Like Belgium and the rest of the world, Japan has had its fair share of fraudulent cryptocurrency investment schemes in recent times but will move to stop the rise of such projects by amending its laws.
BlockEstate is a US-based private real estate fund issuing private equity in the form of security tokens through our partner Polymath Network based in Toronto Canada. $50 million is being raised on CoinList’s TSM platform for BlockEstate’s Alpha fund to acquire real estate assets with the goal of achieving a net IRR of 12-20%. BlockEstate’s first Alpha fund is designed for international investors (Non-US persons under Reg S) looking to penetrate the US real estate market while mitigating traditional tax burdens. BlockEstate is currently planning a second fund designed for the benefit of US accredited investors.
The recent clampdown on ICOs is not expected to end soon after the U.S SEC Chairman; Jay Clayton told CNBC reporters that the regulators’ definition of Initial Coin Offerings ICOs) remain the same and projects who fail to meet up to their requirements will still be considered “non-compliant.”
The Gibraltar Blockchain Exchange (GBX) a subsidiary of the Gibraltar Stock Exchange (GSX), has been licensed by the Gibraltar Financial Services Commission (GFSC) as a “DLT services provider.
St.market.co Weekly Round Up
A proposed Bitcoin Futures contract by a crypto startup, Bakkt, has been postponed once again according to a notice by the Intercontinental Exchange (ICE), where the offering is expected to be rolled out. Sadly, this is the third postponement since the futures contract was first announced.
Security token offering startup, Blockchain App Factory, has reportedly landed a contract to tokenize real estate assets worth roughly $225 million. The startup revealed that the project belongs to three different real estate companies who are looking to raise funds for their project through the security token offering (STO) model.
Maksim Zaslavskiy, the mastermind behind the first case of fraudulent ICO in the U.S has told a court in the Eastern District of New York (Brooklyn), that he is guilty of the offense.
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.
Anyone thinking that industrial blockchain technology adoption is still going to take a long time must be mistaken according to comments made by Herman Gref, CEO of Russian Bank, Sberbank.
Iran will rely on a new partnership signed with Russian blockchain experts in other to build a strong blockchain and crypto industry.
A crypto exchange called Q Exchange has been marked unsafe by the Thai SEC in a press release dated Tuesday, Nov 13.
An ongoing lawsuit between Ripple Labs and investors who labeled XRP as a ‘security’ token, has been moved to a Federal Court according to reports by a financial news agency, Unbnked.
The Central Bank of Iran (CBI) has increased their efforts to release a state-backed digital currency in the wake of a ban from Global financial messaging service, SWIFT.
The International Monetary Fund (IMF) will continue to keep a close eye on the development of blockchain technology according to Deputy General Counsel, Ross Leckow.
Just like many nations around the world, the central government of Nigeria and the country’s premier bank have not enforced any regulation for the new industry.
Having become one of the first VFA Class 4 licensed crypto exchanges in ‘blockchain island’ Malta, Bitstraq is now eyeing the introduction of a security token trading platform for its clients.
Fake news has been going round in the past 24 hours after a crypto news publication site reported that the Chinese government reversed a crypto ban imposed in 2017. The fake news report has the title - China Lifts Bitcoin Ban; Individuals and Businesses Can Now Own Cryptocurrencies Legally.
The Thailand Securities Exchanges Commission is stepping up plans to unveil at least one “ICO Portal” before the end of this month, and according to a Bangkok Post report, the agency wants to list some ICOs on the portal by December.
Any plans to launch a stablecoin backed 1:1 by the native Russian currency, Ruble, is still only a ‘fantasy’ according to the state Chairman who raised the dust while speaking at a press conference last week. In a more recent update, he shared his thoughts on what could happen if the country decides to create a stablecoin.
The U.S Securities and Exchanges Commission has charged and heavily fined, Zachary Coburn, for setting up a digital trading platform that allows traders to buy and sell tokens that have been marked as 'securities’ by the regulators.
Israel will not be joining the list of countries to issue a Central Bank backed Digital Currency (CBDC), at least not for the meantime. A report released earlier this week by the Bank of Israel warned that a move in that direction should not be made after carefully studying the matter for nearly a year.
Dubai UAE, one of the world’s most developed cities has just welcomed its first cryptocurrency exchange, ten years after the first cryptocurrency bitcoin came around.
The U.S Securities and Exchange Commission (SEC) has never taken it easy with fraudsters who rip unsuspecting investors of their crypto assets and is not planning to slow down their effort anytime soon.
At a time when the crypto markets have begun to flourish again, a big win has been recorded by the new asset class in the off-market.
BBVA Spain, the second-largest bank in the country has successfully tried blockchain technology for a syndicated loan worth $150m according to a Financial Times report. It is the first time that a syndicated loan which usually involves a group of lenders and a borrower is conducted over a blockchain.
The U.S Securities and Exchanges Commission (SEC) has plans in place to solve a common problem faced by crypto startups looking to organise an ICO.
With a global regulatory framework for cryptocurrencies not likely to happen soon, different world jurisdictions have in recent months started to create rules for the emerging industry.
Swiss-based banks who are interested in trading cryptocurrencies have been provided with new guidelines by the Swiss Financial Market Supervisory Authority (FINMA).
The People’s Bank Of China has become aware of the increase in the number of airdrops and will make a move to reduce this trend according to its Financial Stability Report released on Friday. This will be part of recent efforts made by China’s premier bank to crack down on the sale of ICO tokens.
Blockchain has continued to gain new converts every day and the latest of them is in India where oil and gas megabucks company - Reliance Industries, has made a landmark move towards the technology.
The arrest of 11 suspects has now been confirmed by the Cybercrime Department of the Turkish National Police. According to the Turkish Corps who carried out the operations claims that the victims hacked several crypto accounts and made away with Bitcoin with $80,000. The news confirms what earlier reported was on Friday, Nov. 2. By Hürriyet, a major Turkish newspaper.
South Korea based cryptocurrency exchange, Bithumb has signed a new deal with an American Fintech firm, SeriesOne. According to a local news source, the purpose of the new union is to establish an exchange that is dedicated to trading security tokens.
Can anyone stay away from crypto right now? Maybe, but not the researchers at Morgan Stanley who just released an update to a paper titled "Bitcoin Decrypted: A Brief Teach-In and Implications," which they published earlier this year.
Malta's quest to dominate the field of artificial intelligence has been given a huge lift after the government announced that it has set up a new task force for this purpose.
Anyone hoping to see a Bitcoin ETF soon will have to wait until the cryptocurrency industry becomes more 'legitimate’ according to Larry Fink, CEO of investment management firm BlackRock.
The Hong Kong Stock Exchange (HKEX) have joined a list of traditional security exchanges globally who are working toward integrating blockchain technology.
The South American nation has joined the rank of countries to have provided a sort of regulation for the cryptocurrency industry.
The government of India will likely continue its negative stance on cryptocurrencies according to a press release on Tuesday.
The unceasing growth in crypto trading has given rise to many illegal activities like money laundering and high profile hacking of top crypto exchanges around the world. The Chairman of Financial Services Commission South Korea has, yesterday, clarified in a statement that with the support of banking sector the crypto exchanges will never face such issues. Here, it is pertinent to mention that South Korean banks used to open virtual currency accounts that were banned by the financial regulators back in January by introducing strict anti-money laundering rules for crypto exchanges and banks.