Last week’s top stories included China coming down hard on token sales, ayondo receiving a new license, and the delisting of EZTrader.
China outlaws the ICO
On Monday, the Chinese authorities confirmed industry speculation by . Cryptocurrency exchanges, token trading platforms, banks and payment service providers in China are no longer allowed to enable ICO participation for their clients, facilitate such fundraising in any way, or have any other connection to companies that raise funds via ICO.
In addition, the authorities demand that funds raised by ICO in the past be returned to investors: “As of the date of this announcement, all types of currency issuance financing activities shall cease immediately. The organizations and individuals who have completed the financing of the tokens should make arrangements for repatriation.”
FCA considers cryptocurrency ICO regulation
On Wednesday, the UK financial regulator told the Financial Times that it is, following the trend of authorities beginning to take notice of these popular new fundraising events.
The FCA noted that while cryptocurrencies offer new opportunities for startups and investors, they are also a cause for concern given that token value can fluctuate greatly.
Malaysian authorities flag ICO risks
The Securities Commission of Malaysia has because of the risk of them not making any returns.
Moving forward, it will be interesting to which other regulators address the subject, and what their approaches will be.
CFTC reports lower US retail FX deposits in July
July results released by the Commodity Futures Trading Commission in the US show that t. GAIN Capital, OANDA Corporation and TD AMERITRADE all showed losses, the largest belonging to OANDA, which saw a drop of $8.3 million, or more than 5.0 percent month-over-month.
The one exception was Interactive Brokers, which saw substantial growth.
The tale of EZTrader
EZTD Inc. filed its delisting notification on Thursday after months of havoc and a very public managerial spat. and involves sports sponsorships, new licenses, license suspensions, fines and employee pay disputes, and ends with the resignation of the founding CEO in 2017.
IS Prime reports rising profits
The institutional-client focused prime brokerage and execution venue on Tuesday . They showed rises in several areas of business, including revenues and profits. IS Prime began trading in March 2015.
Jonathan Brewer, Managing Partner at IS Prime, commented: “We are very proud of this fantastic achievement which we believe cements our position as a global market leader in the Prime of Prime industry. When you look at our financial results in comparison to our peers, I believe we are the fastest growing Prime of Prime and an increasingly dominant and respected participant.”
IS Prime looks into cryptocurrencies
On Friday we with the Managing Partner of IS Prime, Raj Sitlani. After only a couple of years of trading, IS Prime has no outstanding debt, and in the last fiscal year the company’s turnover almost tripled.
Raj Sitlani talked to Finanace Magnates about industry trends, cryptocurrency liquidity and the future of the industry.
ayondo’s new license
On Tuesday we published , this time with CEO of ayondo, Robert Lempka. The social trading company acquired a new portfolio management license from German regulator BaFin.
Lempka explained to Finance Magnates the reason behind the license acquisition, the difficulties involved in achieving approval, and what the company’s plans are in Germany.
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