February 11

Chainalysis is, right now, doing millions of dollars worth of business each year with the U.S. government, dwarfing its competitors in the young industry of blockchain surveillance. Federal agencies have spent at least $10 million in American tax dollars on Chainalysis’ tools, services and training since 2015.

The company is by far Uncle Sam’s leading crypto analysis contractor by spending and has become the go-to firm for 10 federal agencies, departments and bureaus.

“[Peirce] has clearly really thought through the opportunities and challenges of people building these systems in America. … Ultimately she doesn’t want to see innovation leave America’s shores.

We are going to see some sense of comeback of higher quality teams into the market willing to create financial assets knowing that there’s a path for them to do so safely. This will probably take at least a year to play out before we start to see the comeback of the token.”

“BitGo, a United States-based firm that claims to process over 20% of all Bitcoin (BTC) transactions, has established new custodial subsidiaries in Switzerland and Germany.

As the two new entities are regulated by different financial authorities, BitGo intends to allow its clients to choose the jurisdiction that is best suited to their business.

Switzerland and Germany have both become important European centers for digital assets as well as for forward-thinking regulatory frameworks.

“Enterprise blockchain is a catalyst for further spending at Big Blue, according to Jerry Cuomo, IBM’s vice president of blockchain technologies. The blockchain part of a blockchain application only accounts for about 20 percent of the overall solution, said Cuomo. That leaves 80 percent in other tech for bringing the network to life. 

For every dollar spent, $15 is spent on other cloud services.”

“Italy’s securities regulator has shut down six foreign exchange websites and two crypto investing and derivative trading sites. 

The Commissione Nazionale per le Società e la Borsa (CONSOB) has accused these 8 FX sites of violating the Mifid2 and the Consolidated Law on Finance (TUF) for providing illegal trading products and services.

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Ethereum Classic will only function as collateral on the Fantom platform. The stablecoins will live on Xar Network’s blockchain-agnostic stablecoin protocol, named Collateralized Stable Currency Tokens (CSCT).

Fantom primarily targets enterprise and governmental use cases.”

See Also: Litecoin Foundation Partners With Cred to Let Holders Earn Interest