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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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Bulgaria Could Slash its National Debt Thanks to Seized BTC

Whilst early investors are rejoicing about the recent surge in the price of bitcoin, the increase is delighting elsewhere too. As part of a national anti-corruption operation in Bulgaria back in May, the government there seized 213,519 BTC from organised criminals. Today, these coins are worth $3.6 billion, or to put it another way, around one fifth of the entire country’s national debt. At the time they were seized, they were only worth $500 million.

The confiscations followed a widespread crackdown by the Southeast European Law Enforcement Centre (SELC). ZeroHedge report that it was in response to cases of customs fraud perpetrated by organised criminals. A large-scale search of over 100 properties led to 23 arrests. Of this number, five were Bulgarian customs officers. Computers, tablets, bank documents, and other communications equipment were also seized. The story was picked up by Russia Today. According to them, the SELC said:

The organized criminal group consisted of Bulgarian nationals with connections in the former Yugoslav Republic of Macedonia, Greece, Romania, and Serbia.

Local police contend that the group had managed to infect customs’ computer systems with a virus. The goal was to falsify data about shipping containers. They would mark certain containers waiting to be exported as having already gone through the necessary checks prior to departure. Naturally, unchecked shipments could contain literally anything, and having such a compromised route for illicit goods is a very valuable asset to a criminal network. The SELC believe that the decision was made to use bitcoin as a way of storing profits because it’s more difficult to track and follow than traditional currencies.

What’s perhaps more interesting than the seizure itself is what the Bulgarian government plans on doing with the coins. For now, there has been no official announcement. Will they follow the US example of privately auctioning confiscated coin being as such a windfall could dramatically aid their economy. One Twitter user expressed the fear that’s sure to have crossed many minds:

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The temptation to flood the market with the seized coins must be strong being as Bulgaria could immediately repay 18% of their national debt instantly. However, they could equally decide to take the riskier strategy of becoming a long-term hoarder of the cryptocurrency and potentially use it to back their own currency in the future. Just a thought, Bulgaria. We wouldn’t want you to do anything too hasty now.

 

Image: ShutterStock

 

The post Bulgaria Could Slash its National Debt Thanks to Seized BTC appeared first on NEWSBTC.

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