Home / Bitcoin / US SEC solve Bitcoin ETFs, while Bakkt's BTC Futures Inch is closer to approval

US SEC solve Bitcoin ETFs, while Bakkt's BTC Futures Inch is closer to approval

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 a single link.

Top Stories This week

The US Sec publishes the memorandum from the meeting on the proposal of Bitcoin's ETF

The US Securities and Exchange Commission published a memorandum from a meeting on the proposal of ETF (Bitcoin exchange-traded-fund) by VanEck and SolidX which included European Commissioner Elad L. Roisman and her councils Dean Conway, Matthew Estabrook and Christina Thomas, together with representatives of SolidX, VanEck and the Chicago Board Options Exchange (CBOE). The memorandum outlines the parties 'arguments on the regulators' decision to disapprove the previous SolidX ETF application, in particular the failure to comply with the Securities Exchange Act section on the prevention of fraud and manipulation.

Crypto Exchange Coinbase and Circle launch USD Stablecoin

Exchange and cryptocurrency portfolio Coinbase has now launched the stablecoin of the USD currency (USDC), developed in collaboration with Coinbase and the financial company Crypto Circle. Coinbase users in the supported jurisdictions can now trade in USDC on Coinbase.com, as well as the iOS and Android apps. According to Coinbase, USDC will soon be supported on Coinbase Pro. According to reports, the currency is 100% guaranteed with US dollars.

The governors of New York endorse the offer of Crypto Custody of Coinbase

The Department of Financial Services of the State of New York has authorized the wholly owned subsidiary of Coinbase Coinbase Custody Trust Company LLC add a range of virtual currency custody services, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple and Litecoin. Coinbase launched its custody services in July, with the goal of bringing institutional clients and storing large amounts of digital money.

The parent company of NYSE announces the launch date of BTC futures on the Bakkt platform

The Intercontinental Exchange, the parent company of the New York Stock Exchange, announced the launch date for the future Bitcoin on December 12, 2018 on its Bakkt platform this week. According to the exit, ICE will list the daily futures contracts Bakkt Bitcoin (USD) for trading starting in Decemberand the product will be physically resolved and liquidated by ICE Clear U.S., Inc. Also this week, an anonymous source told a store that ICE's Bakkt cryptographic platform could get approval as soon as the first week of November.

Indian Crypto exchange held for ATM Bitcoin not registered

Harish BV, Unocoin's co-founder of the Indian cryptocurrency exchange, was held in custody this week shortly after installing a supposedly unregistered Bitcoin ATM in Bangalore. Reportedly, Harish BV installed the ATM kiosk in a mall together with the co-founder of Unocoin Sathvik Viswanath. According to local Indian media reports, Harish BV was detained because ATM did not receive permission from the stateand he was dealing with crypts outside the regulations.

The most memorable quotes

Young dirty bastard

"I can not wait to offer even more music to make Dad proud," – Young Dirty Bastard, speaking of the upcoming release of O.D.B. of the property of Ol & # 39; Dirty Bastard. Currency

Sathvik Viswanath

"The minister's statement was clear: cryptocurrencies are not legal tender in India, they did not say" illegal tender. "There is a huge difference, which means that you bear the risk of your investment and there are rules for industry "- Sathvik Viswanath, co-founder of Unocoin for Indian crypto exchange

Laws and taxes

Spanish cryptor investors may have to report Crypto's shareholdings for taxes in a mandatory manner

Last week, Spain approved a new bill that could require cryptocurrency investors to report their cryptographic holdings for tax purposes. Finance Minister María Jesús Montero said the new measures it would apply to all Spanish citizens, even if they currently live abroad. The draft law in particular would require both the identification and balances of each investor's virtual currencies. If the last draft is approved as a law, virtual currency holdings should be included in the "notorious" tax reporting structure known as 720.

By June 2019, the regulation on the initial supply of Taiwanese coins will be issued

The current president of the Taiwanese financial regulator, speaking at a meeting of the legislative committee Yuan Finance, said that the country plans to release the ICO regulation by June 2019. According to the president, "the more we regulators, the more this new economic behavior decreases. "Despite the president's statement on the ICO regulation, Taiwan does so we have no plans to "curb the creativity and productivity associated with cryptocurrencies" provided they do not constitute titles.

The judges of New York are launching a lawsuit against nano developers

A lawsuit filed by a crypt investor against the Nano altcoin development team was rejected by a New York judge this week. According to court documents, the lawsuit claimed that developers had lured him to trade in Nano on a platform that had lost hundreds of millions of dollars worth of cryptocurrency. The cause he had asked Nano to make a "rescue fork" to return the missing investors' money. However, in the dismissal, the judge observes that the case was without merit.

