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Coming every Sunday, Hodler's Digest will help you keep track of every single important news that happened this week. The best (and worst) quotes, the salient points of adoption and regulation, the main currencies, the forecasts and much more – a week on Cointelegraph in one link.
Top Stories This week
US SEC Delays Decisions of the Bitcoin ETF, changes expiring at the end of February
The US Securities and Exchange Commission (SEC) has postponed its decision on the approval of a Bitcoin (BTC) exchange fund (ETF) this week.
According to a document published by the SEC, the new deadline is February 27, 2019 and will take the extension a further review the proposed changes to the rules necessary to list the ETC BTC.
The financial instrument was proposed by the investment company VanEck and the blockchain company SolidX, with the intention of listing it on the Chicago Board Options Exchange (CBOE). From a legal point of view, given that the proposed change of rules was first published in the Federal Register on 2 July 2018, the maximum consideration period falls 240 days later, on 27 February 2019.
The Venezuelan president Maduro increases the value of Petro by 150%
Nicolas Maduro, the president of Venezuela, raised the reference value of the national cryptocurrency, Petro, from 3.6000 to 9.000 sovereign bolivars. Speaking in Caracas this week, Maduro also ordered an increase in the monthly minimum wage by 150 percent, the sixth increase in 2018 and 25 in total during Maduro's presidency.
At the same time, Venezuela also devalued Dicom, the country's official exchange rate, lowering the domestic fiat by about 40% from 96.84 sovereign bolivars per dollar on November 30 to 171.67 the next day.
Nasdaq confirms the launch of Bitcoin Futures for the first half of 2019
Nasdaq, the second largest stock exchange in the world, has confirmed plans to launch Bitcoin futures in the first half of 2019. VanEck Director of digital asset strategies Gabor Gurbacs told Cointelegraph that the company has discussed futures with Nasdaq, MVIS Indices and other participating markets for "around 18 months".
According to Gurbacs, the new offer will be different from those traded on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) with its transparency and resilience.
Crypto Exchange's main exchange to launch & # 39; Binance Blockchain & # 39; soon
Binance, the largest encrypted exchange in the world with trading volumes, will launch its "Binance Chain" blockchain in the "coming months", according to a tweet this week. The imminent blockchain will allow people to create new cryptocurrencies and tokens Initial Coin Offering (ICO). Binance CEO Changpeng Zhao (CZ) noted that the new plans are actually a response to the "old vision" of cryptography, which will therefore lead to growing adoption on a global scale.
Crypto Exchange ErisX raises $ 27.5 million funds from Fidelity, Nasdaq, Others
Cryptographic exchange ErisX has raised 27.5 million dollars from the Nasdaq and Fidelity stock exchange, which manages over 7.2 trillion dollars in customer assets, among other customers. According to the media, ErisX will do it offer both spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), as well as the futures markets in the following year, pending regulatory approval.
Previous reports had noted that ErisX could include Bitcoin Cash (BCH) support, but this week's news did not include altcoin. According to ErisX CEO Thomas Chippas, the purpose of the investment is to hire staff and "build our infrastructure and ensure that appropriate measures are taken to develop a regulated market for digital assets".
The most memorable quotes
"Surely it could be in 20 years, or it could be tomorrow." "Do not hold your breath." The SEC took a long time [establish] Finhub. It could take even longer to approve a product traded on the stock exchange "- Hester Peirce, Commissioner of the Securities and Exchange Commission (SEC) of the United States, who speaks of the approval of Bitcoin's ETF
"#TRON will build a fund to save #ETH and #EOS developers from the collapse of their platform as long as these developers migrate their dapps to #TRON," – Justin Sun, CEO of TRON
Laws and taxes
United States: two new invoices focusing on the manipulation of the cryptographic market, introduced regulations
This month, two new bills were drawn up in the United States focusing on the manipulation of cryptocurrency, with the goal of "positioning the United States as a leader in the cryptocurrency sector". "The Virtual Currency Consumer Protection Act of 2018" and "The US law on the virtual currency market and the regulation of competition in 2018" will go before the House of Representatives and they were a bipartisan effort by members of the Congress Darren Soto and Ted Budd.
