’s in-depth understanding of regulatory requirements and customized support, crypto exchanges are well-positioned to successfully obtain their licenses, contributing significantly to Singapore’s expanding digital economy.

[ulanterrenetradingtips]

The Current State of Forex, Cryptocurrency, and Gold Trading: An Overview

by Ulan Terrene

In the fast-paced world of trading, navigating through the complex dynamics of Forex, cryptocurrency, and gold requires a deep understanding of the markets. This article aims to provide a comprehensive view of these trading realms.

Quick plug: In the vast labyrinth of trading, I’ve found my guiding light — Decode. As a connoisseur of Forex, cryptocurrency, and gold, this platform is my master key, unlocking the treasures of the financial markets. Its sophistication whispers to my experienced mind, while its simplicity beckons beginners into the dance. With Decode, I tread confidently on the shifting sands of trading. Join me, won’t you?

The Landscape of Forex Trading

The Forex market, the largest and most liquid financial market globally, witnesses the United Kingdom leading the charge, accounting for 38% of global foreign exchange turnover. The United States and Singapore follow suit, with contributions of 19% and 9% respectively.

Out of the 10 million forex traders worldwide, the largest segment, 3.2 million, are from Asia, with Europe and North America contributing 1.5 million each. Africa and the Middle East boast 1.3 million and 1 million traders, respectively, while South America and Central America together make up nearly a million. The smallest contingent, with 190,000 traders, resides in Oceania.

The demographics of Forex traders reveal that men make up 89% of the traders, while women, though fewer in number (11%), outperform men by 1.8%, exhibiting a preference for long-term strategies over short-term risk. Interestingly, a considerable segment of Forex traders are younger than expected, with 55% of them falling under the age of 44.

Regulatory Measures and Trading Platforms

Regulation and oversight are fundamental to Forex trading, ensuring that traders engage with fully licensed brokers. Top-tier financial regulators worldwide advocate for a strong legal framework, stringent licensing requirements, robust investor protection measures, and regular audits and inspections.

The growth of Forex trading platforms since 1996 has democratized access to foreign exchange markets. MetaTrader 4 (MT4), launched in 2005, remains the most popular platform, even after the introduction of MetaTrader 5 in 2010.

Forex Trading in Australia

Australia leads the world in CFD/FX trading on a per-capita basis, with over 100,000 Australians executing one or more FX or CFD transactions in 2021. The average deposit by Australian traders into their FX/CFD account was $8,400 during January-October 2021.

The Emergence of Cryptocurrencies

The release of Bitcoin in 2009 marked a significant milestone in the trading world, heralding the advent of decentralized currencies. Since then, the crypto market has grown to include over 6,600 other cryptocurrencies. Despite market fluctuations, these highly volatile and potentially profitable cryptos, usually traded against major fiat currencies, continue to attract speculators.

The Impact of the COVID-19 Pandemic

The COVID-19 pandemic heightened global interest in Forex trading, which peaked in May 2020. Volume was 34% higher than the same month in 2020, with significant increases observed in the UK (up 137%) and Australia (up 67%). As the pandemic receded, the popularity of Forex trading saw a slight decline.

Final Thoughts

While it’s challenging to provide exact figures on the average profit or loss made by individual Forex traders, or the number of people who quit Forex trading, it’s important to note that trading Forex can be highly risky. Market volatility, coupled with a lack of preparation or understanding of the markets, often leads to significant losses. Hence, traders should be well-versed in risk management and never trade more than they can afford to lose.

Given the diverse landscape of Forex trading, it’s crucial for anyone interestedin this field to thoroughly understand the markets’ dynamics. Whether it’s the demographic distribution of traders, the regulatory oversight, the popular trading platforms, or the unique trends in different regions like Australia, every facet of the trading world contributes to the overall picture.

The emergence and growth of cryptocurrencies have added another layer of complexity and opportunity to the trading world. These digital assets, while highly volatile, offer potential profits for savvy traders willing to navigate their intricacies. However, as with all forms of trading, a clear understanding of the risks involved and an effective risk management strategy are key to success.

The impact of global events on the trading world is another important consideration. The COVID-19 pandemic, for instance, significantly boosted interest in Forex trading. Traders must stay informed about such developments to adapt their strategies accordingly.

In conclusion, the world of trading Forex, cryptocurrencies, and gold is constantly evolving, driven by factors ranging from demographic trends and regulatory changes to technological advancements and global events. As traders, we must strive to stay ahead of the curve, continually learning and adapting to navigate these exciting markets effectively.

