Russia’s Central Bank Proposes New Token Framework, But Labels Crypto Transactions ‘Suspicious’

The Central Bank of Russia (CBR) has formally proposed a legal framework for tokenization, but also plans to label cryptocurrency transactions as suspicious activity, it said in a press release Monday. The CBR announced it had successfully piloted a platform that allows users to tokenize assets, including equities and currencies, and issue them to investors. Ivan Zimin, director of the CBR’s financial technology department, said in the release that the bank had now proposed using the platform as a framework in the country’s upcoming cryptocurrency law, which will act as…

Hedera’s Token Price Spikes Prematurely After Google Cloud Joins the Network’s Governing Council

After Hedera Hashgraph announced Google Cloud would be joining its governing council on Tuesday, the price of the network’s native token HBAR rose above 5 cents for the first time since the network’s launch and above 2 cents for the first time in a month. As part of the body of advisers who oversee software changes for the network and ensure the hashgraph’s decentralization, Google Cloud will run a node and make hashgraph analytics available alongside Google’s other public DLT datasets, Google Cloud developer advocate Allen Day wrote in a…

Steemit to Shift Its Proprietary Blockchain and Token to Tron Network

The Tron Foundation, a cryptocurrency firm that is known for hyping its long ledger of partnerships, appears to have entered a particularly important one today. The maintainer of major cryptocurrency Tron (TRX) has just partnered with Steemit, a major blockchain-based blogging and social networking website to provide its network for Steemit services. Steemit old token STEEM to move to the Tron blockchain, too As part of the strategic partnership, the Tron Foundation will work with the firm to move Steemit and other Steem blockchain-based decentralized applications (DApps) to the Tron…

Top Soccer Club FC Barcelona Launching Crypto Token for Fan Engagement

Record-breaking Catalan soccer club FC Barcelona (often called Barça) has launched a crypto token seeking greater engagement with fans. Created in partnership with blockchain firm Chiliz, the Barça Fan Tokens ($BAR) will be used to allow fans to vote in polls and surveys on Chiliz’ mobile app Socios.com. Barça has one of the largest supporter bases globally and is the richest soccer club by revenue. Unusually, it’s in part managed by a group of paying supporters called socios, who take part in elections for the president and the board. The…

Libra Minus Facebook: Why Celo Is 2020’s Buzzy Token Project

Investors from Silicon Valley to Switzerland are whispering about it. The team behind that project, C Labs, is combining the ethereum and Libra models with a $30 million war chest from the likes of Polychain Capital and Andreesen Horowitz (a16z). And with their stablecoins and reserve baskets, the shared backing of a16z isn’t the only similarity between the two projects. “The Celo mobile app, bringing stable payments and remittances to the unbanked, has a chance to bring broad swaths of people to the world of blockchain technology and crypto, but…

Why Security Token Offerings Are a Big Yawn in Parts of Asia

Security token offerings (STO) were supposed to be the next big blockchain-based investment vehicle following the bursting of the initial coin offering (ICO) bubble of 2017. But there have been a number of reasons why this form of equity funding has not lived up to the hype of being a next-generation activity, including regulatory uncertainty and the high cost required to offer an STO. The lack of interest is particularly striking in Thailand and Taiwan, two areas that were among the first to enact STO regulations to encourage the investment.…

SEC ‘Safe Harbor’ Proposal Lauded by Token Fans, DeFi Builders at 0x Conference

The token industry is applauding SEC Commissioner Hester Peirce’s “Safe Harbor” proposal, calling it a mature response to the 2017 ICO bubble. Announced the day before decentralized finance (DeFi) protocol 0x’s 0xpo conference last Friday in San Francisco, founders, lawyers and tokenization fanatics of all stripes said the proposal a boon for both entrepreneurs and investors in the nascent tokenization industry. And what better a place to ponder the news: an event dedicated to the permissionless exchange of digital assets with a deep roster of ethereum veterans in attendance. Add…

New ‘TRUMP’ Token Giving 62% Odds of US President’s Reelection

U.S. President Donald Trump tweeted last year he isn’t a huge fan of bitcoin (BTC) and other cryptocurrencies.  They’re “not money,” he wrote in July, saying their value is “highly volatile and based on thin air.” Now, crypto traders outside the U.S. can make their feelings known – and perhaps some money – on the 45th U.S. president. This week a digital token, Trump 2020 with the symbol TRUMP, launched courtesy of cryptocurrency exchange FTX. FTX says the new token will work like a futures contract, allowing traders to take…

Now More Than Ever, SEC Is Scrutinizing Unregistered Token Offerings

News about initial coin offerings (ICOs) is back with a vengeance. Only this time, it’s not about how much money there is to be raised, but how much money there is to be paid back. In January, two new ICOs completed in 2018 were charged by the U.S. Securities and Exchange Commission (SEC) with fraudulent sales of unregistered digital asset securities. The individuals and entities charged in these cases are still awaiting a final judgment and fine. However, in both cases, the SEC has recommended all funds raised by the…

SEC’s Cryptomom Proposes Safe Harbor Framework for Token Projects

United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce has formally proposed safe harbor for token projects. After initially floating the idea in August 2019, Peirce has now formally presented a regulatory vision that would create a safe harbor for projects that raise funds to build decentralized networks. Peirce proposes to provide decentralized network developers with a three-year grace period Speaking at the International Blockchain Congress in Chicago on Feb. 6, Peirce, also known as SEC’s “Crypto Mom,” has outlined her token safe harbor proposal. The proposal would grant…