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Mexican Crypto Exchange Bitso to Post Solvency Report Next Month

Bitso has yielded to the demands of users to release its solvency status.Binance, Coinbase (NASDAQ:COIN), and KuCoin have published specific details of users’ funds under...
Mexican Crypto Exchange Bitso to Post Solvency Report Next Month © Reuters Mexican Crypto Exchange Bitso to Post Solvency Report Next Month
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  • Bitso has yielded to the demands of users to release its solvency status.
  • Binance, Coinbase (NASDAQ:COIN), and KuCoin have published specific details of users’ funds under their watch.
  • However, Bitso’s chief regulatory officer thinks the platforms need to do more.

According to a senior representative who spoke to Reuters, the Mexican crypto exchange Bitso has yielded to the demands of users to release a transparency roadmap detailing its solvency status.

The report noted that Bitso would publish a solvency report in less than a month, and the exchange is currently selecting an external partner to conduct the audit. This development comes after the former second-largest crypto exchange went bankrupt, sparking a need for existing asset managers to show proof of customer funds.

Binance, Coinbase, and KuCoin are among the significant crypto marketplaces that have published specific details of users’ funds under their watch. However, Bitso’s chief regulatory officer, Felipe Vallejo, thinks these platforms need to do more.

Vallejo said:

The proofs of funds published by some companies are insufficient since they only show assets and do not reflect how much crypto or money it owes its users.

Notably, the recent collapse of FTX has brought forward more substantial debates on crypto asset regulations. Senator Elizabeth Warren of the United States recently told regulators that given the implosion of FTX, either they regulate the activities of the crypto industry or the economy would go down.

According to Warren, the ‘dangerously delusional’ claims of the financial scams that failed in the previous 14 years also apply to crypto. Reportedly, Brazilian lawmakers are accelerating the regulation of crypto, and it is anticipated that the US Congress will take action in the industry next year.

Bitso’s chief regulatory officer believes well-constructed rules could be an advantage, removing bad actors from the ecosystem.

The post Mexican Crypto Exchange Bitso to Post Solvency Report Next Month appeared first on Coin Edition.

See original on CoinEdition

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09-12-2022 02:54:35 (UTC+7)

EUR/USD

1.0560

+0.0055 (+0.52%)

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↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (9)

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EUR/USD

1.0560

+0.0055 (+0.52%)

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Moving Avg:

Buy (12)

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GBP/USD

1.2243

+0.0044 (+0.36%)

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Buy (6)

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USD/JPY

136.65

+0.04 (+0.03%)

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Buy (3)

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AUD/USD

0.6773

+0.0052 (+0.77%)

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USD/CAD

1.3580

-0.0070 (-0.52%)

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EUR/JPY

144.29

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EUR/CHF

0.9884

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23.288

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76.28

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Euro Stoxx 50

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S&P 500

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DAX

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FTSE 100

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Hang Seng

19,450.23

+635.41 (+3.38%)

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Neutral

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US Small Cap 2000

1,811.15

+3.32 (+0.18%)

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IBEX 35

8,225.20

-57.20 (0.00%)

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BASF SE NA O.N.

47.100

-0.325 (-0.69%)

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Bayer AG NA

52.73

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Allianz SE VNA O.N.

203.65

0.00 (0.00%)

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Adidas AG

117.54

-0.02 (-0.02%)

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Deutsche Lufthansa AG

7.712

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Siemens AG Class N

132.00

-0.90 (-0.68%)

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Deutsche Bank AG

10.022

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    EUR/USD 1.0560 ↑ Buy  
    GBP/USD 1.2243 Sell  
    USD/JPY 136.65 ↑ Sell  
    AUD/USD 0.6773 ↑ Buy  
    USD/CAD 1.3580 Sell  
    EUR/JPY 144.29 Sell  
    EUR/CHF 0.9884 ↑ Sell  
    Gold 1,802.25 ↑ Buy  
    Silver 23.288 ↑ Buy  
    Copper 3.8827 ↑ Sell  
    Crude Oil WTI 71.67 ↑ Buy  
    Brent Oil 76.28 Neutral  
    Natural Gas 5.982 ↑ Sell  
    US Coffee C 159.73 ↑ Buy  
    Euro Stoxx 50 3,921.27 ↑ Sell  
    S&P 500 3,960.22 ↑ Buy  
    DAX 14,264.56 ↑ Sell  
    FTSE 100 7,472.17 ↑ Sell  
    Hang Seng 19,450.23 Neutral  
    Small Cap 2000 1,811.15 ↑ Buy  
    IBEX 35 8,225.20 ↑ Sell  
    BASF 47.100 Neutral  
    Bayer 52.73 ↑ Sell  
    Allianz 203.65 ↑ Sell  
    Adidas 117.54 ↑ Buy  
    Lufthansa 7.712 ↑ Sell  
    Siemens AG 132.00 ↑ Sell  
    Deutsche Bank AG 10.022 ↑ Sell  
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# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,720
(0/ 0) # 1,589
SJC HCM6,635/ 6,715
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SJC Hanoi6,635/ 6,717
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Cập nhật lúc 18:54:34 08/12/2022
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