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Saudi Arabia Officials Warn that Bitcoin Trading is Illegal

Despite the country’s proactive and seemingly positive approach towards blockchain-based technologies, cryptocurrency trading remains heavily outlawed, officials reiterate. Bitcoin and Other Cryptocurrencies Are Illegal A standing committee, headed by the Capital Market Authority in Saudi Arabia and including representatives of the Ministry of Trade and Investment, the Ministry of Information, and the Saudi Arabian Monetary…

Saudi Regulators Warn Against Trading Cryptocurrencies, Citing ‘High Market Risks’

A governmental committee of the Kingdom of Saudi Arabia has warned the public that trading digital currencies is illegal in the country, according to an Aug. 12 announcement by the Saudi Arabian Monetary Authority (SAMA). The warning was issued by the Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in the Foreign Exchange…

Bitcoin Trading Is Illegal in Saudi Arabia, Warn Watchdogs

A governmental committee comprised of Saudi Arabian regulators has issued a statement warning that cryptocurrency trading is illegal in the kingdom. According to a statement issued Sunday, the standing committee warned against trading in cryptocurrencies due to “negative consequences and high risks on traders as they are out of government supervision.” It went on to clarify:…

Crypto Exchange Bittrex Expands Adds Ethereum Classic and XRP Trading Pairs

Cryptocurrency exchange and wallet service Bittrex has announced plans to launch U.S. dollar (USD) trading pairs for two new cryptocurrencies, according to an official announcement published August 8. Per the announcement, Bittrex is looking to expand its fiat markets to Ethereum Classic (ETC) and Ripple (XRP) on August 20. The new trading pairs will be…

Robinhood Adds Ethereum Classic To Its Trading App — Beating Coinbase To The Punch

On Monday, Robinhood Financial announced that it would launch ethereum classic (ETC) on its trading platform — making it the sixth digital currency it has listed. This news comes one day before Coinbase is to add ETC to its exchange. At $5.6 billion, Robinhood’s newly launched crypto-trading platform is growing. On Monday, it announced that…

LedgerX Claims ‘Record’ July for Bitcoin Options Trading

Bitcoin derivatives trading provider LedgerX says it saw a “record” amount of trading volume over the last two months. The firm cleared $50 million in derivatives volume in July alone, president and chief risk officer Juthica Chou told CoinDesk. Earlier this month, the firm also executed its largest trade to date for a December $15,000…

Robinhood Adds Ethereum Classic to Crypto Trading App

Robinhood announced Monday that its customers can now invest in ethereum classic (ETC), just a day before Coinbase adds the option too. The company said in a blog post that the option went live today on its Robinhood Crypto app, adding that only those in the 19 U.S. states with access to the service can trade…

BitBay Partners With German Firm to Enable Equity Token Trading with Fiat Currencies

Cryptocurrency exchange BitBay has partnered with a Berlin-based blockchain-powered equity fundraising platform Neufund, according to an August 2 press release. The partnership will reportedly enable investors to buy and sell equity tokens with fiat currencies. According to the press release, Neufund is aiming to become the first end-to-end primary issuance platform for security tokens, specializing…

Germany’s 2nd Largest Stock Exchange to Launch ICO Platform, Multilateral Crypto Trading

Germany’s second largest stock exchange, the Stuttgart Börse, has revealed plans to develop a new platform for Initial Coin Offerings (ICO) as well as a multilateral crypto trading venue, Finextra reported August 2. The German bourse, which had a trading volume of EUR 81 billion (about $95 billion) across all asset classes in 2017, had…

Bithumb Sees 40% Trading Volume Drop After User Registration Suspension

Trading volume at one of the world’s largest cryptocurrency exchanges has plummeted by 40 percent in three days after it temporarily stopped opening new user accounts. South Korea’s Bithumb exchange – which suffered a $31 million hack in June – said in a blog post on July 31 that it will suspend the opening of…