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It Is No Longer a Matter of ‘If’, But ‘When’ Coinbase Will List XRP

On the 7th of December, the popular American cryptocurrency exchange of Coinbase made an announcement that excited a lot of crypto enthusiasts as well as angering a few. The announcement was that the exchange was considering support for 31 additional digital assets on its platform. A few crypto enthusiasts wondered why the exchange would provide a new list when the previous list – that still had Stellar (XLM) and Cardano (ADA) – was not complete.

Others pointed out that the exchange went ahead and listed 4 ‘relatively unknown’ ERC20 tokens rather than solid tokens linked to solid projects. These 4 tokens were Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA).

One such complaint can be seen in the following tweet.

A Silver Lining for XRP

The new list did however include XRP thus providing a silver lining for fans of the digital asset who have been waiting for a listing since early January this year. Back then, XRP went on to reach levels of $3.84 as traders were sure it was next to be listed on the exchange. Bitcoin Cash had been listed a few weeks earlier in December 2017.

But the listing fell through and XRP tailspinned to current levels of around $0.30. The decline in value was  however accelerated by the current bear market that was catalyzed by regulatory fears across the globe, exchanges being hacked, hash wars and traders throwing in the towel due to investor fatigue.

XRP Continually Resilient

However, amidst the turmoil, XRP has managed to become one of the most resilient digital assets in the current bear market. XRP has slowly but surely climbed the ranks according to market capitalization even edging out Ethereum (ETH) in the process. XRP is now ranked second according to market capitalization.

Discrepancies Between Coinmarketcap.com and Yahoo Finance

XRP traders have noted that when using the popular cryptocurrency tracking website of Coinmarketcap.com, $50 Billion in market capitalizations stands between XRP and Bitcoin: The King of Crypto.

Checking the cryptocurrency screener on Yahoo Finance, we find that the difference in market capitalization between the top two is  now reduced to $30 Billion. A screenshot from Yahoo has been provided below for a better visualization.

The difference between the two tracking websites is that Coinmarketcap does not include the entire supply of XRP when doing its calculations for market capitalization. It uses 40.92 Billion XRP to reach the market cap figure of $12.86 Billion. Yahoo on the other hand, uses the entire 99.99 Billion XRP to calculate its market cap figure of $31.367 Billion.

Market Reaction When Coinbase Lists XRP

This then leaves us with the question as to what will be the market reaction when Coinbase lists XRP. The exchange has already provided the information that it is exploring listing the digital asset. Therefore, it is safe to assume if XRP is listed in the coming days, it could close the gap it has with Bitcoin or even succeed in dethroning the King of Crypto.

Using Coinmarketcap figures, XRP needs only be valued at $1.525 to dethrone BTC. On the other hand, when using Yahoo’s figures, XRP needs to be valued at $0.624 to achieve a similar feat.

Do you think Coinbase will list XRP soon? What will be the market reaction of such an event? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post It Is No Longer a Matter of ‘If’, But ‘When’ Coinbase Will List XRP appeared first on Ethereum World News.

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Why We Might Wait a While for Coinbase to List Cardano (ADA), XRP and Stellar (XLM)

In a move that has left many crypto enthusiasts scratching their heads, the cryptocurrency exchange of Coinbase has announced that it was exploring listing another set of cryptocurrencies. This new list was announced before completion of the previous list of 5 digital assets. That list still had 2 digital assets yet to be listed on Coinbase: Cardano (ADA) and Stellar (XLM).

The exchange made the announcement via twitter as follows:

Coinbase is exploring the addition of 30+ new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law.

A Total of 31 Digital Assets

Coinbase went on to announce via Medium.com that it was exploring the following new list of 31 digital assets.

Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL).

The Observation that Coinbase Likes to List ERC20 Tokens First

In the previous list of 5 digital assets that Coinbase was exploring, it was noted that the exchange listed the ERC20 tokens of Ox (ZRX) and Basic Attention Token (BAT) first. This is in line with a March 2018 announcement by the exchange that it was supporting the Ethereum ERC20 technical standard. From a software integration point of view, Coinbase will have an easier time listing ERC20 tokens than listing Cardano (ADA), Stellar (XLM), XRP and any other coin with a different protocol.

