- SEC releases framework for digital assets
- Turnkey Jet receives first “no action” letter from SEC for its ICO
- Google searches for Bitcoin hit the highest point since November 2018
- Coinsquare to Launched stablecoin pegged to Canadian Dollar
- Binance to set shop in Singapore this week
SEC releases framework for digital assets
Finally, SEC has broken its silence of cryptocurrencies as it released the framework or “Investment Contract” Analysis of Digital Assets, but not many crypto enthusiasts have been happy with it. The document which was expected to provide legally-binding guidance actually tuned out to be only a framework that “represents Staff views and is not a rule, regulation, or statement of the Commission.” The document further effectively walks through the different pieces of the Howey Test and describes how they may apply to cryptocurrencies and initial coin offerings (ICOs).
Turnkey Jet receives first “no action” letter from SEC for its ICO
Turnkey Jet scripts its name in history as it becomes the first to receive a “no action” letter from SEC for its ICO. In the second important news of this week, SEC released a 13-page letter outlining the several points of the business including the token sale details, need for blockchain, and internal analysis of the Howey Test. The letter concluded that they would take no action as long as the company met certain required criteria.
Google searches for Bitcoin hit the highest point since November 2018
Finally, everything seems to have woken up again with the rise of bitcoin. Google Trend data reveals the spike in searches was single-handedly achieved on April 2 when the price of the cryptocurrency surged nearly 20 percent in a single hour to clock $4,961, its highest price since Nov. 19. While Google Trends does not provide the exact number of searches, it is apparent the amount of worldwide “bitcoin” searches reached 90 percent of what it was on Nov. 20
Coinsquare to Launched stablecoin pegged to Canadian Dollar
Stablecoin mania doesn’t seem to be subsiding as now we may soon see a stablecoin pegged to the Canadian dollar. Coinsquare the Canadian crypto exchange has announced that it is launching a stablecoin pegged 1:1 to the Canadian dollar (CAD). The exchange plans potential roles for its new “eCAD” token in cross-border payments and remittance, peer-to-peer lending, merchant payment solutions, as well as trade settlements and forex conversions.
Binance to set shop in Singapore this week
Binance is the progressing to a newer territory and this time in Singapore. This week Binance CEO Changpeng “CZ” Zhao, at the Deconomy event in Seoul, South Korea announced that the exchange is moving to Singapore in April. He also mentioned that It will be the exchanges next Fiat to Crypto exchange servicing $SGD [Singapore dollar].”
A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com