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Crypto

Russian central bank considers allowing banks, brokers to run crypto exchanges

Russia's central bank is considering a plan that would allow banks and securities firms to operate cryptocurrency exchanges using their existing financial licences, The Block reported on March 6. Under the proposal, firms would receive approval through a notification procedure rather than obtaining a separate new licence. Central Bank Governor Elvira Nabiullina cited existing anti-money laundering and counter-terrorist financing infrastructure. She also proposed limiting banks' risk to 1 percent of capital.

Crypto

OKX launches in-app social network Orbit for real-time trading and performance verification

Cryptocurrency exchange OKX has introduced an in-app social networking feature called Orbit, The Block reported on Thursday. OKX aims to address trust problems in online trading communities. Orbit will be preinstalled in the OKX app and rolled out in stages as a beta to some users from Thursday. Users can discuss markets, host livestreams and execute trades in real time, and can choose to disclose verified metrics such as portfolio performance, profit and loss, and win rate.

Crypto

Coinbase launches cross-margin for institutions integrating spot and derivatives

Coinbase Prime, the institutional arm of Coinbase, has introduced regulator-approved futures trading and a cross-margin function that integrates spot and derivatives positions, The Block reported on Thursday. Investors can access more than 20 futures contracts around the clock through Coinbase Financial Markets, a CFTC-regulated futures commission merchant service that includes perpetual futures. Coinbase said the feature can improve capital efficiency for hedging strategies such as basis trades.