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Digital Currency and Blockchain Weekly Round-Up – October 11th, 2019

'Ether is a commodity', says CFTC chairman Heath Tarbert Commodity Futures Trading Commission (CFTC)’s chairman Heath Tarbert said he views Ethereum’s ether as a commodity, similar to bitcoin. “We’ve been very clear o…

By Shampa Mani
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'Ether is a commodity', says CFTC chairman Heath Tarbert

Commodity Futures Trading Commission (CFTC)’s chairman Heath Tarbert said he views Ethereum’s ether as a commodity, similar to bitcoin. “We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now. It is my view as chairman of the CFTC that ether is a commodity,” Tarbert said.

U.S. IRS issues new cryptocurrency tax guidelines for airdrops, hard forks

The U.S. Internal Revenue Services has released new guidance in the form of a Revenue Ruling for tax reporting on cryptocurrency airdrops and hard forks. The Revenue Ruling 2019-24 intends to help taxpayers understand reporting obligations for specific transactions that involve cryptocurrencies.

U.S. SEC disapproves Bitwise’s bitcoin ETF proposal citing market manipulation concerns

The United States Securities and Exchange Commission (SEC) has rejected the bitcoin exchange-traded fund (ETF) proposal filed by Bitwise Asset Management. The SEC disapproved the proposed rule change saying that it failed to meet the regulatory requirements to prevent fraudulent and market manipulation activities.

Bank of England lays ground rules for launch of Facebook’s crypto ‘Libra’ in the UK

The Bank of England has called for “highest standards of resilience” and “appropriate supervisory oversight” for Facebook’s Libra cryptocurrency project before it launches in the UK. The central bank’s Financial Policy Committee this week published the October Financial Policy and Summary.

Swiss National Bank, SIX and BIS partner to explore use case of digital Franc for trading

The Swiss National Bank (SNB), Switzerland’s central bank, is working with the country’s stock exchange operator SIX Group to determine the possible use of digital currencies in trading. In a release, SIX Digital Exchange (SDX) said it partnered with the SNB to develop a proof of concept to “explore how digital central bank money could be used in the settlement of tokenized assets between market participants.”

Hong Kong's Securities and Futures Commission releases new policy targetting crypto fund managers

The Securities and Futures Commission (SFC) of Hong Kong has officially released regulations for crypto fund managers. The commission formalized a 37-page framework, which is effective immediately, which aimed to regulate funds that allocate over 10% of their portfolio in virtual assets.

Facebook CEO Mark Zuckerberg to testify before Congress on Libra cryptocurrency project on October 23

Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee this month to defend the Libra cryptocurrency. As per an announcement, Zuckerberg will appear at a hearing scheduled on Oct. 23, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” He will be the only witness.

Research Studies

Company News

  • German real estate giant Bauwens buys 15 pct stake in blockchain firm Fundament Group

  • Lightning network development startup ACINQ secures $8M from Idinvest, Bpifrance, Serena

  • NuCypher secures $10.7M funding from Polychain Capital, Bitmain, Arrington XRP Capital

  • Neo banking solution Juno secures $3M to offer interest on USDC stablecoin

  • South Korean blockchain startup ICONLOOP raises $8M in Series A round

  • Telegram finally admits involvement in TON blockchain

  • QuadrigaCX founder's widow to return $9M worth of estate assets to affected users

  • Bitfinex, Tether face $1.4 trillion class-action lawsuit for market manipulation

  • Bitfinex, Tether win appeal against NYAG to stop compiling documents

  • Algorand's investment arm Algo Capital loses up to $2M crypto funds in hot wallet breach

Partnerships/Consortiums

Digital Currency Initiatives

Blockchain Initiatives

  • DTCC delays blockchain post-trade platform launch to avoid Brexit complications

  • Banking giant UBS officially implements we.trade blockchain

  • South Korea's KB Kookmin Bank resorts to blockchain to enhance internal processes

  • Hyundai-backed Hdac to invest $10M for mainnet launch, presents new blockchain development plan at KBW 2019

  • AVA Labs releases Athereum testnet subnetwork, moves entire ethereum blockchain on AVA platform

  • Vanguard teams up with Symbiont to develop blockchain-powered trading platform for $6 trillion currency market

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AfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu

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