Bitcoin Picks: BitYes Rolls-out Margin Trading & Another Bitcoin Exchange Plans to go Public

Developments continue in the growing virtual currency space. This week saw a flurry of positive news for participants that support the sector, among the stories published on DCMagnates.com we saw a Canadian exchange announce its plan to go public and a US venue that launched a margin Bitcoin trading exchange. In addition, a new SEC filing showed that Overstock.com invested in a regulated broker to develop cryptocurrency trading solutions. Continue reading this week's Bitcoin Picks for all the top stories.

New Margin Trading Venue as BitYes Launches Exchange

US Venue Huobi’s USD-based exchange, BitYes, has launched margin trading and p2p lending. Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term will be 3:1, at an interest rate as low as 0.01% per day. In the p2p lending feature, users will offer loans at their desired interest rates, which can be used by traders in the margin offering. The setup is similar to the margin/interest earning scheme of BitVC and its related Yubibao product.

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Canadian Bitcoin Exchange Newnote Financial Vows to Go Public

Another Canadian Bitcoin exchange will be going public after Newnote Financial Corp acquired Cointrader.net for CAD $1.5 million ($1.18 million) in cash and stock.

Newnote Financial, formerly Winrock Resources, engages in a variety of cryptocurrency related ventures. It is publicly traded on the Canadian Securities Exchange (CSE), a rough equivalent of the US OTC markets, where it has also traded. It is also listed on the Frankfurt Stock Exchange. It currently trades at CAD $0.19 per share for a total valuation of CAD $5.77 million.

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Tera Exchange’s Proposed Collaboration with MGT Capital Crosses Merger Deadline

In a groundbreaking proposal that would secure the first regulated trading exchange for digital currencies the venue in question faces hurdles. The reverse merger agreement that would have taken Tera Exchange public has hit a roadblock.

Tera’s Bitcoin derivative platform was approved by the US Commodity Futures Trading Commission (CFTC) last year, though the derivative products themselves have yet to be approved. Its transformation into a publicly traded company may help further instill investor and user confidence in the platform, which would be subject to greater regulatory oversight and reporting requirements.

MGT Capital is a holding company whose subsidiaries engage in online and mobile gaming. It is traded on NYSE MKT, formerly the American Stock Exchange, worth $0.43 per share and having a total market cap of $6 million.

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Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Is Key as Overstock Aims to Create New Virtual Currency Products With Stake in Broker

Overstock.com says it has acquired a 24.9% stake in an unnamed “registered broker-dealer” as part of efforts to “develop and license software to trade crypto-securities using the Bitcoin network and its protocols.” The company paid $250,000.

The revelation was made in Overstock’s 10-k annual report filing with the Securities and Exchange Commission (SEC) on March 12.

A passionate supporter of Bitcoin and vocal critic of Wall Street, Overstock’s Patrick Byrne announced intentions to create a registered marketplace for “crypto-securities” last year. Dubbed the “Medici” project, the aim is to “democratize Wall Street” and remove the middleman in securities trading, much like Bitcoin is envisioned for the movement of money.

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