Musiccosmos

The biggest cryptocurrency exchange in the U.S. just set up its core principles for its institutional financial products. Three months after Coinbase introduced its suite of institutional products in May, the startup has unveiled a series of “fundamental beliefs” about how the company will operate and develop its institutional investor-focused business lines. According to an August 20 blog post written by Adam White, Coinbase’s vice president and general manager, the leading cryptocurrency exchange has set up five core principles. These include the operation of “fair and orderly” markets, enforcing transparent market rules, offering “fair access to all market participants,” disclosing listing practices and market rules publicly, and safeguarding clients “with institutional-grade infrastructure and processes.” As White explained: “This set of fundamental beliefs will act as our North Star as we design, develop, and operate our products. Ultimately, we intend for these core...

Mobile payments firm Square now lets customers buy and sell bitcoins via its Cash App in all 50 U.S. states. The company – which was co-founded by Twitter chief executive Jack Dorsey – announced the service expansion through a Tweet on Monday, months after the firm initially rolled out the bitcoin service to investors in the country. As reported by CoinDesk, Square officially launched the bitcoin purchasing option on its Cash App in January following a testing phase started last year. However, the service was not offered in the states of New York, Georgia, Hawaii and Wyoming due to their more restrictive regulations regarding bitcoin transactions. In fact, Coinbase  suspended  its bitcoin buying service in Hawaii last year after regulators in the state imposed a double reserve requirement on the exchange, meaning it would have been required to maintain cash reserves equal to any cryptocurrency funds held for its customers. In March, though, Square expanded t...