According to the latest news on a news website, Circle is honoring its first full year since developing Poloniex as of February 25th. The old-style gift for this festivity is paper that does not interpret blockchain and cryptocurrency technology at all. In its place, Circle has decided to give their customers half-off exchange fees.
This information trails the unique promise the Circle made when the gaining was confirmed in 2018 to be committed
“to continuous improvement and have spent much of the last year getting Poloniex on a stronger foundation.”
Poloniex and Deribit, the most prevalent cryptocurrency exchanges, have temporarily postponed activities. On Twitter, both exchanges informed their customers that they had been experiencing technical issues with their platforms.
Poloniex, for instance, mentioned that they had some practical problems and that trading had been incapacitated. At the same time, trading was placed into conservation mode.
As the crypto community has terribly gifted the hack that Cryptopia old, users can be disturbed that alternative platforms may be targeted and attacked by hackers. In addition, each exchange, Poloniex, and Deribit was affected throughout the identical hour, which has conjointly raised issues among crypto users.
It is perpetually vital to store digital assets in victimization hardware wallets instead of exchanges. Centralized platforms that handle digital assets on behalf of their shoppers are sometimes targeted by attackers. Hardware wallets are presently the safest thanks to storing virtual currencies.
Looking down the road, Circle is perhaps going to “clean up” Poloniex. At once, Poloniex trades many initial coin offering (ICO) tokens. In the past, however, the U.S. Securities and Exchange Commission (SEC) expressed that it considers most ICO tokens to be unregistered securities.
The SEC has conjointly prompted that crypto-to-crypto exchanges operative within the U.S., like Poloniex, Bittrex, and Kraken, that trade those tokens is possibly going against the law, which needs that securities will solely be listed on SEC-registered exchanges.
In that lightweight, it’s straightforward to check why the Circle acquisition is also a decent move for Poloniex. In keeping with a slide from a confidential Circle presentation posted on Twitter by big apple Times newsman Nathaniel Popper, it seems Circle has plans to show Poloniex into a commissioned various commerce system (ATS), on the lines of what stock is doing with tZero.
In keeping with the slide, when closing the sale, Circle can begin licensing Poloniex with the SEC and the money business administrative unit (FINRA).