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Top Five Exchange OKEx Launches Thai Baht Trading on Its P2P Platform

Top five exchange okex launches thai baht trading on its p2p platform

Top Five Exchange OKEx Launches Thai Baht Trading on Its P2P Platform

Top five exchange okex launches thai baht trading on its p2p platform

Top five Cryptocurrency exchange OKEx has launched support for Thai baht-crypto trading on its client-to-client (C2C) platform, a press release shared with Cointelegraph on Feb. 14 reveals.

According to the press release, currently only ₿itcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC) can be traded with the Thai baht on the exchange’s peer-to-peer platform.

The exchange first announced that it would be adding support for the fiat currency in a post on Jan. 23. The post was also dedicated to recruiting merchants for the new market.

In the same press release, the crypto exchange also announced that it had recently hosted a conference in Bangkok “to bring industry leaders together to exchange ideas on blockchain technology.” During the conference, dubbed MindXchange, participants reportedly also discussed the latest local regulatory developments in crypto and blockchain.

OKEx is currently the world’s fourth largest crypto exchange by daily trading volumes, seeing about $446.6 million in trades on the day to press time.

As Cointelegraph reported in December last year, Thailand’s securities regulator is planning a public hearing with the aim of loosening rules that form a “barrier” to running initial coin offerings.

In January, news broke that the National Electronics and Computer Technology Center (NECTEC) of Thailand has developed blockchain technology for e-voting, set to be used in tandem with traditional voting. Still, according to NECTEC, once 5G is fully adopted, all votes in the country will be cast using the technology.

Published at Thu, 14 Feb 2019 18:01:00 +0000

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Fed Financial Statements: $6 Billion Drop in Fed Remittances

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mises.org / C.Jay Engel / March 24, 2017

As the Fed continues to increase the rate of interest it pays on excess reserves, the Fed’s profits that are left over are slowly going to shrink in size. Since the Fed sends its profits to the US Treasury each year, the US Treasury will be receiving less. The Wall Street Journal reported on Friday:

The Federal Reserve sent $91.5 billion in profits to the Treasury Department last year, a $6 billion decline that officials have long expected as a result of rising interest rates.

The Fed’s total net income declined by $7.6 billion, to $92.4 billion, according to the Fed’s audited financial statements released Friday. The decline was primarily the result of higher interest payments it made to banks on the reserves they keep at the central bank.

David Howden has explained this process — and the implications for “Fed independence” — rather nicely:

Each year, the Fed remits to the US Treasury its net income, and thus provides the federal government with an important source of funding.

For the US Treasury, Fed remittances are something of a free lunch. When someone buys a Treasury bond, the government must pay them interest. This applies to the Fed as well, but then at year-end the Fed remits the interest back to the Treasury.

READ MORE

The post Fed Financial Statements: $6 Billion Drop in Fed Remittances appeared first on Silver For The People.

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