The ETERBASE platform has made significant progress in its efforts to become one of Europe’s leading exchanges, with a regulatory assessment from Liechtenstein’s Financial Markets Authority (FMA). Exchanges that are not regulated or in violation of jurisdictional rules will find it more difficult to compete in the long-term.
The Liechtenstein FMA Regulatory Assessment
The Liechtenstein FMA’s declaration that they will not regulate the crypto-to-crypto ETERBASE business model is another positive move for the growing cryptocurrency exchange. Lichtenstein is known as a jurisdiction that is very friendly towards DLT and is something of a blockchain hub.
The FMA further asserted that the issuance of the ETERBASE token (“XBASE”) in its Initial Coin Offering (ICO) was not an activity that was subsumed under a currency exchange. The FMA relied on the legal opinion submitted to the regulator in making its decision not to regulate the cryptocurrency exchange. According to the ETERBASE blog–
“Liechtenstein has followed the legal opinion as submitted to the regulator and does not intend to regulate the crypto-to-crypto business of ETERBASE at this time…This is because ETERBASE will not exchange crypto-to-fiat pairs on its own account, and instead will be merely matching exchange orders”
Who are ETERBASE?
ETERBASE are seeking to become the world’s first fully regulated exchange, and are closer towards this accreditation than any other cryptocurrency exchange. Their KYC and AML procedures are more robust than their competitors, of which the majority are seeking on doing the minimum or else avoiding regulations altogether.
But ETERBASE are also offering much more than regulation of customers seeking crypto trading, and are potentially going to replace traditional banking services. They are currently in the process of acquiring an Electronic Money Institution (EMI) licence.
This licence will enable ETERBASE to clear payments in the Single Euro Payments Area (SEPA) and to distribute debit cards to users. Customers can be issued International Bank Account Numbers (IBANs) and avail of typical fiat financial services, along with all modern cryptocurrency services.
SEPA covers over 500 million people and over 20 million businesses, so ETERBASE could soon be the biggest crypto exchange on the globe. The exchange has few competitors, especially in Europe, and is breaking into a market that other cryptocurrency exchanges have yet to venture.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
How Cryptocurrencies Will Change Online Gambling in the Future
Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.
An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.
A Post-Legality Era
Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.
In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…
VOLUM (VLM) Announces Commencement of Token Generation Event
ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.
Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.
The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.
“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…
How to Secure Yourself in Relation to Bitcoin: Top VPN Services
Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.
Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.
What is a VPN?
Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.
While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.
Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…
Is Bex500 an alternative to BitMEX?
EOS now available on eToroX exchange
How Bitcoin Has Changed Online Gaming
Bitcoin2 weeks ago
The advantages of bitcoin sports betting
Featured news1 week ago
How Tax Agencies Are Going After Crypto Traders
Bitcoin1 week ago
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Bitcoin1 week ago
Will Bakkt Push Bitcoin into the Mainstream?
Trade1 week ago
Trusted third parties should issue stablecoins, not Facebook
Trade1 week ago
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
Featured news1 week ago
Five Strategies for Lowering Your Crypto Taxes
Hot Updates1 week ago
The Best Thing to Share with Your Family on Thanksgiving