US Republican Congressman Finalizing Bill to Exempt ICOs from Securities Laws
Warren Davidson, an avowed bitcoin fan and Republican Congressman , plans to introduce federal legislation that will regulate ICO and cryptocurrencies. The bill would create an “asset class” for tokens, which would prevent them from “being classified as securities, but would also allow the federal government to regulate initial coin offerings more effectively”. Republicans have been leading the pro-crypto charge in Washington by demanding more clarity on the Securities and Exchange Commission’s plans to regulate virtual currencies like bitcoin, though crypto has found support from across the political spectrum.
Bitcoin Price Sets New Yearly Low at $3,310
The recovery of Bitcoin discontinued with it touching a fresh yearly low on Friday morning, driving the crypto market even further down. Bitcoin couldn’t defend the $4,000 level and dropped to the $3,000 region. BTC/USD has not broken that next crucial level yet, but BTC dove to a new yearly low at $3,311 after trading as high as $3,849 less than 24 hours prior. Some analysts – including Bloomberg’s Mike McGlone – predicting that a mark as low as $1,500 would not be out of the question for the already-battered bitcoin price.
NRCC Breach Calls for New Methods of Security in US Politics
The hack of the National Republican Congressional Committee email system is throwing a spotlight on the duty to disclose cyberattacks on the political system. It’s still not clear what information the unknown intruders may have stolen from the committee, which is the campaign arm of the House GOP. The emails of political committees are increasingly being seen as a part of election infrastructure, experts said, given that they can provide foreign governments with a window into campaigns and sow confusion if they are selectively released.
Gazprombank Switzerland to Launch Crypto Services
Swiss bank Gazprombank anounced partnership with fintech startup Avaloq and crypto firm Metaco to provide crypto services next year and want “to implement their integrated crypto asset solution” aimed at banks and wealth managers. The system is meant “for the management of client portfolios across all asset classes, including cryptocurrencies.” After the implementation clients will be able to buy, sell and transfer crypto “without any need for a crypto-wallet or private key management.”
Fake Educational ICO Created to Teach Investors about Scamming
New Brunswick’s Financial and Consumer Services Commission has made a completely fake website and ICO to educate investors on the danger of cryptocurrency frauds. The FCNB created TydeCoyn, offering Canadians the opportunity to invest in a “cryptocurrency token that marries tourism promotion and environmental activism” .
Australian Institute Launches First Fully Accredited Blockchain Courses
First and fully accredited blockchain course in Australia titled the ‘Advanced Diploma of Applied Blockchain’ was announced this week. The educational institute stated that the course would be delivered through registered training bodies, intensive learning retreats and online classes. The course is Australia’s first blockchain course to be fully accredited by the Australian Skills Quality Authority, making it the first formal and nationally recognized blockchain course in Australia.