25 Tokens In the New List

Out of the 31 digital assets mentioned by Coinbase, 6 are coins on their own networks. They include ADA, EOS, NEO, XLM, XRP and Tezos (XTZ).

This means that the other 25 are tokens that could be listed before the 6 aforementioned coins.

We can also assume that the exchange might choose to list Dai (DAI) next since it is a stablecoin. The past few months of market volatility has created a need for stablecoins for traders to hedge with during times of market turmoil.

The ‘Anomaly’ That was ZCash (ZEC)

The listing of ZEC by Coinbase a few days back caught many traders off guard. No one expected ZEC to be listed before ADA and XLM. This then led us to explore two speculative reasons as to why this was so.

Firstly, we put forth the idea that Coinbase wants to compete with the Gemini exchange by the Winklevoss Twins that already has ZEC. Secondly, we put forth the idea that ZEC was listed due to demand by institutional clients. Coinbase did a similar thing when they opened an OTC trading desk after requests from institutional investors.

The Silver Lining

However, in our attempt to explain how and when Coinbase will list XLM, XRP or ADA, we have missed the obvious: that the future holds the possibility of more digital assets being listed on the platform.

What are your thoughts on Coinbase announcing a new list of 31 digital assets before completing the earlier list of 5 that included ADA and XLM? Please let us know in the comment section below.

[Image courtesy of Shutterstock]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Why We Might Wait a While for Coinbase to List Cardano (ADA), XRP and Stellar (XLM) appeared first on Ethereum World News.

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Coinbase CTO Clarifies That The Firm Will Not Trademark the Word BUIDL

Earlier on in the day, there were news reports that the American cryptocurrency exchange of Coinbase had intentions of trademarking and owning the term ‘BUIDL”. The term is an intentional misspelling of the word ‘build’ that has been popularized by developers building on the blockchain. The CEO of Binance, Changpeng Zhao, has used the term several times to explain to the crypto community that the best thing to do during a bear market, is simply to keep BUIDLing.

Crypto community members have even proposed that BUIDL should replace HODL as can be seen in the following tweet by @KoroushAK.

The Trademark Application By Coinbase

The application to the Commissioner for Trademarks in the United States is available online and it clearly states that Coinbase Inc, a corporation of Delaware (USA), is the sole applicant wishing to trademark the word BUIDL.

Coinbase CTO Clarifies that the Firm Will Not Trademark BUIDL

Talk on twitter of Coinbase trademarking the word has caught the attention of the firm’s Chief Technology Officer, Balaji Srinivasan.

Mr. Srinivasan has in turn clarified via twitter that the firm’s CEO – Brian Armstrong – and himself, do not believe in trading such words that obviously belong to the crypto and blockchain communities.

His tweet can be found below.

Mr. Srinivasan also explained that the firm had no intention of preventing the community from using the term.

In more detail: the team had no intention to prevent the community from using it. There had been thought of a feature named Coinbase BUIDL and they didn’t want to attract patent trolls for a common term. Was 100% defensive filing.

What are your thoughts on the initial report of Coinbase trademarking the word BUIDL? Do you agree with the firm’s CTO that such unique words belong to the crypto community? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Coinbase CTO Clarifies That The Firm Will Not Trademark the Word BUIDL appeared first on Ethereum World News.

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The ‘Loose Theory’ that Wall Street is Manipulating Bitcoin (BTC) and Cryptos

Hollywood movies are never too far removed from reality. In the case of unfair practices on Wall Street, we have seen it in legendary movies such as the 1987 classic by Michael Douglas and Charlie Sheen also known as Wall Street. The movie was loosely responsible for the attraction many young graduates – in the 80s and 90s – had for stock market trading. In a nutshell, the movie glorified greed.