[36crypto]

OKX Singapore Obtains a Major Payment Institution Licence to Boost Its Market Presence

Singapore-based cryptocurrency exchange OKX has achieved another major accomplishment by receiving a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This comes after being awarded the approval in principle in February, a milestone in expanding the company’s operations in Singapore’s turbo-charged crypto exchange market. With this new license, OKX Singapore…

[blockinsider]

OKX Crypto Exchange Launches AUD Trading Pairs for Aussie Users

Key Points

Crypto exchange OKX has introduced AUD trading pairs for Australian customers.

This move is part of OKX’s continued expansion in Australia and aims to drive adoption of cryptocurrency in the country.

Cryptocurrency exchange OKX has launched AUD trading pairs for its Australian customers, according to a recent press release. This addition makes OKX the largest global exchange offering order book-based AUD pairs for spot trading in Australia.

OKX’s Growth in Australia

From today, Australian crypto traders will be able to buy and sell major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) directly against the local fiat currency.

This move comes three months after OKX expanded its global operations to Australia in May, launching a regional platform dedicated to servicing users in the region.

The platform allowed users to access the company’s spot market and derivatives trading for verified wholesale clients. It also provided local customers with the ability to deposit and withdraw AUD via local banks, and access express buy/sell and convert functions.

The introduction of AUD trading pairs further strengthens OKX’s presence in Australia. Jamie Kennedy, the regional manager of OKX Australia, stated that the new offering is a direct response to the demands of local traders.

Boosting Crypto Adoption in Australia

Kennedy believes that offering local fiat trading capabilities will be crucial in driving the adoption and development of the local crypto ecosystem. He added that OKX will continue investing in and introducing new, tailored products to help realize this vision.

OKX has been steadily expanding its global footprint since the start of this year. In June, it extended its services in Europe with the launch of a dedicated platform for users in the European Economic Area (EEA).

Shortly after the launch, OKX expanded to the Netherlands, allowing Dutch users to access both its digital assets trading platform and Web3 wallet.

The firm partnered with a local payment provider called iDeal to enable users to deposit European euros into their trading accounts. This integration allows traders to easily fund their accounts to buy up to 150 different cryptocurrencies available on the platform.

In early 2024, OKX secured a regulatory license in Dubai, enabling it to bring its full suite of products to the market. Around the same time, the company also obtained another license in Singapore.

[hamzaaslam]

Brainwave Crypto Announces Entry into Hong Kong Market

Plans to Apply for License and Provide Cryptocurrency Trading Services SINGAPORE – Media OutReach Newswire – 20 June 2024 – With Hong Kong gradually easing restrictions on cryptocurrencies, well-known cryptocurrency exchange Brainwave Crypto has announced plans to apply for a license in Hong Kong with the goal of offering cryptocurrency trading services to Hong Kong customers. Brainwave Crypto…

[alaicoin]

ALAICOIN | Canadian Authorities Support Innovation with Approval of First Bitcoin ETF

The Ontario Securities Commission, a major security regulatory authority in Canada, has approved the launch of the Purpose Bitcoin ETF on February 12, 2021, thus providing investors with more opportunities to use cryptocurrency.

Purpose Investments Inc., based in Toronto, said: “This ETF will become the world’s first fund to directly invest in physically settled Bitcoin rather than derivatives, thereby enabling investors to easily and efficiently utilize the emerging cryptocurrency asset class.”

Som Seif, CEO and founder of Purpose Investments, stated that holding Bitcoin involves risks, such as losing storage keys and passwords or even corrupting transactions. However, the ETF eliminates these risks.

With Canada launching the first Bitcoin ETF in North America, many expect the United States to follow suit.

ALAIcoin digital asset trading platform was established in 2017, registered in California, USA, created by top blockchain investment institutions from Wall Street, investment elites, early investors, and researchers in the blockchain industry, aiming to build a one-stop international blockchain digital asset trading platform.

Since its establishment in the USA in 2017, ALAIcoin digital asset exchange has been committed to providing users with secure, professional, and compliant digital currency trading services. Focusing on North America and Asia-Pacific as core markets, it is fully expanding its global business. Adopting a dual registration system in the USA and Singapore, embracing regulation and compliant operation, it has successively obtained or is applying for MSB and US NFA regulatory licenses (compliance operating licenses), licenses issued by the USA, Canada, the UK FCA, and the Australian ASIC, continuously promoting the development of the cryptocurrency industry.

As a global digital asset trading service platform, ALAIcoin has strong product advantages. The team is committed to continuously optimizing and improving the platform’s technical architecture to enhance the security of users’ assets. Continuously launching new products and services to provide users with an excellent trading experience. Meanwhile, ALAIcoin has the most comprehensive service system, with a professional customer service team providing investors with 7X24 hours of online consultation services and support, ensuring investors receive timely help during the trading process.

[ymcoinexchange1]

Compliance First: Ymcoin Exchange's Approach to Security

Ymcoin Exchange: The epitome of compliance, a robust force in the digital currency market.

