Crypto Exchange OKEx’s Blockchain Technology Contribution In Malta, Paves Way For Bagging Award

OKEx’s blockchain technology contribution in Malta paved the way for bagging the “Crypto Exchange of the Year” at the recently held Malta Blockchain Summit’s Blockchain Awards. The awards were organized to recognize the efforts of experts, businesses and leaders who made an outstanding contribution to the blockchain technology development in Malta.

Head of Operations OKEx, Andy Cheung mentioned in his statement that receiving this honor is indeed a testament of the exchange’s unrelenting efforts in making changes in the blockchain and the crypto industry. He further added that OKEx never stops innovating to build a robust ecosystem, create the best user experience and improve the crypto industry. Above all, the exchange aims to revolutionize the world using blockchain technology. Cheung said that as a leader, OKEx continues to improve its ecosystem.

In April, Malta welcomed crypto exchange OKEx in a bid to become a crypto-friendly nation. The island country has made it obvious that it intends to become the “Blockchain Island” and seems quite determined to achieve its aim. It recently passed regulatory legislation pertaining to cryptocurrencies, Blockchain and Initial Coin Offerings.

OKEx, on the other hand, started contributing to Malta’s vision with its years of experience in the industry. The exchange which is an expert in blockchain technology has a world-class team of professionals with expertise in investment, marketing, technology and operations. It provides advice on how to apply the power of blockchain technology and tailored professional consultation services, according to a company’s services, products and business model, as stated on its official website.

The recent announcement made by Binance of choosing Malta for their new headquarters is a notable confirmation that Malta is moving towards the right direction regarding Distributed Ledger Technology (DLT). Changpeng Zhao, Binance’s CEO also welcomed other projects such as Tron to Malta, as reported on Cointelegraph.

Crypto Exchange OKEx’s award category was judged by 32 industry leaders and executives with combined experience in the blockchain industry. Apart from OKEx, three other exchanges were nominated in this category. But OKEx stood out amongst its fellow finalists BitBay and Binance, as reported on Business Insider.

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Decentralized Crypto Exchanges Are All About Anonymity, IDEX Becomes Exception

Decentralized crypto exchanges are all about anonymity and that’s where IDEX becomes an exception. Some of the features that lure traders towards decentralized exchanges include privacy, custody and the privilege of gaining access to desirable tokens before they make it to a major exchange platform. The world’s most popular decentralized exchange, IDEX becomes an exception by transitioning to a full verification model.

Cryptocurrencies such as Bitcoin have somewhere facilitated the growth of “darknet” online marketplaces, by providing an anonymous and digital payment mechanism, in which illegal services and goods are traded. However, in recent months, the raft of government regulations that have sprung, have led to the adherence to stringent AML and KYC laws on centralized exchanges. Nowadays, almost every centralized exchange is making AML and KYC guidelines compulsory for it users.

Crypto exchange IDEX has made it to the headlines by introducing KYC requirements. Had it been a centralized exchange, IDEX would not have garnered the same kind of attention. The cryptocurrency community will be closely monitoring the exchange’s decision to see if it is an isolated case or the shape of things to come. Since IDEX captures around 7x the trading volume of its nearest competitor, it definitely exerts significant influence, owing to its dominant position within the decentralized exchange (DEX) market.

Users don’t need any personal ID verification in case of DEX platforms. However, it is important that cryptocurrency innovators keep in mind the needs of the society in general, and consumers in particular. Thus they must ensure legal compliance in order to ensure trust and safety online and also protect the community, as reported on The Medium.

Crypto exchange IDEX explained its transition to a full KYC model stating that decentralization exists on a spectrum. Unless the application or system lacks any centralized parts, it can be subject to regulation. IDEX will be implementing AML/KYC policies apart from blocking IP addresses in order to comply with money laundering laws and sanctions. The number of active users and trading volume has sharply dropped ever since the exchange announced its new KYC policy. However, it is too early to conclusively link the two events, as reported on Bitcoin News.

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Winklevoss Twins Sue Bitcoin Investor Charlie Shrem

The Winklevoss twins have filed a lawsuit against infamous BitInstant founder Charlie Shrem. They claim the Bitcoin investor stole 5,000 Bitcoins from them in 2012.

Winklevoss Twins Lawsuit

According to the New York Times, Shrem made several lavish purchases in 2018 that caught the attention of the Winklevoss twins. They filed a civil suit against him, convinced that Shrem made these purchases—which include a $2 million house and luxury cars—using the Bitcoins he had stolen from them in 2012.

Shrem Worked for the Winklevoss Twins Before Lawsuit

The twins hired Shrem in 2012. Tasked ...

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