We have also seen several other films that continue to give us a glimpse of the underbelly of what goes on in the traditional markets. These movies include The Big Short, Gold, Wall Street II, Margin Call, The China Hustle, just to name a few. With the weekend a few hours away, the aforementioned movies might be worth exploring for any crypto enthusiast with free time.

The Theory That Wall Street Is Manipulating Bitcoin and Crypto

It is no secret that the talk in most crypto communities on all social media platforms has hinted that Wall Street has a hand in the current market turmoil we are experiencing. The discussions started on December 17th when the CME Group and CBOE started offering Bitcoin Futures. Coincidentally, this was the last time we saw BTC at $20,000. This has been viewed by many, as the beginning of the bear market that has matured into the full blown crash that has been accelerated by Fake news, Hash Wars and postponed ETF decisions.

Scare Tactics By Wall Street to Buy Low

The fact of the matter is that the Securities and Exchange Commission (SEC) is yet to give concrete guidelines as to how Bitcoin and Cryptocurrencies should be regulated in the United States. However, the commission can be lauded for taking a stand against ICOs and categorizing them as securities offerings. This has opened up the doors to investigating over-hyped ICOs that have left many in financial ruins. The SEC has even settled with Floyd Mayweather and DJ Khaled for their role in hyping such ICOs.

However, the SEC has not got down to penalizing prominent individuals who declare BTC as dead or Ethereum as a shit coin. For them to do so, they would have to recognize Bitcoin and other Cryptos as assets worthy of regulation. Without regulation, any individual can say negative statements about BTC. This means the CEOs and Chairpersons of prominent Wall Street firms, can express their freedom of speech when it comes to BTC and cryptocurrencies.

If the SEC were as swift with crypto as they were with Elon Musk and his tweeting habits, the crypto-verse would be a far much safer place.

Crypto Trading is the Wild West

But the bottom line is that they have not yet started penalizing those who manipulate the crypto markets in a manner similar to how they handle traditional markets. This leaves crypto trading wide open like the American Wild West as glorified in cowboy movies, video games (Red Dead Redemption) and books. For you to survive during the Wild West, you had to think on your feet and be quick with your guns.

This can be compared to how crypto traders are constantly adapting with the markets. Some have even decided that shorting BTC and ETH is more attractive on Bitmex. According to them, going long makes no sense during this bear market.

Youtube Video Explaining How Manipulation Is Happening

As we wind down this conversation, there is a youtube video circulating in the crypto community that explains how prominent Wall Street firms and their CEOs have been saying all the right things to cause BTC and crypto to fall as they buy. The video can be found below. It is up to the viewer to make their own final conclusions based on their own research and beliefs.

What are your thoughts on the theory that Wall Street is manipulating Bitcoin to buy in cheap? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post The ‘Loose Theory’ that Wall Street is Manipulating Bitcoin (BTC) and Cryptos appeared first on Ethereum World News.

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The ‘Loose Theory’ that Wall Street is Manipulating Bitcoin (BTC) and Cryptos To Buy Cheap

Hollywood movies are never too far removed from reality. In the case of unfair practices on Wall Street, we have seen it in legendary movies such as the 1987 classic by Michael Douglas and Charlie Sheen also known as Wall Street. The movie was loosely responsible for the attraction many young graduates – in the 80s and 90s – had for stock market trading. In a nutshell, the movie glorified greed.

We have also seen several other films that continue to give us a glimpse of the underbelly of what goes on in the traditional markets. These movies include The Big Short, Gold, Wall Street II, Margin Call, The China Hustle, just to name a few. With the weekend a few hours away, the aforementioned movies might be worth exploring for any crypto enthusiast with free time.

The Theory That Wall Street Is Manipulating Bitcoin and Crypto

It is no secret that the talk in most crypto communities on all social media platforms has hinted that Wall Street has a hand in the current market turmoil we are experiencing. The discussions started on December 17th when the CME Group and CBOE started offering Bitcoin Futures. Coincidentally, this was the last time we saw BTC at $20,000. This has been viewed by many, as the beginning of the bear market that has matured into the full blown crash that has been accelerated by Fake news, Hash Wars and postponed ETF decisions.

