Public Riot Blockchain has applied to the Commission on securities and exchange Commission (SEC) of the United States to launch a regulated cryptocurrency exchange RiotX to the end of the second quarter of 2019.
According to the company, the operator of the exchange will be specially created subsidiary RiotX Holdings Inc. Banking services for the crypto currency exchange will be handled by the software application interface (API), developed by SynapseFi.
It is planned that the API will also provide security, tracking the location of users and preventing fraud. For example, to use the services of the exchange will not be possible in States where it is prohibited, specifically, Wyoming and Hawaii.
Users RiotX will have the opportunity to create accounts that are associated with accredited banking institutions of the United States, as well as transfer and store cryptocurrency and Fiat assets. The exchange will also work with supplier ON Shift Markets.
Plans start adjustable Blockchain crypto currency exchange Riot stated in March last year after the acquisition of Logical Brokerage Corp — futures broker from Miami, was in the Commission on trade commodity futures (CFTC), and member of the industry trade group the National futures Association (NFA).
Riot Blockchain, the former biotechnology company Bioptix, gained fame as one of the companies that changed at the end of 2017 name so that it included the word blockchain. On the wave of the cryptocurrency boom, the value of the shares of such firms grew by hundreds of percent. Such a practice was forced to draw the attention of the SEC, a subpoena from the regulator received and Riot Blockchain. However, unlike many other company actually entered in the cryptocurrency business, opened a mining center, bought a stake in a canadian crypto currency exchange Coinsquare.