As the digital currency market gradually matures, governments around the world are increasingly focusing on strengthening regulations and compliance to ensure the stability and healthy development of the market. Against this backdrop, Ymcoin Exchange has emerged as a leader in the digital currency market with its outstanding compliance and robust operational strategies.

As a leading global digital currency trading platform, Ymcoin Exchange has always regarded compliance as a core principle of its business development. While strictly adhering to laws and regulations in various countries, Ymcoin Exchange actively collaborates with regulatory authorities to promote the standardized development of the digital currency market.

Since its establishment in the United States in 2015, Ymcoin Exchange has been committed to providing users with secure, professional, and compliant digital currency trading services. With a focus on North America and the Asia-Pacific region, Ymcoin Exchange adopts a dual registration system in the United States and Singapore, embracing regulation and compliance operations. It has obtained or is in the process of applying for dual MSB licenses issued by the United States and Canada, as well as regulatory licenses such as the NFA regulatory license (Compliance Operations Permit), FCA license in the UK, ASIC license in Australia, and others, continuously driving the development of the cryptocurrency industry.

Ymcoin Exchange places great importance on the security and protection of user funds. To ensure the safety of customer assets, Ymcoin Exchange has implemented various security measures, such as a multi-signature transaction system and the segregation of cold and hot wallets. These measures effectively safeguard customers' digital assets, earning the trust of a large user base.

Ymcoin Exchange has made outstanding contributions in terms of compliance. As a globalized exchange, Ymcoin actively communicates and collaborates with regulatory authorities worldwide to promote regulatory development in the digital currency market. While complying with the laws and regulations of various countries, Ymcoin Exchange provides users with a secure and stable trading environment.

In addition, Ymcoin Exchange also prioritizes protecting users' privacy. Regarding data protection, Ymcoin Exchange strictly adheres to the laws and regulations of various countries, respects user privacy, and implements rigorous data encryption measures. Users can confidently engage in digital currency transactions on Ymcoin Exchange without worrying about the disclosure of personal information.

Ymcoin Exchange is also committed to promoting the healthy development of the industry. Through partnerships with globally renowned financial institutions, Ymcoin Exchange provides extensive financial service support to the industry. The establishment of these partnerships helps promote the diversified development of the digital currency market and injects new vitality into the industry's sustainable development.

In conclusion, Ymcoin Exchange has set a paradigm in compliance and robust operations, injecting strong momentum into the healthy development of the digital currency market. Against the backdrop of continuously strengthening regulations and compliance, Ymcoin Exchange will continue to play its leadership role in providing users with safer and more compliant digital currency trading services. Whether in fund security, privacy protection, or industry collaboration, Ymcoin Exchange has demonstrated outstanding strength and a prudent strategic vision. Therefore, choosing Ymcoin Exchange as your digital currency trading platform will safeguard your assets and assist you in navigating the digital currency market with stability.

[ymcoin]

YMCOIN | Investor Confidence Soars in Australia's Crypto Market

YMCOIN: Investor Confidence Soars in Australia's Crypto Market

Riding the wave of the digital age, Australia is quickly becoming one of the hottest topics in global cryptocurrency trading. As blockchain technology continues to mature and the audience for digital currencies expands, Australian cryptocurrency exchanges are in a period of unprecedented development opportunities. This article will explore the background to the emergence of this emerging market, its current status and its likely impact on investors, policymakers and the entire financial ecosystem.

The Australian market is very active in many areas, and the encryption industry is particularly active. According to Koinly’s June 2023 research report, approximately 31.6% of Australians hold or have held cryptocurrency, ranking first in the world in terms of penetration. Nearly half of cryptocurrency investors earn between A$60,000 and A$149,999 annually,high net worth individuals account for 49%. The number of domestic cryptocurrency ATMs in Australia increased by 403% to a total of 33,630, also ranking first in the world.

A report released by MAWSON stated that it is expected that by 2030, Australia will become one of the largest markets for cryptocurrency in the world, providing 200,000 crypto jobs for Australians and bringing in more than $250 billion in revenue. But this prospect is far from clear. To achieve this, Australia needs to have correct regulatory regulations to guide it.

Based on the rapid growth of the Bitcoin trading market, the Australian Taxation Office (ATO) began to formulate clear Bitcoin tax policies in December 2014. Meanwhile, the Australian Securities and Investments Commission (ASIC) declared that cryptocurrencies do not meet the current legal definition of financial products. Cryptocurrency service providers still need to provide an “Australia financial services (AFS) license” to conduct business, to enable cryptocurrency companies to provide cryptocurrency transactions, hold cryptocurrency on behalf of others, provide advice on digital currencies, arrange for others to buy and sell digital currencies, etc. .

