Hodler’s Digest, Dec. 3-Dec.9: US SEC Delays BTC ETF Decision Again, While Nasdaq Confirms 2019 BTC Futures Launch

The United States SEC has delayed their Bitcoin ETF choice but once more, and Venezuela’s Petro is raised 150 % in worth.

Coming each Sunday, the Hodler’s Digest will enable you to trace each single necessary information story that occurred this week. The greatest (and worst) quotes, adoption and regulation highlights, main cash, predictions, and far more — every week on Cointelegraph in a single hyperlink.

Top Stories This Week

Top Stories This Week

US SEC Delays Bitcoin ETF Decisions, Changes Deadline to Late February

The United States Securities and Exchange Commission (SEC) has once more postponed its choice relating to approval for a Bitcoin (BTC) exchange-traded fund (ETF) this week.

According to a doc launched by the SEC, the brand new deadline is Feb. 27, 2019, and they’ll take the extension to additional overview the rule change proposals wanted to record the BTC ETF.

The monetary instrument was proposed by funding agency VanEck and blockchain firm SolidX, with plans to record it on the Chicago Board Options Exchange (CBOE). Legally, because the proposed rule change was first revealed within the Federal Register on July 2, 2018, the utmost interval of consideration falls 240 days later, on Feb. 27, 2019.

Venezuelan President Maduro Raises Petro’s Value by 150 Percent

Nicolas Maduro, the president of Venezuela, has raised the reference worth of the nationwide cryptocurrency, Petro, from 3,6000 to 9,000 sovereign bolivars. Speaking in Caracas this week, Maduro additionally ordered a rise within the month-to-month minimal wage by 150 %, the sixth enhance in 2018 and 25th in complete throughout Maduro’s presidency.

At the identical time, Venezuela additionally devalued Dicom, the official trade charge within the nation, bringing the nationwide fiat down round 40 % from 96.84 sovereign bolivars per greenback on Nov. 30 to 171.67 the next day.

Nasdaq Confirms Bitcoin Futures Launch for First Half of 2019

Nasdaq, the world’s second-largest inventory trade, has confirmed plans to launch Bitcoin futures within the first half of 2019. VanEck Director of Digital Asset Strategies Gabor Gurbacs instructed Cointelegraph that the agency has been discussing futures with Nasdaq, MVIS Indices, and different market individuals for “about 18 months.”

According to Gurbacs, the brand new providing will differ from these trading on the on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) with its transparency and resiliency.

Major Crypto Exchange Binance to Launch ‘Binance Blockchain’ Soon

Binance, the world’s largest crypto trade by trading volumes, will launch its personal blockchain “Binance Chain” within the “coming months,” in accordance with a tweet this week. The upcoming blockchain will permit individuals to create new cryptocurrencies and Initial Coin Offering (initial coin offering) tokens. Binance CEO Changpeng Zhao (CZ) famous that the brand new plans are literally a response to the “outdated imaginative and prescient” of crypto, which can then result in growing adoption on a worldwide scale.

Crypto Exchange ErisX Raises $27.5 Mln in Funding from Fidelity, Nasdaq, Others

Crypto trade ErisX has raised $27.5 million from inventory trade Nasdaq and Fidelity, which administers over $7.2 trillion in shopper belongings, amongst different purchasers. According to media studies, ErisX will provide each spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), in addition to futures markets within the following 12 months, pending regulatory approval.

Previous studies had famous that ErisX might embody Bitcoin Cash (BCH) assist, however this week’s information didn’t embody the altcoin. According to ErisX CEO Thomas Chippas, the funding’s goal is to rent workers and “construct out our infrastructure and safe the suitable steps are taken to develop a regulated marketplace for digital belongings.”

Most Memorable Quotations

Most Memorable Quotations

Hester Peirce

“Definitely potential may very well be 20 years from now, or it may very well be tomorrow. Don’t maintain your breath. The SEC took a very long time to [establish] Finhub. It would possibly take even longer to approve an exchange-traded product,” — Hester Peirce, commissioner of the United States Securities and Exchange Commission (SEC), talking about Bitcoin ETF approval

Justin Sun

“#TRON will construct a fund to rescue #ETH and #EOS builders from the collapse of their platform so long as these builders migrate their dapps to #TRON,” — Justin Sun, TRON CEO

Laws and Taxes

Laws And Taxes

US: Two New Bills Focusing on Crypto Market Manipulation, Regulations Introduced

Two new payments within the United States had been compiled this month that target crypto market manipulation, with the intention to “place the United States to be a frontrunner within the cryptocurrency business.” The “The Virtual Currency Consumer Protection Act of 2018” and “The U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018” will go earlier than the House of Representatives, and had been a bipartisan effort from congressmen Darren Soto and Ted Budd.