The Coinbase case on BCH's insider trading was rejected

A US District Judge dismissed the case for alleged abuse of insider information against the encrypted portfolio and exchanged Coinbase during its launch of Bitcoin Cash support last year. The lawsuit claimed that Coinbase employees benefited from insider trading in the process of adding support for altcoin. However, the judge noted that the the plaintiff did not have a sufficient legal basis for her allegations in the complaintand rejected class action without prejudice.

The advisory board of US tax agencies calls for additional guidelines for encrypted transactions

A US advisory committee has asked the agency to provide additional guidelines for the taxation of encrypted transactions, according to a general report of 2018. In 2014, IRS had issued a specific comment on digital currencies, with the recommendation that they be treated as property. However, the Advisory Committee raised several issues related to tax encryption, including if cryptography can be considered as "specific foreign financial activity."

Adoption

Visa Plan 1st launch of the Blockchain-based digital identity system

Visa plans to release its blockchain-based digital identity system for cross-border payments in the first quarter of 2019. The system, called Visa B2B Connect, supports a blockchain-based solution for financial institutions to securely process cross-border payments within tokenize sensitive corporate data and create a unique cryptographic identifier for transactions. The solution will use a Hyperledger Fabric framework, along with Visa's "core assets".

The report finds that the demand for Blockchain engineers has reached 400% since 2017

The Hired Status Report in 2018 found that the demand for a blockchain role has increased by 400% since the end of 2017. According to the report, the average earnings of a blockchain engineer rose to $ 150-175,000 at the # 39; year. This salary puts blockchain engineers in the same category as artificial intelligence specialists, since it increases the need for engineers capable of blockchain. CNBC notes the the demand is further fueled by the interest of global technology giants such as Facebook, Amazon, IBM and Microsoft, all of which are currently advertising for emerging industry specialists.

Sony creates the contactless hardware portfolio Cryptocurrency

Sony's Japanese technology division announced this week that it has created a contactless cryptocurrency hardware portfolio that uses IC smart card technology to communicate with Bitcoin or other cryptocurrency networks. According to the developers, the advantages of the portfolio are in give up the need to connect the wallet to a device with a USB, the current industry standard.

Oracle announces blockchain-based software suite for supply chain management

Oracle Corp., a software development company, has announced the release of a suite of block-based software-as-a-service applications based on its Oracle Blockchain Cloud Service. The new Oracle product is designed to increase traceability and transparency through supply chains. The new product, called Oracle Blockchain Applications Cloud, includes four apps: Intelligent Track and Trace, Lot Lineage and Provenance, Intelligent Cold Chain, and Warranty and Usage Tracking.

Binance's Fiat-Crypto exchange goes live in Uganda

Binance, the world's largest cryptic exchange, has officially launched its fiat-to-crypt exchange in Uganda this week. Binance Uganda launched its live trading, allowing users to purchase Binance and Ethereum with local currency for Uganda shillings. The announcement this week also noted that Binance Uganda is the "first step" towards the expansion of cryptocurrency markets for a "more inclusive ecosystem that will involve the fiat currencies."

Mergers, acquisitions and partnerships

The biggest newspaper in China to launch Blockchain Lab with Tech Firm

The official newspaper of the Chinese Communist Capital party has entered into an agreement with the Shenzhen Xunlei Limited technology company. According to the agreement, People & # 39; s Daily Online and the technology company will create a laboratory for "technological innovation" at People's Blockchain Research Institute. In addition to blockchain search, the partners will do it create a "high level industrial services platform" for the organization of seminars, as well as promoting and identifying startups in the blockchain sector.

The largest port in Europe collaborates with Dutch Bank, Samsung for Blockchain shipping tests

The port of Rotterdam, Europe's largest port, announced a partnership this week with the Dutch bank ABN AMRO and Samsung's IT subsidiary to test the use of blockchains for shipping. The process, according to Samsung SDS, will do it focus on shipping containers from an unnamed factory in Asia at the port of Rotterdam. The experiment will officially begin in January and the results will be announced in February.

Johnny Depp works with the cryptographic based social entertainment platform

US actor and producer Johnny Depp has partnered with TataTu, a cryptographic based social entertainment platform, to create and produce digital content and movies together. The content will be produced by the film Infinitum Nihil production company owned by Depp, which will collaborate with the founder of TaTaTu Andrea Iervolino. TaTaTu, launched in May this year, aims to combat illegal piracy and improve transparency for rights holders, as well as to promote high quality brand advertising using distributed ledger technology (DLP).

VeChain, Republic of Cyprus signs the MoU for the development of the Blockchain

The blockchain platform based in Singapore VeChain Foundation, the US startup blockchain CREAM and the national investment partner of the Republic of Cyprus have signed a MoU for the development of blockchain and its use cases. According to their agreement, the parties will collaborate on investment strategies at national level, use blockchain-based economies and promote blockchain technology, particularly in the field of financial services.

