October 11

The SEC announced late Friday that it filed for and received an emergency action and restraining order halting Telegram from selling or otherwise distributing its gram tokens within the U.S. The complaint alleges that Telegram did not register its offer or sale.

The SEC Division of Enforcement said in a statement that the emergency action is ‘intended to prevent Telegram from flooding the U.S. markets with digital tokens that we allege were unlawfully sold.’

Telegram seeks to obtain the benefits of a public offering without complying with the long-established disclosure responsibilities designed to protect the investing public.”

“The Financial Times reported Friday that eBay and Stripe dropped out of the Libra cryptocurrency project, citing political pressure.

We believe there are potential benefits in such initiatives and will continue to monitor the Libra effort. …We will follow its progress closely and remain open to working with the Libra Association at a later stage.

The Libra Association is scheduled to have its first official meeting next week, where the remaining 23 members – which include both Facebook and its subsidiary Calibra – are supposed to sign the group’s charter.”

“The sheet, prefaced by a warning that it’s only a draft and not an actual document for filing taxes, asks at the top:

At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

“Paul Brody explained that Nightfall is the first step in a greater process to get businesses creating agreements, settling invoices and making payments with each other using the public Ethereum blockchain.

The end game is enabling all the functionality of the Ethereum blockchain for enterprise users, with full privacy.

It’s an ambitious roadmap but one, he said, that could drive, ‘immense transformation to the world’s companies.’

We’re doing more than 10,000 transactions per day for Microsoft. We have seven major video games suppliers live and we’re expanding the footprint of that service.”

“In addition to ConsenSys Founder Joe Lubin launching the drive to build the Ethereum developer community into the millions, ConsenSys Grants announced its latest induction of projects into its program. A number of leading ConsenSys projects like MythX, Alethio, and Infura announced rollouts of freemium models to address ecosystem pain points ranging from smart contract security to data analysis to infrastructure.

Elsewhere, the Enterprise Ethereum Alliance, a member-led industry organization represented by hundreds of companies around the world, released two new specifications to progress interoperability for the largest organizations in the world utilizing the Ethereum network.”

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“Unstoppable Domains – a firm backed by Draper Associates – said Friday that the new .crypto extension can be connected to users’ public cryptocurrency address, allowing third-parties to more easily send funds.

Sending money to a .crypto domain is a way simpler user experience.

The firm’s blockchain domains can also be used to provide “uncensorable” websites. Linking the domain to content on a decentralized storage network results in pages that “no one” can take down.”

“Australia’s only bullion mint is backing a new digital token aimed to allow investors to trade the precious metal in real time.

The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint. The digital certificates are 100% gold backed and guaranteed by the Government of Western Australia, which is the sole owner of the 120-year-old mint.

PMGT is digitized gold that allows users to conveniently acquire and have entitlement over government guaranteed physical gold stored at The Perth Mint in a trusted and cost-effective way.”

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“Coinbase Custody now allows Maker (MKR) holders to participate in the project’s governance without withdrawing their funds.

MKR holders will also soon review and vote on the terms of the DSR and the risk parameters for the two first tokens being evaluated by the interim risk team — BAT and ETH.”

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“The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday.

The statement “reminds” actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens. 

The agencies referred to the Bank Secrecy Act (BSA), which outlines how different financial services businesses should register with regulators.”

“The creator of an “open” alternative to Facebook’s Libra stablecoin initially misrepresented which organizations are involved in the project. Outside of Aggarwal, representatives from Chainlink, Web3 Foundation and Hashed have told CoinDesk their names were used without their permission on the OpenLibra slide deck presented at Devcon.

I wasn’t asked before my name was used on the slides. We’re not opposed to OpenLibra. We’re just not a part of it.

Geiger has not confirmed which of the 30 listed individuals and organizations announced on Wednesday were “potential partners” and which were actual confirmed partners of the OpenLibra project.”

“Nobody in the cryptocurrency space is thinking big enough.

Why are we not thinking about how to create dark finance tools we can leverage against government bonds? We can crash national economies.

It’s clearly not just a cultural change. It can also be a profound institutional change to our political order.’ But to do this, the industry needs to embrace its political side, according to Siri, and think more globally.

There needs to be a change on a big scale for cryptocurrency to realize its big potential. … We have to train not just hackers, but leaders.”

“China Construction Bank, one of the largest Chinese commercial banks, has expanded its trade finance blockchain platform with new abilities, including cross-chain and inter-bank transactions, as trading volume surpasses $53 billion.

The move is in line with China’s economic plan to promote trade amid the One Belt One Road Initiative and help grow the real economy in the country.

All four major state-owned commercial banks in China – CCB, Industrial and Commercial Bank of China, Bank of China, and Agricultural Bank of China –  have launched blockchain-based financial services initiatives in the past two years.”

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