The Swiss finance minister prefers current laws, rejects the creation of blockchain legislation
Ueli Maurer, the Swiss finance minister, rejected a possible blockchain law in a blockchain speech this week. Switzerland plans to work with existing laws in order to regulate and legislate the new technology and its financial applications, unlike the introduction of a specific blockchain or an encrypted legal framework, according to Maurer. The government plans to propose amendments to six laws, including the civil code and the bankruptcy law, in 2019.
The New York Financial Services Department approves the Blockchain digital payment platform
The New York Department of Financial Services (NYDFS) has authorized a blockchain-based digital platform offered by the New York Signature bank. The financial services department will allow the bank to offer its digital payment platform Signet in the state, which uses blockchain technology to allow banking customers to "transfer" Signets "to make payments without transaction fees, at any time of day, throughout the year." The department noted that Signet has been the subject of a "complete and rigorous review" and must meet "significant regulatory conditions".
The US Congressman plans to introduce the federal cryptocurrency and ICO regulation
Republican US representative Warren Davidson announced plans this week to introduce legislation at the federal level to regulate both cryptocurrencies and Initial Coin Offerings (ICOs). The new account would be create an "asset class" both for cryptographic and digital assets, which "would prevent them from being classified as securities, but would also allow the federal government to regulate the initial coin offerings more effectively".
The leaders of the G20 demand global taxation and regulation systems for cryptocurrency
After their meeting this week, the G20 countries demanded the taxation of cryptocurrency, as well as its own regulation to combat money laundering. According to a Japanese newspaper Jiji.com, the final text of a G20 document calls for a "system of taxation for cross-border electronic payment services". The document then continues that according to current laws, foreign companies without a base in Japan can not be taxed by the local government, noting the need for this system of taxation.
Adoption
Mastercard File Patent for the anonymization method for Blockchain transactions
Mastercard has filed a patent for a system that anonymously transactions on a blockchain. According to the filing, "the use of one or more intermediary addresses to obscure the source and destination of funds in a blockchain transaction" can be used to "increase the anonymity of entities associated with blockchain addresses". The system outlined by Mastercard would consist of a series of "requests for anonymity[s]"Designed to make the transactions anonymous, rather than just the user behind every single portfolio.
The "Crypto Valley" of Switzerland has defined the fastest growing European technology hub
Zug, in Switzerland, which is also known as the "Crypto Valley", has been ranked as the fastest growing technology community in Europe. According to the "State of European Technology" report by the global technology investment firm based in Atomic London, Zug is at the top of the list in a comparison between the annual growth of the participants and the "meetup" events related to technology by European city. The report notes that Zug has a 117% increase compared to 2017.
More than a third of large German companies see Blockchain as important as the Internet
A recent survey showed that over a third of large German companies consider blockchain technology as such revolutionary as the Internet. The survey, conducted by the German Federal Association for Information Technologies, Telecommunications and New Media (Bitkom), found that 15% of German companies believe that the blockchain "will change society and 39; economy as much as the Internet. " Larger companies, with 500 or more employees, were more than twice as likely to hold this opinion at 36%.
Abu Dhabi Int'l ;, the Financial Free Zone completes the phase of the KYC project based on Blockchain
The Abu Dhabi Global Market Regulatory Body (ADGM), the Financial Services Regulatory Authority (FSRA), together with the KPMG Audit Firm, has published a review of the BlockChain-based Know Your Customer (KYC) utility project this week, calling it a "Success" first phase. An international financial free zone in the capital of the United Arab Emirates (UAE) worked on the project for four months, together with a consortium of major financial institutions based in the United Arab Emirates. The review finds that the use of cryptography and digital signatures can support a more secure and convenient system for support KYC industry standards.
