Hodler's Monthly
October 2019
Review of the main news, events and stats of the past month
Educate your friends!
2019
June
July
August
September
October 19
November 19
December 19
January 20
February 20
March 20
April 20
May 20
Libra
Libra
— loses Visa, eBay, PayPal and other key members
US SEC
US SEC
— halts Telegram’s $1.7 billion planned ICO
Milestones & Events
7
October
Oct.
Changelly instant cryptocurrency exchange had realeased a new Android version of its mobile app with fixed rates available as well as its first iOS version
9
October
Oct.
Binance Launches P2P Trading for Chinese Yuan
10
October
Oct.
Alipay to Ban All Bitcoin-Related Transactions
14
October
Oct.
Europol: Crypto-Ransomware Remains Most Prominent Cyber Attack
15
October
Oct.
Libra Association Holds Inaugural Meeting, Forms Board
Oxford English Dictionary Adds ‘Satoshi’ — Bitcoin’s Smallest Unit
18
October
Oct.
Poloniex Spins Out From Circle to Form New Exchange Not Available in US
19
October
Oct.
Bittrex International Halts Service in Venezuela and 30 More Countries
23
October
Oct.
Zuckerberg Visits Congress, Names Libra as Counter to Chinese Digital Currency
25
October
Oct.
Xi Jinping Urges Accelerated Blockchain Technology Adoption in China
26
October
Oct.
Bitcoin Price Soars 42% to $10,500 — Biggest Daily Gain Since 2011
30
October
Oct.
Five European Union Countries Team Up to Block Libra
October market stats
From Coin360
Numbers of the month
$11
trillion
of wealth was transferred via Bitcoin since 2009
6.7%
of all BTC
in circulation is currently held on exchange wallets
15,000
Сrypto
enthusiasts
have joined the Changelly community
3
million
Bitcoins
left to be mined. The total amount of BTC is hard-coded at a limit of 21 million.
Quotes
I’d take the U.S. dollar over any one of your shitcoins.
Nouriel Roubini
Economist
Facebook already filters content [...]. Do we want filtered transactions or freedom?
Warren Davidson
U.S. congressman
If there was a stable, low-volatility, scalable version of Bitcoin that we could use today, my life would be so much simpler.
David Marcus
Head of Calibra
Either I am Satoshi or Satoshi plagiarized me. You can make the choice, I don't really care because he actually took whole paragraphs from my LOM.
Craig Wright
Self-proclaimed Bitcoin inventor
Buzz of the month
The US Securities and Exchange Commission Halts TON Launch Over $1.7B ICO
Around a quarter of that sum, $424.5 million, allegedly belonged to 31 purchasers based in the U.S.
More
In response, Telegram urged the NY District Court to deny the U.S. SEC’s request for a preliminary injunction, arguing that Gram is not a security
NY District Court postponed the hearing regarding the SEC’s injunction filed against TON and its Gram token February, 2020
In letter to investors, Telegram calls February hearings “a positive step” in the process of determining that Gram tokens are not securities
Telegram’s pledge to return investments due to the delay of the launch may be superseded by a “force majeure” clause in its purchase agreement
Adoption & Tech
UNICEF started to accept donations in BTC and ETH
Thus it became the first United Nations organization to hold and make transactions in cryptocurrency, namely Bitcoin (BTC) and Ether (ETH).
Country-level
UAE, Singapore, Congo and more
US Department of Homeland Security Awards $143K Grant to Blockchain Firm
Blockchain Firm Helps Congo Mine Fight Against Blood Diamonds
Æternity Blockchain Brings ‘Liquid Democracy’ to Uruguay
Dubai Unveils Blockchain-Based Business Registry
Swiss National Bank to Research CBDCs at New BIS Innovation Hub Centre
Singapore Shipping Association to Deploy Blockchain for Ship Registration
Thailand Gives Permission to Launch the First Legitimate ICO in the Country
Enterprise-level
Samsung, IBM, Microsoft and more
Rakuten, SBI, Monex Establish Japan Security Token Offering Association
Samsung-Backed Blockchain Firm Launches in UAE After Securing $16M
Samsung Pay Teams Up With RippleNet Member Finablr
Microsoft and Intel Are Backing New System of Reward Tokens
IBM Launches New Blockchain Supply Chain Product
BMW, General Motors, Ford to Start Testing Blockchain Payments in Cars
Opera Becomes First Major Browser to Enable Direct Bitcoin Payments
Major regulation updates
Updates:
Restrictive
Permissive
Drafts:
Restrictive
Permissive
Drafts or updates or both:
BOTH Restrictive and
Permissive
Official Updates:
Restrictive
and
Permissive
Liechtenstein
The Parliament of Liechtenstein approved the Blockchain Act. It aims to improve investor protection, combat money laundering and establish clarity. The new law will enter into force on Jan. 1, 2020.
China (Hong Kong)
Hong Kong's securities regulator has officially released regulations for crypto fund managers. It provides terms and conditions for corporations managing portfolios that invest in digital assets.
