CLASSIFICATION QUESTION: The Commodity Futures Trading Commission is evaluating whether ethereum will still be classed as a commodity as it migrates to a proof-of-stake consensus system, Chairman Heath Tarbert said. The SEC is also reviewing the question, said Tarbert at the CoinDesk's Invest: NYC event this week. Full story
BITLICENSE KILLER? There’s now a way cryptocurrency businesses can get around New York’s notorious BitLicense, and it runs through Wyoming, say members of the team that drafted the 13 crypto-friendly laws enacted by the state this year. One of those laws allows Wyoming to charter Special Purpose Depository Institutions, a new type of fully reserved fiat bank to custody digital assets that the team thinks could allow crypto startups to operate in New York without local approval. Full story
SIM-SWAP BUSTS: The FBI arrested two Massachusetts residents Thursday on charges of attempting to steal cryptocurrency and hijack social media accounts in a “SIM swapping” scheme.The pair allegedly targeted crypto company executives and those “who had high value or ‘OG’ (slang for ‘Original Gangster’) social media account names.” Full story
ONECOIN PLEA: The Department of Justice has reached a plea deal with Konstantin Ignatov, brother of OneCoin co-founder Dr Ruja Ignatov, for his involvement with the alleged cryptocurrency fraud based out of Bulgaria. Ignatov pleaded guilty to multiple counts including money laundering, but still faces up 90 years in prison, according to the BBC. Full story
FRACTIONAL INVESTMENT: Custody bank Northern Trust is testing the trading of fractionalized bonds on a blockchain. Working with Singapore-based debt markets company BondEvalue, the bank is providing asset servicing for large, high-grade bonds that will be tokenized and divided to give easier access to retail investors using Hyperledger Sawtooth. Full story |
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