Scare Tactics By Wall Street to Buy Low

The fact of the matter is that the Securities and Exchange Commission (SEC) is yet to give concrete guidelines as to how Bitcoin and Cryptocurrencies should be regulated in the United States. However, the commission can be lauded for taking a stand against ICOs and categorizing them as securities offerings. This has opened up the doors to investigating over-hyped ICOs that have left many in financial ruins. The SEC has even settled with Floyd Mayweather and DJ Khaled for their role in hyping such ICOs.

However, the SEC has not got down to penalizing prominent individuals who declare BTC as dead or Ethereum as a shit coin. For them to do so, they would have to recognize Bitcoin and other Cryptos as assets worthy of regulation. Without regulation, any individual can say negative statements about BTC. This means the CEOs and Chairpersons of prominent Wall Street firms, can express their freedom of speech when it comes to BTC and cryptocurrencies.

If the SEC were as swift with crypto as they were with Elon Musk and his tweeting habits, the crypto-verse would be a far much safer place.

Crypto Trading is the Wild West

But the bottom line is that they have not yet started penalizing those who manipulate the crypto markets in a manner similar to how they handle traditional markets. This leaves crypto trading wide open like the American Wild West as glorified in cowboy movies, video games (Red Dead Redemption) and books. For you to survive during the Wild West period, you had to think on your feet and be quick with your guns.

This can be compared to how crypto traders are constantly adapting with the markets. Some have even decided that shorting BTC and ETH is more attractive on Bitmex. According to them, going long makes no sense during this bear market.

Youtube Video Explaining How Manipulation Is Happening

As we wind down this conversation, there is a youtube video circulating in the crypto community that explains how prominent Wall Street firms and their CEOs have been saying all the right things to cause BTC and crypto to fall as they buy. The video can be found below. It is up to the viewer to make their own final conclusions based on their own research and beliefs.

What are your thoughts on the theory that Wall Street is manipulating Bitcoin to buy in cheap? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post The ‘Loose Theory’ that Wall Street is Manipulating Bitcoin (BTC) and Cryptos To Buy Cheap appeared first on Ethereum World News.

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Why A Bitcoin (BTC) ETF Might Be Approved in February 2019

A few hours ago, the cryptocurrency and investor communities were notified of the delay by the Securities and Exchange Commission (SEC) to rule on the pending VanEck Bitcoin ETF until February 27th. Some have even linked the announcement to the current blood bath in the crypto markets that has the total crypto market capitalization at $108.68 Million with BTC trading at $3,433 ahead of a shakey weekend. Ethereum (ETH) has dropped under $90 and is trading at $87.

The only coin in the top 100 doing well is Bitcoin SV (BSV) that is up 19% in the last 24 hours. BSV has also managed to flippen Bitcoin Cash (BCH).

Why The VanEck ETF is Significant 

The VanEck Bitcoin ETF has been viewed by many as the much needed catalyst that could ignite the next cryptocurrency Bull run. An ETF would be an indirect stamp of approval by the SEC that classifies BTC is a viable investment asset. It will set the stage for other ETFs backed by other prominent digital assets such as ETH or a combination of digital assets.

Why an ETF Might Be Approved in February

Firstly, we saw that MV Index Solutions – based in Frankfurt Germany and linked to VanEck – launched the MVIS Bitcoin US OTC Spot Index (MVBTCO). This index is based on price feeds from OTC (Over The Counter) digital asset trading operations in the US carried out by the firms of Circle Trade, Cumberland and Genesis Trading.

By opening up their books, markets will better understand the price movements of BTC and other major cryptocurrencies. The additional transparency might aid in the SEC approving the ETF next year.

Secondly, Bakkt would have launched its physically settled Bitcoin Futures contracts by the end of January. This will increase the confidence in Bitcoin across the investor communities that comprise of hedge funds, high net individuals and even the regular investor who had stood on the side-lines waiting for some ‘sanity’ to present itself in the crypto-verse.

