Hey everyone,
In my Weekly Crypto Overview, I will assemble the important news of the last week and make a summary of it. This way you will have one place to go for all the significant events that happened the week before in crypto. I hope you enjoy it and that it saves you a lot of time searching for all the news. I know not everyone has the privilege to be full-time in crypto, so I hope this is a solution for many of you.
- Elon Musk CEO of Dogecoin
- SEC Releases Crypto Token Guidance
- First Crypto No-Action Letter Issued By The SEC
- Google Searches For Bitcoin Going Up
Elon Musk CEO of Dogecoin
Last week Elon Musk joined Crypto Twitter once again and this time he tweeted about Dogecoin. On April the first Dogecoin tweeted a poll about Dogecoin needing a CEO (as a joke) and Elon Musk was the winner of that poll.
Elon Musk gladly took this opportunity and changed his bio on Twitter to CEO of Dogecoin for a little while.
SEC Releases Crypto Token Guidance
The U.S. Securities and Exchange Commission (SEC) has published fresh regulatory guidance for token issuers, nearly half a year in the making. The guidance includes examples of both networks and tokens that fall under securities laws, as well as a project which does not.
Read the announcement from the SEC here and have a look at the framework here.
First Crypto No-Action Letter Issued By The SEC
The U.S. Securities and Exchange Commission (SEC) has issued a “no-action” letter to TurnKey Jet, Inc., agreeing that tokens used by the business-travel startup are not securities. The regulatory stamp of approval is contingent upon the company using its tokens under certain conditions.
James Prescott Curry, the lawyer who worked with TurnKey Jet, told Coindesk that he submitted the first draft of the letter on May 23, 2018. Meaning it was a long, but rewarding, process.
Read Coindesk’s full article here.
Google Searches For Bitcoin Going Up
With Bitcoin Trading back above $5,000, more eyes are on the world’s largest cryptocurrency, bitcoin, than have been in nearly 19 weeks. Coindesk affirmed this fact as worldwide Google searches for “bitcoin” currently hover at levels not seen since Nov. 20.
The significance of a spike in bitcoin searches may seem trivial at face value, but studies have shown there is a connection between the price of the cryptocurrency and its search interest. The core findings suggest periods of low search volume tend to precede large markups in price that coincide with bitcoin’s famous, or perhaps infamously wild market cycles.
Read Coindesk’s full article here.
That’s it for now. All the best to everyone!
Khilone
The material contained in this article is not to be regarded as an recommendation to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information on this document does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this document when making any investment decisions.
