✅ NYDFS greenlists 10 cryptos / 💱 WireX money transmitter / 📉 NAV premium of ETHE declines

New York Dept. of Financial Services (NYDFS) has published a greenlist of the virtual currencies that it approves for custody and listing

Inside.com Part of   Network August 10, 2020

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Market Watch Bitcoin $11,865 7 day: +4.1% Ethereum $395 7 day: +0.8% XRP $0.295 7 day: -6.9% Prices as of 3:45 p.m. ET

The New York Dept. of Financial Services (NYDFS) has published a "greenlist" of the virtual currencies that it approves for custody and listing. It includes eight tokens for both custody and listing, plus two tokens for custody only. More: Stablecoins approved for custody and listing: Gemini Dollar (GUSD) Paxos Standard (PAX) Pax Gold (PAXG) Binance USD (BUSD) Traditional cryptocurrencies approved for custody and listing: Bitcoin (BTC) Ethereum (ETH) Bitcoin Cash (BCH) Litecoin (LTC) Traditional cryptocurrencies approved for custody only: Ethereum Classic (ETC) Ripple (XRP) Attackers have 51% attacked and double-spent over $7m of stolen ETC during the past 30 days alone. Various XRP lawsuits are ongoing. NYDFS granted Paxos, formerly known as itBit, its first trust charter on May 7, 2015. Other BitLicense holders are listed here. The requirements for greenlisting are outlined in this flowchart. New York Dept. of Financial Services

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The State of Georgia Department of Banking and Finance awards WireX a money transmission license. Georgia is the first U.S. state to grant WireX the license. More: WireX is a U.K.-based crypto debit card provider claiming to serve three million customers. Last month, Mastercard awarded a principal membership license to WireX, allowing it to issue cards directly to consumers. WireX's license number in Georgia is 67727.  The Block Crypto

The Net Asset Value (NAV) premium of Grayscale's Ethereum Trust (OTCQX:ETHE) has declined from 949% on June 4 to roughly 163% today. Because no cryptocurrency ETFs trade on U.S. exchanges, trusts can trade at substantial premiums to their underlying assets. About cryptocurrency trusts: Trusts allow institutional investors to acquire the underlying assets of a trust (e.g. bitcoins) and then participate in private placements, creating new trust units. Following customary lock-up periods, they can sell their units to retail investors, often at a premium to NAV. ETHE has also filed a Form 10 seeking SEC approval to reduce its lock-up period from 12 to 6 months,  The 163% NAV premium of ETHE is substantially higher than the NAV premium of Grayscale Bitcoin Trust (OTCQX:GBTC), which has declined from its high of 31% on June 10 to roughly 17% today. ETFs are more robust, dynamically adjusting assets according to inflows. The SEC has rejected all cryptocurrency ETF applications to date. The Block Crypto

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Bittrex and Poloniex are pursuing summary judgment against Tether (USDT) and Bitfinex in their market manipulation lawsuit. New York authorities have separately accused Bitfinex and Tether of fraud. More: The motion seeks summary judgment on the basis that all defendants' arguments "rest on a demonstrably false factual premise." Attorneys for Bittrex and Poloniex argue that Bitfinex provided cryptocurrency addresses to the court claiming they belonged to legitimate customers, when the addresses were in fact controlled by Bitfinex. Coindesk

Quick Hits: Coinbase Pro opens inbound transfers for its newest listing, Band Protocol (BAND). Trading is estimated to begin tomorrow at noon EDT. The U.S. Cyber Command reminds whistleblowers of a $10m bounty for information leading to the identification or location of any foreign government actor interfering with U.S. elections. The Financial Markets Authority in the Netherlands (AFM) has approved Max Crowdfund, a blockchain-based crowdfunding platform for real estate-backed loans. Another DeFi darling has septupled this month: Yearn.finance's token YFI. Germany's Federal Financial Supervisory Authority is closing unlicensed bitcoin ATMs. California Attorney General Xavier Becerra warns of ongoing cryptocurrency scams. The fittest athletes in the world swear by CBD. See what they're using here. * * This is a sponsored post

Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia.  Editor Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade.

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