US Naval specialization schools develop a blockchain-based supply chain tool
The school of specialization for the United States Air Force has developed an educational tool based on blockchain technology for supply chain management. The tool is a live app and a series of video tutorials released by the Air Force Institute of Technology (AFIT). According to their report, "blockchain will revolutionize […] the digital infrastructure for future supply chains ", which can translate into" better visibility "for the" extremely complex logistics network "of the army." The institute collaborated with the private security firm of the SecureMarking supply chain and the University of South Dakota Beacom School of Business.
Mergers, acquisitions and partnerships
Seven Southern Member States of the EU sign a declaration to promote the use of Blockchain
Seven Member States of the Southern European Union – Malta, France, Italy, Cyprus, Portugal, Spain and Greece – have issued a declaration calling for the promotion of the use of distributed ledger technology (DLT) in the region. The document takes into consideration the use of blockchain technology protect the privacy of citizens and by making bureaucratic systems more efficient, as well as their potential for use in the areas of "education, transport, mobility, shipping, land registry, customs, business register and health".
Hardware Wallet portfolios work together with German Startup to create the Security Token Framework
Crypto Ledger's hardware portfolio company and cryptographic startup Neufund have announced a partnership to allow users to manage security tokens through Ledger's desktop application. The collaboration aims to develop a general framework for security tokens. In addition, Ledger Live, a newly launched desktop app for cryptographic asset management, plans to "soon" add an ERC-20 integration, which will allow users to manage their tokens. security issued via the Neufund set of protocols.
The US Trading-Comms collaborates with the Blockchain Consortium R3
The American commercial communications company and the IPC system and the R3 enterprise blockchain software consortium worked together this week. The IPC is known for the production of commercial turrets, ie communication systems used by financial traders on their trading facilities. With the partnership, IPC will do it supports R3 Rope blockchain networks on its Connexus Cloud platform: a cloud-based platform of financial markets for communications, voice and business compliance and compliance.
Four Blockchain companies jointly launch the "Blockchain for Europe" association
Four major blockchain companies – Ripple, NEM Foundation, Emurgo and Fetch.AI – established a "Blockchain for Europe" association. The goal of the organization to promote understanding and proactive regulation of blockchain and other distributed ledger technologies (DLT) across Europe, addressing the "fragmented" EU political debate on the blockchain. The organization will use technology education in member states to support a future "smart", innovation-friendly regulation that will help the continent to "shape the global agenda" on the blockchain .
Financing round
Overstock.Com & # 39; s Blockchain Venture Arm acquires Equity in Blockchain Agri Project
The Medicee initiatives, the shareholding of the blockchain of Overstock.com Inc., bought $ 25 million in shares in the GrainChain agricultural blockchain project. The project has developed a blockchain system for the tracing supply chain holidays in the process of distribution of crops, allowing producers, buyers and sellers to create smart contracts to ensure funds during the grain transaction process. The platform is aimed at small and medium-sized farmers, who can then remove intermediaries and conduct activities outside their immediate geographic area.
Seven new funds in Ohio are planning $ 300 million investments for blockchain startups
Seven US-based funds and other investment teams will give $ 300 million in startup blockchain investments until 2021, as announced this week by executives. Speaking at a blockchain conference, JumpStart CEO Ray Leach announced that the seven funds have invested $ 100 million in early startups focused on the use of blockchain technology for businesses or the government. In addition, "additional investment teams" will add $ 200 million to blockchain dresses working in Ohio's social welfare projects, dubbed "Opportunity Zones".
Sequoia Capital, Huobi Participates in $ 35 million in funding for the scalable "Blockchain" network
A new blockchain-type network led by a Turing Award recipient and several other academics has received $ 35 million in funding from investors such as Sequoia Capital, IMO Ventures, FreesFund, Rong 360, Shunwei Capital, F2Pool and the major cryptocurrency Huobi. The network, dubbed "Conflux", aims to face the scalability of blockchain, proclaiming that its new testnet is able to process "at least 6,500 transactions per second (TPS), while supporting at least 20,000 nodes".
