Here is a collection of the popular stories from the cryptocurrency and blockchain space this week.
Some Companies Prefer ‘DLT’ to ‘Blockchain’: Report
A new research report shows that some companies are dropping the word “Blockchain” altogether saying it is over-hyped, and instead prefer “distributed ledger technology” or DLT. According to Forrester Research’s report titled “Predictions 2019: Distributed Ledger Technology”, many companies are over-hyping the usefulness of blockchain or using the name of the technology to repackage existing services. The report describes the practice as “blockchain washing.”
Taiwan Amends Anti-Money Laundering Laws To Regulate Crypto Transactions
The Taiwanese government made amendments to its anti-money laundering and terrorism financing prevention laws that regulate cryptocurrency transactions, reports said. The Legislative Yuan, Taiwan’s highest legislative body, on Friday amended the Money Laundering Control Act and the Terrorism Financing Prevention Act to give the country’s Financial Supervisory Commission (FSC) the authority to crack down on anonymous virtual currency transactions.
DTCC tests blockchain project with 15 global banks
Depository Trust & Clearing Corporation (DTCC) said it advanced to the testing phase of its ground-breaking project to move its credit derivatives Trade Information Warehouse (TIW) to blockchain platform and cloud. 15 of the world’s largest global banks are participating in the project with DTCC, the premier post-trade market infrastructure for the global financial services industry. U.K.-based Barclays is one of them, while the other 14 banks were not named.
Hublot’s $25,000 Swiss Watch Can Be Bought Only With Bitcoins
LVMH-owned Swiss watchmaker Hublot has unveiled a limited-edition watch, which can be bought only online and with Bitcoins. Celebrating the tenth anniversary of the major cryptocurrency, Hublot’s Big Bang Meca-10 P2P has been launched as a limited edition of 210 timepieces, reminding of the global Bitcoin mining limit of 21 million. The deliveries are expected to start in January.
Texas Issues Cease And Desist Order To 2 Cryptocurrency Mining Firms
Texas Securities Commissioner Travis J. Iles issued emergency cease and desist orders to Quebec, Canada-based EXY Crypto, and AWS Mining PTY Ltd., based in Sydney, Australia. Both entities describe themselves as cryptocurrency mining companies. The companies were found to be aggressively recruiting sales agents through LinkedIn, Facebook, and other online marketing channels.
SEC Charges EtherDelta Founder For Operating Unregistered Exchange
The U.S. Securities and Exchange Commission has issued a cease and desist order against Zachary Coburn, the founder of crypto token trading platform EtherDelta for operating it as an unregistered national securities exchange. The decentralized ER20 token exchange was the leading Ethereum DEX during its peak, executing more than 3.6 million orders over an 18-month period. According to the SEC, many of those orders were for unregistered security tokens.
As of this writing, Bitcoin is down 2.16 percent or $139.94 at $6337.15 . Ethereum is trading down 2.79 percent or $5.99 at $208.72 on Coinbase.
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