September 20

“The IMF said banks could lose their role as intermediaries, as the public would switch to stablecoin providers.

The blog further states that new monopolies represented by tech giants could evolve. As such, tech companies could use their networks to sidestep rivals and monetize data.

In countries subject to inflationary changes, stablecoins in foreign currency could replace local currencies, the blog noted, which could subsequently undermine monetary policy and financial development.”

“Derivatives marketplace CME Group has announced that it will offer options on its bitcoin futures contracts starting in the first quarter of next year.

Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk. These new products are designed to help institutions and professional traders to manage spot market bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment.”

“Firstly, the spot market has become more efficient, with the average deviation of Bitcoin prices across the top 10 exchanges falling. Although this was just below 1% back in December 2017, it has now dropped further to under 0.1%.

In addition, many new institutional-grade Bitcoin custody services are springing up. Meanwhile, this year has seen record Bitcoin futures volumes on the Chicago Mercantile Exchange, suggesting that the regulated futures market is now of significant size.

Bitwise hopes that this will allay the SEC’s concerns over its Bitcoin ETF application, and finally give it a green light next month.”

“The U.S. House Financial Services Committee plans to question the Securities and Exchange Commission (SEC) about cryptocurrencies and Facebook’s Libra project next week. The committee will hold a one-panel hearing with SEC Chairman Jay Clayton, as well as Commissioners Robert Jackson, Elad Roisman, Allison Lee and “Crypto Mom” Hester Pierce on Sept. 24.

The hearing will cover the SEC’s actions around the cryptocurrency space, as well as private markets vs. public markets; public company disclosures; enforcement; and fiduciary responsibilities.

Thursday’s notice also hints at possible securities implications for Libra’s companion token, which would be distributed to members of the association.”

See Also: Facebook Set on 2020 Launch for Libra, Despite Regulators’ Pushback

“Transaction support for monero (XMR), dash (DASH), zcash(ZEC), bittube (TUBE), and PIVX (PIVX) will end Monday, Sept. 30.

Upbit announced its investigation of the 6 coins at the beginning of September. The exchange was determining if the privacy coins met the requirements listed by the FATF guidance issued last June.”

“Ripple has filed a controversial motion to dismiss a lawsuit accusing it of selling unregistered securities. Now, fresh suspicions are swirling after the lawyers’ motion to dismiss failed to address the securities aspect of XRP at all. 

They make twelve separate arguments for dismissal of the plaintiff’s claims. Not a single one squarely addresses whether XRP is an unregistered security.”

“Waves is transitioning to a self-regulating monetary system, allowing the community to determine the block generation reward size and coin supply.

The reward for block generation is to be agreed by network participants via a voting process that concludes every 100,000 blocks, or around 70 days. Block rewards can be increased or decreased by 0.5 WAVES each period or left unchanged.

The new model will purportedly benefit miners as it will enable them to express their preference in monetary policy and increase their revenues by up to 5% annually.”

“Telecommunications conglomerate Verizon is eyeing the use of blockchain technology to underpin the dynamic creation of virtual SIM cards. The patent describes how a physical SIM card can be replaced by a software equivalent – a virtual SIM (vSIM) – that is secured with blockchain-based encryption.

In one implementation, users can accept new vSIM certificates into a user account, transfer a vSIM among client devices associated with the user account, or deliver a vSIM certificate to another user.”

“Nebula has rolled out anonymous genetic testing, enabling clients to purchase whole genome sequencing and provide saliva samples without the need to share personal data such as their name, address or credit card number.

Enabling individuals to remain anonymous would eliminate the dependence on data de-identification by personal genomics companies prior to data sharing with researchers.”

“Fees for takers is down to five basis points from eight bps on the Seed Digital Commodities Market, while makers, who previously traded on the exchange for free, receive one bp rebate.

Crypto exchanges charge five to 20 to 25 times, potentially, as what you would charge in equity trading. We have seen a bunch of exchange startups and then a number of additional over-the-counter desks providing liquidity. These new entrances to the market over the past one and a half years has made execution more competitive.”