Home ICYMI VanEck, Solid X Launch ETF Product; Netherlands New Crypto Rules, HK Protesters...

VanEck, Solid X Launch ETF Product; Netherlands New Crypto Rules, HK Protesters Use P2P Apps

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. VanEck and SolidX to launch ETF-like institutional product. The Netherlands announces new crypto rules. Hong Kong protesters adopt P2P messaging apps. FanDuel on boards BitPay as bitcoin payment processor. Venezuelan insurance company now accepts bitcoin cash, and Bitfinex introduces 100x leverage trading.

VanEck And SolidX Will Debut Limited ETF for Institutional Customers

vaneck

Despite the numerous SEC postponements of each ETF proposal, the idea of a Bitcoin ETF is still being studied by several startups. Now, the duo of VanEck and SolidX will issue ETF shares for a number of qualified institutional investors by way of Rule 144A of the Securities Act of 1933. VanEck’s head of ETF products, Ed Lopez claimed “there continues to be steady demand from institutional investors seeking access to a cleared product that offers the price return of Bitcoin,” despite the SEC concerns about the market.

Netherlands Announces New Batch of Crypto Rules

vaneck

The Bank of Netherlands announced a new set of cryptocurrency regulations that will start being applied in January. Under the new rules, every cryptocurrency service provider will have to identify itself. The statement reads in parts how “firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”

Hong Kong Protesters Abandon Telegram for P2P Alternatives

vaneck

Hong Kong protesters relied upon Telegram to organize their encounters and plan actions, but after the disclosure of a bug allowing authorities to get the real phone number of Telegram group participants, protesters migrated to less potentially dangerous options. Even now that the bug has been patched, organizers are using P2P based chat apps like Bridgefy and FireChat, platforms relying on a Bluetooth mesh of clients locally intertwined, passing messages from client to client to reach desired recipients.

Users Will Be Able to Deposit Bitcoin on FanDuel Thanks to BitPay

FanDuel, one of the most important fantasy sports providers and bookmakers, is partnering with BitPay, one of the biggest cryptocurrency payment providers, to allow customers to make deposits in bitcoin. “NFL Football is one of the most popular sporting events to watch and the start of the football season makes it a perfect time to introduce Bitcoin to these fans,” BitPay CEO Sonny Sing declared. Users who register for the first time and deposit at least $10K in bitcoin will earn a 10% bonus up to $2K.

Venezuelan Insurance Company Starts Accepting BCH

Venezuela is surely becoming a hotbed for cryptocurrency adoption, as more and more businesses are using cryptocurrencies for payments. SefiSeguros, a company that offers car insurance services for drivers all across the country, sold its first insurance plan purchased with bitcoin cash. The company will now accept BCH in their 12 locations, making it easier for customers to pay while protecting their savings from huge devaluation and inflation rates hitting the country.

Bitfinex Introduces 100x Leverage Trading

Bitfinex, a Hong Kong-based cryptocurrency exchange, introduced 100x leveraged margin trading for BTC and ethereum vs tether pairs. This is a controverted move because with 100x leverage a trade can be liquidated over even a slight price fluctuation of 1% in any direction. Previously, the exchange allowed leveraging of only slightly more than 3x. Bitfinex CTO Paolo Ardoino stated they were “excited about the possibilities for creating new, previously unavailable products through our new platform.”

vaneckCONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.

DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.