Crypto Corner - June 14, 2018
Coinbase Launches Index Fund, Thailand’s SEC Anticipates Approval of 5 ICOs and Binance Expands to Jersey
Crypto exchange giant Coinbase announced the launch of the Coinbase Index Fund yesterday in a blog post. It is currently only available to U.S. accredited investors for investments between $250,000 USD to $20 million USD. The blog post details how the index works and that Ethereum Classic (ETC), announced yesterday, will join Coinbase's other listed assets (Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH)).
Coinbase Index Fund gives investors exposure to all assets listed on our exchange, weighted by market capitalization. As we announced yesterday, the fund will be rebalanced to include Ethereum Classic, and more assets when they are listed by Coinbase in the future.
Thailand's Securities and Exchange Commission (SEC) anticipates the approval of five ICO's for fundraising out of 50 applicants this month according to local outlet the Bangkok Post. Thawatchai Kiatkwankul, director of corporate finance in the equity department at the SEC did not identify the five ICOs, but indicated that applicants that are vetted smoothly and are conducive to the market would be favoured for selection.
"Projects which can be [easily vetted] and have commercial attributes attached to them will be considered for fund-raising," Mr Thawatchai said.
The world's largest crypto exchange, Binance, is expanding to the island of Jersey according to a recent press release. Digital Jersey, an organization devoted to fostering digital industry in Jersey, signed a memorandum of understanding (MOU) with Binance to "develop a compliance base and cryptocurrency exchange in Jersey". Having recently expanded to Malta, Binance CEO Changpeng Zhao explained the move to Jersey:
"We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP), and its close proximity to the UK and Western Europe, we are confident the cooperation with Jersey will not only benefit the local economy, but also form a strong operational foundation for our expansion into the rest of Europe."
Sam Mowers, Investorideas
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