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BitMax.io [BTMX.com] Announces Listing of Standard Tokenization Protocol [STPT]

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BitMax.io [BTMX.com] has announced the listing of STPT, the native token of Standard Tokenization Protocol, a decentralized network for the tokenization of an asset.

Trading for the STPT/BTC and STPT/USDT pairs will be enabled on Tuesday, June 25th at 10:00 am EDT.

As part of the listing collaboration, the BitMax.io team will provide strategic support to the STP team throughout the platform launch.

Dr. George Cao, Co-Founder & CEO of BitMax.io, stated,

“STP is a necessary project for the overall space. Their focus on unlocking value and building an ecosystem of high-quality assets in this industry made our decision to list them very easy.”

With the listing of STPT, BitMax.io will strengthen its leading trading platform status by continuously adding solid projects, as well as provide more diversified global exposure to the Standard Tokenization Protocol.

About Standard Tokenization Protocol and STPT

Standard Tokenization Protocol’s STP-Standard is an open-source standard that defines how tokenized assets are generated, issued, sent, and received while complying with all necessary regulations. The protocol allows assets of all kinds to be tokenized in a way that makes them fully compliant across jurisdictions and transferable across any ERC20 platform.

Tokens built on top of the STP-Standard will use the protocol’s on-chain Compliance Validator to verify compliance with relevant regulations [i.e. KYC, AML, Accreditation, etc.] as well as any issuer-specific requirements [i.e. ownership concentration, holding periods, voting]. The Validator Committee will serve an advisory function to ensure the Compliance Validator is enforcing the most up-to-date legislation at all times.

About BitMax.io [BTMX.com]

BitMax.io is the industry’s next-generation digital asset trading platform that provides a broad range of financial products and services to both retail and institutional clients across the globe.

This innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of blockchain, transparency, and reliability, to deliver high-quality client services and trading experience.

BitMax.io always strives to provide its global users with a comprehensive set of trading products. BitMax.io enabled margin trading on Feb. 14th, 2019. The margin trading function is another step forward from a product-offering perspective to better serve their dynamic trading needs.

For BitMax.io users who understand and acknowledge the risks involved in margin trading, they are now able to leverage their tradable asset for a potential higher return on investment through margin trading with sound risk management. The list of digital assets that can be traded on margin has increased from the initial four to 18 different tokens, even including BTMX.

It’s another pioneering move for BitMax.io to enable margin trading in its own native token. It expands the utility functions of BTMX, and incentivizes liquidity on the platform. [The margin trading function of BitMax.io is not available for North American markets.]

Similar to the innovative margin trading launched on BitMax.io, the introduction of this unique Volatility Card has again showcased the team’s deep understanding of the inner working of the capital market and their advanced expertise in financial product design.

BitMax.io Volatility Card is the first volatility-linked derivative product of this platform that allows global users to forecast and trade off price fluctuation of underlying major coins during preset time windows in a simple yet effective way. Named as Turtle and Bunny Card after Aesop’s fable – the Tortoise and the Hare, the card has a quasi-option structure for underlying trading pairs yet largely simplified payout form. Users can purchase a different card for the prediction of price movement either within a certain range [Turtle Card] or above a certain range [Bunny Card].

Those who predict the correct range of price movement will receive the payout equivalent to the notional value of the card. Volatility Card uses a simplified payout form without the complication of settlement and clearing issues common for real currency options. Users just simply select which card to purchase to trade on their view of the volatility of underlying asset either within or above a certain range.

It is easy to understand and use for all types of traders with the need for either very short-term momentum trading or partial risk hedging against outsized price swing in very volatile market conditions.

Conclusion

BitMax.io has experienced significant growth since its launch in 2018 and is deeply committed to providing a high-performance, client-centric trading platform to its global client base. Currently, the platform has over 180,000 registered users, with over 53,000 active community members. The listing of STPT not only broadens its trading pair scope but also helps to attract more volume and users to the platform.

Source :ambcrypto

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Ethereum

ETH/USD technical analysis: Ethereum bleeds below $200 as US senate frowns at Facebook’Libra

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  • The cryto market is bleeding as Facebook’s libra may face legal issues. 
  • ETH is under strong selling pressure now below the $200 mark

Breaking: Bitcoin tumbles under $10,000 as U.S. Senate mulls Facebook’s Libra

ETH/USD daily chart

The July’s selloff keeps going as the market trades below the $200 mark and the 50 and 100 SMAs. Cryptocurrencies are dropping on the back of potential legal and privacy issues with Facebook’s Libra. 