Swiss Finance Minister Prefers Current Laws, Rejects Creation of Blockchain Legislation

Ueli Maurer, the Swiss Minister of Finance, has rejected a potential blockchain regulation in a speech at blockchain convention this week. Switzerland plans to work with current legal guidelines in an effort to regulate and legislate the brand new expertise and its monetary purposes, versus introducing a selected blockchain or crypto authorized framework, in accordance with Maurer. The authorities expects to suggest modifications to 6 legal guidelines, together with the civil code and chapter regulation, in 2019.

New York Financial Services Department Approves Blockchain Digital Payment Platform

The Department of Financial Services of New York (NYDFS) has approved a blockchain-based digital platform provided by New York-based Signature financial institution. The monetary providers division will permit the financial institution to provide its digital cost platform Signet within the state, which makes use of blockchain tech to permit financial institution purchasers to “switch ‘Signets’ to make funds with no transaction charges, at any time of the day, year-round.” The division famous that Signet has been topic to a “complete and rigorous overview” and must adjust to “important regulatory situations.”

US Congressman Plans to Introduce Federal Cryptocurrency and initial coin offering Regulation

Republican U.S. Representative Warren Davidson introduced plans this week to introduce laws on a federal stage to control each cryptocurrencies and Initial Coin Offerings (initial coin offering). The new invoice would create an “asset class” for each crypto and digital belongings, which “would forestall them from being labeled as securities, however would additionally permit the federal authorities to control preliminary coin choices extra successfully.”

G20 Leaders Call for Global Cryptocurrency Taxation and Regulation Systems

After their assembly this week, the G20 international locations have known as for the taxation of cryptocurrency, in addition to its regulation to fight cash laundering. According to a Japanese information outlet Jiji.com, the ultimate textual content of a G20 doc asks for a “taxation system for cross-border digital cost providers.” The doc then continues that underneath the present legal guidelines, international firms with out a base in Japan can’t be taxed by the native authorities, noting the necessity for this taxation system.



Mastercard Files Patent for Anonymization Method for Blockchain Transactions

Mastercard has filed a patent for a system that anonymizes transactions on a blockchain. According to the submitting, the “using a number of middleman addresses to obscure the supply and vacation spot of funds in a blockchain transaction” can be utilized in an effort to “enhance anonymity of entities related to blockchain addresses.” The system outlined by Mastercard would encompass a sequence of “anonymization request[s]” designed to anonymize the transactions themselves, moderately than simply the person behind any particular person wallet.

Switzerland’s ‘Crypto Valley’ Ranked the ‘Fastest-Growing’ European Tech Hub

Zug, Switzerland, which is also referred to as “Crypto Valley,” has been ranked the fastest-growing tech group in Europe. According to the “State of European Tech” report from London-headquartered international expertise funding agency Atomico, Zug tops the record in a comparability of year-on-year development of attendees to tech-related “meetup” occasions per European metropolis. The report notes that Zug has a 117 % enhance as in contrast with 2017.

More Than One Third of German Big Businesses See Blockchain as Important as Internet

A current survey has proven that over one third of huge companies in Germany think about blockchain expertise to be as revolutionary because the web. The survey, carried out by the German Federal Association for Information Technology, Telecommunications and New Media (Bitkom), discovered that 15 % of German firms assume blockchain will “change society and the economic system as a lot because the Internet.” Larger firms, with 500 or extra workers, had been greater than twice as prone to maintain that opinion, at 36 %.

Abu Dhabi Int’l Financial Free Zone Completes Phase of Blockchain-Based KYC Project

The Abu Dhabi Global Market’s (ADGM) regulatory physique, the Financial Services Regulatory Authority (FSRA), together with Big Four audit agency KPMG, launched a overview of the blockchain-based Know Your Customer (KYC) utility venture this week, calling it a “profitable” first part. An worldwide monetary free zone within the capital of the United Arab Emirates (UAE) labored on the venture for 4 months, together with a consortium of main UAE-based monetary establishments. The overview notes using cryptography and digital signatures can assist a safer and handy system for upholding KYC business requirements.

