November 26 - December 2 Weekly Recap

Wilfred Michael 

Wilfred Michael

News reporter

02 December 2018,
22:00
November 26 - December 2 Weekly Recap

We've come to the end of another busy week for the digital asset industry with one more country, Malaysia, announcing a Q1 2019 target for releasing a regulatory framework for crypto space.

Along with this exciting development, here are the other big headlines we covered this week.

 

Ohio Accept Bitcoin For Taxes

The Ohio State tax department announced earlier this week that businesses can now pay taxes with Bitcoin via ohiocrypto.com

They have become the first State in the U.S to make this move.

 

Uganda To Regulate Cryptocurrencies

Members of the parliament in the African nation have stated that they plan to regulate the emerging industry to protect investors from fraudulent activities. A lack of regulation has increased the number of crypto-related scams in Uganda.

 

Smart Contracts May Not Be SEC Compliant

ICOs could fall further behind regulatory demands following suggestions by a DApp developer that the popular technique of writing smart contracts have a loophole associated with private keys.

 

Almost All ICOs are Non-Compliant - SEC Chairman

In the light of the recent crackdown against ICOs, SEC head Jay Clayton told CNBC reporters that most of the tokens being issued, fall under their classification of “securities”. The hunt will continue.

 

Dubai To Implement STO Regulations By Q1 2019

Security Token Offerings (STOs) will have their own regulatory framework according to Jason King, a managing partner of the Dubai-based firm, Connected Global Strategies (CGS). Early 2019 is the proposed deadline for STO regulation in Dubai.