Brokers News 

Woman used knowledge of tax law to perfectly troll an IRS scammer

“From rich princes in foreign countries to taxes, scammers will try everything in their power to get your money or information” reports thechive.com. Meet Hadeel Al-Massari, a woman from Seattle that had previous jobs dealing with tax laws and codes.Hadeel recently shared her account of dealing with an IRS scammer on Twitter that quickly went viral.If you don’t know how these calls go, a scammer claims to be from the Internal Revenue Service (IRS) explaining that you have “defaulted” on your taxes and unless you pay you will face jail…

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Brokers Crypto News 

Coinbase might become a brokerage firm

“US cryptocurrency company Coinbase is in talks with the US Securities Exchange Commission (SEC) to be registered as a licensed brokerage firm and electronic trading venue” writes Lea Nonninger for businessinsider.com. However, as a licensed brokerage, Coinbase would be allowed to expand its offerings to securities, and thereby such assets.Crypto exchange operators like Coinbase are conventionally not allowed to offer assets to their clients that the SEC deems to be securities. Source: businessinsider.com Share This:

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Brokers News 

Prime Brokerage and counterparty credit risk for FX firms – What’s the current situation?

“Bearing this in mind, banks were taking a very conservative approach to credit risk, even in market conditions which were in their favor” reports financefeeds.com. Indeed, as far back as 2010, the Federal Reserve Bank of New York produced a document about credit risk in FX, detailing its best practice guidelines which apply to banks giving credit to FX brokers and prime brokers on an OTC basis.During recent years, obtaining credit from banks for the purposes of running an OTC derivatives trading firm has become very difficult indeed.A year later,…

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Brokers Crypto News 

India just cracked down on cryptocurrency. Hard.

“Essentially, that means people in India are now unable to move money from bank accounts to exchanges in order to buy cryptocurrency” writes Jack Morse for mashable.com. This development follows on the September news that China ordered the closure of all locally based cryptocurrency exchanges, and then in February attempted to straight up block access to exchange websites.It did, however, just make buying, selling, or using cryptocurrency in the country a heck of a lot harder.While RBI’s move is definitely not good for cryptocurrency in general, it is a far…

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Brokers Crypto News 

The Japanese crypto exchange that was the victim of a $530 million heist is being taken over

“The Coincheck heist was the largest hack yet of a cryptocurrency exchange, according to a recent study by JPMorgan” writes Finanzen Net Gmbh for businessinsider.com. Coincheck, the Japanese cryptocurrency exchange that was hacked to the tune of $530 million in January, is being acquired by online brokerage Monex Group, Nikkei Asian Review reports.There is no word on how much the Japanese brokerage will pay for the embattled exchange, as “the exact form of the investment is still being finalized,” according to Nikkei. Source: businessinsider.com Share This:

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Brokers News 

Coincheck Accepts Takeover Offer with Online Brokerage…

“Tokyo-based cryptocurrency exchange Coincheck has announced that it is to accept a takeover offer from Japanese online brokerage Monex Group” writes Rebecca Campbell for livebitcoinnews.com. Under the new management, Coincheck will receive fresh capital that amounts to several billion yen from Monex.After the hack Coincheck vowed to reimburse 260,000 of its customers, which it has since done.It’s reported that he is a good choice in rebuilding trust due to his experience as president of the online brokerage. Source: livebitcoinnews.com Share This:

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Brokers Crypto News 

Coincheck may be acquired by Japanese online broker

“Japanese online broker Monex Group is in talks with Japanese cryptocurrency exchange Coincheck to take over the company” writes Lea Nonninger for businessinsider.com. Coincheck is likely unprepared to make changes to its management and operations after the hack.Coincheck suffered the largest crypto hack in history earlier this year, when $543 million in customer holdings were stolen from the exchange. Source: businessinsider.com Share This:

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Brokers News 

Serenity Escrow Helping Brokers Attract Crypto-Traders

“These fundamental principles of Serenity platform secure the safety of trading for brokers and traders alike” reports financemagnates.com. We are creating Serenity in the way so that traders and brokers are equal counterparties in the system.We will develop and implement our core product — Serenity escrow system based on a smart contract. Source: financemagnates.com Share This:

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Brokers News 

Japanese Brokerage Monex Considering to Buy Coincheck

“Apparently, the Japanese brokerage is still considering a variety of ways to enter the cryptocurrency space” reports financemagnates.com. Japanese financial services company Monex Group, which has a wide portfolio of brokerages worldwide, is considering to make a big acquisition in the cryptocurrency space, according to a report by the Japanese newswire Nikkei. Source: financemagnates.com Share This:

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Brokers Crypto News 

Bitcoin prices jump after Japanese online broker reportedly makes bid for a crypto exchange

“Bitcoin prices rose above $7,400 Tuesday after reports that Japanese online brokerage firm Monex Group is looking to take over a recently-hacked Japanese cryptocurrency exchange Coincheck” writes Kate Rooney for cnbc.com. “It’s a massive confidence boost, you now have a regulated public company in Japan buying into a crypto exchange,” Kelly said.Monex owns U.S.-based online brokerage TradeStation, which Kelly pointed out would now in one way or another, be attached to Coincheck.Shares of Monex also rose more than 23 percent on the Japanese stock exchange after the report.It also offers…

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