Ico

Square Traded $34.1M in Bitcoin in Its First 4 Months

Data from the company, which it published this week, shows its Cash app shifting $34.1 million in BTC, having spent $33.9 million purchasing the cryptocurrency to begin its offering.

The figures make interesting reading in the year when the cryptocurrency exchange sector has become renowned for its ability to generate huge profits from trading fees.

From South Korea, where regulators have demanded backdated tax payments from exchanges that raked in hundreds of millions of dollars since 2017, to Binance’s $200 million gains in Q1 this year, businesses are capitalizing on user thirst for crypto.

Square’s setup remains relatively small-scale, the Cash app holding client funds on their behalf and only permitting $10,000 of purchases per user per week.



Issuing An ICO In The US? —One Company’s Experience |

If you’ve been reading the crypto news lately, you might have seen that ICOs are getting some bad press in the US, with many people, including regulators, considering them potentially illegal securities and exposing them to heavy scrutiny from regulators.

In a prepared statement to Congress on February 6, 2018, SEC Chairman Jay Clayton said “When investors are offered and sold securities — which to date ICOs have largely been — they are entitled to the benefits of state and federal securities laws and sellers and other market participants must follow these laws.” Strong words from the head of the worlds most influential securities regulatory body.

You might be considering creating your own ICO. Perhaps you have an idea for an innovative blockchain application, or are intrigued by a Kickstarter-like alternative to raise money for your company and / or project. Maybe you’ve heard that raising an ICO is a path to easy money. While this might have previously been the case, if you are based in the US and want to follow all applicable laws, it’s now a much more difficult journey. But it is possible. In the spirit of open source code that is the foundation of blockchain technology, we figured we would share some of our observations and experiences with the world.


Blockchain regulatory view from within China –

Huo Xuewen, director of Beijing Municipal Bureau of Financial Work has fired 9 acute questions toward Bitcoin, blockchain and ICO in a Fintech meetup recently. He tried to explore the fundamentals and values of this technology.

Mr. Huo said that now that investors care only for making profits in ICO and nobody cares about the values behind this innovative mechanism. And since most of the trades of cryptocurrency rely on centralized exchanges, the digital assets are still threatened by traditional risks.





Crypto Exchange Bittrex: We’re Compliant With SEC’s ICO Rules

S-based cryptocurrency exchange Bittrex says that it is compliant with federal regulations governing securities trading.

The exchange, which is headquartered in Seattle, issued a statement on Wednesday assuring its customers that its token review process is compliant with rules that prohibit companies from creating trading markets for unregistered securities.

Bittrex said:

“As a U.S.-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities.”

The statement was a direct response to an announcement published by the Securities and Exchange Commission (SEC) — also released on Wednesday — that warned it is “potentially unlawful” for cryptocurrency exchanges to list initial coin offering (ICO) tokens, as the agency deems many of these ICOs to be unregistered securities offerings.


Ol’ Dirty Bastard estate is launching an ICO

Wu-Tang Clan rapper Ol’ Dirty Bastard, who died in 2004, is getting into the cryptocurrency game.

The late rapper’s estate is launching a utility token called Dirty Coin to fund music projects and other ventures.

Why, exactly? It’s simple, says the late legend’s son Bar-Sun Jones, aka Young Dirty Bastard: “Crypto is very big. The blockchain is one of the biggest inventions of our time. And I don’t want to be out of the party, I want to come in to the party.”

Indeed, if cryptocurrency was an underground basement party up until 2017, the recent price surge of bitcoin, litecoin, ether, and ripple turned it into a raucous house party. Celebrities, athletes, and artists like Paris Hilton, Floyd Mayweather, Richard Sherman, Jamie Foxx, The Game, and Wu-Tang rapper Ghostface Killah have rushed in.