Investing in cryptocurrencies such as Bitcoin in Australia is considered highly safe due to strict regulations enforced by authorities such as the Australian Securities and Investments Commission (ASIC) and AUSTRAC. These agencies ensure that cryptocurrency exchanges adhere to strict consumer protection laws, giving investors peace of mind. Australian investors also have access to a variety of financing options, including bank transfer, PayID, Osko, BPAY and credit or debit cards, making investing even easier.

After this, there will be initially clear regulatory and tax policies for individual cryptocurrency transactions and companies providing encryption services. This provides a legal basis for the standardization and formalization of Australia’s cryptocurrency market. And allow the entire encryption market to operate in an orderly manner in a more relaxed and formal environment.

In conclusion

Cryptocurrency exchanges in Australia are in a phase of rapid development. They not only provide investors with a wealth of investment options, but also bring new vitality to the financial markets in Australia and around the world. Authoritative agencies such as the Australian Securities and Investments Commission (ASIC) and AUSTRAC enforce strict regulations to ensure the healthy and stable development of the cryptocurrency market. Currently, investing in cryptocurrencies such as Bitcoin is considered highly safe in Australia.

Ymcoin Exchange, since its establishment in the United States in 2015, has always been committed to providing users with safe, professional, and compliant digital currency trading services. Focusing on North America and Asia-Pacific, it adopts dual registration systems in the United States and Singapore to cooperate with supervision and compliance operations. It has obtained or is applying for MSB dual licenses issued by the United States and Canada, as well as the American NFA regulatory license (compliance operation license) and the British FCA. licenses, Australian ASIC licenses, etc., continue to promote the development of the cryptocurrency industry.

[alaicoinexchanges]

ALAIcoin Exchange - Empowering Users with Seamless Trading Experiences

The ALAIcoin digital asset trading platform was established in 2017 and is registered in California, USA. It was created by top blockchain investment institutions from Wall Street, along with investment elites, early investors in the blockchain industry, and researchers, to forge a one-stop international blockchain digital asset trading platform.

Since its establishment in the United States in 2017, ALAIcoin has been committed to providing users with safe, professional, and compliant cryptocurrency trading services. Focused on North America and Asia-Pacific, it is fully engaged in expanding its global business. Adopting a dual registration system in the USA and Singapore, ALAIcoin embraces regulatory compliance and operations, and has obtained or is in the process of applying for MSB and NFA regulatory licenses (compliance operation licenses) issued by the USA and Canada, the UK's FCA license, and Australia's ASIC license, continuously pushing the development of the cryptocurrency industry.

Thanks to secure digital asset management, diversified trading models, and a positive trading experience, official data collected up to November 21, 2023, shows that the ALAIcoin digital asset trading platform has achieved a registered user count of 5.17 million, with daily active trading users peaking at 2.017 million and daily active user trading volume reaching a high of 6.36 billion USD.

The ALAIcoin digital asset trading platform has a certain renown in the blockchain ecosystem and cryptocurrency trading system field. Its team has independently developed and built a decentralized structure's security system and asset firewall protection system, effectively preventing DDOS attacks with a double firewall, while also having the support of several top global institutions, solid financial backing, and providing first-class asset security guarantees for global users.

The core team members of the ALAIcoin digital asset trading platform come from senior R&D, product, and operations sectors of the Top 3 digital asset trading platforms, possessing extensive experience and professional knowledge, with decades of service experience in the blockchain industry R&D. The core members are spread across the globe, including Singapore, the USA, the UK, Dubai, Hong Kong, and other countries and regions.

As a globalized digital asset trading service platform, ALAIcoin boasts significant product advantages. The team is dedicated to continuously optimizing and improving the platform's technical architecture to strengthen the protection of users' asset security. It is constantly launching new products and services to provide a superior trading experience for users. Additionally, ALAIcoin has the most comprehensive service system, with a professional customer service team offering 24/7 online consultation services and support, ensuring that investors receive timely help during their trading process.

[consulting24m]

Securing a Payment License in Singapore: How Consulting24 Can Guide You

In the dynamic and rapidly evolving financial sector of Singapore, obtaining a payment license is a critical step for businesses involved in payment services. Consulting24, a renowned consultancy with extensive experience in navigating the complexities of financial regulations, stands as a key asset for businesses in this journey. Their achievement in facilitating over 500 licenses across various jurisdictions, including Estonia and Lithuania, underscores their expertise and success in the field.

Consulting24: Navigating Complex Regulatory Waters

Consulting24's deep understanding of financial regulations and processes makes them an invaluable partner for businesses seeking a payment license in Singapore. Their experience in the global regulatory landscape equips them with the necessary tools to streamline the licensing process.

The Landscape of Payment Licensing in Singapore

Under the guidance of the Monetary Authority of Singapore (MAS), the Payment Services Act (PSA) governs the issuance of payment licenses. This framework ensures that payment service providers operate within a secure, stable, and compliant environment, contributing to the overall integrity of Singapore's financial system.