U.K.
The United Kingdom’s central bank has established provisions that Facebook’s yet-to-be-released Libra stablecoin must comply with in order to be issued in the country. The document discusses innovative developments in the payments sector, noting that Libra has the potential to become “a systemically important payment system.”
U.S.
The United States Internal Revenue Service has issued guidelines for tax reporting regarding cryptocurrency airdrops and hard forks. The guidance also answers questions regarding cryptocurrency transmissions for investors that hold cryptocurrencies as a capital asset.
China
China passes first-ever crypto law, aiming to set standards for the application of cryptography and the management of passwords. The new regulatory framework establishes the role of a central cryptographic agency meant to lead public cryptographic work, creating guidelines and policies for the industry.
U.S.
The United States IRS has added a question on crypto ownership to the standard 1040 income tax form for the coming tax season. The question expects a straightforward yes or no, with no additional details requested.
G-7
A G-7 task force released a report that says that stablecoins, such as Facebook’s Libra, present significant risk to the global financial system but also have potential in the field of payments. The task force found that thus far, the first wave of cryptocurrencies has failed to provide a reliable and attractive means of payment or store of value.
Germany
The German federal parliament published a statement titled “Crypto tokens are not real money”. According to it, crypto provides only a very limited portion of the features expected of traditional money. The announcement points out that the volume of payments carried out using crypto is limited when compared to fiat currencies and the fluctuations reported by the value render crypto-tokens unsuitable to be a store of value.
Restrictive
U.S.
The United States IRS has added a question on crypto ownership to the standard 1040 income tax form for the coming tax season. The question expects a straightforward yes or no, with no additional details requested.
G-7
A G-7 task force released a report that says that stablecoins, such as Facebook’s Libra, present significant risk to the global financial system but also have potential in the field of payments. The task force found that thus far, the first wave of cryptocurrencies has failed to provide a reliable and attractive means of payment or store of value.
Germany
The German federal parliament published a statement titled “Crypto tokens are not real money”. According to it, crypto provides only a very limited portion of the features expected of traditional money. The announcement points out that the volume of payments carried out using crypto is limited when compared to fiat currencies and the fluctuations reported by the value render crypto-tokens unsuitable to be a store of value.
Permissive
Liechtenstein
The Parliament of Liechtenstein approved the Blockchain Act. It aims to improve investor protection, combat money laundering and establish clarity. The new law will enter into force on Jan. 1, 2020.
China (Hong Kong)
Hong Kong's securities regulator has officially released regulations for crypto fund managers. It provides terms and conditions for corporations managing portfolios that invest in digital assets.
U.K.
The United Kingdom’s central bank has established provisions that Facebook’s yet-to-be-released Libra stablecoin must comply with in order to be issued in the country. The document discusses innovative developments in the payments sector, noting that Libra has the potential to become “a systemically important payment system.”
U.S.
The United States Internal Revenue Service has issued guidelines for tax reporting regarding cryptocurrency airdrops and hard forks. The guidance also answers questions regarding cryptocurrency transmissions for investors that hold cryptocurrencies as a capital asset.
China
China passes first-ever crypto law, aiming to set standards for the application of cryptography and the management of passwords. The new regulatory framework establishes the role of a central cryptographic agency meant to lead public cryptographic work, creating guidelines and policies for the industry.
Drafts and Ideas:
Permissive
U.K. (Wales)
Wales plans to test and subsequently launch its own cryptocurrency to boost the local small and medium enterprise economy. The Welsh government awarded 100,000 British pounds from the 4 million pound Foundational Economy Challenge Fund to develop the system.
United Arab Emirates
The United Arab Emirates’ Securities and Commodities Authority has published draft regulations for crypto assets. It will be collecting public feedback on the drafts before providing the final legislation regarding the industry.
South Korea
The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Under the plan, technologies such as blockchain, big data and AI will be applied to digitize the entire Korean trade finance ecosystem by the year 2021.
U.S.
The United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities. It seeks to regulate stablecoins under the Securities Act of 1933. This entails “amending statutory definitions of the term security” to include the term “managed stablecoins.”
Permissive
U.K. (Wales)
Wales plans to test and subsequently launch its own cryptocurrency to boost the local small and medium enterprise economy. The Welsh government awarded 100,000 British pounds from the 4 million pound Foundational Economy Challenge Fund to develop the system.
United Arab Emirates
The United Arab Emirates’ Securities and Commodities Authority has published draft regulations for crypto assets. It will be collecting public feedback on the drafts before providing the final legislation regarding the industry.
South Korea
The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Under the plan, technologies such as blockchain, big data and AI will be applied to digitize the entire Korean trade finance ecosystem by the year 2021.
U.S.
The United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities. It seeks to regulate stablecoins under the Securities Act of 1933. This entails “amending statutory definitions of the term security” to include the term “managed stablecoins.”
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friends
!
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