Gemini Supports #Zcash, CME Partners to Launch #Ether Index and Thailand #Crypto Laws in Effect


Crypto Corner - May 14, 2018

Gemini Supports Zcash, CME Partners to Launch Ether Index and Thailand Crypto Laws in Effect

Gemini announced today that it is now licensed to support Zcash (ZEC). The exchange, founded by Tyler and Cameron Winklevoss, said: "Starting on Saturday, May 19th at 9:30am EDT customers will be able to start depositing Zcash into their Gemini accounts" and that "trading will begin on Tuesday, May 22nd at 9:30am EDT."

The press release indicated that Gemini is the first cryptocurrency exchange to secure licensing for Zcash and that they will provide a secure trading experience for investors.

"Our approval makes Gemini the first licensed Zcash exchange in the world. It also makes the NYSDFS the first regulatory agency in the world to supervise Zcash, reaffirming their position as the leading financial regulator in the area of digital assets. Regulatory certainty and oversight are critical for both fostering innovation and protecting consumers - and we're excited to provide our customers with a safe, secure, and regulated platform to buy, sell, and store Zcash. We are proud to be supporting this new and incredible technology, and contributing to the next generation economy and the future of money."

Derivatives marketplace CME Group has partnered up with crypto trading platform Crypto Facilities Ltd. to launch an Ether Reference Rate and an Ether Real Time Index. The press release indicates that the launch "will provide a daily benchmark price in U.S. dollars":

""The Ether Reference Rate and Real Time Index are designed to meet the evolving needs of this marketplace," said Tim McCourt, Managing Director and Global Head of Equity Products and Alternative Investments at CME Group. "Providing price transparency and a credible price reference source is a key development for users of Ethereum.""

Cryptocurrency regulation is now in place in Thailand, according to a report in the Bangkok Post. This comes after Thai finance minister Apisak Tantivorawong called for laws governing the space in March to "prevent money laundering, tax avoidance and crime." The 100-section law was published in the Royal Gazette.

According to CoinMarketCap, the cryptocurrency market has gone from around $440 billion USD on Thursday to about $409 billion USD at press time. Bitcoin (BTC), which accounts for around 37 percent of the total market share, went from roughly $9300 USD to about $8800 USD in the same time frame.

Sam Mowers, Investorideas.com