Regulated DAeX Is Well On Its Way

Digital Assets Exchange (DAeX)

Digital Assets Exchange (DAeX) is a platform where people trade assets in digital forms, or digital forms of representation of real world assets. Currently, majority of digital assets traded over the virtual world are in the form of tokens (be it assets backed or not) or cryptocurrencies. Think of it as something similar to conventional stock or forex market, only this time, it serves the digital assets developed mainly via Blockchain or DLT based solutions.

Nation-state backed / regulation compliant DAeX (Digital Assets Exchange) – the ship is sailing.

Another industry progress log to Blockchain Insider’s article: Two Monetary Worlds & Three Phases of Cryptocurrencies

As the regulators steps in, we start seeing the formation of institutional or corporate backed cryptocurrencies in the making. The center of the universe will be the exchanges, where transactions happen and interoperability is in progress.

Related industry progress as reported by Cointelegraph between 24th and 28th March 2019

Study: 14% of Major Crypto Exchanges Are Licensed by Regulators

In the study, Coinfirm evaluated the exchanges into seven categories of risk, including license and authorization, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance, Anti-Money Laundering (AML) compliance, sanctions, senior public figures, jurisdiction, and negative and adverse media.

Japan Green Lights 2nd Crypto Exchange for April Launch as Data Shows Huge Interest

“With the concept of ‘connecting and exchanging all values and making transactions simple,’ DeCurret aims to become ‘a major financial servicer for digital currency’ that sets standard [sic] for secured and convenient digital currency transaction,” DeCurret summarized in the press release.

Tagomi Holdings’ Subsidiary Gets BitLicense from New York DFS

The firm’s parent company, Tagomi Holdings, was launched by PayPal co-founder Peter Thiel’s venture capital firm in December 2018. The company represents an electronic brokerage for digital assets offering cross market execution, capital management, post-trading reporting, as well as settlement and custodial services.

With that, Tagomi Trading is an institutional-grade aggregation platform for trading virtual currency assets and executes trades across multiple liquidity venues, the DFS’ statement explains.

New Partnership Purports to Create First Approved Crypto Exchange in Vietnam

The collaboration is designed to facilitate the production of digital currency and the creation of a cryptocurrency exchange in Vietnam, to which the companies have supposedly received an appropriate license. The establishment of an authorized cryptocurrency exchange could be a large step for the industry in Vietnam, as the government has previously taken a hard line against digital assets.

E-Commerce Firm Rakuten Readies Cryptocurrency Exchange for April Launch After Name Change

Rakuten, which follows several major Japanese tech players in entering the crypto exchange market, renamed its product from Everybody’s Bitcoin earlier this month. The company had acquired the exchange under the former name in August last year for 265 million yen (at the time $2.4 million).

Japan: Yahoo!-Backed Cryptocurrency Exchange Set for May Launch

Japanese cryptocurrency exchange Taotao (formerly BitARG) will start trading a limited range of cryptocurrencies in May. The plans originally came to light in March 2018, when Yahoo! Japan announced it would acquire a major stake in the exchange through its subsidiary, YJFX. At the time, sources suggested the purchase had cost the company around 2 billion yen (then $19 million).

US Institutional Crypto Exchange Seed CX Expands to Asia With New Partnership

United States-based institutional cryptocurrency exchange Seed CX has partnered with Singapore-based fintech company Hydra X to offer its trading service in Asia. Seed CX is a licensed digital asset exchange for both spot market and U.S. Commodities and Futures Trading Commission (CFTC)-regulated derivatives. As Cointelegraph reported at the time, Seed CX closed a $15 million funding round led by alternative investment firm Bain Capital in September last year.

LocalBitcoins Announces Supervision by Financial Supervisory Authority of Finland

International peer-to-peer (P2P) crypto exchange LocalBitcoins will soon become supervised by the Financial Supervisory Authority of Finland. On March 18, LocalBitcoins launched a new account registration process, and is now working on a more efficient and safe identity verification process. The company noted that corporate accounts will undergo a separate verification process. Along with the regulatory announcement, LocalBitcoins also stated that it is developing tools to increase compliance with regulators.

Featured Image by Gerd Altmann from Pixabay