Just found really simple and clear review of such things as:
- Bitcoin, Ethereum, Litecoin;
- Smart contracts;
- Fees, Miners, Supply, Hashrate.
and many other fundamental crypto topics.

Enjoy "Cryptocurrency in a nutshell"
https://medium.com/cryptolinks/cryptocurrency-in-a-nutshell-4ad5de1bd36e

[Copyright on Blockchain, Explained]

Copyright on Blockchain, Explained

1. Can someone post one of my photos or illustrations on blockchain without permission?

Not right now… but this could change in the future.

The reason why it isn’t possible at the moment is merely technical. Scaling problems (something we’ve reported extensively on at Cointelegraph) mean there’s a limit to the amount of data that can be processed in a single block. As a result, blockchain isn’t incredibly compatible with images in its current form.

However, if and when these problems are resolved, it could become a reality. And although there are several blockchain platforms out there which aim to provide an immutable record of who owns an image, and where it has been used, there’s nothing stopping someone from claiming they own the rights to one of your artistic masterpieces – or a selfie you took on holiday.

This could pave the way for someone to make a pretty penny off your hard work, especially if a platform’s verification process is wanting. It can be difficult to prove ownership of an image, and if you disagree with the way it has been recorded in a blockchain, there might be no one there who you can raise a dispute with. Taking a legal route to claim you hold the rights to an image on blockchain may also be near impossible – especially considering the courts are almost always behind the curve when it comes to technology.

2. What are the laws outside of blockchain?

It varies from country to country – but generally, copyright protection is granted automatically.

In the UK, for example, this means that any artworks, illustrations or pictures you take are protected by copyright instantly – without cost. It prohibits others from copying them, distributing copies of them or putting it on the internet, but the law doesn’t currently mention the ramifications when it comes to blockchain.

There are also treaties governing copyright which have an international reach. The Berne Convention, created back in 1866, has been adopted by dozens of countries around the world. It means a copyrighted photo in Afghanistan can enjoy the same protections in Australia. Three basic principles govern the convention – including the notion that works protected in one member state must be given identical protections by all others.

3. How could copyright be officially applied within blockchain?

Well, we may see governments around the world adopt this technology for themselves.

Tonya M. Evans, a US-based lawyer who specializes in intellectual property, recently wrote about how some administrations are “quietly exploring how to implement blockchain technology for their copyright registration systems.” Indeed, she cited an article from Iran’s Financial Tribune which reported on Tehran’s plans to move its infrastructure to blockchain. It has forged a deal to build a new system with a specialist company, and hopes the procedure will be “fast and user-friendly.”

4. Could industry bodies also get involved?

Major players in music, photography and literature are also starting to devise their own solutions with the hope of becoming market leaders.

Among them is Kodak, which has licensed its brand to Wenn Digital, the developer of a blockchain-based image rights platform.

KODAKOne hopes to speed up payments for those who want to purchase professional images – and help photographers detect infringements quickly and recover the fees they are owed. Its web crawler technology scours millions of websites to detect how pictures are being used, and provides “simplified legal proceedings” to ensure copyright owners get the compensation and recognition they deserve.

Blockchain is also addressing fragmentation in the way copyright across the music industry is recorded. As reported by Cointelegraph, information relating to compositions and songs is scattered across 5,000 databases. Dozens of companies – including major streaming services and record labels – have signed up to be part of a blockchain-based, universal rights registry called the Open Music Initiative, which no one controls but everyone contributes to. Following a significant upheaval in the way the music industry works – with streaming threatening sales and live shows becoming ever more crucial – the scheme hopes to bring about “sustainable business models for artists, entrepreneurs and music businesses alike.”

5. What’s the deal with my social media posts? Are they copyrighted?

Again, the waters are murky here – even the World Intellectual Property Organization (WIPO) is vague on some of the details.

When it comes to tweets, WIPO says that, in actuality, some of them may be too short to qualify for the copyright protection usually enjoyed by authors. Why, you may ask? Because their short length means that they are “unlikely to reach the level of creativity required.” Of course, comedians creating witty one liners may beg to differ here – especially when so many of them have their content ripped off by other accounts, which pass off the content as their own without a credit. That said, there can be exceptions. A WIPO article back from 2009 cites experts as saying that a collection of tweets may be eligible to be copyrighted, which is pretty pertinent in light of longer character allowances and the popularity of threads, where posts are joined together.

