In today’s edition of Crypto Daily News, we cover why Vitalik Buterin slammed centralized cryptocurrency exchanges, the Philippines making moves in cryptocurrency, and HBUS’s opening in the United States.
Crypto Daily News: Vitalik Buterin Hates Centralized Exchanges
On July 6th, Vitalik Buterin spoke in a ‘fireside‘ chat with Jon Evans at the TechCrunch Session focused on the blockchain. Most of the session was about Buterin’s hate for centralized cryptocurrency exchanges.
“I definitely hope centralized exchanges go burn in hell as much as possible,” Buterin told Evans heatedly.
His ideal situation would be to have crypto-to-crypto exchanges, but those are a long way from making their way to the market. There would be no ‘login’ or ‘sign up,’ and the money would be sent to a wallet or an output address. The exchange would only act as an input/output tunnel.
Buterin’s biggest frustration with centralized exchanges has to do with the fees associated with them. Some exchanges charge $10 – $15 million to let people trade their tokens on the exchange.
Ultimately, the Ethereum co-founder feels it would be difficult to live in a world where everything is either centralized or decentralized because everyone has different needs.
Crypto Daily News: The Philippines Makes Progress in Crypto
The Bangko Sentral ng Pilipinas (BSP) has just approved two new cryptocurrency exchanges. Now, there are five total approved exchanges within the country, but it seems there are far more still pending approval.
29 crypto exchanges are waiting for approval in the Philippines. Its central bank approved 5 crypto exchanges.
Philippines also created a tax-reduced area for crypto startups.
Meanwhile, India is unfairly punishing its exchanges with a “ban,” which will only lead to isolation.
— Joseph Young (@iamjosephyoung) July 8, 2018
The tax cuts for crypto startups in the country is a big deal and will drive the expansion of blockchain in the Philippines.
Crypto Daily News: HBUS Open For Business
The Huobi group’s US entity, HBUS, just announced that it has opened its US sign-ups.
We are psyched to announce that trading on https://t.co/my09CYlJdZ will begin on July 10th! Say goodbye to boring trading platforms and say hello to first-in-class customer service and variety. #blockchain #decentralization #virtualcurrencies https://t.co/sICJArpaKc pic.twitter.com/rHBGaRO2R7
— HBUS (U.S. Partner of Huobi) (@hbusofficial) July 9, 2018
The exchange is 100% compliant with all authorities within the US and will begin trades starting on the 10th of this month. In the first 30 days, HBUS is offering zero trading fees to get investors comfortable with its platform.
Featured image: Twitter