Nasdaq is also meant to launch their Bitcoin Futures products in the first quarter of 2019. Both Nasdaq and Bakkt probably have the go ahead from the CFTC (Commodity Futures Trading Commission) thus adding validity to Bitcoin.

Thirdly, the New Year brings with it the possibility of the Commissioners at the SEC having a change of heart about the pending ETF. Perhaps the Holiday Season will recharge them to the point where they see the validity of the application by VanEck. We have to remember that 2018 has been a long year and we all need some time to recharge.

A Word Of Caution from Commissioner Hester Peirce

However, Commissioner Hester Peirce – also known as crypto mom – has cautioned crypto ethusiasts and investors not to wait on the ruling of the SEC as it might take a long time for the regulatory body to approve it. She explained that the SEC has 5 commissioners and a majority ruling is needed for an ETF to pass.

She said:

Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved. You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people

In conclusion, the SEC announced that they would be pushing the ETF decision to February 2019. We have explored three reasons why the odds might be in favor of an approval next year. We have looked at the MVIS Bitcoin US OTC Spot Index; both Bakkt and Nasdaq offering futures contracts; and we have also looked at the possibility of the Commissioners having a change of heart with the new year. However, we were reminded by Commissioner Peirce not to depend too much on the decision.

What are you thoughts on the new date of February 27th as the new deadline fro an ETF decision? Do you think it will be approved? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Why A Bitcoin (BTC) ETF Might Be Approved in February 2019 appeared first on Ethereum World News.

Posted on

Why A Bitcoin (BTC) ETF Might Be Approved in February 2019

A few hours ago, the cryptocurrency and investor communities were notified of the delay by the Securities and Exchange Commission (SEC) to rule on the pending VanEck Bitcoin ETF until February 27th. Some have even linked the announcement to the current blood bath in the crypto markets that has the total crypto market capitalization at $108.68 Million with BTC trading at $3,433 ahead of a shakey weekend. Ethereum (ETH) has dropped under $90 and is trading at $87.

The only coin in the top 100 doing well is Bitcoin SV (BSV) that is up 19% in the last 24 hours. BSV has also managed to flippen Bitcoin Cash (BCH).

Why The VanEck ETF is Significant 

The VanEck Bitcoin ETF has been viewed by many as the much needed catalyst that could ignite the next cryptocurrency Bull run. An ETF would be an indirect stamp of approval by the SEC that classifies BTC as a viable investment asset. It will set the stage for other ETFs backed by other prominent digital assets such as ETH or a combination of digital assets.

Why an ETF Might Be Approved in February

Firstly, we saw that MV Index Solutions – based in Frankfurt Germany and linked to VanEck – launched the MVIS Bitcoin US OTC Spot Index (MVBTCO). This index is based on price feeds from OTC (Over The Counter) digital asset trading operations in the US carried out by the firms of Circle Trade, Cumberland and Genesis Trading.

By opening up their books, markets will better understand the price movements of BTC and other major cryptocurrencies. The additional transparency might aid in the SEC approving the ETF next year.

Secondly, Bakkt would have launched its physically settled Bitcoin Futures contracts by the end of January. This will increase the confidence in Bitcoin across the investor communities that comprise of hedge funds, high net individuals and even the regular investor who had stood on the side-lines waiting for some ‘sanity’ to present itself in the crypto-verse.

Nasdaq is also meant to launch their Bitcoin Futures products in the first quarter of 2019. Both Nasdaq and Bakkt probably have the go ahead from the CFTC (Commodity Futures Trading Commission) thus adding validity to Bitcoin.

Thirdly, the New Year brings with it the possibility of the Commissioners at the SEC having a change of heart about the pending ETF. Perhaps the Holiday Season will recharge them to the point where they see the validity of the application by VanEck. We have to remember that 2018 has been a long year and we all need some time to recharge.

A Word Of Caution from Commissioner Hester Peirce

However, Commissioner Hester Peirce – also known as crypto mom – has cautioned crypto ethusiasts and investors not to wait on the ruling of the SEC as it might take a long time for the regulatory body to approve it. She explained that the SEC has 5 commissioners and a majority ruling is needed for an ETF to pass.