You may think that you would be the exclusive holder of copyright to the content you post on other social media platforms, but WIPO says that it’s always worth reading the small print. In the past, if you uploaded photos to Facebook or videos to YouTube, they reserved the right to use the content you post. That said, on the bright side, both platforms offer mechanisms where posts that rip off your content can be taken down.

The dynamics of copyright on social media are ever changing. Recently, the EU voted in favour of two controversial provisions set out in a new copyright directive. Article 11 means tech giants such as Facebook and Google, as well as aggregator sites, would need to pay news outlets whenever they link to their stories or share excerpts of their articles. Meanwhile, Article 13 would mean video-sharing sites need to obtain licenses to show music videos, in the hope this would improve remuneration for artists.

6. Are there any exceptions to copyright rules?

This varies from country to country.

For example, in the UK, the principle of “fair dealing” means small excerpts of a copyrighted work can be used for the purposes of studying, news reporting and teaching. The European Copyright Directive goes further, as it enables you to satirize copyrighted works and use brief clips of TV shows or songs for parodies.

Meanwhile, halfway across the world in New Zealand, there is no exemption for comedy and satire – something which has frustrated comedians and content creators.

MyCryptons, a blockchain-based platform where users can buy and sell digital collectibles, is one site which benefits from the common exemption of parody and satire when it comes to copyright. It offers collectibles based on public figures – including politicians, talk show hosts and musicians – along with a distinctive illustration, sometimes with exaggerated features for comic effect.

Source: https://cointelegraph.com/explained/copyright-on-blockchain-explained

[Crypto Exchange Bittrex Invests 10 Percent Stake in Malta-Based Blockchain Firm Palladium]

Crypto Exchange Bittrex Invests 10 Percent Stake in Malta-Based Blockchain Firm Palladium

Bittrex, one of the top cryptocurrency exchanges worldwide, has recently invested in Malta-based blockchain company Palladium, local news outlet Times of Malta reports September 2.

The U.S.-based Bittrex, now the 18th top crypto exchange by total average trade volume, has bought a 10 percent share in Palladium. In July, Palladium had announced plans to distribute $150 million in tokens in the world’s “first” Initial Convertible Coin Offering (ICCO) in partnership with Bittrex and Unikrn eSports bookmaker, scheduled to begin on July 25.

Current shareholders of Palladium include Investar Holding and Unikrn, which own 85 and 15 percent of the company respectively, the Times of Malta reports.

Palladium is reportedly planning to become the “first regulated unified platform” for fiat money, banking, and crypto exchanges, enabling clients to manage crypto purchases and bill payments, as well as swapping crypto assets via one single platform, the company’s July Medium announcement noted.

The ICCO is approved by the Malta Financial Services Authority (MFSA), and the project is regulated under European Union rules, Bittrex’s July announcement stated.

The difference between an ICCO and Initial Coin Offering (ICO) is that investors will be able to convert tokens into company shares on a specific later date. In case of Palladium, the investors will be able to convert the tokens in the company’s shares three years after the issue date, Cointelegraph reported.

Palladium’s founder and chairman Paolo Catalfamo commented that Bittrex’s recent investment is a proof of Malta’s focus to become the “forefront of regulating blockchain technology,” the Times of Malta writes.

The Bittrex crypto exchange recently became one of the participants of “Virtual Commodity Association Working Group” — the self-regulatory association for digital commodities like cryptocurrencies. The organization is planning to develop industry standards and to “be a precursor to the formation” of self-regulatory activity for cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Earlier in August, Bittrex had also partnered with Ripple in order to provide a “healthy” ecosystem of digital asset exchanges, along with crypto exchanges Bitso and Coins.Ph.

https://cointelegraph.com/news/crypto-exchange-bittrex-invests-10-percent-stake-in-malta-based-blockchain-firm-palladium

[Yahoo Finance Integrates Bitcoin, Ethereum and Litecoin Trading]

Yahoo Finance Integrates Bitcoin, Ethereum and Litecoin Trading

Yahoo Finance has integrated trading with Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) on its platform.



