Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin
In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.
Also Read: A Bitcoin Rat Is Occupying Wall Street
Skepticism on Twitter over
Aggressive Yobit Campaign
Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. 11. According to Yobit’s Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.
The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange that’s already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.
In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.
Okgroup Founder Vows Full Compliance
with Planned Stablecoin
Star Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.
In a recent tweet, Mr. Xu posted: “Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin.” Xu added that “the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.”
Xu also spoke in favor of stablecoins, stating: “Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is it’s electronic. Today, the amount of cash in China’s domestic monetary system is not small.”
Coinbase Executive Optimistic About Securing Regulatory Approval in Japan
In a recent interview with Nikkei Asian Review, Mike Lempres, the chief policy officer of Coinbase, optimistically discussed the exchange’s desire to obtain regulatory approval to operate in Japan.
Lempres stated that talks are “going well” with Japan’s Financial Services Authority, adding: “We are … committed to getting it done. It will certainly be in 2019.”
Lempres also spoke favorably of the Japanese regulatory system relating to cryptocurrencies. “The Japanese government is more focused on security,” he explained. “That is good for us … Japan has been an active large market from the very beginning, and has proved resilient as it bounces back from several bad experiences. We think there is great demand for a trusted provider of services here.”
Despite his praise for Japan’s crypto regulations, Lempres noted that there are still several issues to be resolved, including whether or not the regulator would require Coinbase to manage its systems from within Japan in order to obtain a license. “We have everything built to protect our storage … in the U.S,” he stated. “We won’t do anything to even raise (the) possibility of a hack. It would be hard for us to duplicate what we do in the U.S. today in Japan and other countries.”
What is your response to Yobit’s random coin pump? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Twitter
The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.
The post Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin appeared first on Bitcoin News.
You may be interested
Major Spanish Bank BBVA Closes €150 Mln Loan With Porsche Holding Using Blockchainbtcethereumadmin - December 14, 2018
Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria, has closed a €150 million loan using blockchain technology. Spain’s second largest…
Bitcoin Cash Tanks 13 Percent as Major Cryptocurrencies All Fall Hardbtcethereumadmin - December 14, 2018
The cryptocurrency bear market continues in earnest as Bitcoin Cash investors in particular see holdings evaporate. Friday, Dec. 14 —…
Top Crypto Exchange Binance Adds Circle’s USDC to Its Combined Stablecoin Marketbtcethereumadmin - December 14, 2018
Major crypto exchange Binance has added Circle’s USD-pegged stablecoin USD Coin as a quote asset in its combined Stablecoin Market.…