Jamaica Stock Exchange (JSE) to Launch Crypto Asset Trading by Year End

Avi Rosten

The Jamaica Stock Exchange announced today that it will be offering crypto-asset trading by the end of the year.

According to a report by Coindesk, the company announced that it has signed a memorandum of understanding with Blockstation, a Toronto-based company that bills itself as “The Institution’s Choice for Trading Digital Assets,” to build a digital assets trading platform by the end of 2018.

Street Forrest, managing director of the stock exchange, explained where the company sees the deal taking them:

So the end game at the end of the day is to trade tokens, the end game is smart contracts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner.

Adding that they may look into other ways to incorporate blockchain tech, including a possible token listing of their own, she explained how the company sees the capability evolving:

The environment changes, the entire ecosystem changes, so at that point in time that might be the case, [although] at this point in time [their own crptocurrency]…is not a discussion. We have a steering committee that was designed and formulated to look at the Blockstation product, to look at the blockchain technology in general and to go through the phases to ensure that we understand what we are getting involved with and are also trained in what this entire trading of cryptocurrency involves.

Stock Exchanges Getting In on the Act

This latest news will come as somewhat of an encouragement at a time when the bearish market seems to be continuing unabated.

Recent news from other stock exchanges, however, also bodes well for the industry in the longer term.

On August 3rd, ICE (the Intercontinental Exchange) announced that it was launching a new company to be called Bakkt, with the goal of "building an open, seamless global network to enable you to buy, sell, store and spend digital assets simply, safely and efficiently" - with bitcoin futures trading set to be one of the first offerings.

British Court Orders Bitfinex to Freeze $860,000 Tied to Ransomware Attack

  • A British court has ordered Bitfinex to freeze $860K in bitcoin tied to a ransomware payout. 
  • The court also asked the exchange to provide KYC information on the client who owns the account. 

A British court has ordered crypto exchange Bitfinex to freeze $860,000 in bitcoin tied to a ransomware payout. 

According to a report by New Money Review and a filing published last week by the England and Wales High Court, a British court has ordered Bitfinex to freeze the address of an account tied to a ransomware payout and share the know-your-customer information with authorities. 

The report claims that an unnamed firm paid $950,000 in bitcoin as ransom to the perpetrator account through an insurance company intermediate in response to the victim’s computers being hijacked by malware. While some of the ransom was converted to fiat, 96 BTC was transferred to an address on Bitfinex. 

Blockchain security firm Chainalysis released a statement confirming that they had participated in tracking the funds on behalf of the victim’s insurer. Chainalysis Director of Communications Maddie Kennedy said, 

A leading cyber insurer used Chainalysis software to investigate ransomware payments made on behalf of their clients and trace the flow of funds from the point of extortion to known services such as exchanges.

While Bitfinex issued a statement claiming to have “robust systems” in place to assist law enforcement, the exchange declined to confirm whether it would share client information with authorities. 

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