Daily Crypto Report: SEC Chairman Agrees Ethereum is Not A Security; IBM’s Hyperledger Fabric Enters Crypto Custody.
SEC Chairman Clayton: Agrees Ethereum is No Longer a Security
[Source: blockonomi.com] Jay Clayton, the Chairman of the United States Securities and Exchange Commission has confirmed statements made by SEC analysts in 2018 that not all cryptocurrencies are securities. The head of the regulatory agency also highlighted the need for a more nuanced discussion about what constitutes a security in the eyes of the SEC as far as the emerging cryptocurrency landscape. Clayton also praised the Commission’s transparency in dealing with matters relating to the regulatory status of cryptocurrencies in the United States.
PolisPay Partners With Dash For Payments: Users can spend Dash wherever Mastercard is accepted
[Source: cryptobriefing.com] PolisPay, a blockchain payments service, has just announced the implementation of the Dash cryptocurrency for their MasterCard-backed debit card.
Until now, the Polis app supported payments through Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Digibyte (DGB), and its own token, Polis (POLIS). Now, with the implementation of debit cards, users can deposit cryptocurrencies through its app, and receive a proportionate balance of fiat currency on the PolisPay card.
Once funds are loaded on the debit card, users can spend their balance anywhere MasterCard is accepted. Transactions are paid for in cryptocurrency, but merchants are paid in fiat. This technology allows users not only to trade and store their cryptocurrencies, but also to spend them them for real-world, everyday purchases.
IBM’s Hyperledger Fabric Enters Crypto Custody
[Source: cryptobriefing.com]CULedger, a conglomerate of global credit unions, has just agreed to add IBM‘s Hyperledger Fabric to its growing list of blockchain partnerships. The credit union service organization joins blockchain firms R3, Hedera, and Evernym among the consortium’s distributed ledger protocol services.
Hyperledger aims to update CULedger’s ecosystem by streamlining its KYC (Know Your Customer) solutions, and improving its lending and payments systems. IBM’s technology, as well as those of all CULedger’s blockchain associates, will be applied under circumstances when deemed necessary. Julie Esser, CULedger’s chief experience officer said:
“CULedger is building a network of networks that will facilitate the peer-to-peer exchange of anything digital. As we continue to develop our solutions, there will be applications better suited for different networks, and CULedger will enable those networks to interact with each other.”
Thailand SEC Approves First-Ever Foreign ICO Screening Portal
[Source: ccn.com]Thailand Securities and Exchange Commission (SEC) has approved a portal that would screen Initial Coin Offering projects (ICOs).
The securities regulator told the Bangkok Post they interviewed “roughly” 7–8 portals for the job of selecting ICOs, conducting due diligence, reviewing smart contract codes, and verifying the know-your-customer process. Eventually, the SEC’s board of directors approved one ICO portal out of all. The commission refused to share any further details about the selected company, except that it was a non-Thailand venture.
Archari Suppiroj, the SEC’s director of Fintech, confirmed that the commission had forwarded its selection to the relevant government agencies, including the Ministry of Commerce, for further consideration. She added that the ICO portal — if approved by the government — would list its first ICO deal for a public offering “under the digital asset royal decree.”
Disclaimer: The Daily Crypto Report is curated by DigiFinex for your reference only, it is NOT an investment advice.
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