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Crypto Info Wire: Regulations October 2018

machnbirdsparoPosted for Everyone to comment on, 5 years ago4 min read
I believe the crypto world needs a fast, reliable means to obtain current events. Neither the blockchain industry, nor the cryptocurrency markets are at a point where the news is as overwhelming as in traditional markets. Still, every minute freed up is another moment that helps us grow the industry. The future is coming very quickly. Crypto is at the forefront, as you will see below. One day, the world will wake up with a strong desire for news currency that can be acted upon. We need to be prepared.
Skip straight to the wire if you are in a rush.
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About this Info Wire

An info wire provides active participants in an industry with a place to overview what is going on right now. Like a bird hovering high above at the ready to dive a great way for its prey, current events need a solid foundation from which to begin. My experience with information, intelligence, and current events provides a unique perspective that can be trusted to deliver two things simultaneous: speed and untainted sources. Websites provided here have control over their own content and can make the occasional corrections, but their stakes lie in being responsible. In any event, you have the links and text in the exact order of which it was published, merely condensed for brevity.

Today’s Overview

Regulatory bodies dominated recent news about cryptocurrencies and blockchains. The U.S. saw the most regulatory activity, but China, Japan, India, and the U.K. all had significant events take place. One area of particular interest are exchanges. They tend to make news, and then quietly slip out of the spotlight. Maybe the biggest news will be when all cryptocurrency transactions can be settled on blockchain, rather than being held on the exchanges. Private enterprises have driven this industry from day one. Credit card companies will make a big splash one way or the other someday. Today is not the day, but there is a headline or two worth seeing.

Let me know how I can improve this info wire and if you believe it to be of value.


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Mach Wire: Business Intelligence for the Blockchain Market (Litmus Test 3)

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Exchanges

[10.26_2018] ...2019 ...Wall Street and crypto ...Fidelity ...Intercontinental is set to release its Bakkt futures ... Goldman Sachs has invested $16 million in BitGo. https://bitcoinist.com/fidelity-digital-assets-bitcoin/
[10.15_2018] Circle is buying up exchanges and startups ... SeedInvest ...Poloniex ... dollar-backed stable coin. https://www.cnbc.com/2018/10/12/circles-head-scratching-deals-take-shape-as-cryptocurrency-bet.html

Private Enterprise

[10.26_2018] Cryptocurrency web wallet provider Blockchain...with hardware wallet producer Ledger...Unveiled ...Blockchain Lockbox, ...“first-of-its-kind hardware and software” solution. https://www.ccn.com/blockchain-ledger-release-first-of-its-kind-cryptocurrency-hardware-wallet/
[10.26_2018] ...CEO of Visa Al Kelly...open to support digital currencies... We want to be in the middle...of every payment flow in the world regardless ... https://ethereumworldnews.com/ceo-of-visa-open-to-embrace-cryptocurrency-if-the-market-moves-that-direction/
[10.25_2018] ...tech-savvy Kenyan restaurant that has incorporated cryptocurrencies for facilitating payment. https://www.ccn.com/kenyans-pay-local-restaurant-bitcoin-for-meals-and-classes-on-cryptocurrency/

Regulation: U.S.

[10.26_2018]] The Information Reporting Program Advisory Committee ......public report ...directs the IRS ... to be clearer on ..cryptocurrencies....IRS ...Notice 2014-21...virtual currency ...as property...further guidance on the tax consequences... https://www.ccn.com/irs-advised-to-provide-better-guidance-on-cryptocurrency-transactions/
[10.26_2018] The Center for Public Integrity found 20 crypto-candidates...who have been requesting or have received cryptocurrency to fund their efforts. https://www.publicintegrity.org/2018/10/26/22356/how-cryptocurrency-sneaking-state-elections
[10.22_2018] Congressional Blockchain Congress...has two Democrats and two Republicans as its co-chairs. https://www.forbes.com/sites/rogerhuang/2018/10/22/there-is-bipartisan-agreement-that-cryptocurrency-is-good-for-politics/#6f0aa3153533
[October_2018] U.S. Securities and Exchange Commission… temporarily suspended trading in the securities of American Retail Group Inc. (ARGB) “for making false cryptocurrency-related claims about SEC regulation and registration.” https://news.bitcoin.com/sec-suspends-trading-cryptocurrency-claims/
[10.01_2018] Federal Reserve Bank of Boston vice president Jim Cunha...biggest obstacle ... uncertainty about the security of the organizations building blockchain ... https://www.forbes.com/sites/michaeldelcastillo/2018/10/01/federal-reserve-vp-describes-the-limits-cryptocurrency-partnerships/#1cbdbac35877

Regulation: World

[10.26_2018] ... in China ...ruling, passed by the Shenzhen Court of International Arbitration confirms that Bitcoin is protected by law....contractual obligation between the two parties...no law... explicitly prohibits... holding Bitcoin... has the nature of a property... https://dailyhodl.com/2018/10/26/chinese-court-takes-step-toward-recognizing-bitcoin-and-cryptocurrency-as-legal-property/
[10.26_2018] ...“illegal” status of crypto is the result of the government’s failure to keep up with innovation...Cryptocurrency is currently legal in India, but in July the Reserve Bank of India (RBI) banned the country’s banks from servicing businesses involved in ... digital assets. https://cointelegraph.com/news/cryptocurrency-illegal-in-india-says-trade-organization-head
[10.26_2018] The UK’s Royal Mint has canceled the launch of its gold-backed cryptocurrency after its failed partnership with Chicago-based CME Group ...digital record of gold ...change in the financial market company’s management is responsible for the company’s change... https://ethereumworldnews.com/uk-government-shuts-down-proposed-gold-collateralized-cryptocurrency/
[10.24_2018] The Japanese Financial Services Agency (FSA) ...approved the self-regulation of ...cryptocurrency industry...Japan Virtual Currency Exchange Association (JVCEA) can exercise oversight...experts ...better suited to make the rules than bureaucrats. https://ethereumworldnews.com/breaking-news-cryptocurrency-self-regulation-approved-by-japans-fsa/

Let Me Know What You Think!

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