While statistics are available on the platform for other digital currencies like Bitcoin Cash (BCH), Ethereum Classic (ETC) or EOS, they currently do not have buy and sell options.

The development has led some in the crypto community to say that it is an important step forward for crypto adoption. Crypto enthusiast and founder of Morgan Creek Digital, Anthony Pompliano tweeted:

BTC continues to trade near the $7,000 price point, according to Cointelegraph’s Bitcoin price index, after it broke through the $7,000 threshold on August 28. At press time, the leading cryptocurrency is trading around $7,043.

ETH is trading around $290 at press time, down 1.36 percent over the last 24 hours, seeing negligible price change on the day. Yesterday, August 28, ETH saw the first major upswing in price performance after a faltering week range bound between $270-280.

LTC is currently trading around $62, down 1.74 percent on the day, according to Coinmarketcap. The total market capitalization of the altcoin is nearly $3.6 billion, while its trading volume over the past 24 hours totalled around $222 million.

In March, the Japanese arm of internet giant Yahoo said it will open a cryptocurrency exchange “in April 2019 or later.”  Yahoo Japan was going to buy 40 percent of BitARG Exchange Tokyo in April, and immediately dispatch executives to lay the foundations for the exchange to launch a year later.

Source: https://cointelegraph.com/news/yahoo-finance-integrates-bitcoin-ethereum-and-litecoin-trading

[JPMorgan’s Balancing Act Between Blockchain and Crypto]

JPMorgan’s Balancing Act Between Blockchain and Crypto

Multinational investment bank JPMorgan Chase has had a chequered relationship with cryptocurrencies over the years. While it has maintained an apparent apathy toward Bitcoin and the likes, the financial institution has openly embraced blockchain technology and is actively using it in various internal projects.

This has come to the fore in August 2018, as chief information officer Lori Beer made a bold statement in an interview, claiming that blockchain technology ‘will replace’ existing financial systems in the next few years.

Beer’s sentiments come at an interesting time, especially considering JPMorgan’s yin-and-yang attitude towards decentralized ledger technology (DLT).

Blockchain technology underpins the existence of cryptocurrencies, which have multiplied in number and applications since Bitcoin was birthed in 2009. Therefore, it is worth taking a trip down memory lane to understand the juxtaposition between the company’s attitude toward cryptocurrencies and blockchain technology.

JPMorgan’s love/hate relationship with crypto

As has been the case with most financial institutions, the emergence of cryptocurrencies has been met with a certain element of trepidation. Some have been more accepting than others, but JPMorgan has had one of the more interesting stories to tell.

The company hasn’t been overly opposed to the notion of cryptocurrencies, but its leadership — CEO Jamie Dimon, in particular — has been nothing short of hypercritical over the past few years. As we will delve into, this has caused a contrasting narrative in terms of the company’s projects and exploits in the space when compared with the opinions of Dimon.

Quorum

In November 2016, JPMorgan published a white paper for Quorum, which is a private blockchain platform built on the Ethereum protocol.  

As a founding member of the Enterprise Ethereum Alliance (EEA), JPMorgan’s development of Quorum is aligned with the mandate of the EEA, which aims to bring privacy, scalability and security to the Ethereum blockchain. This is directly aimed at enterprises that want to control the accessibility and use of data through a blockchain system.

Quorum’s blockchain looks to provide data privacy to companies, using the Ethereum network to validate transactions, which was described in the opening paragraph of the white paper:

   “Though the design is simple, the solution preserves many of the key attributes of Ethereum, such as ensuring every node on the network participates in and increases the overall security of the entire network while only revealing the details of private transactions to those party to the transaction.”

Quorum uses cryptography to protect sensitive data, only allowing those with the necessary permission to access certain transaction data.

Almost a year-and-a-half later, on April 20, 2018, JPMorgan finally tested the Quorum blockchain with a number of high-profile banks participating.

JPMorgan is even considering divorcing Quorum from the company, in an effort to make the platform more accessible to the markets. A barrier to entry is the fact that market competitors are unlikely to use a platform that is run by a competitor bank.

