by Florin Oprea
WhopperCoin tokens would be used to reward customers for each purchase of a Whopper sandwich.
FAO: Should we expect a McDcoin soon too?!??
China Economic Review
The State Council, China’s cabinet, has released draft rules to oversee fundraising through virtual currencies amid surging investor interest in cryptocurrencies. The draft legislation, which builds on policies released in February 2016, was released last week by the State Council’s Legislative Affairs Office.
FAO: China’s State Council wants its piece of the ICO growing action…
Rachel Rose O’Leary – CoinDesk
According to local news source El Economista, the bank’s governor, Agustín Carstens, said that, since bitcoin is not backed by a government or central bank, the cryptocurrency doesn’t meet existing definitions of a currency.
Rather, bitcoin should instead be considered more as a commodity, he went on, since “there is nothing to ensure its accounting in a financial system.”
FAO: Maybe a trip across the ocean, to Japan, will help the governor understand how others can benefit from accepting Bitcoin as a currency…
Victor Golovtchenko – Finance Magnates
Kraken is removing the number of decimals available in the pricing of each pair. The effort will effectively create new limits to front-running.
Sarah Townsend – Arabian Business
UAE Exchange is eyeing a deal with Ripple to help it introduce real time, cross-border payments using blockchain technology.
FAO: Remember that UAE have invested a lot in blockchain, Dubai is even planning to become the first blockchain government by 2020 (here’s an interesting piece).
Joshua Althauser – The Cointelegraph
An increasing number of Venezuelans are shifting to mining digital currencies like Bitcoin so that they can afford to buy their basic needs and survive due to the current hyperinflation being experienced in Venezuela as of late August 2017. Another reason for the shift is the affordability of mining due to the low cost of electricity in the country.
FAO: People innovate, people speculate…unfortunately the people in Venezuela have suffered a lot but it seems that at least some of them have found a new way to survive…good for them!
Janet Morrissey – The Street
Despite the colossal gains and surge in new-fangled Bitcoin millionaires, few investors seem to be reporting their cryptocurrency windfalls on their U.S. tax returns. And experts warn this could mean huge penalties down the line.
William Suberg – The Cointelegraph
Russia’s deputy finance minister Alexey Moiseev has said it is “hard to argue cryptocurrency is not a pyramid scheme” amid sudden plans to ban sales.
Speaking in an interview on local television channel Rossiya 24, Moiseev said the government wanted only to allow “those who are qualified investors” and who have a “reason” for buying cryptoassets to have the option to do so.
FAO: Hmmm, yesterday we reported about Russia’s First Deputy Prime Minister, Igor Shuvalov, who said he is in favor of a “crypto-ruble”…
Daniel Palmer – CoinDesk
Vigorous trading in South Korea seems to be at least in part responsible for the rise, a trend also seen for bitcoin cash, monero and Ripple’s XRP in recent days.
Clive Martin – CNN
One market that could prove something of a game-changer is the ever-investing art world, where art-for-Bitcoin is being pioneered by London gallery owner Eleesa Dadiani, of the eponymous Dadiani Gallery.
FAO: Here’s another piece focusing on the same innovative art gallery that BBC visited last month…
Stan Higgins – CoinDesk
On August 24, officials for the securities markets regulator announced a trading suspension for American Security Resources Corp. (ARSC), effective until 11:59 am ET on September 8, 2017.
The company – which has changed hands several times, according to existing SEC filings – declared at the start of this month that it would move to launch a cryptocurrency exchange, moving to rebrand as the Bitcoin Crypto Currency Exchange Corporation.
It was those statements and others issued at the time that appear to have sparked questions from the SEC, according to the August 24 order.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News