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Paxtradings Crypto Minute: May 27, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: May 27, 2018

Covesting Opens Public Beta Testing Of Its Platform

Covesting, a decentralized platform designed “to bring copy-‎trading and professional asset ‎management to the cryptocurrency world,” has begun public beta testing.‎ According to Financial Magnates, Covesting concluded its ICO in December 2017. Since then, the company developed its Crypto Intelligence Portal and recruited Kurt Carlsson and Peter Kristenson from Saxo Bank to join the company.

Financial Conduct Authority Investigating 24 Cryptocurrency Firms

The U.K.’s financial regulator, the Financial Conduct Authority (FCA), has launched investigations into 24 cryptocurrency firms. According to the Telegraph, the FCA is reviewing the activities of the “unauthorized” businesses after a freedom of information request was filed. The FCA has not disclosed which businesses are under investigation.

Chinese Tax Regulator Partners With Tencent to Improve Tax Management and Combat Tax Fraud

The Shenzhen Municipal Office of the State Administration of Taxation announced a partnership with Tencent. According to CoinTelegraph, the partnership aims to establish an “Intelligent Tax” Innovation Laboratory that will develop blockchain solutions to modernized tax management and combat tax fraud. Those solutions will also utilize cloud computing, artificial intelligence, and big data.

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