Weekly Updates: Latest Crypto News (June 11–17)
EOS launch, tokenization of the world, and ICO rules. Follow TEOZ Weekly Updates to know more.
Stay tuned!
- EOS has been launched
On June 14, 2018, the EOS network was launched. Holders of 15% of EOS tokens voted for 21 block manufacturers. At the moment, EOS is in the fifth place by market capitalization ($ 9 billion and 240 million). Previously, ICO EOS lasted one year. During the ICO, more than $ 4 billion was raised, claiming the largest ICO in the world at the moment. The analytical department of Teoz Fund closely follows the new blockchain-platform. We expect that soon promising ICO projects will be launched here.
Source: eosnetworkmonitor.io
2. CEO Circle: We are only at the beginning of the tokenization
Jeremy Allaire is the CEO of the Circle start-up, which develops mobile payment solutions. Circle also purchased the Poloniex crypto exchange. Jeremy said that we are only at the beginning of the process of general tokenization. Any public information can be tokenized and turned into an asset capable of exchange. The information can contain the rights to any assets: home, car and even services. As a result, everything that can be estimated today in terms of money, in the end, can be tokenized.
If the development of the world follows the path that Jeremy talks about, then the digital assets market opens up prospects for tens of trillions of USD.
Source: is.gd/RW1DPj
News on the cryptocurrency regulation
- SEC: Ethereum and Bitcoin are not securities
The U.S. Securities and Exchange Commission Director, Division of Corporation Finance William Hinman at the All Market Summit: Crypto in San Francisco stated that the SEC is not going to consider bitcoin and ethereum as securities. According to him, these assets have more commercial properties. This sends the two largest cryptocurrencies to the US Futures Trading Commission (CFTC).
“If a cryptocurrency network is sufficiently decentralized and purchasers no longer have expectation of managerial stewardship from a third party, a coin is not a security.” — Hinman claimed.
Cryptocurrencies reacted positively to the statement of the SEC representative. The ETH rate on June 14 increased by more than 10% within 2 hours and the BTC rate by 4.5%. As a result, it has suspended or at least slowed down the already long drop.
Source: https://is.gd/q2gMTV
2. Ireland plans to become a blockchain center for world projects
IDA Ireland is a government agency that is responsible for attracting foreign investment to Ireland. The Office announced the launch of an online platform for the development of the country’s digital economy. The initiative is called “Blockchain Ireland” and is designed to make Ireland an ideal place for projects on blockchain technology:
“IDA Ireland’s strategy has always been to identify and secure reference projects from leading technology companies. We regard blockchain as an area with huge potential and we are seeing great interest among IDA Ireland’s client base. This initiative will enhance the blockchain industry in Ireland and our position as a global blockchain centre of excellence,” the State body’s chief information officer Keith Fingleton told The Irish Times.
Ireland is already known all over the world for its love of technology companies and the whole Silicon Docks area in the world-famous IT businesses. These companies primarily include Microsoft, Google, Amazon, PayPal, Yahoo!, Facebook, LinkedIn, Airbnb. Intel and Hewlett Packard have large factories in Kildare County, 15 km west of Dublin.
It is possible that Ireland will be able to repeat its success in the field of blockchain technology.
Source: is.gd/Z5KCIi
3. SEC и ICO
On the official website of the US Securities and Exchange Commission, there is now a whole section dedicated to the ICO. 5 facts about the ICO (according to the SEC):
- ICOs, based on specific facts, may be securities offerings, and fall under the SEC’s jurisdiction of enforcing federal securities laws.
- ICOs that are securities most likely need to be registered with the SEC or fall under an exemption to registration.
- ICOs, or more specifically tokens, can be called a variety of names, but merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security.
- While some ICOs may be attempts at honest investment opportunities, many may be frauds, separating you from your hard-earned money with promises of guaranteed returns and future fortunes. They may also present substantial risks for loss or manipulation, including through hacking, with little recourse for victims after-the-fact.
- If you choose to invest in these products, please ask questions and demand clear answers.
Also, there is information on what the investor needs to know when investing in ICO and what should be kept in mind by market professionals before they begin their activities with the ICO. The section is constantly updated, new articles appear on the ICO topic. We recommend you follow the updates in the section.
Source: sec.gov/ICO
The TOP-10 for a week
In TOP-10 there is stability on the participants and their positions, but the trend remains descending. All major cryptocurrencies showed negative dynamics.
The Teoz fund’s Token decreased from $ 1.87 to $ 1.64 (1 12.3%).
Russian version: is.gd/xsGvCs
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