Exchange Reviews

New crypto exchanges are still popping up as FATF steps up efforts to regulate the crypto industry

Over their short existence, cryptocurrencies have found it difficult to shake the status of being considered as a refuge for tech-savvy criminals. Their popularity and growth has forced exchanges, especially those that handle billions of dollars in crypto assets to go out of their way to play nice with regulators. But, the image has persisted since some platforms have chosen to evade regulators moving to less strict areas.

However, it seems the end may be around the corner. The Financial Action Task Force, which is an intergovernmental organization responsible for setting standards when it comes to money laundering and terrorist financing has handed down a new set of global anti-money-laundering rules that target crypto exchanges.

The rules call on crypto exchanges to share personal information about their users among each other, something that could prove controversial. 

According to many crypto enthusiasts, privacy is what drew them to cryptocurrencies, and if these rules are successfully enforced, then it could evaporate.On the other hand, by complying with these rules, exchanges stand to attract mainstream financial institutions and users.

Interestingly, the strict regulations on the way haven’t stopped new exciting crypto exchanges from popping up. Below are three worthy mentions.

3 new exciting exchanges that have popped up over the past year

DigiFinex 

It’s a relatively new crypto exchange that is registered in Seychelles but has its headquarters in Singapore. Despite launching last year, the exchange boasts impressive liquidity and its usually among the top 25 exchanges by daily traded volume.

The exchange has a taker fee and maker fee of 0.20% and a withdraw fee of 0.0003BTC. It supports a vast array of crypto coins including the likes of BTC, ETH and many other top 20 coins. Also, funding can be done through crypto and credit card.

Bitfoliex

Bitfoliex is another relatively new crypto exchange. The platform is based in Europe, and it offers users several services, including a multi-signature wallet that is secured through 2FA authentication.

It also offers an integrated platform that allows users to exchange cryptocurrencies easily. Within its short existence, the platform has managed to garner over 866,000 users and its growing at a steady pace. Coins supported on the platform include; Bitcoin, Bitcoin Cash, Ethereum, Stellar Lumens, Traxalt and many more.

Coineal

Another new exchange that launched last year, which is based in South Korea. It supports around 99 coins, including many of the most popular cryptos. Also, it has excellent liquidity with trade volumes of over 1 billion over the past 24 hours.

The platform charges a 0.15% taker and maker fee and a withdraw fee of 0.00049 BTC. One disadvantage of the platform is that users can fund their accounts through crypto only.

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coinmag

Daniel is an experienced writer with a keen eye on emerging technologies. He aims at educating the crypto community on the developments within the space.

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