US Air Force Graduate Schools Develops Blockchain-Based Supply Chain Tool

The graduate faculty for the U.S. Air Force has developed an academic instrument based mostly on blockchain expertise for managing provide chains. The instrument is a stay software and a set of instructional movies launched by the U.S. Air Force Institute of Technology (AFIT). According to their report, “blockchain will revolutionize […] the digital infrastructure for future provide chains,” which might translate into “higher visibility” for the navy’s “extraordinarily complicated logistics community.” The Institute labored with non-public provide chain safety agency SecureMarking and the University of South Dakota Beacom School of Business.

Mergers, Acquisitions, and Partnerships

Mergers, Acquisitions, and Partnerships

Seven Southern EU Member States Sign Declaration to Promote Blockchain Use

Seven southern European Union members states — Malta, France, Italy, Cyprus, Portugal, Spain, and Greece  — have launched a declaration calling for the promotion of distributed ledger expertise’s (DLT) use within the area. The doc notes blockchain tech’s use in defending residents’ privateness and making bureaucratic programs extra environment friendly, in addition to its potential to be used within the “schooling, transport, mobility, delivery, Land Registry, customs, firm registry, and healthcare” industries.

Hardware Wallet Ledgers Partners with German Startup to Create Security Token Framework

Crypto {hardware} wallet agency Ledger and crypto startup Neufund have introduced a partnership to let customers supervisor safety tokens by way of Ledger’s desktop software. The collaboration goals to develop an total framework for safety tokens. In addition, Ledger Live, which is a not too long ago launched desktop app for crypto asset administration, plans on “quickly” including an ERC-20 integration, which can let customers handle safety tokens issued through Neufund’s set of protocols.

US Trading-Comms Firm Partners With Blockchain Consortium R3

American trading-communications agency IPC system and enterprise blockchain software program consortium R3 have partnered this week. IPC is thought for producing trading turrets, i.e., communications programs utilized by monetary merchants on their trading desks. With the partnership, IPC will assist R3’s Corda blockchain networks on its Connexus Cloud platform — a monetary markets cloud-based platform for information, voice, and enterprise communications and compliance.

Four Blockchain Companies Jointly Launch ‘Blockchain for Europe’ Association

Four main blockchain firms — Ripple, the NEM Foundation, Emurgo, and Fetch.AI — have shaped a “Blockchain for Europe” Association. The group’s intention to advertise understanding and proactive regulation of blockchain and different distributed ledger (DLT) applied sciences throughout Europe, addressing the EU’s “fragmented” coverage debate round blockchain. The group will use schooling concerning the expertise within the member states in an effort to advocate for future “sensible” regulation, conducive to innovation, that can assist the continent “form the worldwide agenda” on blockchain.

Funding Rounds

Funding Rounds

Overstock.Com’s Blockchain Venture Arm Purchases Equity in Blockchain Agri Project

Medici ventures, Overstock.com Inc.’s blockchain enterprise arm, has bought $25 million in fairness in agricultural blockchain venture GrainChain. The venture has developed a blockchain-powered system for the monitoring of provide chain events within the distribution means of harvests, permitting producers, patrons, and sellers to create smart contracts in an effort to safe funds all through the grain transaction course of. The platform is aimed toward small- and medium-scale farmers, which might then take away the middlemen and conduct enterprise exterior of their instant geographic space.

Seven New Funds in Ohio Plan $300 Million Investment for Blockchain Startups

Seven Ohio-based funds and different funding groups will contribute $300 million in investments into blockchain startups by way of 2021, as introduced this week by executives. Speaking at a blockchain convention, the CEO of nonprofit JumpStart Ray Leach introduced that the seven funds with investing $100 million in “early-stage startups that target utilizing blockchain expertise for enterprise or authorities.” As properly, “extra funding groups” will add $200 million for blockchain outfits working inside Ohio’s social welfare tasks, dubbed “Opportunity Zones.”

Sequoia Capital, Huobi Participate in $35 Mln Funding for Scalable ‘Blockchain’ Network

A brand new blockchain-type community led by a Turing Award recipient and numerous different teachers have obtained $35 million in funding from traders together with Sequoia Capital, IMO Ventures, FreesFund, Rong 360, Shunwei Capital, F2Pool, and main crypto trade Huobi. The community, dubbed “Conflux,” goals to sort out blockchain scalability, proclaiming that its new testnet is able to processing ”no less than 6,500 Transactions Per Second (TPS), whereas supporting no less than 20,000 nodes.”

Winners and Losers

Winners And Losers


The market is holding regular after every week of declines, with Bitcoin trading at round $3,489, Ripple at $.30, and Ethereum at $91.99. Total market cap is at about $110 billion.