Topsy-turvy 2018

As cryptocurrencies endured a humbling correction in the months after Bitcoin’s all-time high in December 2017, JPMorgan — among other banks — stopped processing cryptocurrency purchases with its credit cards, citing the volatility of the markets.

By the end of February, the bank delivered its annual report to the U.S. Securities and Exchange Commission (SEC). The report added cryptocurrencies to its sections on 'Risk Factors' and 'Competition,' illustrating the disruptive aspects of the space.

The company told the SEC that the emergence of cryptocurrencies would require the bank to spend more money adapting its products to appease clients and customers, with the possibility of the bank eventually losing market share:

   “Both financial institutions and their non-banking competitors face the risk that payment processing and other services could be disrupted by technologies, such as cryptocurrencies, that require no intermediation.”

In May 2018, the company announced the creation of the position of a head of crypto assets strategy at the company. The post was immediately filled, with Oliver Harris the man in charge of leading the company’s new cryptocurrency projects. It is understood that Harris’ position would not involve the trading of cryptocurrencies, but rather investigating the use of cryptocurrency and blockchain services that could benefit JPMorgan’s processes.

Around the same time, vice president Daniel Pinto said the company was looking into the Bitcoin space — admitting interest in the futures markets in an interview with CNBC. Pinto went as far as saying they would clear Bitcoin futures if they had to, while also saying that cryptocurrencies faced a number challenges:

   “I have no doubt that in one way or another, the technology will play a role. [Regarding Bitcoin], you cannot have something where the business proposition is to be anonymous and to be the currency for unknown activities. That will have a very short life because people will stop believing in it, or the regulators will kill it. I think the concept is valid [and that’s why] you have many central banks looking into. The tokenization of the economy, for me, is real. Cryptocurrencies are real but not in the current form.”

Jamie Dimon

JPMorgan CEO Jamie Dimon has long been a harsh critic of Bitcoin and cryptocurrencies. Dimon’s dissenting attitude dates back to 2015, when he said that Bitcoin would be stopped and that blockchain “is like any other technology.” Furthermore, Dimon made it clear that the bank would use the underlying technology to better its own systems:

   “If it is cheaper, effective, works and secure, then we are going to use it. The technology will be used, and it could be used to transport currency — but it will be dollars, not Bitcoins.”

Dimon’s most infamous critique of Bitcoin came in September 2017, when he labelled the cryptocurrency a fraud. The JPMorgan CEO went as far as threatening to fire employees that were offering to trade cryptocurrencies on behalf of their clients.

Dimon’s commentary on the subject ebbed and flowed in the following months, as his own views on the sector were seemingly at odds with the plans of the company. Dimon went as far as saying he wouldn’t make any more comments on Bitcoin, with JPMorgan adopting an ‘open-minded’ approach to cryptocurrencies.

In the lead up to the launch of the first-ever Bitcoin futures contracts in December by the Chicago Mercantile Exchange, the company even considered facilitating access to trading futures.

JPMorgan global market strategist Nikolaos Panigirtzoglou furthered the dividing opinions between the company and its CEO, writing in a note to investors that the launch of Bitcoin futures would drive the legitimization of the cryptocurrency:

   “The prospective launch of Bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors.”

Dimon seemingly changed his tune in 2018, saying he was not really interested in the subject in a January interview, while admitting he regretted his 2017 ‘fraud’ remarks.

A few weeks later, at the World Economic Forum in Davos, Dimon told Cointelegraph that he ‘was not a skeptic’ of cryptocurrencies.

After a number of months out the spotlight, Dimon made headlines earlier this month, reportedly calling Bitcoin a ‘scam,’ before reiterating he was not interested in the subject during a gala speech.

Dimon was quoted as saying government would move to shut down cryptocurrencies due to a lack of control over the space. This followed an interview with the Harvard Business Review, in which Dimon said that JPMorgan was testing blockchain technology for use in a wide range of applications within the company.

Winds of change

Dimon’s headline grabbing statements have somewhat taken away from the work being done at the global financial institution.

As previously mentioned, the company’s CIO Lori Beer has painted a more accurate picture of the company’s stance on blockchain technology and cryptocurrencies.

Her statements of blockchain’s impending adoption and the effect it will have on a global scale cannot be understated and seems to be a big driving force in JPMorgan’s Quorum project.

