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IT'S A START: The U.S. Securities and Exchange Commission's DLT framework outlines how the regulator will apply the decades-old Howey test to cryptocurrencies and token sales, but a number of questions remain unanswered. In particular, the SEC has created a new term – "active participants" – that seems very broadly defined, and could have major implications for startups looking to sell tokens or launch their own networks. More than half a dozen legal experts and advocates weigh in on this and other areas where the SEC's guidance falls short. Full Story
OPEN DOOR: Blockchain startup Digital Asset is open sourcing its Digital Asset Modelling Language (DAML), the beating heart of projects like its partial re-plumbing of the Australian Securities Exchange (ASX). The move sees DA opening the door to DAML’s source code, its runtime system and the software development kit (SDK) – all under an Apache 2.0 license. It’s a major strategy play from the firm, which has had a shaky couple of months following the departure of chief executive Blythe Masters. DA told CoinDesk the move will help forge closer relations with other enterprise players, in particular the Linux-affiliated Hyperledger consortium. Full Story
EU ADVOCACY: SWIFT, IBM, Ripple and around 100 other firms and organizations have joined a new blockchain association aimed to promote adoption of the technology across the EU. A European Commission initiative, the International Association of Trusted Blockchain Applications (INATBA) has been set up as a “global multi-stakeholder forum” aimed to bring together developers and users of blockchain technology to promote mainstream adoption and encourage dialogue with regulators and policymakers. The group includes other notable members, including banks such as Barclays and BBVA, consultancy firm Accenture and French beauty product giant L’Oreal. Full Story
API FINANCE: A new startup launched by a former co-founder of Simple Bank, Shamir Karkal, wants to provide early-stage fintech startups with traditional banking service functionality. Sila unveiled an open beta Thursday, inviting developers of fintech firms – including blockchain and crypto startups – to begin building new tools using its API. The startup connects existing payment systems, such as automated clearing house (ACH) rails, with smart contract functionality on the ethereum network for businesses that have difficulty receiving banking services on their own. Full Story
NEW ETPS: Exchange-traded products (ETPs) tied to the prices of the cryptocurrencies XRP and litecoin have gone live on the Nordic Growth Market, a subsidiary of the Borse Stuttgart exchange. The four ETPs (two for XRP, two for litecoin) are available to investors based in the European Union, according to XBT Provider, the firm behind the products. The idea behind such products is to provide investors with an avenue for gaining exposure to cryptocurrencies but without actually purchasing them directly. Full Story |
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| BUYER GLUT: Bitcoin's pullback from the 4.5-month high of $5,345 reached yesterday to around $5,000 validates the extreme overbought conditions reported by the widely-followed relative strength index. The indicator is currently seen at well over 80.0, the highest level since December 2017. As a result, the crypto market leader could feel the pull of gravity over the next few days. Full Story |
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BEST OF THE BEST
STIRRING INTEREST: Even before the surge in the price of bitcoin a couple of days ago, activity in crypto wallets around the world was already picking up, Bloomberg reports. According to data from Flipside Crypto, while bitcoin was showing little price movement in mid-March, the number of inactive bitcoin wallets fell from the common level of 40-50 percent to as low as 10 percent. The uptick in activity is good news for cryptocurrency optimists, according to Eric Stone, Flipside Crypto's co-founder and head of data science. He added: "There are more people warming up to the idea of buying bitcoin."
THE REST
TAKING OFF: A U.N. agency is eyeing roles for blockchain across the aviation industry, RTT News reports. Dr. Olumuyiwa Benard Aliu, council president of the International Civil Aviation Organization (ICAO), said at a recent event that there are potential use cases for the technology in most areas of the aviation system, but would most benefit civil aviation customers and operators. He suggested that blockchain could bring improvements in areas such as managing cargo manifests, staff licensing and safety records, as well as in passenger identification.
SEEING GREEN: Crypto companies are watching their share prices jump alongside the broader crypto market, reports Bloomberg. Bitcoin exceeded $5,300 earlier this week, and firms like Remixpoint Inc. similarly saw their stocks climb. Remixpoint has seen a 26 percent boost this week, Vidente has climbed 20 percent and Riot Blockchain even briefly climbed 24 percent. Galaxy Digital, the crypto merchant bank founded by Michael Novogratz, is continuing a solid 2019 with its shares up 159 percent on the year. |
WHO WON #CRYPTOTWITTER  |
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Tepid response