Prerequisites for Obtaining a Payment License

To successfully acquire a payment license in Singapore, businesses must fulfill several criteria:

Strong AML/CFT Measures: Adherence to anti-money laundering and counter-terrorism financing regulations is non-negotiable.

Operational Robustness: Demonstrating the ability to provide secure and reliable payment services.

Financial Health and Compliance: Showcasing sound financial practices and the capacity to meet MAS’s regulatory requirements.

Fit and Proper Criteria: Ensuring that key management personnel comply with MAS’s standards of professionalism and ethical conduct.

The Role of Consulting24 in the Licensing Process

Strategic Planning and Preparation: Consulting24 aids in aligning a business’s operations with MAS's regulatory demands.

Application Filing: Assisting in the preparation and submission of the application to MAS, ensuring accuracy and completeness.

Navigating MAS Review: Consulting24’s expertise is particularly beneficial during the review process, addressing any queries and clarifications from MAS efficiently.

Achieving License Approval: Their guidance and insight can significantly enhance the chances of a successful license application.

Benefits of Holding a Singapore Payment License

Market Access and Credibility: It opens up opportunities in one of Asia’s most dynamic financial markets and establishes credibility among customers and partners.

Regulatory Compliance: Ensures business operations are in line with some of the most rigorous financial standards globally.

Business Growth and Innovation: A payment license is a stepping stone to innovating and expanding services in the fintech space.

Financial Commitments and Operational Considerations

Application and Maintenance Costs: Businesses must budget for the application fee and ongoing compliance expenses.

Investment in Compliance Infrastructure: Ensuring systems and processes meet the high standards set by MAS.

Conclusion

Acquiring a payment license in Singapore is a testament to a business's commitment to regulatory compliance and operational excellence in the payment services sector. Consulting24, with its extensive experience and proven track record, is an ideal partner to guide businesses through this intricate process, paving the way for success in Singapore's dynamic financial landscape.

[drewssam]

Crypto.com Gets Regulatory Approval in France; Cyber Trust Mark From Singapore

Crypto.com, a prominent cryptocurrency exchange, recently attained regulatory approval in France and received the prestigious Cyber Trust Mark from Singapore. To secure the regulatory license, Crypto.com underwent a rigorous evaluation, focusing on preventing money laundering and terrorist financing. This approval enables Crypto.com to offer compliant goods and services to consumers in France, as per local regulations. Kris Marszalek, CEO of Crypto.com, emphasized the significance of the European market and expressed pride in obtaining registration from the AMF, highlighting their commitment to providing a safe and comprehensive crypto platform. Additionally, the Cyber Trust Mark, awarded by Singapore's Cyber Security Agency, signifies Crypto.com's adherence to stringent security standards. Acknowledged for operating at the highest maturity level, labeled "Tier 5 – Advocate," Crypto.com stands out for its commitment to cybersecurity. Marszalek commended the team's efforts in setting new security benchmarks and collaborating with stakeholders to advance cybersecurity standards in their home market. These regulatory approvals and certifications underscore Crypto.com's dedication to compliance, security, and growth in the cryptocurrency industry.

[luxzrysmec]

Cryptocurrency Regulations - A Global Overview

The cryptocurrency industry is a global one, so keeping up with crypto regulations around the world can be challenging. Different countries have very different regulatory attitudes toward coins and exchanges, which makes it important to understand how the rules apply in each territory. The purpose of this article is to provide an overview of current and upcoming regulations that impact the crypto industry globally.

Some countries regulate all activities related to cryptocurrencies, including coin and exchange trading, while others only regulate specific transactions. For example, the U.S. has a complex system of regulation, with the Securities and Exchange Commission and the Chicago Mercantile Exchange and Commodity Futures Trading Commission overseeing some parts of the industry. On the other hand, the EU is moving to bring cryptocurrency activities under the same laws that govern financial services firms.

Many countries have begun to introduce new regulations to address the growing popularity of cryptocurrencies. In 2021, the Biden administration began to focus on regulating stablecoins in order to protect investors and limit the potential for use in money laundering and terrorist techogle financing. Meanwhile, Congress debated legislation to treat crypto exchanges as brokers and require them to comply with AML/CFT reporting requirements.

While many governments have struggled to develop a definition of what constitutes a cryptocurrency, some have opted for broader, technology-agnostic approaches that will be better able to adapt as the industry evolves. For example, the Uniform Law Commission and the American Law Institute amended the Uniform Commercial Code to include virtual currencies under its definition of "controllable electronic records." This has helped to ensure that all types of virtual assets are regulated under the same legal frameworks.