She said:

Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved. You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people

In conclusion, the SEC announced that they would be pushing the ETF decision to February 2019. We have explored three reasons why the odds might be in favor of an approval next year. We have looked at the MVIS Bitcoin US OTC Spot Index; both Bakkt and Nasdaq offering futures contracts; and we have also looked at the possibility of the Commissioners having a change of heart with the new year. However, we were reminded by Commissioner Peirce not to depend too much on the decision.

What are you thoughts on the new date of February 27th as the new deadline fro an ETF decision? Do you think it will be approved? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Why A Bitcoin (BTC) ETF Might Be Approved in February 2019 appeared first on Ethereum World News.

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US Congressman is Working On a Bill To Exempt ICOs and Cryptos From Securities Laws

United States Congressman Warren Davidson from Ohio has announced plans of introducing legislation that will regulate ICOs (Initial Coin Offerings) and cryptocurrencies as a different asset class thus exempting them from current securities laws. Mr. Davidson represents Ohio’s 8th District and can be considered as a voice of reason when it comes to the topic of crypto and ICO regulation in the United States.

The legislation has not yet been made public but Mr. Davidson promised that it would be soon as there was an urgent need to provide clarity into the new industry. He added that ICOs and cryptocurrencies provided an alternative method for entrepreneurs to raise capital.

Warren Davidson announced his plans this past Monday at the Blockland Solutions Conference held in Cleveland, Ohio. The four day event was from the 1st of December till the 4th and included the following list of prominent speakers.

  • Joseph Lubin – Ethereum Co-founder and Founder of Consensys
  • Mark Hurd – CEO, Oracle Corporation
  • Jerry Cuomo – IBM Fellow, Vice President, Blockchain Technology, IBM
  • John Donovan – CEO AT&T Communications
  • Jeremy Gutsche – CEO, Trend Hunter AI and bestselling Author
  • Jason Kelley – General Manager, Blockchain Services, IBM
  • Beth Mooney – Chairman and CEO, KeyCorp
  • Larry Sanger – Wikipedia Co-founder and Chief Information Officer of Everipedia
  • Nick Szabo – Inventor of Smart Contracts and Bit Gold
  • Alex Tapscott – Author, Blockchain Revolution and Co-founder of Blockchain Research Institute

Republicans Leading the Charge for Clarity from the SEC Regarding Cryptos and ICOs

To note is that Warren Davidson is a member of the Republican party. Members of the party have been noted to be the most vocal in demanding clarity from the Securities and Exchange Commission (SEC) with regards to how to regulate Bitcoin and other cryptocurrencies in the United States.

Back in August, Davidson had invited 32 cryptocurrency organizations to discuss ICO regulation. The round-table discussion was held on the 25th of September at Capital Hill. A recording of the discussion is available on the popular video streaming website of Youtube through this link.

What are your thoughts on the possibility of Congressman Warren Davidson introducing legislation that exempts ICOs and cryptos from the current securities laws? Please let us know from the comment section below. 

[Image courtesy of davidson.house.gov]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post US Congressman is Working On a Bill To Exempt ICOs and Cryptos From Securities Laws appeared first on Ethereum World News.

Posted on

US Congressman is Working On a Bill To Exempt ICOs and Cryptos From Securities Laws

United States Congressman Warren Davidson from Ohio has announced plans of introducing legislation that will regulate ICOs (Initial Coin Offerings) and cryptocurrencies as a different asset class thus exempting them from current securities laws. Mr. Davidson represents Ohio’s 8th District and can be considered as a voice of reason when it comes to the topic of crypto and ICO regulation in the United States.

The legislation has not yet been made public but Mr. Davidson promised that it would be soon as there was an urgent need to provide clarity into the new industry. He added that ICOs and cryptocurrencies provided an alternative method for entrepreneurs to raise capital.

Warren Davidson announced his plans this past Monday at the Blockland Solutions Conference held in Cleveland, Ohio. The four day event was from the 1st of December till the 4th and included the following list of prominent speakers.