The high three altcoin gainers of the week are TittieCoin, Bastonet, and TRONCLASSIC. The high three altcoin losers of the week are FREE Coin, Etheera and RabbitCoin.

For extra information on crypto costs motion, ensure to learn Cointelegraph’s market evaluation.

FUD of the Week

FUD Of The Week

Former Israeli PM Calls Crypto a ‘Ponzi Scheme,’ But Thinks Blockchain Is Important

Former Israeli Prime Minister Ehud Barak in contrast digital currencies to Ponzi schemes however famous the significance of blockchain expertise. Barak, who participated within the Camp David Accords in 2000, now serves because the chairman of medical marijuana producer InterCure. When requested concerning the comparability of the alleged marijuana funding “bubble” to crypto, Barak underlined that “he would by no means make investments” in cryptocurrencies as “Bitcoin and cryptocurrencies [are] a Ponzi scheme.” However, Barak added that blockchain expertise and smart contracts are necessary and helpful technological and mathematical ideas.

US Securities Regulator Issues Cease and Desist to Delaware-Based Digital Asset Fund

The U.S. Securities and Exchange Commission (SEC) has issued a stop and desist towards CoinAlpha Advisors LLC along with ordering a $50,000 penalty to be paid. The firm had allegedly raised over $600,000 from 22 traders in no less than 5 states, buying restricted partnership curiosity within the fund in trade for a proportional share of any earnings derived from the fund’s funding in digital belongings. However, even these CoinAlpha filed an exemption discover with the SEC in November 2017, the corporate was not registered with the SEC, that means that they violated securities legal guidelines.

Chilean Supreme Court Rules Against Crypto Exchange Over Bank Account Closure

The Chilean Supreme Court has dominated towards crypto trade Orionx in a case over the best for state-owned financial institution Banco del Estado to shut the trade’s account. The excessive courtroom revoked the July choice that protected Orionx and ordered the financial institution to reopen the account, with the courtroom choice noting that the character of cryptocurrencies prevents banks from receiving detailed data on transactions, prospects, and corporations that work together with the belongings. The courtroom has dominated that the financial institution didn’t violate any side of the Chilean structure.

South Korean Financial Authority Warns 2 Banks Over Poor Crypto Transaction System

A monetary authority in South Korea has warned main home banks Kookmin Bank and Nonghyup Bank over their lack of administration of cryptocurrency transactions and Anti-Money Laundering (AML) regulation. The nation’s Financial Supervisory Service (FSS) has discovered that the banks had “unreasonable components associated to digital [currency] dealing with enterprise.” The banks have additionally been given orders for enchancment and should submit the measures to the FSS inside three months or face extra “direct sanctions.”


Prediction Of The Week

Quoine CEO: Bitcoin Will Surpass Last Year’s All-Time Highs by End of 2019

Mike Kayamori, the CEO of Japanese fintech agency and crypto trade operator Quoine, mentioned in an interview this week that he believes Bitcoin (BTC) will “surpass” its all-time value highs by the top of 2019. He additionally famous that the backside is close to for the highest coin, citing the strain on Bitcoin miners as an correct signal of its coming. Kayamori added that the higher practices throughout the business, Japan’s crypto ecosystem, particularly, is experiencing a interval of “consolidation.”

Best Cointelegraph Features

Best Cointelegraph Features

G-20 Summit Results: Crypto Is Important for Global Economy, Needs to Be Regulated and Taxed

After the G20 summit that happened final week, the worldwide group realized that G20 leaders imagine the cryptocurrency is value mentioning in reference to the sustainable improvement of the worldwide economic system. In this evaluation, Cointelegraph seems to be at how the G20 member states see their position in each crypto regulation and taxation.

EOS Community Is Challenged After Node Announces Financial Rewards for Votes

After numerous earlier centralization scandals surrounding altcoin EOS, a brand new concern has surfaced, with one in all their Block Producers (BP) allegedly providing cash in trade for voting them as a proxy in a thinly veiled “gamification.” Cointelegraph delves into the BP, Starteos, and the way its provide of crypto for votes was obtained within the EOS group.

Original supply: https://cointelegraph.com/news/hodlers-digest-dec-3-dec9-us-sec-delays-btc-etf-decision-again-while-nasdaq-confirms-2019-btc-futures-launch

The post Hodler’s Digest, Dec. 3-Dec.9: US SEC Delays BTC ETF Decision Again, While Nasdaq Confirms 2019 BTC Futures Launch appeared first on Bitcoin Upload.

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