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December 8, 2018

CrowdCrypto Newsletter | December 8, 2018

Top Headlines

  • Crypto Crash Puts Startups in Jeopardy
    The continuing crypto crash has placed many crypto startups in jeopardy, as many companies who launched during the boom have suffered immense losses after maintaining portfolios of digital assets even as the crash continued. (Bloomberg)
  • SEC Extends Review Period for First Bitcoin Exchange-Traded Fund
    The SEC has extended the review period for the first bitcoin exchange-traded fund (ETF), with the decision now slated to come in February. Under the rules for approval, the SEC cannot delay their decision any further which means the February decision will either approve or reject the ETF. (Coindesk)
  • Congressman Announces Bill to Create Asset Class for Cryptocurrency
    Congressman Warren Davidson (R-OH) announced plans to introduce a bill that would create an asset class for cryptocurrencies, which then may help the coins avoid being classified as securities. The new asset class would be then be regulated by the federal government with an entirely new set of regulations separate from those used to regulate securities. (CCN)

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Crypto News

  • Coinbase Assembles Team to Develop Decentralized Identity Solutions
    Coinbase has assembled a team to develop opportunities for decentralized identity solutions in attempts to give individuals more power about their online identities. The company is exploring using current product offerings to develop these new technologies. (Coindesk)
  • Nasdaq Soldiers On With Plans to Launch Bitcoin Futures
    Even as the market continues its downslide, Nasdaq is soldiering on with plans to launch Bitcoin Futures in 2019, with Joseph Christinat from Nasdaq’s media team saying “it should launch in the first half of next year – we’re just waiting for the go ahead from the CFTC but there’s been enough work put into this to make that academic”. (Express UK)

International Spotlight

  • ?? Cryptocurrency in South Africa Moves One Step Closer to Legitimacy
    Cryptocurrency in South Africa is moving one step closer to legitimacy, as the South African Reserve Bank and the National Treasury plan to review and overhaul the national payment system to include a more streamlined approach to the transfer of funds between entities and individuals. Proponents of reform hope that with the overhaul comes regulatory certainty. (CCN)

Security Token Corner

  • How to Turn an ICO Into an STO
    How to turn an ICO into an STO? Use one of these popular securities regulations. (like we outlined above), with a Reg A+ offering allowing for companies to raise up to $50M while staying within regulatory bounds. (CryptoSlate)
  • Blockchain Token Association Establishs Common Framework
    Blockchain projects SharesPost, Techemy, tZERO, and the Gibraltar Stock Exchange Group, amongst others, have established a common security token framework, goverened by the Blockchain Token Association. The group of blockchain projects, called the Millbrook Accord, has developed the Verified Token Framework and collaborated on the formation of guidelines with hopes of bringing continued large-scale investors into the security token world. (Cryptovest)

Equity Crowdfunding Spotlight

  • Regulation Crowdfunding is On the Rise!
    October 2018 saw the highest amount of money raised for campaigns since the exemption was launched, coming in at just over $10M for the month and nearly $152M since May 2016. (Crowdfund Insider)
  • Digital Bank Monzo Raises £20M in 3 days
    Digital bank Monzo, lauded as “Britain’s best-rated lender”, raised £20M in just over 2 days on crowdfunding platform Crowdcube. Proponents of raising the max offering amount on Reg CF in the United States continue to point towards the crowdfunding boom in the UK and Australia as evidence the cap needs to be increased. (Crowdfund Insider)
  • Crowdfunding and Crypto
    How the Circle acquisition of SeedInvest may kick off a series of mergers and acquisitions in the crowdfunding world. (London Business School Review)

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