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06/04/2018: Biggest Stories in the Cryptosphere

1. SEC Chairman Jay Clayton Has Positive Words For ICOs

SEC Chairman Jay Clayton has shared positive words about ICOs during the talk ‘Cryptocurrency and Initial Coin Offerings’, hosted at Princeton University. The agency’s highest-ranking official has affirmed that not all ICOs are fraudulent. The statement comes following many at the event wondering if SEC’s decision to prosecute projects meant it had a negative view of the new fundraising method. Instead, the chairman argued that the actions taken by the SEC will actually help this emerging industry mature. He went on to say that they would rather stop this deceptive behaviour now at the beginning, than wait until it becomes an established industry.

2. Monex Will Purchase All Of Coincheck’s Shares

We reported yesterday that Monex would share more details about its acquisition of crypto exchange Coincheck on Friday. The brokerage firm has now published a press release. According to the document, Monex will acquire all of the shares of Coincheck. A share acquisition agreement has been signed today, while the acquisition will be implemented on April 16th. The acquisition price amounts to 3.6 billion yen (33.5 million USD) and it is based on the exchange’s estimated net assets at the end of the fiscal year (March 2018). Coincheck has also published a press release, where it covered the reasons behind the acquisition, as well as providing an outline of the changes which will take place.

3. Credit Card Giant Shinhan Forms Partnership With OmiseGo

South Korea-based credit card giant Shinhan Card Co has formed a partnership with online payment platform OmiseGo, popular in Southeast Asia. Shinhan hopes to launch blockchain-backed applications such as a digital token reward system. OmiseGo has knowledge of the industry as its open payment platform include various cryptocurrencies and digital currencies from several countries. At the moment, it has released a mobile coupon backed by the blockchain technology. Through this partnership, it hopes to follow the ‘hyper-connected management’ business strategy by expanding blockchain-backed digital banking and payment services.

4. State of Arizona Signs Blockchain Bill Regarding Data

Arizona Governor Doug Ducey has signed a bill allowing corporations to hold and share data on the blockchain. The bill, signed on April 3, is now part of Arizona state law. The bill previously passed the House of Representatives with 56 yeas, 3 nays and 1 abstention. The billed, called HB 2603, is one of a list aimed at helping these emerging technologies to grow. Indeed, the Senate is going to have a third reading of two more bills: HB 2602, which would stop towns from banning cryptocurrency mining in residences, and HB 2601, which covers securities and crowdfunding. It would allow the use of virtual coins as a medium of exchange in digital trading. We previously also reported on the possibility of citizens being able to pay taxes using Bitcoin thanks to bill SB 1091.

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