Roundup – 10/04/2019 – Bitstamp Receives BitLicense in New York & more

Bitstamp Receives BitLicense in New York

The Slovenian exchange Bitstamp has snatched a BitLicense. The coveted license allows crypto companies to run their business in New York. Bitstamp has confined its business to Europe since launching in 2011. With its move to New York the exchange seeks primarily to attract institutional investors from the US. Bitstamp is well-established in the cryptocurrency business and has survived many bearish cycles. An advantage in comparison to newer exchanges and companies that expanded aggressively and now have to scale down their operations massively.

QuadrigaCX – Court Rules Bankruptcy Placement

The Nova Source Supreme Court in Canada has ruled to place QuadrigaCX in bankrupty. Since January the company has been working under the Companies’ Creditors Arrangement Act (CCAA). However, on the 18th of April there will be another hearing on a possible extension of the CCAA. In any case, the possibility for a successful restructuration and compensation of lost funds is unlikely. Last week, the law firm Ernst and Young that monitors QuadrigaCX, in this case, managed to find about €400.000 of QuadrigaCX deposited at various payment service providers.

Gibraltar Stock Exchange Lists Security Tokens

The Gibraltar Stock Exchange (GSX) now accepts tokenized assets on its market. Investors can trade from now on security token on the regulated market of GSX. The exchange announced this yesterday in its press release. It makes GSX the world’s first exchange to enable the trade of security token trading on a regulated secondary market.

Ziliqa – The First Cryptocurrency To Implement Sharding

Sharding is a layer one solution that could possibly solve the scalability problem of many cryptocurrencies. The development of layer two solutions (e.g. Lightning, Raiden Network) is important. However, layer one solutions, i.e. that is scaling solutions that work on the blockchain will always have priority as layer two solutions rely on the blockchain. Thus, with growing adoption of a cryptocurrency,
the first layer will always have to scale at least to a certain degree. Did Ziliqa provide a useful scaling solution?

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Africa’s Varying Standpoints On Blockchain And Cryptocurrencies

Regions such as the EU are set to adopt a unified approach to regulating Cryptocurrencies and Blockchain technology. However, African countries have contrasting standpoints casting doubt of whether the continent will ever achieve consensus to realize economic benefits that are accrued to uniform Digital Tokens and DLT regulations regionally.

For instance, reports show that Namibia and Zimbabwe intend to prohibit the use of Cryptos and Blockchain. On the other hand, Mauritius is set to embrace the technology on the basis of the economic dividends that Tokenization proffers.

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