  • Joseph Lubin – Ethereum Co-founder and Founder of Consensys
  • Mark Hurd – CEO, Oracle Corporation
  • Jerry Cuomo – IBM Fellow, Vice President, Blockchain Technology, IBM
  • John Donovan – CEO AT&T Communications
  • Jeremy Gutsche – CEO, Trend Hunter AI and bestselling Author
  • Jason Kelley – General Manager, Blockchain Services, IBM
  • Beth Mooney – Chairman and CEO, KeyCorp
  • Larry Sanger – Wikipedia Co-founder and Chief Information Officer of Everipedia
  • Nick Szabo – Inventor of Smart Contracts and Bit Gold
  • Alex Tapscott – Author, Blockchain Revolution and Co-founder of Blockchain Research Institute

Republicans Leading the Charge for Clarity from the SEC Regarding Cryptos and ICOs

To note is that Warren Davidson is a member of the Republican party. Members of the party have been noted to be the most vocal in demanding clarity from the Securities and Exchange Commission (SEC) with regards to how to regulate Bitcoin and other cryptocurrencies in the United States.

Back in August, Davidson had invited 32 cryptocurrency organizations to discuss ICO regulation. The round-table discussion was held on the 25th of September at Capital Hill. A recording of the discussion is available on the popular video streaming website of Youtube through this link.

What are your thoughts on the possibility of Congressman Warren Davidson introducing legislation that exempts ICOs and cryptos from the current securities laws? Please let us know from the comment section below. 

[Image courtesy of davidson.house.gov]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Posted on

Tron (TRX) Continues to Hold On to the Number 10 Spot Ahead of Cardano (ADA)

A little over 24 hours ago, Tron (TRX) edged out Cardano (ADA) to take the number 10 spot according to market capitalization as reported by Coinmarketcap.com. TRX has managed to leave behind Monero (XMR), IOTA and Binance Coin (BNB) on its way to the top 10. Around $30 Million in market capitalization separates TRX and ADA. Bitcoin SV (BSV) is $700 Million ahead of Tron in market capitalization. Time will tell if TRX will also edge out BSV.

A clearer view of the situation has been provided by the screen shot below.

Possible Developments that Could Have Led to TRX Moving Up to Number 10

To begin with, on the 28th of November the Tron foundation released an upgraded version of Tron Mainnet. Dubbed Odyssey 3.2, the upgrade has the following additional features.

  • New in-memory database that is safer and more stable
  • TRC10 token support for the Tron Virtual Machine (TVM)
  • Support of resource delegation – users can freeze TRX to obtain energy for other users. This means that a developer who does not have enough TRX can ask others to freeze TRX for him to deploy and run his smart contract

Secondly, the recent news of the Tron network adopting zk-SNARKS to enhance privacy by the first quarter of 2019, has really ignited interest in the digital asset. Justin Sun made the announcement of plans to use the popular ZCash technology during an interview with the Bad Crypto Podcast where he explained it as follows.

First of all, I think that transparency [on the Tron blockchain] is very important…and also the governance. That is how people have trust in this network.

I think privacy is also important for the network. So that’s why I think in next year, Q1, we will adopt the zk-SNARKs into our network. So zero-knowledge proof into our network…

This is how we can improve the privacy of the whole network.

Thirdly, the Tron community has been constantly excited by the Decentralized exchange on Tronscan as well as two other DEX’s: Tron Watch Market and TrxDEX.io.

Fourthly, the Tron Network has continually proven itself in terms of handling millions of transactions per day. The number of transactions in the last 24 hours was recorded at 1.96 Million txs. On the 1st of December, this number was at 2.4 Million transactions in a day. Comparing with Ethereum’s 600,000 transactions in the last 24 hours, we find that Tron has tripled ETH’s number.

Summing it up, TRX has once again entered the top 10 list of cryptocurrencies according to market capitalization. We have also explained four reasons as to why this has happened.

What are your thoughts with TRX making it back in the top 10 cryptocurrencies according to market capitalization? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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