Blockchain Daily News – Edition 44, 01.09.2017
September 1, 2017
Blockchain Daily News – Edition 46, 05.09.2017
September 5, 2017

Blockchain Daily News – Edition 45, 04.09.2017

Blockchain Daily News

by Florin Oprea

Edition 45, 04.09.2017

Deals, Investments & M&As

China Outlaws ICOs: Financial Regulators Order Halt on Token Trading

Tian Chuan & Rachel-Rose O’Leary – CoinDesk

China’s Central Bank Declares Initial Coin Offerings Illegal

Lulu Yilun Chen, Justina Lee – Bloomberg

China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales.

FAO: Is this the reason for today’s drop in crypto assets prices?

Platforms Suspend ICO Trading Amid Risk Concerns

Xie Jun – Global Times

Uncertainty has increased in China’s virtual currency trading in recent days, with some platforms suspending or raising the threshold for trading certain types of virtual coins.

FAO: A normal reaction considering the new “market conditions”…

$26 Million: Ethereum Microfinance Startup Everex Closes ICO

Stan Higgins – CoinDesk

Ethereum-focused startup Everex has raised $26 million in an ICO to develop microfinance and remittance services.The month-long sale raised a total of 1,580 BTC (worth approximately $7.54 million at current prices) and 49,477 ETH (worth roughly $18.9 million) raised.

FAO: Ahem…probably much less by now, considering today’s prices…

Hedge Funds Are Rushing Into Cryptocurrencies To Juice Their Weak Returns

Joon Ian Wong – Quartz

Hedge funds have been trounced by the stock market in recent years. Now they are eyeing a new asset class that might provide the big returns their clients pay them to produce: bitcoin and cryptocurrencies.

Vendors

RBI Arm To Launch Model Platform For Blockchain Technology Soon

The Hindu Business Line

The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India, is developing a model platform for blockchain technology.

BitPeople

Fintech Regulator Goes Rogue To Help Blockchain Innovators Think Like Lawyers

Leigh Cuen – Internațional Business Times

If you’re thinking about a fintech business or cryptocurrency for American markets, Jeffrey Bandman is the blockchain oracle of your wildest dreams. Until recently, he was the fintech adviser to the U.S. CFTC. He created the nation’s pioneering innovation regulatory team, called LabCFTC. Then in June, Bandman left politics and returned to New York City, his hometown, to set up the consultancy firm Bandman Advisors.

FAO: Interesting profile.

Regulation

IRS To Go After Bitcoin and Bitcoin Cash Profits, What to Expect

Lisa Froelings – The Cointelegraph

Recent developments lead many to Bitcoin mining and investing in Bitcoin as many tend to believe that it is a great start for investment. Regulators and tax specialists are now looking into cryptocurrencies and how they should be treated when it comes to income taxation.

FAO: Better consider this line: “Virtual currency is treated as property for US federal tax purposes”…

Malta’s Government: “Our Next Step is Blockchain”

Red Herring

DNT: An Interesting interview about the future of tech scene in Malta.

Startups, Accelerators & Hubs

Hong Kong Must Join China To Lead The Bitcoin Revolution, Or Be Left In The Dust

Jesse Friedlander – South China Morning Post

For Hong Kong, the advent of decentralised, virtual currencies is both a threat and an opportunity. While it has made some moves to encourage fintech, Hong Kong has thus far limited government policy on cryptocurrencies to warning about their risks.

FAO: HK is a strong competitor for Singapore and Sydney on the region’s fintech scene…which of them has the credit to become a blockchain leader?

NY Fintech Accelerator Launches Program For Blockchain Startups

Finextra

The New York-based Starta Accelerator has announced the launch of an accelerator program, called “Token Rockets”, for startups working with blockchain technology.The training will culminate in a new crowdsale of cryptographic tokens for each of the startups.

Analysis

Bitcoin Drops Below $5,000 As Crypto Markets See $13 Billion Sell-Off

Pete Rizzo – CoinDesk

It’s the biggest sell-off since mid-July.

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News