Opinions

Crypto & Blockchain Recap: November 30th, 2018

Here’s your quick-fire recap of all the recent happenings of the crypto and blockchain world.

ICOs & Celebrities

Two of the most well-renowned celebrities of the world DJ Khaled and Floyd Mayweather were recently fined by a regulatory body, United States Securities and Exchange Commission (SEC), for promoting initial coin offerings without disclosing the compensation, as reported by Coindesk.

Celebrities were involved in promoting Centra Tech through their social media, whereas Floyd also brought Stox and Hubii Network into the circle.

According to the regulatory rules, it is not legal to endorse investment products without the disclosure of compensation.

DJ Khaled will now pay more than $150,000 and Floyd is expected to pay more than $600,000. The two are now also banned from promoting securities products in the future for quite some time.

The Iranian Frenzy

In a rather short time after the announcement made by the U.S. Treasury Department’s Office of Foreign Assets Control that it has added two bitcoin addresses linked to two Iranian residents to its sanctions list, people in the country of Iran are starting to get affected.

Talking to a news source, the residents of the country claimed that they were facing difficulties in conducting lawful transactions. They claimed that they were facing difficulties in accessing ShapeShift, a cryptocurrency exchange.

The issue of avoiding the bitcoins processed by the accused has also come under the microscope.

Ethereum 1x

Talks regarding the hyped ethereum network update termed as ‘ethereum 1x’ have been floating around in the crypto space with much intensity. This upgrade aims at improving the usability of the third-largest blockchain platform of the world as per CoinMarketCap.

The exact code changes that are to be made in the network are not fully settled as of yet, but as suggested by some discussions, a plethora of code changes might be activated by June of 2019. The final proposals have to be formulated, proposed and approved by the user of the ethereum network, as there is no single central party in control pivoting the direction of the platform.

See Also: “Having a Single Chain That Needs to Have All Transactions is a Design That Just Cant Scale”, Says Founder Komodo (KMD)

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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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