ETH/USD 4-hour chart

The market is seen as weak below 220 resistance and its main SMAs. The level to beat for bears is 180 followed by 120 on the way down.

Additional key levels

ETH/USD

OVERVIEW
Today last price198.54
Today Daily Change-29.55
Today Daily Change %-12.96
Today daily open228.09
TRENDS
Daily SMA20288.68
Daily SMA50275.75
Daily SMA100232.95
Daily SMA200182.55
LEVELS
Previous Daily High235.48
Previous Daily Low202.87
Previous Weekly High318.46
Previous Weekly Low262
Previous Monthly High363.54
Previous Monthly Low226.48
Daily Fibonacci 38.2%223.02
Daily Fibonacci 61.8%215.32
Daily Pivot Point S1208.81
Daily Pivot Point S2189.53
Daily Pivot Point S3176.2
Daily Pivot Point R1241.42
Daily Pivot Point R2254.76
Daily Pivot Point R3274.03

source:.fxstreet.

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Cryptocurrency

Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair

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Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.

Gary Gensler, who chaired the CFTC from 2009 to 2014 and previously held leadership roles at the U.S. Treasury Department, says in written testimony that Facebook’s new cryptocurrency project looks like an investment vehicle and that Libra may even resemble some banking structures.

Gensler will testify before the House Financial Services Committee on Wednesday, as part of a panel of expert witnesses on the potential implications of Libra. He will join Public Citizen president Robert Weissman, Columbia University law professor Katharina Pistor and Georgetown University law professor Chris Brummer.

In Gensler’s remarks, obtained by CoinDesk, he describes how the Libra cryptocurrency might be classified as a security.

At the heart of his argument is Libra’s structure: Libra itself is intended to act as a kind of stablecoin, with its value pegged to a basket of sovereign currencies and government bonds. Members of the Libra Association, the governing council charged with overseeing the cryptocurrency’s ongoing development after it launches, will receive a Libra investment token – a security token, as Facebook has acknowledged.

Collateral earned on the basket of currencies backing Libra (referred to as the Libra Reserve) will go to holders of the investment token, according to documentation Facebook published about the project last month.

Gensler argues this means Libra itself looks like a security, saying:

“As currently proposed, the Libra Reserve, in essence, is a pooled investment vehicle that should at a minimum, be regulated by the Securities and Exchange Commission (SEC), with the Libra Association registering as an investment advisor.”

‘Pooled investment vehicle’

According to Gensler, Libra is a security for the same reasons that the Libra Investment Token is a security.

There may be debates on whether and how Libra qualifies as a security under the Investment Company Act of 1940, the Howey Test, or the “Reves Family Resemblance Test,” but none of these are strictly important for this analysis, he argues, explaining:

“It’s unambiguous that [the Libra Investment Token] is a security as it will receive a net return based upon interest on the Libra Reserve.”

In Gensler’s view, the actual Libra token is “part of the same pooled investment vehicle,” and therefore faces the same market risks as the investment token.

The SEC is already considering whether Libra could be considered a security, and therefore falls under its purview, according to a Wall Street Journal report.

“Further, investor protection will be just as important for the proposed Libra token as it is for investors in international bond funds or in commodity ETFs such as gold, silver, or oil ETFs,” Gensler says. “I also believe that each Authorized Reseller of the Libra token would need to be a registered broker dealer.”

He describes holders of Libra as a “2nd class of investors” in the Libra Reserve.

Bank too?

Securities concerns aside, aspects of Libra’s setup also may fall under banking regulations, Gensler adds.

The Libra Reserve is effectively proposing “a private form of money” which can be used for payments, storing value and lending “the proceeds to banks (as deposits) and governments (as debt securities),” he says.

These applications are similar to services offered by banks.

“Thus, there is some basis to consider the Libra Reserve as a bank or to apply bank-like regulation to it,” Gensler proposes. “At a minimum there should be restrictions on Libra Reserve’s investments and prohibition on its ability to lend or operate as a fractional bank.”

(It’s worth noting there’s actually precedent for a stablecoin issuer operating as a fractional bank: Tether.)

source:coindesk.

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Ripple (XRP/USD) forecast and analysis on July 16, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.3111. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.

Ripple (XRP/USD) forecast and analysis on July 16, 2019

As part of the Ripple course forecast, a test level of 0.3280 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2430. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator at 0.3540.

Ripple (XRP/USD) forecast and analysis on July 16, 2019

Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and closing quotations of the pair above the 0.3650 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on July 16, 2019 implies a test level of 0.3280. Further, it is expected to continue falling to the area below the level of 0.2430. The conservative area for selling Ripple is located area of 0.3540. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3650. In this case, we should expect continued growth.

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