Financing round

The publicly owned holding company invests in the expansion of Binance Singapore

Vertex Ventures, a subsidiary of Singapore-based government-owned investment company Temasek Holdings, has announced an investment in cryptocurrency Binance to support its Singapore expansion. The investment is a joint effort between Vertex Ventures China and Vertex Ventures Southeast Asia and India, and it will support Binance plans to create cryptographic services throughout South Asia. Wei Zhou, CFO of Binance, said in the statement that the exchange "looks[s] forward to build the blockchain ecosystem and work with all stakeholders in Singapore to support continuous innovation in the local fintech space. "

Doctors Ventures of Overstock announces investments in decentralized social networks

Medici Ventures, a venture capital subsidiary of Overstock, has invested a Series A investment not disclosed in Minds, Inc., a decentralized social network. Minds, founded in 2011, is a social network platform that rewards users with cryptography for their online activities. According to the press release, Minds has adopted the Manila Electronic Frontier Foundation (EFF) principles such as the platform's digital rights charter in order to "guarantee freedom of speech" to its users.

Winners and losers

Graphic

Bitcoin remains stable this week, trading around $ 6.473, with Ethereum at around $ 204. The total market capitalization is currently around $ 208 billion.

The first three altcoin gainers of the week are PrimeStone, HappyCoin and Paypex. The three best losers of the week are CJs, EPLUS Coin and Etheera.

For more information on cryptography prices, be sure to read Cointelegraph's market analysis.

FUD of the week

$ 50 million of Australian ICOs go off, cites regulatory requirements

The start of the Australian cryptography Global Tech Exchange (GTE) ceased operations of its ICO – which had a fundraising goal of $ 50 million – citing the requirements of the Australian Securities and Investments Commission (ASIC). The company had gained popularity after being approved by Michael Clark – a former Australian cricket captain and national celebrity. At the time of the press, the reasons behind the closure of the ICO have not yet been publicly commented.

The head of the Indian nonprofit commercial organization calls the "illegal" cryptocurrency

The president of the India National Association of Software and Services Companies (NASSCOM) said this week that the cryptocurrency is "illegal" and has asked companies to obey the law. Speaking with a local newspaper, the president said that the illegality of the crypt is the result of the obvious inability of the government to keep up with innovation. While the cryptocurrency is currently legal in India, the Reserve Bank of India has banned the country's banks from providing services to the encrypted companies in July.

Thai SEC issues Warnings on investment in Nine Token and ICO not registered

The Thai Securities and Exchange Commission issued a warning on investments in nine digital tokens and Ico, which were reportedly not registered. According to the Thai SEC, the governor has initiated a survey of digital tokens and ICO investments promoted on social media platformsand he found nine in which the product was not authorized. Thai SEC notes that because digital assets and ICOs do not have official SEC approval, investors should be aware of the risks associated with investing.

Coinbase Lets Fifteen staff members Go, Report Sources

The largest exchange rate and cryptocurrency portfolio in the US Coinbase has left "at least" fifteen staff members after 250 hires this year, according to anonymous sources that speak of Yahoo Finance. The cryptic company has confirmed the layoffs, noting it their recruitment practices in the future would only allow employees to be hired in the Coinbase offices. A source told Yahoo that "people here are pretty upset about it, and so far the senior leadership is mismanaging communications."

Hong Kong-based Crypto Exchange OKEx removes more than 50 trading pairs

OKEx cryptocurrency exchange will eliminate more than 50 trading pairs – not the coins themselves – that have weaker performances. According to the announcement of the exchange, the exchange will interrupt the trade of over 50 couples at 6:00 am on October 31 2018 CET, alerting users that they must cancel their orders from couples interested in the platform. Andy Cheung, Head of Operations at OKEx, said that "as a leader, we are responsible for promoting a robust ecosystem […] We have to intervene on those poorly performing tokens now. "

Best Features

Icelandic farmers have a smart plan to solve the Crypto energy crisis

Wired talks to math teacher Krista Hannesdóttir about his innovative mining encryption strategy in Iceland: he pays farmers for the use of their excess geothermal energy for mining equipment management. While the mining encryption program is relatively small – she earns around 7,876 pounds (about 10,107 $) on Ethereum every month – they have to keep the low level in case the question of its legality could threaten the subsidies that farmers receive for the & # 39; use of geothermal energy.

Does anyone want Bitcoin futures? Anyone?

Bloomberg Business analyzes the role of Bitcoin futures in the market, from the initial advertising campaign of the autumn and winter of last year, to the current realities of CBOE and CME that negotiate about 9,000 contracts a day. In comparison, CME traded over 18 million contracts every day in the second quarter for oil, gold and interest rates. However, even with the low daily trading rate, BTC futures are "probably considered statistically one of the most successful products, both out of the market and growing in the first six months".

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