Opinions

Crypto & Blockchain Recap: 28th November, 2018

Here is what you need to know regarding the recent developments that were made in the crypto and blockchain world.

No Signs of a Crypto-Linked ETF

The chairman of the prominent regulatory body, United States Securities and Exchange Commission (SEC), Jay Clayton recently attend the Consensus: Invest conference which was held in New York.

All the crypto eyes were focused on Jay regarding his remarks on the possibility of a crypto-linked exchange-traded fund (ETF) anytime soon, which has not been approved as of yet despite the growing demand.

Jay suggested that a crypto-focused exchange-traded fund (ETF) is unlikely to get a green light from the SEC unless the issues like manipulation, custody etc. are solved. ICO regulation is also an issue that is very prominent these days owing to scams that are linked with them.

For the crypto community, the message is very clear. Unless the issues listed out by the SEC in the form of liquidity, custody, manipulation, arbitrage etc. are handled properly, the chances of a crypto-focused ETF approval are very low.

Sanctions Are Here!

Recently, the U.S Department of the Treasury’s Office of Foreign Assets Control (OFAC) added two bitcoin addresses in a list termed as Specially Designated Nationals list, as reported by a news source.

Individuals and exchanges are not allowed to send bitcoin to these addresses anymore. These addresses belong to two Iranian residents who allegedly facilitated financial transactions on behalf of the developers of a ransomware.

Individuals or exchanges in the United States or subject to U.S’s jurisdiction may face some kind of secondary sanctions if they try to send bitcoins to these addresses.

With such developments made, it will be interesting to see how illegal activities are eliminated from the crypto scene.

New Crypto Futures?

As reported by CoinDesk, VanEck is partnering up with the well-renowned financial spearhead Nasdaq to develop new crypto related financial products. Gabor Gurbacs, who is the director of digital asset strategy at VanEck, also suggested that the two parties are working on bringing a regulated crypto 2.0 futures-type contract in the market.

What is Up With Civil?

Civil is a blockchain-based project that aims to revolutionize the industry of journalism through the employment of this nascent technology. However, with an ecosystem of journalists formed, the project is still facing troubles. All the journalists who are working at Civil have not yet received their pays, and this has taken the media by storm.

Civil also canceled its public token sale last month. Journalists who were to be paid with CVL cryptocurrency have not received anything as of yet. With so much heat surrounded around it, the project has to do something to prove its credibility to the people.

SEE ALSO: Crypto & Blockchain Recap: 23rd November, 2018

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Ahsan Khalid

News editor of BlockPublisher, an electrical engineer with majors in software development. Ahsan takes the engineer's approach for reporting legislation around the blockchain industry. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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