BitMax.io Support
Sep 16 · 3 min read

Major Headlines

1. Crypto firms assess how to comply with anti-money-laundering standards

2. CryptoKitties Maker Attracts Warner Music; Ripple Rival Stellar’s $124 Million Airdrop

3. JOBS Act ‘Father’: $130 Million Bitcoin IPO Just The Beginning

4. Global central banks to question facebook-led Libra over financial risks

5. OKEX Korea Drops 5 Privacy Coins Citing FATF Rules

6. Los Angeles major’s office hosts blockchain startup competition

7. Facebook’s David Marcus responds to critics over Libra “threat”

8. Harbor Tokenizes Real Estate Funds Worth $100 Million on Ethereum

Takeaway

1. Crypto firms assess how to comply with anti-money-laundering standards

(All citations are taken from The Wall Street Journal)

· The industry is rushing to comply with new anti-money-laundering standards.

· The new standards require cryptocurrency exchanges and some digital wallet providers to send customer data to institutions receiving transfers of digital funds.

· Under the FATF guidelines, crypto firms must transmit customer data to other financial institutions when transferring &1,000 or more.

2. CryptoKitties Maker Attracts Warner Music; Ripple Rival Stellar’s $124 Million Airdrop

(All citations are taken from Forbes)

· Warner Music, the entertainment powerhouse behind major stars like Cardi B, Ed Sheeran and Bruno Mars, has joined an $11.2 million investment in Dapper Labs, the company best known for creating the viral blockchain game CryptoKitties.

· Warner’s blockchain team will work with Dapper Labs to create new digital assets featuring a roster of superstar talent. The companies will use a new public blockchain called Flow, which is capable of handling much larger transaction volumes than the Ethereum blockchain.

3. JOBS Act ‘Father’: $130 Million Bitcoin IPO Just The Beginning

(All citations are taken from Forbes)

· In 2010, while at Grant Thornton, David Wield authored an influential paper that ultimately provided the foundation for the Jumpstart our Business (JOBS) Act, signed into law in 2012 by President Barack Obama.

· The new act was designed to make it easier for more companies to go public, and for more people to invest.

· Weild says he now has 14 blockchain and cryptocurrency clients waiting in the rafters to bring the best of blockchain to the best of traditional exchanges, and perhaps, finally get the JOBS Act right. The link is his interview with Forbes.

4. Global central banks to question facebook-led Libra over financial risks

(All citations are taken from coindesk)

· Libra to face questions from 26 central banks over the perceived risks to financial stability posed by the cryptocurrency project

· The committee on payments and market infrastructure will quiz the Libra Association in Basel, Switerland.

· The threat to national currencies from Libra has also prompted authorities to ramp up plans for central bank-based digital currencies.

5. OKEX Korea Drops 5 Privacy Coins Citing FATF Rules

(All citations are taken from coindesk)

· OKEX exchange announced early on Monday that it is to delist five cryptocurrencies that provide extra privacy features for users.

· From Oct. 10, the exchange will no longer support trading in Monero (XMR), dash, zcash (ZEC), horizen (ZEN) and super bitcoin (SBTC).

6. Los Angeles major’s office hosts blockchain startup competition

(All citations are taken from cointelegraph)

· A blockchain startup contest called Block Tank will take place in front of a panel of celebrity judges at investment-focused blockchain conference CIS.

· Winners will receive an investment offer from GHV and a pilot project with the city.

· Four startups will be chosen by the city to be judged by the panel.

7. Facebook’s David Marcus responds to critics over Libra “threat”

(All citations are taken from coindesk)

· David Marcus has spoken out in response to claims saying the Libra project poses a threat to nation’s “monetary sovereignty”.

· “Debunk” argument being that Libra will be backed 1:1 by a basket of strong currency.

8. Harbor Tokenizes Real Estate Funds Worth $100 Million on Ethereum

(All citations are taken from coindesk)

· Harbor has pivoted from helping companies issue security tokens to helping them tokenize existing securities.

· Announced Monday, the startup has created tokens on the ethereum blockchain representing the shares of four real estate funds worth $100 million.

· The news also represents a strategic shift for Harbor, from helping clients raise funds by selling security tokens to providing an infrastructure layer for such instruments.

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

BitMax.io

BitMax is global operator of digital asset exchanges for diverse groups of clients from retail to institutions. The trading platform, architected by a group of Wall Street quant trading veterans, is designed for reliability and speed of trade execution, and ease of connectivity.

BitMax.io Support

Written by

BitMax.io

BitMax.io

BitMax is global operator of digital asset exchanges for diverse groups of clients from retail to institutions. The trading platform, architected by a group of Wall Street quant trading veterans, is designed for reliability and speed of trade execution, and ease of connectivity.

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