As Beer said, the company needed to create a blockchain platform that serves the needs of the company and its many clients:

   “We are currently following many paths. We invented a blockchain with an open code based on Ethereum. Actual blockchain technology has not yet resolved issues with privacy and scalability that we needed. We are connected to Hyperledger and Enterprise Ethereum Alliance. The application of this technology in business is more important to us than the technology itself. We are looking not only for cost reduction, but also for opportunities to develop new products.”

The CIO also said that JPMorgan is ‘evaluating’  the current state of the cryptocurrency space, while making it clear that it would only support regulated markets and currencies.

While this doesn’t take the company any closer to being actively involved in the cryptocurrency markets, its appetite for development of blockchain says a lot about the underpinning technology and the promise it has for the financial world.

Source: https://cointelegraph.com/news/jpmorgans-balancing-act-between-blockchain-and-crypto

[Fundstrat’s Tom Lee: ‘Correlation’ Between BTC and Emerging Markets Is Sign of Upcoming Trend Reversal]

Fundstrat’s Tom Lee: ‘Correlation’ Between BTC and Emerging Markets Is Sign of Upcoming Trend Reversal

Fundstrat’s Bitcoin (BTC) analyst Tom Lee has claimed that the cryptocurrency “could end the year explosively higher,” citing a correlation between it and emerging markets. Lee has made his new prediction in an interview during CNBC's "Trading Nation” show August 25.

The Head of Research at Fundstrat Global Advisors has said that he “still think it’s possible” that Bitcoin’s price could surge to as high as $25,000 this year. Lee has based this assumption on the relationship between the price of BTC and BlackRock’s iShares MSCI Emerging Markets exchange-traded fund (ETF), which tracks large and mid-sized companies in emerging markets.

The “important correlation,” according to Lee, lies in the fact that both markets are running somewhat parallel to each other, with both having “really essentially peaked” in early 2018, as well as “both [having been] in a downward trend” from then on.

Correlation between Bitcoin and MSCI Emerging Markets ETF. Source: CNBC “Trading Nation”

According to Lee, recent trading activity shows that hedge funds have stopped buying into funds tied to emerging markets due to market sell-off risks, which, in turn, leads to reduced purchases of Bitcoin.

As Lee believes, a change in direction in emerging markets would signal a similar change in Bitcoin’s trend:

   "Until emerging markets begin to turn, I think in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren't buying bitcoin."

In the interview, Lee pointed out that the “tide is changing” for both Bitcoin and emerging markets, especially if the U.S. Federal Reserve slows down its interest rate hikes.

In early July, Lee voiced his stance that Bitcoin could reach anywhere between $22,000 to $25,000 by the end of 2018.

Earlier this month, Tom Lee said that Bitcoin cannot be considered “broken” for as long as it keeps the current levels of price and volatility. Back then, he cited the numbers shown by Fundstrat’s Bitcoin Misery Index (BMI), a tool which measures how “miserable” Bitcoin investors are, based on the cryptocurrency’s price and its volatility.

Source: https://cointelegraph.com/news/fundstrats-tom-lee-correlation-between-btc-and-emerging-markets-is-sign-of-upcoming-trend-reversal

[Bloomberg: More Than $500 Mln Tether Issued in August Is Not Impacting Crypto Markets]

Bloomberg: More Than $500 Mln Tether Issued in August Is Not Impacting Crypto Markets

New issuances of stablecoin Tether (USDT) are not currently affecting the prices of either major cryptocurrencies or smaller altcoins, Bloomberg reports August 24.

In the article, Bloomberg noted that the allegations that Tether has been used to manipulate or stabilize the price of Bitcoin (BTC) — previously put forward in a paper from the University of Texas — are not holding true for the crypto markets this August.

The paper, published in mid-June, had claimed that Bitcoin reached its all-time high of $20,000 due to price manipulation involving both Tether and sixth largest crypto exchange Bitfinex, which is reportedly “the only direct client” of Tether.

In a June article, Bloomberg had noted that the research paper used 87 examples of the largest purchases of Tether with BTC from March 2017 to March 2018, finding that although they accounted for “less than 1 percent of the time period examined, they amounted to about 50 percent of Bitcoin’s compounded return over that year.”

