Tuesday, 15 October 2019

Crypto Licence in Netherlands, Kraken’s Private Listing: Best of the Week

Catch up on the top stories from the past week.

Kraken prepares private listing at $4B Valuation

Kraken, a US-based cryptocurrency exchange, revealed this week that it is considering a private offering through an email sent to its most prominent clients informing them on the investment.

In the email, customers are encouraged to fill out a survey in order to get additional information. However, the company did say that the valuation at which Kraken is listing its shares for sale is $4 billion and the minimum investment size is $100,000.

Kraken highlighted in the email that it doesn’t need financing, but given the current bear market and its “significant reserves” Kraken sees an opportunity for acquisitions. Email recipients have until December 16 to respond to the survey.

The Netherlands to Introduce Crypto Licence

According to a bulletin published in De Telegraaf, the Netherlands is planning to introduce a cryptocurrency licence which will be monitored by its central bank. Whilst the report doesn’t reveal too much, it does say that De Nederlandsche Bank would issue licences to cryptocurrency firms that identify their customers and report suspicious transactions.

At present, the bill is in public consultation allowing people to submit their opinions to the bank. This move is in an effort to fight money laundering – an issue which has been making headlines in recent months involving well-known banks and terrorism financing.

Retail Broker’s Declining Shares

In the wake of changing regulation in the forex industry, this year has been quite a rocky one for shareholders of publicly listed retail brokers. As Finance Magnates reported, throughout 2018 retail brokers have been largely underperforming the broad stock market.

In fact, the only brokers which haven’t seen a large drop in shares are those which are buying back their own stock. So which brokers, in particular, have taken the hit? Read more here to find out.

Will Altcoins Rise in 2019?

Unless you’ve been sleeping under a rock, you’ve probably heard about bitcoin’s woes in 2018. The legend that is Bitcoin has taken a large hit in the past 12 months and as such, this has dominated the news.
As a result, the success and failures of altcoins have taken a back seat. However, altcoins are far from dead. In a report, Finance Magnates addresses the question – will altcoins rise again in 2019?

PoS Cryptocurrency Systems On the Rise

As cryptocurrencies become more and more mainstream within the financial sector, the number of retailers that accept virtual currencies are on the rise. As this demand grows, so does the need for cryptocurrency point of sale (PoS) systems.

A recent report from Finance Magnates takes a closer look into the rise of these systems and the increasing acceptance of cryptocurrencies by retailers – despite Bitcoin’s plummeting value this year, which you can read here.

Top FX Mergers and Acquisitions in 2018

2018 was a big year for mergers and acquisitions – CME Group overtook NEX plc, OANDA was acquired and Paypal bought iZettle to name a few. Billions of dollars exchanged hands during the past 12 months – so what were some of the biggest acquisitions and mergers in 2018?

You can read this report by Finance Magnates which takes a look at the biggest deals made in the institutional trading space, retail trading world, payments industry and the cryptocurrency space.

Top 5 Executive Moves in the Forex Industry for 2018

2018 was also a big year for executive moves. With a changing regulatory space CEO’s have been under more pressure than ever to keep their company afloat. However, the ESMA regulations caused some casualties, bringing top executives down with them, such as the former CEO of IG Group, Peter Hetherington.

But which were the biggest moves in the forex industry during the year?


source: finacemagnates.com 
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