Cat Digital Assets

Digital Assets

Digital assets are about more than just Bitcoin. The global adoption of blockchain, expansion of cross-border payments, new investment vehicles tied to intellectual property, and more, could one day establish a global market of digitized assets worth $50 trillion. This channel provides access to the latest developments, opportunities, risks, and thought leaders in the growing Digital Assets space.

Top Story

Digital Assets: Iran Cracks Down On Illegal Crypto Miners

January 19, 2021

Iran, which is facing severe energy shortages during the cold months, has been forced to implement rolling power cuts across the nation. In these circumstances, in a sudden action, police seized 45,000 bitcoin mining rigs on the charge of illegally drawing and consuming subsidized power.


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More Stories on Digital Assets

Digital Assets: Jay Clayton – SEC Hastens Slowly on Digital Assets

December 12, 2019

Jay Clayton said in testimony to the Senate that the SEC was taking a measured approach to regulation of digital assets.
Jay Clayton was very positive on the prospects of distributed ledger technology, or the blockchain, in his testimony to the Senate. He also stated that the SEC was a “measured approach” to regulation of digital assets.

Digital Assets: Its Halving in 2020 Could Boost Bitcoin to $50,000

December 12, 2019

Bitcoin’s halving in April/May 2020 could trigger a bull run in the cryptocurrency.
At least two analysts say that bitcoin’s halving in 2020 could eventually lead to prices in the range of $ 50,000.

Three Men Netted in $722 Million Crypto Mining Fraud

December 11, 2019

A 5-man team conned investors in a crypto-mining based Ponzi scheme.
According to US Attorney Craig Carpenito, two men from Colorado and a third from California were arrested on Tuesday for the crypto mining fraud. The other two are still absconding.
Matthew Brent Goettsche, 37, of Lafayette, Jobadiah Sinclair Weeks, 38, of Arvada, and Joseph Frank Abel, 49, of Camarillo, California, will face charges. These include conspiracy to commit wire fraud as well as conspiracy to offer and sell unregistered securities.

Digital Assets: The SEC Thaws; Approves Bitcoin Futures Fund

December 10, 2019

In what Commissioner Hester Peircetook hailed as “a bit of progress,” the SEC cleared the decks for the launch of a bitcoin futures fund.
The SEC last week approved the launch of the futures-based NYDIG Bitcoin Strategy Fund. The regulator cleared the Form N-2 filed by Stone Ridge Trust VI on October 2 with amendments on October 16 and November 26.

Hacker Uses Ingenious MO to Siphon $1M from VC Firm

December 9, 2019

Security researchers at cybersecurity firm Check Point relate how Chinese hackers hijacked $1 million of seed money that was supposed to travel from a Chinese venture capital firm to an Israeli startup. A “Man-in-the-Middle” attack, spoofed emails, bogus domains, lots of planning, plenty of patience, and bingo!

Global Blockchain Business Council: Asset Managers Still Don’t Get Blockchain

December 6, 2019

The Global Blockchain Business Council and Janus Henderson Investors have released a new survey this week. The two firms reveal that executives at asset management firms still struggle to understand blockchain technology. The groups interviewed 50 buy-side organizations. From that survey, just 24% of respondents stated that they had an above-average knowledge of blockchain technology. 

HSBC World Bank Taps Blockchain to Transfer $20 billion in Digital Assets

December 2, 2019

HSBC World Bank will track $20 billion in digital assets on a blockchain storage platform in 2020. The company plans to initiate the platform Digital Vault by March.

CipherTrace Q3 2019 Cryptocurrency Anti-Money Laundering Report Takeaways

November 29, 2019

CipherTrace has released its Q3 2019 Cryptocurrency Anti-Money Laundering (AML) Report. Here are the key takeaways from this quarter’s report.

Digital Assets: A $200 Million Warchest to Spur Bitcoin Cash (BCH) Acceptance

November 26, 2019

Bitcoin Cash (BCH) is the spin-off from the original Bitcoin (BTC) due to a hard fork in August 2017. The crypto offshoot is technologically faster with a “lighter blockweight.” Unfortunately, the use of Bitcoin Cash in transactions and eCommerce has been flagging, though it is fourth in the cryptoassets pecking order by size. But help may be at hand from Roger Ver, often referred to as the Father of Bitcoin Cash, even “Bitcoin Jesus.”

JP Morgan Will Use Blockchain to Monitor Dealers’ Financed Car Inventory

November 25, 2019

Error (or fraud-) prone recording of auto inventory will be a thing of the past after JP Morgan implements blockchain.
Wholesale car financing at JP Morgan will get a lot easier after the bank puts auto dealers’ floorplan lending onto a distributed ledger, or private blockchain.
Floorplan lending refers to the revolving line of credit provided by a bank against the collateral of vehicles forming a dealer’s unsold inventory.

