Headlines for the world of Cryptocurrencies - March 21, 2019
SEC Steps Up Activities Against Illegal Virtual Currency Exchanges And Initial Coin Offerings
According to news reports the United States Securities and Exchange Commission has recently stepped up enforcement action against virtual currency exchanges and Initial Coin Offering (ICOs) that violate federal securities laws.
Due to the highly technical nature of blockchain technology and its use cases on digital currencies many unsuspecting investors fall prey to fraudulent and highly risky blockchain-related projects.
The number of incidents of fraudulent crypto related investment scheme has prompted the SEC to jump into action to put the industry on notice that It will be monitoring it very closely.
Since November 2018 SEC has issued at least four virtual cryptocurrency-related enforcement actions.
While these recent actions might put chills on legitimate cryptocurrency exchanges and projects since there is no clean-cut regulation existing on blockchain and crypto, these should also come as great news to the investing public for the additional layer of security SEC are putting in to place.
Some North Koreans Use Crypto To Topple Repressive Government
It has been reported that a group of North Korean political dissidents plans to raise funds in the hope to topple the totalitarian regime of Kim Jong-un.
There method to raise the funds will be the use of cryptocurrencies.
The group is called the Cheollima Civil Defense (CCD) and plans to sell 200,000 G-VISA’s to fund their activities.
According to CCD each token will be represented by a non-fungible ERC-721 token and will sell for 1 ETH for each token.
The initial price is for the first 1,000 G-VISAs, there is no mention of how much will each cost after the first round of token sales.
Eech of the G-VISA will come with a unique ID number based in the order in which it was purchased and will be completely anonymous.
Tokens will be on sale beginning March 24 and will expire on March 2029.
Only time will tell if this type of token sale will be supported by the cryptocurrency investors worldwide, one thing is for sure this type of investment is high risk and prospective investors should only invest what they are willing to all lose.
Cardano Release Major Updates
According to online news outlets Cardano has recently release a new version of its mainnet, Cardano 1.5, which is the last major mileston of the Byron development phase.
The new mainnet release introduced a new consensus protocol and an upgraded wallet.
The new consensus protocol is called the Ouroboros BFT which marks a move from the Ourobos Classic to Ouroboros Genesis.
Ouroboros is described as the first proof-of-stake protocol that matches the security of proof-of-work protocols such as that being used by Bitcoin.
Aside from the aforementioned upgrade ADA, the native token of Cardano, will have a new version of its official wallet Daedalus 0.13.0.
Network upgrades are generally seen as a positive development in any cryptocurrency project thus the market reacted positively in the said event giving the native digital asset of Cardano, ADA, a 7% boost on trading prices.
Facebook Seeking Legal Counsel For its Blockchain Initiatives
According to the description of the new job offering the position will be responsible to draft and negotiate contracts on blockchain related projects.
These include partnerships and commercial aspects of the projects, programs and products.
In addition to these the Counsel will be advising clients on the legal risks, business strategies and other business aspects of Facebook’s blockchain projects.
Moreover the candidate should have a J.D. degree and membership in at least one U.S. State bar.
In addition to what have been mentioned above the job seeker must have 5 years of legal experience, 4 years of technology transaction experience in blockchain or payments technology and related legal issues.
Mayor Of Chicago States Cryto Adoption Is Inevitable
The mayor of Chicago, Rahm Emanuel has recently stated that he sees the adoption of crypto is inevitable.
He shared his sentiment on a Forbes report and justified his logic by citing the growing appeal of Bitcoin and other digital assets in an increasingly unstable geopolitical world.
Although admitting that he is not well verse in the crypto industry he has a positive view of cryptocurrencies due to its nature of being censorship resistant and no being reliant to any sovereign state or group.
He states that cryptocurrencies has enabled the general population a means to an opt-out option of a national economy.
While the comments of the Mayor is very positive news for the cryptocurrency community there is not clear evidence that his preference will make any difference in the current situation of cryptos in his city.
Nevertheless it is nice to know that many people of power are beginning to see the merits of the nascent industry and perhaps they will serve as proponents for the adoption of cryptocurrencies f the masses.
Headlines for the world of Cryptocurrencies - March 20, 2019Swiss Legislative Body Approves Acceptance Of Existing Legislation For Cryptocurrencies / Huobi Launches A New Way To trade Cryptocurrencies / Kakao Set To Release Its Own Cryptocurrency Wallet / Largest Swiss Online Retailer Starts Accepting Cryptocurrencies / Square Wants To Hire Crypto Engineers Paid In Bitcoins |
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Headlines for the world of Cryptocurrencies - March 19, 2019Former CFTC Chairman Calling For Advance Crypto Regulations / First Bitcoin ATM In Dubai Spotted / Binance Lite Partners With Newsagents In Australia To Sell Bitcoin / Japan Recalibrating Its Rules On Crypto Margin Trading / Visa Is Looking For A Crypto Product Manager |
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