The cryptocurrency space and the blockchain technology underlying it is constantly evolving. National authorities, central banks, regulators, and lawyers are constantly trying to keep up the pace. There are very few occasions where blockchain technology presents one with the opportunity to formulate legal arguments and an even broader legal strategy.

The Bitgrail / Nano / XRB saga, however, presents us with such an opportunity.

The saga involves a cryptocurrency called XRB, which comes from a blockchain called Nano. Nano developers are based in the US. The white paper for XRB was published in late 2014. According to sources and reports, ... (read more)

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The push for more substantial data capabilities and analytics solutions continues to drive innovation in 2018. This has led to an increased demand for smart data and analytics solutions from providers such as big xyt. Societe Generale Corporate & Investment Banking (SG CIB) has become the latest group to adopt big xyt’s Liquidity Cockpit.

Liquidity Cockpit is a widely used utility that helps provide a consolidated view across all European trading venue activity. This includes on- and off-exchange liquidity as well as over-the-counter (OTC) equities and Systematic Internaliser (SI) transactions.

Richard Hills, Global Co-Head of Cash Equity Execution, in Prime Services at ... (read more)

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One of the hottest deals for the London financial industry is expected to conclude in the second half of the year. We are referring to the acquisition of NEX Group by the Chicago-based CME Group.

The CME has established a new corporate entity called CME London Limited which will be executing the bid for the company after the boards of NEX Group, CME London Limited and the CME Group have previously announced that they reached an agreement on the terms of the deal.

The Scheme Document which details the different phases of the acquisition has been sent to shareholders of the London-headquartered ... (read more)

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Omaha-based brokerage firm TD Ameritrade has pasted an ASCII flag imprint on the Bitcoin permanent ledger to advertise about the company on the blockchain.

According to the company, it sent 68 consecutive Bitcoin transactions to create a digital logo printing the company’s name. It used the OP_Return feature of the bitcoin protocol, that allows inserting any message regarding the transaction, to pass the characters. However, the transactions were invalid and no exchange of Bitcoin happened. Due to the very nature of the blockchain, the flag containing TD Ameritrade’s will be there permanently on Bitcoin’s ledger.

In the official announcement, the company noted: ... (read more)

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MobileCoin, a privacy-centric cryptocurrency project, has recently secured $30 million in a Binance Labs-led fundraising event. Binance Labs is a blockchain startup incubator associated with the leading cryptocurrency exchange Binance.

MobileCoin announced the fundraising event in a blog post on Tuesday and revealed that the entire amount is denominated in Bitcoin and Ethereum. Moreover, due to the association with Binance, there is a chance that the exchange will list the coin soon, which, otherwise, is a rigorous process.

Commenting on the fundraising event, a representative of Binance Labs stated: “As one of the market leaders in the space, our mission ... (read more)

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Credit Suisse has reported its first quarter financials, looking to get on track after a US tax writedown effectively erased its entirely yearly gains. In looking at the latest figures, Q1 2018 thus looks to have corroborated CEO Tidjane Thiam’s recovery plan, with several key areas of growth.

The Swiss lender like many other banks have been hard pressed to find positive earnings in recent quarters. Many of them, like Credit Suisse, were hit with a debilitating $2.34 billion (CHF 2.3 billion) US tax writedown that led to a yearly loss. More precisely, Credit Suisse reported its third straight ... (read more)

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After several months of the doldrums, Bitcoin Cash (BCH) seems like it’s on it’s way back up. A week ago, on April 18th, the price of a single BCH token was worth about $770. At press time, the value of a single BCH token was $1293, a nearly 40 percent increase, despite the fact that it had fallen 16 percent from its high of roughly $1560 yesterday. BCH’s trading volume has also softly echoed its price movement

Despite this rise in valuation, BCH is still a far cry from its December heights of roughly $3,650. At the time, BCH fans were ... (read more)

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Following a month of rumours regarding the sale of Luxembourg-based cryptocurrency exchange Bitstamp to an unknown South Korean investor, the possible name of the possible buyer is revealed by anonymous sources to be video game developer Nexon.

Nexon is a video game company from South Korea, famous for developing games such as FIFA Online and Counter-Strike. Founded in 1995, it moved its headquarters to Tokyo in 2005 but maintains offices in South Korea, the US, Taiwan and Thailand.

The company’s $1.2 billion initial public offering on the Tokyo Stock Exchange in December 2011 was Japan’s largest in that year and the second ... (read more)

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SWIFT’s global payments innovation (gpi) service has garnered a notable addition to its overall network, adding one of the world’s largest banks in HSBC. The SWIFT gpi continues to gain market traction in 2018, covering over 220 country corridors despite only being in service for a year.

HSBC is the latest addition to the gpi service, which now includes over fifty live venues utilizing its network. SWIFT’s gpi aims to increase the overall speed, transparency and traceability of cross-border payments for users, which in turn allows banks to credit payments to end beneficiaries within minutes.

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The Hong Kong Securities and Futures Commission (SFC) has reprimanded CN Capital Management Limited (CN Capital) and issued a  $1,000,000 fine for not being able to maintain an effective compliance function and satisfactory internal controls concerning employee account dealings.

In addition, the SFC has also reprimanded the company’s responsible officers, George Chan Yee Lee and Stephen Ng Wing Leung and handed them fines of $100,000 each for failure to comply with the employee account dealing requirements under the Fund Manager Code of Conduct.

According to the SFC, the two men breached the core principle that persons engaged in fund ... (read more)

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