The Reserve

8 October 2017 | SUBSCRIBE

// REGULATION WANTED

With the lack of clarity from several governments, companies are busy regulating themselves.

The accusations laid against the market of the ‘Wild West’ miss the point that the vast majority of actors are good, trying to do the right thing and build a blockchain based world. Most have not used Silk Road. Most do not want to break the law.

Not only does a lack of clear regulation leave innovators creating their own, it reduces the flow of capital into the sector. Regulation will open the floodgates. Without clarity, the risk for retrospective action will remain high. And that will stop capital flooding in.

Regulation will give clarity, and the stamp of approval the sector needs to see it flourish. The lack of regulation throttles the flow of capital into the sector. This is only the beginning, and whatever the hype cycle now, things stand to get a lot better.

Regulation is not bad. Classification as securities - in the majority of situations - is expected.---Otherwise, please respond to this thread if you have any thoughts, comments or feedback on the Reserve.

// MUST READS

Auto-regulating cryptocurrency?
How Blockchain will reshape capitalism as we know it
Coinbase founder on the importance of decentralised exchanges
Bitcoin roadmap wars continue ahead of the 25th October hard fork

// PRICING SUMMARY

// DISASTER OF THE WEEK

Coinbase now under investigation by the Commodity Futures Trading Commission for the flash crash that saw Ether fall from >$300 to 10 cents in milliseconds. A reminder of the potential for retrospective action from regulatory bodies across the world.

// TRACTION

Goldman Sachs’ Blankfein tweets favourably on bitcoin, whilst plans are apparently being made for Goldman Sachs’ own cryptocurrency trading operation.
Cryptocurrency to be included in Russia’s financial literacy strategy.
Banking giants joined a trade finance platform built on IBM Blockchain.
Dubai’s government will develop its owns cryptocurrency that will enable citizens to pay for government and non-government services.

// ROAD TO REGULATION

Korea faces community fightback on proposed ‘total’ ban of ICOs.
India’s regulatory framework for cryptocurrency is finished and expected imminently.
Deputy Prime Minister of Singapore provides clarity on regulation around currencies and fundraising.
The Malta Gaming Authority is looking to test the introduction of cryptocurrency in to the economy in a sandbox.
Head of the French regulator AMF, Robert Ophele, states ICO regulation will come quickly, adding to comments by the AMF’s head of Fintech, on the complexities of regulating very diverse digital assets.
Austria makes an attempt at providing clarity on the income and value-added tax implications of bitcoin and cryptocurrencies.

// ICOS

Last week highlights:

Centra raised $17m for a wallet and card that allows you to spend your blockchain assets.
Monetha raised $37m for it’s cheaper, faster payment solution and trust system.
Real raised $11m for an investment platform into real estate.

Upcoming:

Rocket ICO - October 10th- Decentralized accelerator platform for startups.
FinTab - October 12th - An accounting system for cryptocurrency portfolios.
Papyrus - October 12th - A decentralized ecosystem for digital advertising.

// OTHER

The conversation that created Ethereum published (head to the bottom for excerpt). One Direction backs the Mingo ICO. As Steem - the blockchain-based content reward platform - continues to grow from strength to strength, see Wired’s previous coverage on the potential for revolution. Decentralising and rewarding power generation.