In this week’s article, Bloomberg noted that the findings made in a recent research paper by blockchain research firm Chainalysis claiming that Tether has been increasingly impacting the prices of smaller cryptocurrencies, such as EOS and NEO, instead of major cryptos such as Bitcoin, Ethereum (ETH), and Litecoin (LTC), are not true for August.

Chainalysis Tether Price Correlation With Crypto Markets Chart. Source: Bloomberg

Bloomberg writes that Tether has issued over $500 million worth in new tokens in August, according to Omniexplorer data. However, “not even more than half a billion” in new USDT has been able to make any impact on the price of EOS and NEO this month, Bloomberg stated, citing that the altcoins have dropped 37 and 44 percent this month respectively.

Bitcoin has also seen a drop of around 19 percent on the month, with Bloomberg noting that August’s Tether issuance is a “move that in the past would have often coincided with a rally in Bitcoin.”

In July 2018, Bloomberg had posted another article on Tether’s price manipulation, focusing on the Kraken crypto exchange and implying that daily tradings amounts on Kraken should be influencing the price of USDT. Instead, as author pointed out, the cryptocurrency remained relatively stable, which was considered by “experts on market manipulation” as a “red flag.”

Kraken refuted Bloomberg’s claims shortly after, stating that Bloomberg’s writers “fail to comprehend basic market concepts such as arbitrage, order books and currency pegs.”

Source: https://cointelegraph.com/news/bloomberg-more-than-500-mln-tether-issued-in-august-is-not-impacting-crypto-markets

[Banking on Blockchain: World Bank Unpacks Launch of ‘BONDI’ Bond With Australia’s CBA]

Banking on Blockchain: World Bank Unpacks Launch of ‘BONDI’ Bond With Australia’s CBA

It’s been close to 10 years since Bitcoin came into existence, and in that time, major financial institutions have slowly come to grips with blockchain technology and cryptocurrencies.

Some have taken to the industry quicker than others, and some have outright turned their backs on the thought of using or investing in cryptocurrencies.

However, the technology underpinning these decentralized digital currencies has been a major focal point, mainly in terms of how it can be used by traditional banking and financial institutions.

A number of big name financial companies have actively developed blockchain-based systems used for different operations. JPMorgan’s Quorum platform runs on the Ethereum blockchain and allows enterprises to process private transactions within a select group of participants.

While that project has garnered plenty of attention from mainstream media, the applications of distributed ledger technology stretches across multiple industries. Thus Morgan Stanley has leveraged blockchain technology to process transactions and backup internal data. The benefits of the technology have also been used by global auditing firms like PwC, Deloitte and KPMG.

In August, the World Bank announced that it was launching the first-ever blockchain-based bond, through the Commonwealth Bank of Australia (CBA). The project is called ‘Bondi’ (Blockchain Operated New Debt Instrument), which could also refer to the world-renowned Bondi Beach in Sydney.

The bond has now been officially issued and the $73 million deal sees two-year contracts that will settle on Aug. 28. The CBA says the deal will yield a 2.2 percent return.

The move is the latest and most significant by a global banking company, as it marks a shift toward the use and understanding of the possibilities of blockchain systems.

   In an exclusive interview with Cointelegraph, the World Bank’s Paul Snaith, who is head of treasury operations, capital markets banking and payments, gave an inside look at the path taken to leverage blockchain technology at the institution, as well as the World Bank’s thoughts on cryptocurrencies:

Why blockchain, why Commonwealth Bank of Australia?

Cointelegraph: How long has this blockchain-based bond has been in development and why the Commonwealth Bank of Australia in particular was chosen to develop this platform?

Paul Snaith: We began considering that in August 2017, and after a while, we established the formal arrangement with CBA in January 2018.

There are three areas that are significant. On the first level, there is a very positive environment nurturing blockchain fintech. We think all levels of the Australian government are interested in all these technologies, and we think the regulators there are interested in what’s going on.

I think the example we used is that Australia’s stock exchange chose individual asset holdings to replace their equity settlement system in 2016. In a significant market like Australia, the equity settlement system and major market infrastructure is a powerful indication of understanding the benefits of the technology and governmental support — that’s at the governmental regulatory level.

