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Preparing for the Digital Token Revolution Considerations & Guidelines for Policymakers & Practitioners Now Available for EEA and TTI Communities

One of the most striking developments in the blockchain ecosystem is the emergence of token technology platforms, which are offering transformative possibilities for government, business, and consumers. Blockchain technology will improve many aspects of our lives, much of which will be fueled through the distribution and use of digital tokens.

The post Preparing for the Digital Token Revolution Considerations & Guidelines for Policymakers & Practitioners Now Available for EEA and TTI Communities appeared first on Enterprise Ethereum Alliance.

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As part of the EEA’s strategic partnership with the Chamber of Digital Commerce, the Chamber has made its report, “Understanding Digital Tokens,” available to the EEA and TTI communities.

Below, the Chamber’s Founder and President Perianne Boring provides an overview of the report and the overall regulatory and market landscape of the token ecosystem.

Understanding Digital Tokens: An Overview by Perianne Boring

One of the most striking developments in the blockchain ecosystem is the emergence of token technology platforms, which are offering transformative possibilities for government, business, and consumers. Blockchain technology will improve many aspects of our lives, much of which will be fueled through the distribution and use of digital tokens.

Yet, the versatility of tokens has proved to be a challenge for regulators. The sheer number of unique characteristics that tokens may represent means that much work remains to be done to understand their potential and functionality. The way in which digital tokens operate is complex and can maintain multiple characteristics – from an investment contract, to something necessary for utilizing a digital platform, to a form of payment or exchange.

Simply put, a digital token can be a security, a currency, a commodity, property, or a hybrid of these characteristics. Some have even suggested that a token may start as one functionality, such as a security, and then shift and represent another, such as a commodity. When it comes to the regulatory treatment of a token, this versatility can be confusing.  Nevertheless, other countries are already recognizing the potential of this technology and developing regulatory systems to welcome it.

To address these issues, we established the Token Alliance, an initiative of the Chamber of Digital Commerce comprised of more than 400 industry leaders. Under the leadership of former SEC commissioner Paul Atkins and former CFTC Chair Jim Newsome, the Token Alliance has published a series of reports entitled, “Understanding Digital Tokens: Market Overviews & Guidelines for Policymakers & Practitioners,” which includes the following chapters.

  • Considerations and Guidelines for Securities and Non-Securities Tokens – describes securities tokens with corresponding guidelines related to the legal and regulatory frameworks that apply to them. It also details the application of the securities laws, regulations, and rules of the United States for the issuance and trading of tokenized securities. Provides guidelines for non-security token sponsors and token trading platforms for the generation and distribution of digital tokens to enable responsible governance and help to minimize fraud in the industry.
  • Market Overviews and Trends in Token Project Fundraising Events – presents economic and market trends, facts, and figures from 2013 to the present to better understand the scope of the growing token evolution.
  • Considerations and Guidelines for Anti-Money Laundering Compliance and Combatting the Financing of Terrorism – provides an overview of laws in the United States aimed at the prevention of money laundering and combatting the financing of terrorists, as well as the rules and regulations certain categories of businesses must follow to establish formal AML policies and practices. This section includes guidelines for token sponsors and token trading platforms to consider when crafting AML and CFT compliance programs.
  • Considerations and Guidelines for Consumer Protection – evaluates how consumer protection laws may apply to digital tokens, the potential scope of federal and state consumer protection authority, and guidelines to help token sponsors and token trading platforms avoid running afoul of consumer protection laws.
  • Considerations and Guidelines for Advancing Cyber Security – considers the substantial rise in the frequency and impact of cybersecurity breaches across industries and how these events have extended into the token economy. This section discusses cybersecurity considerations for permission-less blockchains, policy and regulatory considerations, and guidelines for advancing cybersecurity in a tokenized economy.
  • Global Legal Landscapes Governing Digital Tokens – an analysis of legal landscapes governing Australia, Canada, Gibraltar, Japan, United Arab Emirates, United Kingdom, and the United States

It is important that regulations impacting tokenized networks and applications take into account their versatility, unique characteristics and benefits. It is equally important that the industry understands the regulatory considerations when building with blockchain technology.   The Chamber of Digital Commerce and Enterprise Ethereum Alliance recently announced a partnership to facilitate collaboration between the technology and policy communities. We hope you find these resources valuable and look forward to working with the EEA community to ensure we have predictable legal frameworks that support innovation and development in the blockchain technology ecosystem.

