November 12-18 weekly recap

Wilfred Michael 

Wilfred Michael

Reporter

19 November 2018,
10:00
November 12-18 weekly recap

To wrap up this week’s round of news reports, here is a quick review of the biggest headlines around cryptocurrencies, security tokens, and blockchain technology.

 

Iran Plans To Launch Crypto-Rial Following Swift Disconnection

The Islamic nation has stepped up plans to launch a Central Bank-backed Digital Currency (CBDC). Such a cryptocurrency will help the country carry out international trade despite sanctions imposed on it by the U.S. Iran has been cut-off from global financial service, SWIFT because of the sanctions.

 

IMF Pledge To Devote Attention To Blockchain Technology

Deputy General Counsel of the International Monetary Fund, Ross Leckow told an audience at Singapore Fintech Week 2018, that the agency is prioritizing the growth of blockchain technology across several world regions.

 

Ripple Prepares To Fight A Lawsuit In Federal Court

A lawsuit against Ripple by investors for issuing tokens that should be registered with the SEC as security tokens have taken a turn this week. A U.S Federal court will now be called on to make a final decision on the long-standing lawsuit.

 

SEC Annual Report Sets Standard For ICOs

The U.S SEC has started clearing up the regulatory uncertainty surrounding ICOs with an annual report which states which ICO tokens qualified to be labeled as securities. Several charges have been placed on startups prior to the release.