#IntlRoundup: Jamaica Stock Exchange Partners with a Canadian Firm to Introduce Crypto Trading
The global nature of digital currencies makes following international news beneficial for investors and interested market participants. However, due to how fast news travels through the landscape, it can be easy to miss the occasional story now and again.
As part of a regular weekly roundup, Coinsquare News compiled the week’s significant international news headlines. In this edition, we look at a major U.S. mobile carrier being sued as a result of a cryptocurrency theft, the Winklevoss twins pushing back against the SEC, and more.
Jamaica Stock Exchange to Introduce Crypto and Tokens Trading via Canadian Fintech Firm
According to a press release published on Tuesday, the Jamaica Stock Exchange (JSE) will be leveraging the services of a Canadian financial technology company in order to allow cryptocurrencies and digital tokens to be traded on the exchange.
Blockstation, a Toronto based blockchain service provider, has signed a memorandum of understanding with the JSE. The pair will ultimately work to bring cryptocurrency trading to more of Jamaica’s population.
“Through this agreement, JSE may become one of the first international stock exchanges to deploy an online digital currency and token trading platform, including trading, quotes, execution and settlement services, in a format that aligns with current regulatory and compliance standards,” the release stated.
JSE Managing Director, Marlene Street Forrest, further stated that the exchange is setting out to satisfy “considerable investor interest in digital assets.”
The move is one of many examples of Canadian institutions working with international entities in the nascent blockchain industry, including Coinsquare’s recent partnership with DLTA21 to launch a cryptocurrency platform in Japan.
U.S. investor sues AT&T for allegedly causing the theft of his cryptocurrency holdings
According to report this week from CNBC, the victim of a multi-million dollar cryptocurrency theft is suing his mobile provider for behaving negligently.
U.S. investor Michael Terpin claims that he lost around $24 million USD worth of cryptocurrencies as a result of AT&T’s “willing corporation” with a hacker who set out to fraudulently gain access to his funds.
“What AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner,” alleged Terpin’s attorney, as part of the complaint filed in U.S. District Court in Los Angeles.
Terpin claims that his cryptocurrency holdings were stolen through an imposter gaining access to his phone number. He says that this is the result of his service provider, AT&T, providing vital information to a caller that did not follow usual identification procedures, but was given access nonetheless.
Reportedly, AT&T rejected these claims and intends to defend itself in court.
The Winklevoss twins are undeterred by recent SEC decision on ETFs
According to a discussion with Bloomberg, Tyler and Cameron Winklevoss are largely undeterred by an unfavourable decision from the U.S. Securities and Exchange Commission (SEC).
Recently, U.S. regulators rejected the Winklevoss twins’ proposal for a Bitcoin-based Exchange-Traded Fund (ETF). This marks the second time that the duo has had their proposal rejected by the Commission.
“Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail driven market,” said Tyler Winklevoss, in his conversation with Bloomberg. “This will change over time, but it will take time.”
The SEC’s approach to cryptocurrency-based ETFs continues to remain a prominent news story due to its polarizing nature. Beyond the Winklevoss twins wanting to have their proposal approved, proponents and even an SEC commissioner believe greenlighting cryptocurrency ETFs is an important step in allowing the industry to mature.
Last week, Coinsquare News reported that in addition to rejecting the Winklevoss’ twins approval for the second time, the SEC also pushed back a decision regarding a proposal from firms VanEck and Solid X.
Thailand’s SEC approves seven cryptocurrency firms under new regulation
This week, regulators from Thailand’s Securities and Exchange Commission (SEC) announced the approval of seven entities to conduct cryptocurrency trading operations in the country.
The move follows a previous wave of regulations that went into force on May 14th of this year. Since then, Bitcoin.com reported that approximately 50 ICO’s, 20 exchanges, and five ICO portals expressed interest in formally applying with the SEC in order to gain legal status.
While only seven have been approved to operate thus far, the country’s regulators said they are reviewing two other cryptocurrency operators that have filed applications, and could potentially be given the greenlight as well.
At the time of reporting, Thailand’s SEC announced that it will allow Bitcoin Co. Ltd. (BX), Bitkub Online Co. Ltd., Cash2coins Co. Ltd., Group Co. Ltd. (TDAX), and Coin Asset Co. Ltd., to operate legally in the country as “cryptocurrency exchanges.”
Additionally, Coins TH Co. Ltd. and Digital Coin Co. Ltd. (ThaiWM) have been approved to operate as “cryptocurrency dealers.”
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