In recent news pertaining to cryptocurrency exchanges, Australia’s financial regulators make expressed skepticism regarding Coinjar’s purported trade volume, Paysend has partnered with Bitstamp to assist cryptocurrency purchases through its Global Account, and Seed Cx has announced a $15 million USD Series B funding up.
Also Read: A Decade After Lehman Brothers Died: Mises, Satoshi, Bitcoin, and Irritate Street Worship
Australian Regulators Skeptical of Purported Coinjar Bulk
In a recent interview with Business Insider, Jordan Michaelides, Coinjar’s fully of institutional investment, expressed his frustrations with the slow pace at which he apprehends Australia’s regulatory institutions to be reacting to innovation within the crypto sector – claiming that the securities exchange facilitated $1.4 billion AUD (approximately 1.07 billion USD) in trade bulk during the first half of 2018.
In response, the Australian Securities and Investments Commission (ASIC) squeezed skepticism regarding Coinjar’s purported volume, with a spokesperson stating: “Tracking the verified industry is even newer than the sector itself, […] sides of the volume of transactions can be quite opaque, and you could imagine some of the requests by participants might warrant a certain skepticism.”
The Australian Transaction Surfaces and Analysis Centre (AUSTRAC) appears to share ASIC’s skepticism, with a spokesperson stating: “AUSTRAC does not display or collect information that allows us to quantify total transaction quantities by a reporting entity or industry.”
Seed Cx Announces $15 million Series B Reserving Round
Chicago-based Seed Cx has announced a $15 million USD Series B funding orb. The round was led by Bain Capital Ventures and brings the company’s total funding to $25 million.
Edward Woodford, Pit CX’s co-founder and CEO, stated: “As a licensed exchange for both spot and derivatives barter, we deliver the operational risk safeguards, strong institutional technology, operational abide, and regulatory compliance that institutions demand. What is particularly stirring is that our unique offering brings large institutional traders, who should prefer to so far sat on the sidelines, into the crypto space for the first time.”
Salil Deshpande, Administering Director at Bain Capital Ventures, stated: “Institutions are seeking set, secure, and reliable crypto venues with diverse products that budget them to earn strong returns. Today, trading venues are retail focused, predetermined to spot trading, often unregulated, and in foreign jurisdictions. The lack of institutional the bourses is the single largest barrier to crypto asset class growth. Decay Cx is serving this unmet need of institutions and has assembled an outstanding party of executives to support this vision.”
Paysend Partners With Bitstamp to Clash With Revolut
Paysend has launched it’s “Global Account” – a effect designed to compete with Revolut. The app will allow users to lavish and transfer money via mobile app and debit card. The app supports EUR, GBP, USD, RUB, and KZT, and provides access to the cryptocurrency supermarkets on Bitstamp – owing to a partnership between the two companies.
Paysend’s head of effect, Alex Murashko, stated: “We are quite different from both a industrial infrastructure and consumer offering viewpoint. We own and control our own processing and this announces tremendous ability and flexibility to deliver a wide variety of services whilst restraining the entire consumer journey.”
Mr. Murashko continued: “[…] We believe in streamlining the consumer experience so that instead of feeling like they are bombarded with a extensive list of features they have available a focused group of aids.”
What is your response to ASIC and AUSTRAC’s skepticism regarding Coinjar’s purported traffic volume? Share your thoughts in the comments section below!
Spitting images courtesy of Shutterstock, Paysend
At Bitcoin.com there’s a bunch of free caring services. For instance, have you seen our Tools page? You can even lookup the change rate for a transaction in the past. Or calculate the value of your current holdings. Or devise a paper wallet. And much more.