FMA Holds Off Regulating Eterbase Exchange, Huobi to Rebrand Hadax
In recent news pertaining to cryptocurrency exchanges, Liechtenstein’s financial regulator will hold off on introducing legislation governing the operations of crypto-to-crypto virtual currency exchange Eterbase, Huobi has announced that it’s Autonomous Digital Asset Exchange will be rebranded to “Huobi Next” before merging with Huobi Global and Spotware has announced the launch of an “out-of-the-box” cryptocurrency exchange platform.
Liechtenstein FMA Holds Off on Regulating Eterbase Exchange
The Financial Markets Authority of Liechtenstein has decided against imposing regulatory guidelines on the operations of Eterbase AG – a crypto-to-crypto virtual currency exchange. According to a post published to Eterbase’s blog, “The FMA has made legal certainty regarding the fiat or currency exchange business model and has declined its applicability. This is because Eterbase will not exchange crypto-to-fiat pairs on its own account, and instead will be merely matching exchange orders.” Eterbase added that the issuance of its ICO “is not deemed an activity which may be subsumed under a currency exchange pursuant to the FMA.”
Huobi Announces Hadax Will Merge With Huobi Global
The Huobi Autonomous Digital Asset Exchange (Hadax) will be upgraded and rebranded to “Huobi Next,” before merging with Huobi Global. A blog post published by the exchange describes the merger as being the product of “a long-term strategic perspective,” adding that “The merged Huobi Next will be shown in an unified interface with Huobi Global, where trading of all coins on the Hadax will be shifted to Huobi Global. The voting and Project Center will also be merged to the main website together with Huobi Next. Huobi Global will share the brand potential, the trading users and other resources of Huobi Global with Huobi Next.”
Spotware Launches Out-of-the-Box Crypto Exchange Software
Earlier this month, Spotware, a Cyprus-based company that provides new trading platforms for brokers, announced the launch of “Cxchange” – an “out-of-the-box” cryptocurrency exchange platform that “allows anyone to begin a crypto exchange.” Alexander Shuman, the CEO of Spotware, stated: “We used our expertise and proven technologies to create Cxchange. There are only a few solutions available in the market resembling Cxchange, but our platform is a high-quality product unlike other ones, as it was developed by a specialist financial software development company.” Spotware’s website states that Cxchange provides “robust and scalable architecture, a matching engine that may support any asset, high level of security, and 24/7 technical support from Spotware.”