Join the Chamber at DC Blockchain Summit 2020, March 11-12, where featured panels will dig into token-related topics including “Token Jurisdiction: Deep Dive into SEC and CFTC Oversight” and “The Future of Money.”  View Understanding Digital Tokens and read more about the Token Alliance on the Chamber’s website.

The post Preparing for the Digital Token Revolution Considerations & Guidelines for Policymakers & Practitioners Now Available for EEA and TTI Communities appeared first on Enterprise Ethereum Alliance.

Source: https://entethalliance.org/preparing-for-the-digital-token-revolution-considerations-guidelines-for-policymakers-practitioners-now-available-for-eea-and-tti-communities/

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Hodlnaut Awarded $6,000 in Costs As Court Rejects Craig Wright’s Appeal

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Craig Wright, the self-proclaimed Satoshi Nakamoto, has seen another failure in his ongoing legal battle against the popular cryptocurrency proponent going by the Twitter handle Hodlonaut. The Supreme Court in Norway rejected Wright’s jurisdiction appeal.

CSW Vs. Hodlonaut: The Backstory

Craig Wright has attracted lots of attention to himself, especially after claiming on numerous occasions that he’s the person behind the anonymous pseudonym, Satoshi Nakamoto. However, as he had failed to provide conclusive evidence that he is indeed Bitcoin’s creator, lots of community members have openly refuted his claims.

One of the most vocals doubters from the start has been the Twitter user Hodlonaut. As a result, Wright sued him last year but without much success so far. As CryptoPotato reported in January 2020, the United Kingdom High Court dismissed his defamation case because it didn’t have jurisdiction.

Nevertheless, the case continued in another European country – Norway. Several months later, the Norwegian Court of Appeals denied Wright’s appeal, and he had to pay all costs associated with the legal case.

Hodlonaut later shared an update asserting that two months after the Court’s ruling, Wright hadn’t “paid a cent.” However, Wright had no intention to seize his case.

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Craig wright
Craig Wright. Source: Medium

Another Rejection For CSW

Earlier today, Hodlonaut provided another update on the ongoing case, which again wasn’t in Wright’s favor. Per the tweet, the Supreme Court in Norway rejected Wright’s jurisdiction appeal and awarded Hodlonaut another $6,000 on top of the $60,000 that he is owned from the previous rejection.

Despite the positive news for Hodlonaut, the “real” case will continue in Norway until a final verdict. However, he seemed rather optimistic about his chances and said that “another loss surely awaits him [Wright].”

Another one of Wright’s legal battles also received an adverse outcome for the self-proclaimed BTC creator. A US District Court recently denied “on all grounds” his motion to dismiss the Kleiman vs. Wright lawsuit, where he fights the estate of his deceased former partner over 1.1 million bitcoins.

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Source: https://cryptopotato.com/hodlnaut-awarded-6000-in-costs-as-court-rejects-craig-wrights-appeal/

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BTC Price Analysis: September Monthly Candle Likely Close In Red, How Bad Is It For Bitcoin?

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September has never been a particularly great month for Bitcoin’s price historically, and this year has cemented that fact.

Assuming prices will remain where they are at the close, Bitcoin prices will be down 7.5% from the monthly open. Last year during September, the asset fell 13.5% and the year before that it was down 5.96%.

In spite of this, however, the leading crypto could possibly end the quarter with the second-highest close ever if it can stay above $10,590 – according to data from Skew.

