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Cryptocurrency Daily Roundup - Nov. 5


Here is a summary of some of the major news from the cryptocurrency and blockchain world over the past 24 hours.

HSBC, ING Conduct Blockchain-based Transaction For Reliance Industries

Asia-focused lender HSBC's Indian unit joined with ING Bank Brussels to execute a trade finance transaction with India's Reliance Industries using blockchain technology. In the transaction, the first of its kind in India, the US-based Tricon Energy made a cross border payment to Reliance through blockchain, cutting costs and time significantly.

Taiwan Amends Anti-Money Laundering Laws To Regulate Crypto Transactions
The Taiwanese government made amendments to its anti-money laundering and terrorism financing prevention laws that regulate cryptocurrency transactions, reports said. The Legislative Yuan, Taiwan's highest legislative body, on Friday amended the Money Laundering Control Act and the Terrorism Financing Prevention Act to give the country's Financial Supervisory Commission (FSC) the authority to crack down on anonymous virtual currency transactions.

Coinbase Pro To Add Support For Basic Attention Token

US-based crypto exchange Coinbase is set to launch support for Basic Attention Token (BAT), decentralized ad exchange platform based on Ethereum, on its Coinbase Pro platform. It has started accepting inbound transfers of BAT to Coinbase Pro from Friday. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.

U.K.'s deVere launches actively managed cryptocurrency fund

U.K.-based financial consultancy firm deVere Group launched a new actively managed cryptocurrency fund, meant particularly for for experienced investors. The crypto investment fund called deVere Digital Asset Fund is developed in partnership with Dubai-based hedge fund manager Dalma Capital Management Ltd. The deVere Digital Asset solution will invest in a diversified portfolio of digital assets via algorithmic trading over different platforms, including crypto-currency exchanges and OTC markets, as well as arbitrage opportunities.

Current Prices

As of this writing, Bitcoin is trading up 1.02 percent or $65.01 at $6409.06. Ethereum is climbing 4.46 percent or $8.95 at $209.38 on Coinbase.

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