Winners and losers
The market remained stable after a week of downturns, with Bitcoin trading at around $ 3,489, Ripple at $ .30 and Ethereum at $ 91.99. The total capitalization is about $ 110 billion.
The three best gainers of the week are TittieCoin, Bastonet and TRONCLASSIC. The three best losers of the week are FREE Coin, Etheera and RabbitCoin.
For more information on the movement of cryptographic prices, be sure to read Cointelegraph's market analysis.
FUD of the week
The former Israeli Prime Minister asks to encrypt a "Ponzi scheme", but thinks that Blockchain is important
Former Israeli Prime Minister Ehud Barak compared digital currencies to Ponzi schemes, but noted the importance of blockchain technology. Barak, who participated in the Camp David Accords in 2000, is now the president of the medical marijuana manufacturer InterCure. When asked about the comparison between the alleged "bubble" of marijuana investment and cryptography, Barak pointed it out "He will never invest" in criptovalute as "Bitcoin and cryptocurrencies [are] a Ponzi scheme. "However, Barak added that blockchain technology and smart contracts are important and useful technological and mathematical concepts.
The US Securities Regulator issues cease and cease at the Digital Assets Fund based on Delaware
The Securities and Exchange Commission (SEC) of the United States has issued a termination and revocation of CoinAlpha Advisors LLC in addition to the ordinance of a fine of $ 50,000 to be paid. The company presumably had collected over $ 600,000 from 22 investors in at least five states, acquiring limited partnership interests in the fund in exchange for a proportionate share of the profits from the fund's investment in digital assets. However, even if CoinAlpha filed an exemption notice with the SEC in November 2017, the company was not registered with the SEC, which means that they violated the securities laws.
Chilean Supreme Court Regulation against the Crypto Exchange on the closure of the bank account
The Chilean Supreme Court ruled against the Orionx encrypted exchange in a case on the right of the state bank Banco del Estado to close the exchange account. The high court revoked the July decision who protected Orionx and ordered the bank to reopen the bill, with the court ruling to note that the nature of cryptocurrencies prevents banks from receiving detailed information on transactions, customers and companies that interact with resources. The court ruled that the bank did not violate any aspect of the Chilean constitution.
The South Korean financial authority warns 2 banks about a poor encryption system
A South Korean financial authority has warned key domestic banks Kookmin Bank and Nonghyup Bank for their lack of management of cryptocurrency transactions and anti-money laundering regulation (AML). The Financial Supervisory Service (FSS) of the country found that the banks had "unreasonable elements related to the virtual [currency] business management. "Even the banks have been given the orders for improvement and must submit the measures to the FSS within three months or face more "direct penalties".
Prediction of the week
Quoine CEO: Bitcoin will exceed last year's historical highs by the end of 2019
Mike Kayamori, CEO of the Japanese fintech company and Quoine encryption operator, said in an interview this week that he believes Bitcoin (BTC) will "exceed" its all-time highs by the end of 2019. He also noted that the the bottom is close to the coin at the top, citing the pressure on the Bitcoin miners as a precise sign of his coming. Kayamori added that best practices across the industry, particularly the Japanese cryptosystem, are undergoing a period of "consolidation".
The best features of Cointelegraph
Results of the G-20 summit: cryptography is important for the global economy, it must be regulated and taxed
After the G20 summit last week, the global community has learned that G20 leaders believe that cryptocurrency is worth referring to in relation to the sustainable development of the global economy. In this analysis, Cointelegraph looks at how the G20 member states see their role in both encryption and taxation.
The EOS community is challenged after the node announces financial awards for votes
After several previous centralization scandals involving EOS, a new problem emerged, with one of their Block Producers (BP) offering money in exchange for voting them as a proxy in a subtly veiled "gamification". Cointelegraph digs into BP, Starteos and how its rating encryption offer was received in the EOS community.
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