Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Japans crypto exchanges to form self-regulatory body; Goldman Sachs is considering custody offering
A group of 16 licensed Japanese exchanges has formally submitted a proposal to create a self-regulatory organization to Japans Financial Services Agency. The proposal includes self-regulatory rules that require cryptocurrency exchanges to conduct regular audits, restrict trading on certain anonymous cryptocurrencies, and limits on margin trading.
Accenture, a global management consulting and professional services firm, recently filed a patent which aims to enhance the speed and security of blockchain transactions. The patent filed by Accenture states that it can be implemented in various methods, using different combinations of both software and hardware.
The American investment bank is considering offering a custody business for crypto funds. Currently, discussions are ongoing and there is no set timeline for when the firm would launch the service. Nonetheless, a formal offering from a major financial institution, like Goldman Sachs, would provide major support for institutional interest in the digital asset space.
Tim Wagner, former AWS, and Microsoft executive has been hired to lead Coinbases engineering team. Wagner is expected to expand the Coinbase engineering team and build on the companys infrastructure.
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