Day: March 12, 2019

HSBC Seeks Banking Partners in South Korea to Launch Voltron Blockchain Platform

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United Kingdom-based banking giant HSBC is seeking banking partners in South Korea to deploy the blockchain platform Voltron in the country, Korean news outlet The Korea Times reports on Tuesday, March 12. As reported, Voltron is a platform that enables companies to process and settle their trading invoices via blockchain. The solution was launched in October 2018 by blockchain consortium R3 and eight banks — including HSBC, ING and Standard Chartered — and is currently at the pilot stage. HSBC’s Innovation Director on Blockchain Joshua Kroeker, cited by The Korea…

How Iced Tea Company Went Blockchain and Failed Despite a 289 Percent Stock Rise

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On March 6, Long Blockchain Corp., previously known as Long Island Iced Tea, reached an agreement to sell its beverage business. In December 2017, the firm rebranded itself to focus on blockchain development and enjoyed a 289 percent boost in its stock. Since then, it has been delisted from Nasdaq, hit with a subpoena by the Securities and Exchange Commission (SEC), made (and then cancelled) mining-related plans, and limited its blockchain endeavors to one minor investment. Background: fairly successful iced tea company capable of securing a Nasdaq spot Long Island…

Client Demand for Crypto Payments Needs Cautious Response From Lawyers, Expert Says

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Cryptocurrency payments are a topic of increasing interest for United States lawyers following a recent conference panel, Bloomberg Law reported on March 11. Referencing participants in the 18th Annual Legal Malpractice & Risk Management (LMRM) Conference, which ran from March 5-7 in Chicago, the publication noted the prevalence of cryptocurrency payments in the legal profession, stemming from client demand. As the cryptocurrency industry and markets mature, more clients are asking to use digital assets for payment. Doing so can nonetheless yield mixed results, experts advised, with upfront bill payments differing…

SEC Chief Confirms Analysis That Ethereum isn’t a Security

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Securities and Exchange Commission Chairman Jay Clayton has formally confirmed existing staff analysis that Ethereum and other similar decentralized cryptocurrency assets are not securities, even if they were initially sold through an illegal securities offering. Clayton made this revelation in a letter sent to US House Rep. Ted Budd, who had requested that the SEC provide clarity on whether SEC Director of the Division of Corporate Finance William Hinman spoke for the agency when he said that Ethereum was not a security or was merely voicing his own opinion. While…

SEC Chief Confirms Analysis That Ethereum isn’t a Security

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Securities and Exchange Commission Chairman Jay Clayton has formally confirmed existing staff analysis that Ethereum and other similar decentralized cryptocurrency assets are not securities, even if they were initially sold through an illegal securities offering. Clayton made this revelation in a letter sent to US House Rep. Ted Budd, who had requested that the SEC provide clarity on whether SEC Director of the Division of Corporate Finance William Hinman spoke for the agency when he said that Ethereum was not a security or was merely voicing his own opinion. While…

Central Bank Suggests Limiting Sale of Crypto Assets for ‘Unqualified Investors’

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The Central Bank of Russia wants to set an annual limit for so-called “unqualified investors” that want to purchase digital assets, local business media giant RBC reported on Tuesday, March 12. According to the documents obtained by RBC, the bank wants to amend the current draft crypto bill, dubbed “On Digital Financial Assets,” which recently passed a second of three readings in Russia’s parliament, the State Duma. The central bank’s paper recommends equating investor limits to the ones set in a draft bill on crowdfunding, which is also being reviewed…

ECCU Plans to Issue World’s First Blockchain-Based Central Bank Digital Currency in the Caribbean

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About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startupsand has written over 1500 articles on Blockchain technology andstartups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat Ad honorem – Honorary Ph.d –…

ECCU Plans to Issue World’s First Blockchain-Based Central Bank Digital Currency in the Caribbean

boss

About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startupsand has written over 1500 articles on Blockchain technology andstartups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat Ad honorem – Honorary Ph.d –…

Legendary Investor Marc Faber Just Bought His First Bitcoin

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After being a bitcoin skeptic for almost a year, Marc Faber is willing to give the digital asset a try. In an interview with Cash, the legendary investor and stock market expert said that he bought his first bitcoins in late February. He admitted that he wanted to learn more about how digital currency works, which led him to his first decentralized asset purchase. He also added that at circa $3,000, bitcoin rates “looked better” to him that at $20,000 more than a year ago. “I was tempted to purchase…

MyEtherWallet Launches New Open Source Ethereum Blockchain Explorer

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Major Ethereum (ETH) wallet provider MyEtherWallet (MEW) has announced the launch of the alpha version of its new open source Ethereum blockchain explorer, EthVM, in a tweet from the official MEW Twitter account on March 11. The current version of EthVM shows data from the Ropsten network, an Ethereum testnet. Once deployed on Ethereum’s main network (mainnet), EthVM will be competing with Etherscan, the current leading Ethereum block explorer. In the tweet announcing the news, MEW asked users to report their feedback on the tool, stating: “Keep in mind that…