Another area in which regulators have been working to improve is their ability to monitor and respond to consumer complaints about cryptocurrencies and the companies that trade them. In addition, many regulators have also been working to increase cooperation and sharing of information in the sector, particularly with other jurisdictions.

As the crypto industry continues to grow, many countries are looking to boost their positions as global leaders by introducing clearer regulations. For instance, Singapore is known for having a high level of clarity in its fintech and crypto laws and was the first jurisdiction to regulate stablecoins. The country has also made it easier for crypto companies to pass their operations into other parts of the world by introducing regulations that allow them to easily apply for licensing in the EU.

In the United States, the bipartisan technology website Responsible Financial Innovation Act aims to provide regulatory clarity in the digital asset marketplace, establish a strong and tailored framework for stablecoins, integrate crypto into existing financial markets and banking law, and promote innovation in the sector. It would help to promote global leadership, support consumer and investor protection and ensure that the United States remains a global leader in the field of innovative technologies. The legislation has passed the House of Representatives and is expected to be considered by the Senate in 2023.

[blockinsider]

Futu Opens Bitcoin and Ethereum Trading Services in Hong Kong

Key Points

Chinese online brokerage firm, Futu Securities, has initiated Bitcoin and Ethereum trading in Hong Kong.

The company plans to extend its crypto trading services beyond China, targeting Hong Kong, Singapore, and the United States.

Futu Securities, a prominent online brokerage firm in China, has officially introduced Bitcoin (BTC) and Ethereum (ETH) trading in Hong Kong via its local subsidiary.

As of August 1, cryptocurrency traders in the region can purchase and sell these two major digital assets using either the US dollar or the local Hong Kong dollar (HKD). The company is currently only supporting the trading of BTC and Ether, though it intends to include other cryptocurrencies in the future.

Branching Out from Mainland China

The brokerage firm first voiced its interest in providing crypto trading services to clients outside mainland China in May 2021. Futu revealed it was seeking licenses to broaden its services to Hong Kong, Singapore, and the United States, where digital assets are accepted for investment opportunities, unlike China, which has a complete ban on this emerging market.

The company has successfully obtained an operational license from the Hong Kong Securities and Futures Commission (SFC), according to a report by South China Morning Post. This permit allows Futu to penetrate the Hong Kong market.

Futu is the first online securities brokerage firm to offer crypto trading services directly through its dedicated platform, the Futu Niu Niu app. The app was created in accordance with local regulations in Hong Kong.

The service is accessible to both institutional investors and retail traders. They can now buy as little as $10 worth of BTC and Ether, or HKD 80.

More Offerings and Incentives

Futu is also licensed to provide Bitcoin and Ethereum exchange-traded funds (ETFs) to certified institutions, in addition to crypto trading. These institutions can trade Bitcoin and Ethereum, their futures ETFs, and related securities, all in one location with zero commission.

To attract users in the competitive Hong Kong market, Futu has initiated an incentive program for early adopters. The brokerage firm is rewarding early participants with tech stocks from renowned companies such as Alibaba Group Holding and Nvidia.

Futu has also included Bitcoin in the reward basket, making the offer even more appealing for traders. Qualified users can claim up to HKD 800 worth of BTC.

[tradingacademys]

Broker In Focus: Fxglory - Is It Worth Giving A Try?

Fxglory is an offshore broker that allows trading in the forex market and commodities. The broker is not licensed by a respected regulatory body like the FCA or CySEC and is incorporated outside of the United States in Saint Vincent and the Grenadines. However, it has developed a reputation as one of the most dependable companies in the sector despite it currently lacking any regulatory licences. Traders of any level can take advantage of Fxglory’s flexibility, usability, and astounding professionalism. It further provides excellent trading tools, reliable trade execution, and enormous leverage available on the market–1:3000.  

Fxglory provides simple access to a secure and comprehensive trading environment. Established in 2011, it has offices in Malaysia, Cyprus, Spain, and the UK. The office was first headquarters in the United Arab Emirates and migrated to European markets after a year of operation in the Asian financial industry. A group of financial experts founded the company with the goal of offering traders on the MetaTrader 4 trading platform a superior online trading experience with high leverage, no commissions, and quick executions.

Features Provided by Fxglory

Trading Instruments– Clients of FxGlory have access to a limited number of trading instruments. You can trade 34 currency pairings, including GBP/USD and EUR/USD. Along with oil and precious metals trading, popular cryptocurrencies like Bitcoin and Ethereum are also accessible.

Trading Accounts– Fxglory provides access to four types of trading accounts. Standard, Premium, VIP, and CIP accounts. Further, Fxglory provides one-click trading, a built-in news feed, and multilingual support for all account holders. 

Trading Platform– Fxglory provides MetaTrader 4 (MT4) and a WebTrader platform. MT4 is user-friendly, sophisticated, and customisable. Additionally, FxGlory provides a web-based trading platform. WebTrader enables you to trade through an internet browser without additional program installation. A variety of devices, including Mac and PC, can be used to trade all the instruments provided by this broker. 