CBA, they are innovative. We’ve worked with them for a very long time. We were aware of their prototype transactions, which they’ve been doing since January 2017. <...> We are aware that they’ve got a significant corporate commitment to innovation and that they understand this kind of technology is both a threat and opportunity in every line of business that they have. That’s why they have the innovation lab in Hong Kong, one in Sydney and one in London. We recognize them as innovative.

Lastly, the market: The World Bank has been issuing debt in Australia for a long time. We’ve been reactive to the Australian market and investors are familiar with our name. It’s a very convenient place for us to do business. Whether at the regulatory level, the innovation level or the market level where our name is used, it’s positive all round.

Cointelegraph: Was there any other country that you might have considered or any other field that you might have considered in order to move this project forward?

PS: We had quite a few preliminary conversations with various technology firms in the second half of 2017, but none quite resonated in the complete sense that I’ve given you for Australia. We use the term ‘contained’ — its the most contained-based market with positive views in regard to our partner, with innovation and regulation.

World Bank and cryptocurrencies

PS: The bank is considering developing an official line in that regard, and we do not have one at this time. But within that context, we have been having internal conversations about that.

   The key thing is with cryptocurrencies that are using proof-of-work, and therefore considerable power and energy use in establishing consensus — we are primarily a development agency and we care deeply about development issues — including carbon dioxide emissions and power generation, which contributes to global warming, and so on.

We’re a little discomforted by the power usage associated with proof-of-work, for example. We are an official organization owned by over 190 countries, so AML and CFTC rules are very important for us, and there are still concerns about AML and CFTC with the use of crypto. And we think it’s important that we don’t associate with that until we have a clear framework to do so. Those are some of the reasons why we would not do that at the moment.

   We did look at using a crypto token for the settlement on this bond transaction — but chose not to — primarily to de-risk the transaction a little bit to enable familiarity for all our investors with regard to the cash side of the transactions.

Getting investors to come into a significantly large transaction like this means us giving them comfort. They are certainly comforted by our name: We operate in a massive market and we are AAA rated. But there’s new technology underpinning it, so it's important that we de-risk the transaction on the cash settlement portion.

We are very, very interested in how that side of the equation will develop and we will continue looking at that. We have no generic opposition to what I have described. We grouped these technologies both on the transfer of securities on a register and the exchange of ownership of the cash piece, so both of those problems are going to be solved in the long run, which will reform these markets and make them so much faster.

Blockchain-based bonds and the banking sector

PS: We are a big name in this market and we hope it’s going to catch attention. I think you are already aware of large players in international markets that are already doing some activities and exploration. We mentioned Australia’s stock exchange, which is fundamental — we have not seen big infrastructure projects in other areas yet, but there’s a lot of research being done in places like Singapore, Canada and elsewhere. We hope this is going to give a nudge in that direction.

Lastly, we are primarily a development organization. This transaction really helps us learn. We’ve always been innovative in the capital markets. We hope to deepen our understanding of the impact of this technology in the capital markets, and we certainly look forward to doing exploration with regard to other means of moving value. We think there is considerable promise for these technologies to help that part of the world which is presently unbanked or has little access to financial services.

We’ve got a deep interest in seeing how these technologies can be applied for the benefit of the poorest in the world, and that’s a major focus as an institution.

Source: https://cointelegraph.com/news/banking-on-blockchain-world-bank-unpacks-launch-of-bondi-bond-with-australias-cba

[The SEC Admitted Being Too Hasty When Rejecting Bitcoin ETFs]

The SEC Admitted Being Too Hasty When Rejecting Bitcoin ETFs

As we reported not so long ago, the US Securities and Exchange Commission surprised everybody by taking the decision on Bitcoin ETF proposals earlier than planned. However, the companies that filed the proposals were not so happy, since they all received an indisputable “no” from the SEC.

It seemed like the topic could be closed for good, but there is now a new twist to the story. The Commission changed its mind. According to the American lawyer Hester Peirce, it sometimes happens that the regular staff of SEC take decisions, and the senior officers then find it necessary to review and even change them.

