Here’s all that you need to know regarding the happenings of the crypto and blockchain world that took place on November 20th, 2018.
Bakkt Delays Futures Contracts
The much-anticipated crypto and blockchain project termed ‘Bakkt’ has now delayed the launch of its futures contracts. These were initially planned to be launched in December 2018, but now, this happening has been pushed up to at least 24th January 2019.
Kelly Loeffler, the Chief Executive Officer of the platform, suggested in a blog post that this delay has been introduced owing to the volume of interest in the platform. With the release pushed further, the platform now has more time to onboard its customers and clear its members. The platform is aiming to then begin trading and warehouse bitcoins in the future. It wants to establish a global ecosystem so that merchants and consumers across the world can participate in its ecosystem.
In the United States, state-level regulators have stepped on the gas regarding the regulations present in the crypto world as of now. Scam initial coin offerings (ICOs) have been the center of attraction for most of the illegal actors in the crypto game. Different regulations are being presented forward regarding them with each passing day.
Alabama has been among the very active states in this regard. Talking to a news source, the chief litigator at Alabama Securities Commission estimated that almost 20 percent of the cease and desist orders regarding the crypto world have been presented forward by Alabama, among 50 of the other states.
The agency has also been a member of the North America Securities Administrators Association and has been involved in ‘Operation Cryptosweep’, a crackdown that aims to hunt down the scams related to initial coin offerings in the crypto world.
Although the major regulatory body in the form of U.S. Securities and Exchange (SEC) has drawn a lot of attention towards this world, it is the state-level regulators that have actual boots on the ground regarding the enforcement. After issuing several cease and desist orders, the state is also looking forward to deploying more of them.
Smart Contracts and Bitcoin
RSK Labs is now aiming to expand its development ecosystem.
The project has been rebranded as Root Infrastructure Framework (RIF) and wants to make sure that users are provided with an easy-to-use interface and language libraries so that the blockchain infrastructures is simplified for the users. Different open source protocols are being presented forward by the platform that can be integrated with the RSK smart contract platform.
The protocols presented by RIF focus at streamlining the development of decentralized applications, or dApps, so that the adoption of blockchain is made more wide across the world.