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Cboe Acquires Trade Alert to Bolster Information Solutions Offering

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Cboe Global Markets, Inc. continues its streak of acquisitions, with the company announcing today in Chicago that it has acquired the business of Trade Alert, LLC, to further bolster its Information Solutions offering.

Trade Alert is a real-time alerts and order flow analysis service provider. Under the acquisition, the company will integrate with Cboe Information Solutions’ suite of data solutions, analytics and indices.

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The Information Solutions offering from Cboe, one of the largest exchange holding companies, is designed to help optimise the customer experience throughout the life cycle of a transaction.

Acquisition allows Cboe to deliver real-time data

By acquiring Trade Alert, Cboe will now be able to deliver real-time trade data, market information and alerts, as well as its content, such as thought leadership, directly to its clients.

Commenting on the transaction, Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets said in the statement: “We are constantly engaging with our customers and working with them to develop smart, innovative solutions that address their needs. 

“Adding Trade Alert’s highly-curated information, alerts and messaging to Cboe’s existing Information Solutions offering will help our customers make sense of the abundance of raw market data available, arming them with solutions that can simplify complexity within the derivatives markets. We are excited to welcome Henry and the full Trade Alert team to Cboe Global Markets.” 

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Trade Alert was founded in 2005 by Henry Schwartz. The New York-based company focuses on the synthesis and distribution of securities market intelligence to financial professionals.

“Since 2005, Trade Alert has focused on helping our global network of institutional and self-directed traders maintain the highest degree of awareness and understanding of market activity to better inform trading decisions and client service,” added Henry Schwartz, in the statement. 

“I couldn’t be more pleased to bring our real-time alerts and analytics to Cboe where the value of our market intelligence will further enhance Cboe’s robust Information Solutions offering.”

Cboe continues acquisition streak

In recent months, Cboe has been acquiring a number of companies. In February it acquired Hanweck and FT Options, with the aim of building out the data analytics component of its Information Solutions group.

As Finance Magnates reported, in May, the exchange operator announced it has entered into a definitive agreement to acquire the MATCHNow dark pool for Canadian equities from Virtu Financial. The transaction is expected to close in the third quarter of this year.

In addition, the company also entered into a definitive agreement to acquire EuroCCP, a pan-European equities clearinghouse, as part of its efforts to expand into equities trading and clearing in Europe towards the end of last year.

Source: https://www.financemagnates.com/institutional-forex/exchanges/cboe-acquires-trade-alert-to-bolster-information-solutions-offering/

Blockchain

IRS gets access to crypto exchange Circle’s user data, targets Kraken next

Shortly after getting a court authorization to obtain records of cryptocurrency exchange Circle’s customers, the US Internal Revenue Service (IRS) is now seeking to get access to similar data from trading platform Kraken.

The post IRS gets access to crypto exchange Circle’s user data, targets Kraken next appeared first on CryptoSlate.

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Shortly after getting a court authorization to obtain records of cryptocurrency exchange Circle’s customers, the US Internal Revenue Service (IRS) is now seeking to get access to similar data from trading platform Kraken.

“Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer,” said acting assistant attorney general David Hubbert of the Justice Department’s Tax Division, adding, “The Department of Justice will continue to work with the IRS to ensure that cryptocurrency owners are paying their fair share of taxes.”

Earlier this week, a federal court in Massachusetts approved the IRS’s request to serve a John Doe summons on “Circle Internet Financial Inc., or its predecessors, subsidiaries, divisions, and affiliates, including Poloniex LLC (collectively ‘Circle’).”

With this move, the IRS wants to identify the U.S. taxpayers who transferred $20,000 or more via transactions that involved cryptocurrencies between 2016 and 2020. According to the regulator, it needs the exchanges’ documents to check if those crypto traders are paying their taxes in full.

“Tools like the John Doe summons authorized today send the clear message to U.S. taxpayers that the IRS is working to ensure that they are fully compliant in their use of virtual currency,” said IRS Commissioner Chuck Rettig, adding:

“The John Doe summons is a step to enable the IRS to uncover those who are failing to properly report their virtual currency transactions. We will enforce the law where we find systemic non-compliance or fraud.”

