Blockchain Market Update – January 11, 2019

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January 11, 2019 by
Blockchain Market Update – January 11, 2019

New York: NYC Economic Development Corp opened a 4,000-sq-foot Blockchain Center on Jan. 10. Located in Flatiron district in downtown Manhattan, it joins other crypto and tech startups that populate New York’s Silicon Alley tech hub, Manhattan’s smaller version of California’s Silicon Valley. Center will offer coding classes and lectures to promote awareness and adoption of blockchain—Project Development

ChinaChinese blockchain platforms will have to censor content and allow authorities access to stored data and check identity of users under rules set by Cyberspace Administration of China in “Regulations on the Management of Blockchain Information Services” released Jan. 10 in Beijing. The regulations, effective Feb. 15, will “advance industry’s healthy and orderly development,” requiring blockchain information service providers to register in filing management system of CAC within 10 days from date when it started providing services. Companies found to be in violation of rules subject to fines or prosecution—Regulation

Bitwise: Crypto startup plans to launch physically settled Bitcoin ETF, filing an initial registration form proposing Bitwise Bitcoin ETF Trust with SEC. Fund will track Bitwise Bitcoin Total Return Index, which tracks BTC and meaningful hard forks. If approved, NYSE Arca, which focuses on trading stocks and options, will list shares of ETF—Project Development

DX.ExchangeSecurity token trading platform says it has patched security vulnerability that allowed anyone to access user authentication tokens, attributing bug to an authentication token error. They say the issue was resolved before any damage could occur—Exchange

Russia: Vyacheslav Volodin, chairman of lower chamber of Russian parliament, mentions digital economy bills are currently being considered in parliament’s spring session, including ones on digital financial assets, digital rights and crowdfunding. Volodin urges lawmakers to create favorable legal environment for development of digital economy in Russia. To this end, he recommends creating working groups of experts, entrepreneurs and researchers to speed up development of digital economy-related laws. Parliament is set to present more than 20 new draft bills related to the digital economy in near future—Regulation

SharesPost: A registered broker dealer, Alternative Trading System, and registered investment advisor says it executed its first secondary transaction using BCAP tokens issued by Blockchain Capital. BCAP tokens, which run on Ethereum blockchain, represent shares in Blockchain Capital III Digital Liquid Venture Fund. To their knowledge, this is the first trade of digital securities by an ATS and broker dealer in which the ATS custodied digital securities. They hope that this clears path for companies to do compliant STO’s in U.S. and provide investors with secondary liquidity—Project Development

South KoreaPublished report showing Seoul gov’t plans to invest 60B won ($53.65M) in blockchain and financial technology center in Mapo area of Seoul to help 272 startups. Mapo area will work with Seoul Youth Innovation City and Seoul Incubation Center, and is expected to train 100 entrepreneurs and 1,000 professional staff by 2022, in addition to providing enterprises with up to 2 years free rent. They will form the Seoul Blockchain Industry Development Committee—Regulation

Crypto Dusting Attacks: DarkReading, cyber security news aggregator, describes an attack that distributes illegally obtained funds from unknown source into wallets of innocent crypto holders. These funds are usually sent to random addresses through use of coin mixers, and make it difficult for law enforcement to follow malicious actors‘ tracks—Other

Terra: Blockchain company building payment system powered by its price-stable cryptocurrency announced partnership with Mongolia’s capital city of Ulaanbaatar to utilize its blockchain technology and change how Mongolian citizens pay for goods and services. Terra’s payment solution will first launch in Ulaanbaatar City’s Nalaikh District through a pilot program, with plans to expand citywide—Project Development

BitmainSet to name new CEO for firm. Though yet to make official announcements, current product engineering director Wang Haichao is likely successor. Reportedly has already taken over responsibilities from current co-CEOs, Wu Jihan and Micree Zhan, as transition already started in December—Project Development

Huobi GroupHuobi’s EOS-dedicated exchange enters final test phase and is slated to launch within one week—Project Development

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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