Regulatory progress may lay the base for a revival of blockchain-based securities such as tokens and ICOs. According to Aaron Kaplan, the SEC’s strategy to crack down on digital assets and apply the rigor of traditional securities’ regulation to blockchain securities is a welcome move.
He likened it to the days of old when the criminal excesses of “bucket shops” yielded to regulation through securities law.
Founding Duo of Zima Digital Assets Arrested In $7.5M Criminal Complaint. The United States Secret Service arrested John Michael Caruso, 28, of Scottsdale, Arizona, and Zachary Salter, 27, of Paradise Valley, Arizona, on January 30, 2020, for allegedly conspiring to commit wire fraud and for money laundering
ConsenSys will attempt to put the stubbornly traditional municipal bonds market on the blockchain. A previous shy at the task by Neighborly, whose backers included Laurene Powell Jobs, proved stillborn.
ConsenSys will tokenize the $3.8 trillion municipal bonds (munis) market.
Standard Chartered invests an undisclosed amount in Contour.
Contour is a global trade finance platform that runs on R3’s Corda blockchain. It specializes in digitally creating, exchanging, approving, and issuing Letters of Credit (LCs). Last week, Contour announced the success of a series of live pilot tests in 14 countries and a global trial with over 50 banks and corporates.
Covantis is a blockchain-focused project backed by multinational agri-business companies Cargill, Archer Daniels Midland Company, Bunge and Louis Dreyfus Company. Launched in 2018, the project aims to digitize the firms’ global shipping transactions using distributed ledger technology (DLT) and AI.
Covantis and Consensys will set up the blockchain-powered platform. The founding firms have also announced covantis.io, the new website for the project. The platform will launch this year and will initially focus on digitizing grain and oilseed post-trade execution.