France approves the first regulated ICO – The Financial Supervisory Authority of France has approved the first ICO regulated under the new ICO Visa rules. This is a fundraising platform called French-ICO.
The sale will take place in March 2020 and aims to raise 1 million euros in total.
The MFA said in June that it is analyzing four ICO visa applications submitted under the new cryptocurrency legislation.
The PACTE law for the crypto industry was implemented earlier this year and is one of the most comprehensive in Europe. The regulatory authority may approve public offers for utility tokens, and the issuer must be a registered entity in France. They must also have procedures for securing investor funds and comply with strict anti-money laundering (AML) requirements. Once approved, the ICO must take place within six months.
The legal framework provides legal security to companies, which includes a guaranteed bank account. It also offers the option to sell tokens using the so-called ICO visa.
Australia revokes operating licenses for three crypto exchanges
The Australian AML agency AUSTRAC has revoked three licenses granted to crypto exchanges due to suspicions of “links with criminal organizations”.
Of the three exchanges, two belong to AUSCOIN ATM and one belongs to MK Buy & Sell. Both exchanges were accused of being linked to organized crime.
The third canceled license belongs to Howzat Domains, operated by Webpark.
In addition, another operator, Cryptocurrency Transaction Machines, was also suspended in November.
AUSTRAC representatives stated that the agency has the right to revoke the licenses granted if there are suspicions of involvement in illegal activities of the companies concerned.
Binance launches BCH futures contracts with 75x leverage
The Binance Exchange announced the launch of the third type of futures contracts, those based on Bitcoin Cash. They are available with leverage of up to 75x, similar to those based on Ethereum.
In September last year, Binance launched BTC futures contracts, with a leverage of 125x.
How to trade on Binance!
These allow traders to hedge positions and manage risk, giving them an opportunity for higher profits using margins.
Binance has invested an undisclosed amount of money this week in the FTX derivative platform, as part of a strategic partnership between the two companies.
Coin Floor announces that it will list Ethereum and BCH from 2020
The CoinFloor exchange announced that it has been listing the ETH and tokens based on this blockchain since January 3. The platform licensed by the Financial Conduct Authority (FCA) in the UK has said it will focus exclusively on Bitcoin.
“No other cryptocurrency comes close to the bitcoin track record, either in terms of industry support or brand recognition, so focusing on bitcoin makes sense to us.”
The company’s CEO added that bitcoin is “immune to inflation” and that this cryptocurrency could become “the best form of money”.
Also, CoinFloor said it plans to remove BCH from the platform in the near future.
Instead, the exchange will offer bitcoin-based crypto lending services.
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