Mobile Trading Application– All trade orders and execution types are supported by the MT4 platform, which can be downloaded for iOS and Android devices. The UI is straightforward to use, and logging in is just as quick and easy as it is on a desktop computer. You have access to trade at your fingertips.

Languages– Languages such as English, Russian, Italiano, Greek, Arabic, and German are supported by the broker.

Trading Tools– Fxglory provides highly useful trading tools such as economic calendars, margin calculators, and one-click trading.

Education– This field requires special attention because the educational materials at Forexglory are quite basic and not up-to-date. 

Customer Service– You can contact the customer support team 24*5 through email and phone call service. You also have to connect to the team via live chat.

Clients– Fxglory accepts clients from countries such as Australia, Thailand, Canada, the United States, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, etc. 

Payment Options– E-commerce payment methods have grown in popularity these days. So, the broker provides a variety of deposit choices. To fund your account, you can select a method that best meets your needs, and all deposits are processed quickly and securely. You have access to multiple payment options like SticPay, American Express, Perfect Money, cryptocurrencies, WebMoney, EPay, Wire Transfer, Neteller, Skrill, PayPal, Visa, and Mastercard. 

Trading Conditions

Standard Account 

Commission – $0

Minimum Deposit – $1

Spread – Floating from 2 pips

Step lot size – 0.01

Leverage – Up to 1:3000

Maximum bonus – $500

Deposit bonus percentage – 50%

Minimum lot size – 0.01

Maximum lot size – 1.00

Hedge margin – 50%

Maximum position – 20

Premium Account 

Commission –$0

Minimum Deposit – $1,000

Spread – Floating from 2 pips

Step lot size – 0.10

Leverage –  1:2000

Maximum bonus – $1,000

Deposit bonus percentage – 50%

Minimum lot size – 0.10

Maximum lot size – 10.00

Hedge margin – 50%

Maximum position – 100

VIP Account   

Commission – $0

Minimum Deposit – $5,000

Spread – Floating from 0.7 pips

Step lot size – 0.10

Leverage – 1:300

Maximum bonus – $2,000

Deposit bonus percentage – 40%

Minimum lot size – 0.10

Maximum lot size – 1,000.00

Hedge margin – 25%

Maximum position – 1000

CIP Account 

Commission – $0

Minimum Deposit – $50,000

Spread – Floating from 0.1 pips

Step lot size – 1.00

Leverage – 1:50

Maximum bonus – $0

Deposit bonus percentage – 0%

Minimum lot size – 1.00

Maximum lot size – 5.00

Hedge margin – 100%

Maximum position – 10

Pros of Trading with Fxglory

Low minimum deposit ($1)

Provides varieties of strategies like scalping, hedging, algorithmic trading

Spreads are fixed

Clients have access to a handful of tradable instruments

The MT4 platform is available for iOS and Android devices and supports all trade orders and execution modes. 

The interface is easy to navigate

Offers a wide range of payment methods, including cryptocurrency

Offers 4 types of trading accounts

Live chat is available

To protect client data, the company's website and platform employ 256-bit SSL encryption technology.

To protect the funds, it maintains cash in separate accounts and provides clients access to various risk management tools.

All accounts are swap-free

Clients from the US are accepted

Micro-lot trading is available

Cons of Trading with Fxglory

The website supports only the English language

It is unregulated

Cent accounts are not available

Customer support service is not upto the mark

Spreads are high

Complex fee structure

Does not provide an MT5 platform

Educational materials are average

Verdict

Overall, Fxglory is a reliable forex broker which provides a unique trading system and environment. Fxglory puts the priorities and needs of its clients and partners first. It works with all honesty by creating exceptional products and services. However, keep in mind that, at the moment, it does not hold any regulating licence. Always do some background checks before signing up with any broker. Furthermore, Fxglory is a good broker for both newbies and experienced traders, but the trading conditions make it more suitable for professional traders who have a large capital to trade. 

[alaicoin]

ALAICOIN Forecasts Bitcoin Price Surge Once Fed Tightening Ends

Considering the recent rate hikes in the US, Bitcoin (BTC) is “trading very well,” and once the Federal Reserve (Fed) pauses its tightening policies, Bitcoin prices will soar like “flying to the moon,” says Mike Novogratz, CEO of Galaxy Digital.

During a fireside chat with BTC advocate and investor Anthony “Pomp” Pompliano at the Bitcoin 2022 conference held in Miami on Wednesday, Novogratz expressed that, given the macroeconomic headwinds like the Fed’s rate hikes, Bitcoin’s recent performance has impressed him.

“I think Bitcoin is trading very well,” said Novogratz.

