Business

Bakkt Rolls Out Cash-Settled Bitcoin Futures as CEO Enters U.S. Senate
Business

Bakkt Rolls Out Cash-Settled Bitcoin Futures as CEO Enters U.S. Senate

Last month, Bitcoin futures platform Bakkt announced plans to offer cash-settled Bitcoin futures contracts, as opposed to only offering a physically-settled product. The news was initially met with skepticism as cash-settled Bitcoin futures neither transact any bitcoin nor hold bitcoin in custody. Yet with Bakkt CEO Kelly Loeffler as the recently announced Senator-designate for the…

Thai SEC to Amend its Royal Decree on Cryptocurrency
Business

Thai SEC to Amend its Royal Decree on Cryptocurrency

In a recent announcement, Thailand’s Securities and Exchange Commission (SEC) said it is currently studying ways to amend its royal decree on digital assets. The jurisdiction wants to create a competitive market in Thailand, while also prioritizing investor protection. Thailand’s Royal Decree on Cryptocurrency Explained Earlier this year, Thailand launched an Initial Coin Offering (ICO)…

The SEC Received Over $4.3 Billion from Penalties in 2019
Blockchain, Business

The SEC Received Over $4.3 Billion from Penalties in 2019

According to the U.S. Securities and Exchange Commission’s (SEC) Annual Report for the fiscal year 2019, more than $4.3 billion were collected due to disgorgement and penalties. Out of the funds collected, approximately $1.2 billion were returned to harmed investors. The SEC’s 2019 Annual Report Explained 2019 was a busy year for the SEC. The…

UK Tax Authority: Cryptocurrencies Are Not Money
Blockchain, Business

UK Tax Authority: Cryptocurrencies Are Not Money

The United Kingdom’s (UK) tax, payments, and customs agency — Her Majesty’s Revenue and Customs (HMRC)— has updated its stance on digital asset taxation. Notably, cryptocurrencies will not be taxed as money, though certain taxes will still apply on a case-by-case basis. Crypto Taxes in the UK Explained HMRC has released a digital asset tax…

Ontario Regulatory Green Lights First Security Token Startup
Blockchain, Business

Ontario Regulatory Green Lights First Security Token Startup

The Ontario Securities Commission (OSC) is green lighting TokenGX’s request to facilitate secondary-market trading of security tokens. The platform will be released as a pilot program supporting security tokens until 2021.  The Ontario Securities Commission has approved a security token trading platform for Ontario residents only. The pilot program, called ‘FreedomX,’ will run until April…

Consumers Are Warming Up to the Idea of Using Tokens for Purchases
Business

Consumers Are Warming Up to the Idea of Using Tokens for Purchases

According to a new survey by KPMG, consumers are more willing than ever before to buy things with tokens. The cryptocurrency space is evolving as a method of payment and much of the public is taking notice. According to a survey by KPMG, roughly one-third of consumers consider themselves ‘familiar’ with blockchain-based tokens. What’s astonishing,…

Crypto Rating Council: XRP Uses “Securities-Like Language”
Business

Crypto Rating Council: XRP Uses “Securities-Like Language”

The new Crypto Rating Council, led by Coinbase and other major exchanges in the United States, have been rating tokens on whether they should be considered securities. According to their assessment, Ripple’s XRP has “securities-like language” and is likely a security. There’s always been some controversy surrounding the legal status of Ripple’s XRP token. We’ve…

Security Token Offerings to Debut in Japan Next Year
Business, STOs

Security Token Offerings to Debut in Japan Next Year

Leading brokerage firms in Japan will be coming together to establish rules on how to issue tokenized securities. Security token offerings (STO) will officially become an option in Japan next April. Japan is trying to catch up to the rest of East Asia and plans to allow security token offerings (STOs) next year. A legal…

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