Peter Brandt: Bitcoin Could Hit $5,500 in 2020

November 25, 2019

Peter Brandt, the Factor LLC CEO, said that Bitcoin could drop to $5,500 before it shows a recovery. In a Tweet sent on November 21, Brandt set his floor price for the world’s largest cryptocurrency.

Bitcoin Plunges to Sub-$7000 Levels Before Recovering

November 22, 2019

Bitcoin plummeted today after back-to-back crackdowns on virtual currencies by the Chinese Government. Yesterday, regulators in Shenzen, and today, in Shanghai, threatened to crack down on alleged illegal activities. The PBoC was reportedly behind both campaigns and seeking to impose a ban on trading in cryptocurrencies.

A UK Legal Task Force Clarifies on Cryptoassets and Smart Contracts

November 22, 2019

A UK Jurisdiction Task Force has issued a legal statement on cryptoassets and smart contracts.
Issued under the aegis of the Law Tech Delivery Panel, the document is a result of the consultative process that commenced in May 2019. Its object was to clarify the status of crypto assets, distributed ledger technology, and smart contracts in English private law.

AWS Killer? Blockchain-Based Cloud Storage in a P2P Architecture

November 21, 2019

Storj Labs’ beta storage service announced its Beta2 launch and the pricing thereof. The Tardigrade Decentralized Cloud Storage Service claims it costs less than half of legacy cloud storage providers.

Grayscale Bitcoin Trust to Add SEC Legitimacy: Files Form 10 (It’s Not an ETF)

November 21, 2019

In another first, the Grayscale Bitcoin Trust files a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC). If the SEC accepts the application, Grayscale Bitcoin Trust will be subject to various reporting obligations under the Exchange Act. These include filing annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The current 12 months compulsory holding period for private placement investors will reduce to 6 months.

Fidelity Digital Assets Secures New York State License

November 20, 2019

Fidelity Digital Assets received a license from the New York State Department of Financial Services. The state regulator provided permission for the crypto-arm of Fidelity Investments to offer new services.  

There’s Hope Still for a Bitcoin ETF; SEC Reviewing Bitwise Rejection

November 19, 2019

The SEC is revisiting its rejection last month of the proposal from Bitwise Asset Management for a Bitcoin ETF.
In a document published on November 18, 2019, the United States SEC said it would review the ETF application filed by Bitwise Asset Management and NYSE Arca.

Private Equity Shop Ethos Capital Buys the .Org Domain Registry

November 19, 2019

Ethos Capital has purchased the Public Internet Registry, the group that maintains the .org registry. The private equity firm purchased the registry from the Internet society, according to a statement this week. The deal marks the end of nearly two decades of control by the Internet Society. 

Fundstrat’s Lee: Bitcoin ETF Workable Only at $150,000

November 18, 2019

Fundstrat’s Tom Lee, a Bitcoin perma-bull, says the crypto would have to rise to $150,000 to support ETF-like volumes.
ETF-wishers should, therefore, pray for Bitcoin to rise nearly 18 times from its current price of $8490, if Tom Lee’s prediction is to come true.
That’s a tall order, even for the medium-term.

Walmart Canada To Roll Out World’s Largest Blockchain For An Industrial Application

November 18, 2019

Walmart Canada and blockchain company DLT Labs collaborated to develop the retail giant’s automated freight tracking and payments system.
The new blockchain-based logistics system will use distributed ledger technology. It will track deliveries, verify transactions, and automate payments and reconciliation for the vast logistics of Walmart Canada.

U.S. National Debt Not Good for Our Kids and Grandkids (Powell); Would Bitcoin Be?

November 15, 2019

In what should be a wake-up call to the powers-that-be, Federal Reserve Chair Powell warns of unsustainable US national debt.
Speaking during testimony before the Congress’ Joint Economic Committee on Nov. 13, Powell talked of the growing US debt pile. Warning that the growth in debt was outstripping that of growth in GDP, Powell said the issue must be addressed at some point in time. Should we prepare for imploding fiat money by investing in bitcoin?

Paypal Blocks Payments to PornHub Models; Cryptos See Opportunity

November 14, 2019

Pornhub is up in arms against PayPal for suddenly blocking payments to its 100,000 models.
“We are all devastated by PayPal’s decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods,” said a notice today on Pornhub.
It appears PayPal has assigned no reason for suddenly getting religion on the subject of model payouts.

New Swiss Regulated Bank is a Bridge Between Traditional Banking and Crypto

November 13, 2019

Switzerland -headquartered SEBA Bank AG became fully operational on Tuesday and started taking on Swiss customers. It received a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) in August. It lets clients seamlessly convert between the crypto and banking worlds.

With Tencent Backing It, a Virtual Blockchain Bank May Launch Sooner Than You Think

November 11, 2019

The Hong Kong Monetary Authority has approved the issue of a banking license for a virtual bank to Tencent.
Hong Kong has been quick off the mark to give digital banks the go-ahead. The HKMA has approved licenses so far to eight out of 29 applicants who applied by September 2018. Tencent is the first to propose a blockchain bank.