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BitMax.ioBTMX.io)News Digest 20190918

Major Headlines

1. The fed has no interest in regulating Facebook’s Libra

2. Bitcoin ETF proposal to SEC withdrew by Cbow, VamEck SolidX

3. Facebook’s obstacles in Europe mount as Germany opposes Libra

4. Germany passes national policy to explore blockchain but limit stablecoin

5. These iAngels Are Bringing New Heavyweights Into Bitcoin Investing

6. New Bitcoin Mutual Fund Eases Crypto Investing for Eager-Yet-Wary Asian Investors

7. Decentralized Employment Ecosystem Opolis to Integrate MakerDAO’s Dai Cryptocurrency

8. People With Least Knowledge Most Positive on Crypto’s Future: ING

Takeaway

1. The fed has no interest in regulating Facebook’s Libra

(All citations are taken from Bloomberg)

· Federal Reserve Chairman Jerome Powell refused to say the Fed would do anything about Libra.

· Powell said clearly that without broad new responsibilities and powers, the Fed was not the place Congress should look for answers about Libra or cryptocurrencies in general.

· Powell’s testimony was consistent with his previous comments that it’s
early days to discuss monetary impact of cryptocurrencies.

2. Bitcoin ETF proposal to SEC withdrew by Cbow, VamEck SolidX

(All citations are taken from Bloomberg)

· The proposed rule change would have allowed BZX to list and trade SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin trust.

· Director of digital asset strategy at Vaneck said that this could be a good step toward a fully publicly traded ETF.

· VanEck and SolidX Management LLC said in a statement that they had found a workaround for some large investors by using Rule 144A of the Securities Act of 1933.

3. Facebook’s obstacles in Europe mount as Germany opposes Libra

(All citations are taken from Bloomberg)

· Berlin government said that blockchain technology should not be used to develop private forms of money.

· Finance Minister Olaf Scholz said that the government will not allow private companies to be the issuance of a currency.

· A key concern from some regulators is that Facebook’s ambition would threaten the monetary policy function of the government.

4. Germany passes national policy to explore blockchain but limit stablecoin

(All citations are taken from coindesk)

· The strategy sets the government’s priorities in the blockchain space such as the digital identity, securities and corporate finance.

· The government itself will launch a pilot project for a blockchain-based digital identity in the near future.

· None of the proposed solutions have yet achieved a dominating role on the market.

5. These iAngels Are Bringing New Heavyweights Into Bitcoin Investing

· A former lawyer, software engineer and Wall Street veteran walk into a bar. By the time they leave, everyone there is jazzed about bitcoin.

· That’s how the three founders of the Israeli investment platform iAngels are promoting crypto adoption, by working with blockchain startups to secure investment and educating traditional venture capitalists about the space.

· “Most of our investors are more traditional,” Nameri told CoinDesk in Tel Aviv. “We are able to provide portfolio management in this industry. … We’re the bridge between the old world and this new industry.”

6. New Bitcoin Mutual Fund Eases Crypto Investing for Eager-Yet-Wary Asian Investors

· Hong Kong-based venture capital group CMCC Global launched its Liberty Bitcoin Fund to provide crypto currency access to accredited investors in Asia who are very interested but have been slow to buy the coins directly.

· The Liberty Bitcoin Fund is a single-asset passive tracker of Bitcoin and offers services including buying and safekeeping coins.

· CMCC Global has set up three funds since 2016. All of the funds are focused on investments in proprietary technical infrastructure such as ethereum network where developers can build applications.

7. Decentralized Employment Ecosystem Opolis to Integrate MakerDAO’s Dai Cryptocurrency

· Opolis received a development grant from MakerDAO to integrate its Dai cryptocurrency into its decentralized employer ecosystem for payroll and benefits, the company said.

· “Opolis is offering the best solution we’ve seen yet that can provide the security and benefits usually restricted to traditional workplaces,” Head of Community Development for MakerDAO Richard Brown said in a statement announcing the partnership

· “We’re partnering up to create a more streamlined system for [international] payroll remittance,” Paller said. “This would eliminate lots of different burdens and wait times and expensive fees in the traditional banking system.”

8. People With Least Knowledge Most Positive on Crypto’s Future: ING

· People with less knowledge about cryptocurrency are the most likely to be positive on its future, according to new research from Dutch bank ING.

· In a survey published Wednesday — which polled around 1,000 people in each of 15 mostly European countries — ING found that, overall, the level of detailed knowledge about crypto is fairly low.

· People were roughly equally split in the survey when asked to respond to statements on crypto’s role as the future of online spending and investment. Thirty-two percent said it is the future of online spending, down from 35 percent in 2018.

(The contents above are all cited from corresponding websites, and don’t represent the opinion of BitMax.io platform)

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