The co-founder of Coinbundle Saad Rizvi recently met the Philippines National Secretary for the finalization of Coinbundle registration. There is no denying that this is a major achievement on the part of Coinbundle. After the registration it will become much easier for Coinbundle to reach out to its customers. The users can easily start with their investments right away.
Plus the registration of Coinbundle will also create new jobs in the job market. This exchange has the honour of being one of 15 companies that are making investments in the Cagayan Economic Zone Authority.
CEZA can be termed as an economic zone that offers tax incentives to companies that are successfully operating the Fintech industry. The registration of Coinbundle will encourage financial innovation. Plus, the investors will also be able to get the necessary protection they need because they will have access to exchanges like Coinbundle that are registered.
This means that the investors can look forward to transparent operation if they decide to invest in Coinbundle. There is also a lot happening at the end of Okex as wello, the third largest digital currency exchange in terms of volume.
Okex received reports from users that they had suddenly experience massive balances in their accounts. This is why Okex decided to suspend the withdrawals on 22nd May 2018. The users also reported abnormal cryptocurrency prices.
Apparently, it seems that Okex wants to investigate this issue and this is why it has suspended the withdrawals. After the initial investigation Okex revealed that there had been a technical error and this is why the balance of some of the users was not displaying correctly.
Okex has also ensured the users that the fix of the issue will not affect the balances of the users in anyway and their balances will remain safe. At the moment Okex is on a mission to verify the data of the users.
Singapore is also taking major steps to promote digital currency. The Monetary Authority of Singapore has already decided to evaluate its legislations that focus on the regulation of exchanges.
The benefit of this practice is that Singapore will be able to evaluate whether the regulation of the exchanges is in line with the changing economic landscape. At the moment Singapore is thinking on the lines of coming up with a three tier RMO for the market operators. The financial institutions have also been invited to give in their comments in this regard.