Bitfinex has now added another coin to its ever growing list of coins that can be traded on their exchange. This time it is Metaverse ETP. The ETPUSD, ETPBTC and ETPETH currency pairs are available.
As you can see in the screenshot below, trading in the last 24 hours have been brisk with a volume of just over 3 million dollars.
The Chinese ICO ban and the gradual closure of the crypto-exchanges located in China is certainly benefiting exchanges is located in Hong Kong. Metaverse was listed on a number of Chinese exchanges but since they are closing due to government orders, Bitfinex has taken them on.
Although Hong Kong is part of China, Hong Kong has its own regulatory requirement and is governed under “One Country, Two System” and does not abide by Chinese laws and regulations except for those impinging on national security. Hong Kong has its own mini constitution called the Basis Law which came about when Hong Kong was handed back to China in 1997 by the British.
Bitfinex are gradually phasing out services to US citizens, will they do the same to Chinese citizen too? My take on this is “no”. Since I consider the closing of the crypto-exchanges and the ban on ICOs to be just a temporary measure, implementing the a ban on Chinese citizen from trading on Bitfinex would be short-sighted.
I would not be surprised to see more Chinese cryptos move from the exchanges in China onto Bitfinex. Metaverse will be the first of many!
I’m just letting off Steem, if you found this post informative then UPVOTE (with FULL POWER), COMMENT, FOLLOW and especially RESTEEM.
I wrote this article myself and it expresses my own opinions. Computer literacy is crucial in this day and age. Just because someone tells you it is good does not mean that it is good for you.