While it’s highly unlikely we’ll see it break the current all-time high from Q4 of 2017 at $13,660 this time around, we are about to enter into one of Bitcoin’s better-performing months which might just give us that new yearly high we’ve all been hoping for.

Bitstamp BTC/USD 4-Hour Chart

bitcoin price
BTC/USD chart via Tradingview

BTC Price Levels to Watch in the Short-term

On the 4-hour BTC/USD chart, we can see that Bitcoin’s price still remains inside the rising channel (orange) and has recently returned to the lower channel support at $10,680 following a sharp rejection at the weekly open resistance ($10,780).

This particular price point is also being reinforced by the 200-EMA, which will make this level even more difficult to break in the short-term.

The median line of the channel (dashed white line) will now likely act as a temporary resistance as bullish traders attempt to recover from the dip.

Looking further down, if selling momentum continues to rise over the next few candles we could see BTC get kicked out of the channel. In that event, the $10,570 level may create a reaction as it has acted as both a support and resistance in the last 9 days. Right under that, we also have the much-larger channel support (yellow) which should halt any further decline (for now).

Over the short-term, we should wait until BTC prints a new higher high above $10,780 and the daily open at $10,839 before assuming the intra-week trend has turned bullish.

Total market capital: $348 billion

Bitcoin market capital: $198 billion

Bitcoin dominance: 57.0%

*Data by Coingecko.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/btc-price-analysis-september-monthly-candle-likely-close-in-red-how-bad-is-it-for-bitcoin/

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Bitcoin Mimics Wall Street and Climbs Above $10,800 as Altcoins Rejoice (Market Watch)

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Despite briefly dipping to $10,660, Bitcoin has slightly increased in value since yesterday and trades above $10,800. At the same time, Ethereum has spiked by about 2% to above $360, while more volatility is evident from lower and mid-cap altcoins.

Bitcoin To Above $10,800

After an unsuccessful attempt to conquer $10,800 yesterday, Bitcoin headed south and bottomed at about $10,660. However, the bulls intercepted the brief price dip and didn’t allow further declines.

Just the opposite, BTC started accelerating again and reached its intraday high of $10,850 (on Binance). Although the asset has decreased slightly, it’s still about 1% up on a 24-hour scale, and it hovers around $10,800.

From a technical standpoint, Bitcoin has to overcome the first resistance at $10,840 before heading towards the psychological level at $11,000. Alternatively, the primary cryptocurrency could rely on $10,680, and $10,570 as support in case of a price breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Bitcoin’s increase seems to be a correlation with the US stock market. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all closed yesterday’s trading session with about 1% gains.

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However, gold demonstrated untypically high volatility. The precious metal spiked from $1,880 to $1,900, dropped back down and repeated the move once again in a matter of hours. On a 24-hour scale, though, gold has decreased by about 0.5%.

Ethereum Rises Above $360, Cardano Back To Top 10

Ethereum has finally increased above $360 after a near 2% jump. Ripple and Bitcoin Cash marked minor gains and are situated approximately at the same levels as yesterday – $0.241 and $228, respectively.

The most impressive performer from the top ten is Cardano. By increasing with 5% to over $0,10, ADA has actually surpassed Crypto.com Coin for the coveted 10th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

Monero is the only top 20 coin that has surged by a double-digit percentage. XMR has jumped by 12% and trades at $110. On a weekly scale, Monero is up by 25%.

Further double-digit price increases come from lower and mid-cap altcoins. DigiByte leads by a 16% surge, Maker (13%), Zcash (11%), Swipe (11%), DFI.Money (11%), Algorand (10.5%), and Zilliqa (10%) follow.

On the other hand, The Midas Touch Gold has lost the most value since yesterday – 15%. THETA (-7%), Hyperion (-6.5%), Energy Web Token (-5.5%), and Uniswap (-4.5%) follow.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-mimics-wall-street-and-climbs-above-10800-as-altcoins-rejoice-market-watch/

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