Kraken is next in line

After Circle, the Department of Justice has filed a similar request for the tax regulator with the United States District Court for the Northern District of California, seeking to reveal customer records from Kraken.

However, this time around, the court denied the initial filing, arguing that it is “overboard” and the IRS needs to narrow down its request, The Block reported yesterday.

Namely, the court stated that “complete user preferences,” “any other records of Know-Your-Customer due diligence,” and “correspondence between Kraken and the User or any third party with access to the account pertaining to the account” are all too “broad categories of information.”

The judge’s order reportedly said:

“Any such response must specifically address why each category of information sought is narrowly tailored to the IRS’s investigative needs, including whether requests for more invasive and all-encompassing categories of information could be deferred until after the IRS has reviewed basic account registration information and transaction histories.”

Now, the IRS has until April 14 to refile a new “narrowly tailored” version of its request.

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Source: https://cryptoslate.com/irs-gets-access-to-crypto-exchange-circles-user-data-targets-kraken-next/

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Blockchain

Cryptocurrency exchange volumes surpassed $1 trillion for second month in a row in March

Crypto exchange volumes surpassed $1 trillion in March — the second consecutive month that volumes have reached thirteen figures.

The post Cryptocurrency exchange volumes surpassed $1 trillion for second month in a row in March appeared first on The Block.

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Crypto exchange volumes surpassed $1 trillion in March — the second consecutive month that volumes have reached thirteen figures.

According to data compiled by The Block, spot trading volumes for March totaled $1.17 trillion. That’s a 5% decrease from February’s all-time high volume of $1.23 trillion. 

A breakdown of March’s crypto-only exchange volumes shows that 65% of it came from Binance, 18% from Huobi, and 15% from OKEx. 

March’s total for fiat exchange volumes was $406.51 billion. The top three crypto exchanges with fiat support were Coinbase (with 22% of the volume), Upbit (21%), and Kraken (11%). 

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Source: https://www.theblockcrypto.com/linked/100346/cryptocurrency-exchange-volumes-one-trillion-march?utm_source=rss&utm_medium=rss

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Blockchain

A comprehensive regulatory overview of the United Arab Emirates


Quick Take

  • The UAE recently introduced a new and comprehensive regulatory framework for digital assets.
  • With its regulatory advances, the UAE is likely to set new standards for digital assets in the West Asia region, given the synergies with its highly beneficial regulatory environment for private individuals and businesses alike.
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This report is for Research Members

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.


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Source: https://www.theblockcrypto.com/genesis/99945/regulatory-overview-uae?utm_source=rss&utm_medium=rss

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Blockchain

KuCoin Test Network Kratos Beta Officially Ends

KuCoin, one of the world’s top cryptocurrency exchanges, announces that their KuChain team is bringing Kratos beta network to the next stage of development. The team shares gratitude with the community who participated in the beta launch.  The official statement on KuCoin’s blog assures the community that the Kratos beta laid the foundation for important […]

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KuCoin, one of the world’s top cryptocurrency exchanges, announces that their KuChain team is bringing Kratos beta network to the next stage of development. The team shares gratitude with the community who participated in the beta launch. 

The official statement on KuCoin’s blog assures the community that the Kratos beta laid the foundation for important developments that are taking place on KuChain. 

With that said, KuCoin Community Chain (KCC) officially made its way into stable development and is expected to deploy in the first half of 2021. 

KCC is a high caliber decentralized public blockchain created by KuCoin. The reason behind this technology is to provide a more seamless and efficient experience for people who want to interact with the blockchain. 

KuChain was proudly developed based on Ethereum. Therefore, KCC will be completely integrated with Ethereum and will be ERC-20 compatible. It’s important to note,however, that KuCoin Token (KCS) will still be the sole payment accepted for gas on KCC.

KuCoin extends gratitude to their community, and are eager to share updates as the development process continues. 

About KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 6 million users in 207 countries and regions around the world. In 2018, KuCoin has secured $20 million in Round A funding from IDG Capital and Matrix Partners.

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Source: https://www.cryptoglobe.com/latest/2021/04/kucoin-test-network-kratos-beta-officially-ends/

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