He added that he believes Fed Chair Jerome Powell has “realized he’s behind the curve” and warned he might show a “very hawkish” stance for a while. Novogratz also said that Powell wants to maintain his reputation.

Moreover, Novogratz noted that Bitcoin is “much more important outside of the United States than inside.” He believes that while the dollar remains “relatively stable” in the long term, local currencies in places like Russia, Turkey, and others do not.

However, he pointed out that from his perspective, the goal is not to replace the dollar with Bitcoin. Instead, for investors, the focus should be on storing some of their wealth in Bitcoin, he said.

When asked how high Bitcoin could go, Novogratz answered, “One million dollars.”

As of April 6th, 15:59 GMT, BTC was trading at $44,138, down nearly 4% on the day. It has risen nearly 15% in a month, reducing its year-to-date loss to less than 25%.

ALAIcoin digital asset trading platform was established in 2017, registered in California, USA, and created by top blockchain investment institutions from Wall Street, investment elites, early investors, and researchers in the blockchain industry, aiming to build a one-stop international blockchain digital asset trading platform.

Since its establishment in the USA in 2017, ALAIcoin digital asset exchange has been committed to providing users with secure, professional, and compliant digital currency trading services. Focusing on North America and Asia-Pacific as core markets, it is fully expanding its global business. Adopting a dual registration system in the USA and Singapore, embracing regulation and compliant operation, it has successively obtained or is applying for MSB and US NFA regulatory licenses (compliance operating licenses), licenses issued by the USA, Canada, the UK FCA, and the Australian ASIC, continuously promoting the development of the cryptocurrency industry.

As a global digital asset trading service platform, ALAIcoin has strong product advantages. The team is committed to continuously optimizing and improving the platform’s technical architecture to enhance the security of users’ assets. Continuously launching new products and services to provide users with an excellent trading experience. Meanwhile, ALAIcoin has the most comprehensive service system, with a professional customer service team providing investors with 7X24 hours of online consultation services and support, ensuring investors receive timely help during the trading process.

[icodesk]

Why BNB Token Didn’t Ride the $180 Billion Wave?

BNB underperformed due to regulatory scrutiny and competition about its underlying chain’s decentralization

BNB token is the native cryptocurrency of Binance, the largest and most popular crypto exchange in the world. BNB token has many use cases, such as paying fees, trading, staking, and participating in various projects and initiatives on the Binance platform and ecosystem. BNB token has also shown impressive growth and performance in the past year, reaching new all-time highs above $4,000 in May 2023

However, the BNB token has also faced some challenges and setbacks, which have prevented it from riding the $180 billion Wave that the crypto market experienced in December 2023. The $180 billion Wave refers to the surge in the total market capitalization of all cryptocurrencies, which reached a new record of $2.7 trillion on December 8. Several factors, such as the increasing adoption and innovation of cryptocurrencies, the positive sentiment and outlook of investors and traders, and the favorable regulation and policy of governments and authorities drove this Wave.

Some of the reasons why the BNB token did not ride the $180 billion Wave are:

Technical issues: Binance has experienced some technical problems and glitches that have affected its operations and services, such as delays, outages, or errors in deposits, withdrawals, trading, or staking. These issues have caused frustration and inconvenience for the users and customers of Binance and have also raised questions and doubts about the reliability and security of the platform and the token

Regulatory hurdles: Binance has also faced some regulatory hurdles and challenges in various countries and regions, such as the US, UK, Japan, Germany, and Singapore. These hurdles and challenges have resulted from the lack of clarity or compliance of Binance with the local laws, rules, or standards that govern the crypto industry, such as licensing, registration, reporting, or taxation. These hurdles and challenges have also caused uncertainty and risk for the users and customers of Binance and have also restricted or limited the access and availability of the platform and the token.

Competitive threats: Binance has also faced some competitive threats from other crypto platforms and projects, such as Coinbase, Kraken, Uniswap, Solana, and Cardano. These platforms and projects have also offered similar or superior products, services, or solutions that cater to the needs and demands of the crypto market, such as trading, staking, lending, borrowing, or launching. These platforms and projects have also gained more popularity and recognition among the users and customers of the crypto industry and have also attracted more investment and support from the stakeholders and partners of the crypto ecosystem.

Therefore, the BNB token has not been able to ride the $180 billion Wave that the crypto market experienced in December 2023 due to various technical, regulatory, and competitive factors that have affected its price performance and market position. However, the BNB token still has a lot of potential and value, as it is backed by the largest and most popular crypto exchange in the world, and it has many use cases and benefits on the Binance platform and ecosystem. BNB token may be able to overcome its challenges and setbacks and catch up with the crypto market wave if it can improve its technical, regulatory, and competitive aspects and continue to innovate and deliver on its vision and mission.