There is currently no information on when the abovementioned review will take place.

https://thecoinshark.net/the-sec-admitted-being-too-hasty-when-rejecting-bitcoin-etfs/

[Apple’s Steve Wozniak Plans to Get ‘Involved’ in Blockchain Project for First Time]

Apple’s Steve Wozniak Plans to Get ‘Involved’ in Blockchain Project for First Time

Apple co-founder Steve Wozniak has announced that he plans to get “involved” in a blockchain project in what is a “first” for him. The statement was made at the ChainXchange blockchain conference and reported by NullTX news site August 19.

At the ChainXchange conference, held in Las Vegas, U.S. August 13-15, Steve Wozniak revealed in an interview that he plans to participate in a blockchain startup, praising the benefits of the technology. He said:

   “I’m involved with, very soon, my first time being involved in a blockchain company. <…> Our approach is not like a new currency, or something phony where an event will make it go up in value. It’s a share of stock, in a company. This company is doing investment by investors with huge track records in good investments in things like apartment buildings in Dubai.”

Apple co-founder further explained his fascination with the blockchain technology:

   “It’s so independent! It’s kind of like the internet when it was brand new… I was amazed at the technology behind it. <...> I’ve encountered people working in real estate avenues, types of Uber systems, everything we’ve got in our life, especially involving transactions <...> Every single one you hear about, to me, has value…. A few people can see the value, which reminds me very much of the early internet days.”

Wozniak also compared the Ethereum (ETH) platform with the Apple’s App Store, as both allow thousands of companies and individuals to develop and run their own applications: “Ethereum provides the tools for a blockchain application of your own… I see more people using Ethereum that way.”

Earlier this spring, Wozniak had called blockchain tech a “bubble”, even though it is “decentralized and totally trustworthy,” as Cointelegraph reported June 27.

Despite his ambiguous stance on blockchain, Steve Wozniak admires Bitcoin, having said that it is “the only digital gold” during an interview June 4.

Source: https://cointelegraph.com/news/apples-steve-wozniak-plans-to-get-involved-in-blockchain-project-for-first-time

[Cryptocurrencies Are Unfamiliar to Half of Americans, Survey Shows]

Cryptocurrencies Are Unfamiliar to Half of Americans, Survey Shows

Only 5% of US citizens, who are investing or planning to invest in the next year, eyed on virtual coins.

Nearly half of the US adults have little to no understanding of cryptocurrencies, and only 5% of those who plan investment would bet on digital coins, a survey published on Thursday showed. Ordered by Association of International Certified Professional Accountants (AICPA), the report revealed that most people see volatility markets as an opportunity for easy revenues.

Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) are not popular among US citizens, as 48% of them are not familiar with digital coins, according to the AICPA research conducted by Harris Poll. Among the 42% that have some degree of knowledge, around 24% said that cryptos would rise in value, 29% thought that the coins would fall, 35% predicted wild fluctuations and only 12% believed that Bitcoin and the altcoins would remain stable in the next year.

The poll revealed that only 35% of US citizens are investing or have such plans for the next year with only 5% saying that they would give their money for cryptocurrencies.

The crypto unpopularity looks rather strange as one of the main conclusions of the report was that 48% saw the volatility as a chance for making money.

   “Investing is not a get-rich-quick scheme and trying to time a volatile market with hopes for huge gains is a serious financial risk,” Greg Anton, chairman of the AICPA’s National CPA Financial Literacy Commission said.

    “Many people who enter the market looking for a quick buck find they can’t handle watching their investment lose value, which leads them to sell at a loss. For most people, seeking incremental gains over a longer time horizon is a safer, more sustainable approach.”

Millennials (aged 20-37) and Gen Xers (aged 38-53) are the two groups that showed interest in high-volatility investments, the report noted.

The AICPA survey was conducted in April among 1,014 US adults.

Source: https://cryptovest.com/news/cryptocurrencies-are-unfamiliar-to-half-of-americans-survey-shows/

[John Mcafee To Debate Crypto With CEOs from TokenPay, ModernChain and Omnitude]

John Mcafee To Debate Crypto With CEOs from TokenPay, ModernChain and Omnitude

This week the King of Crypto himself, John Mcafee, will debate the contentious topic of cryptocurrency mainstream adoption with fellow blockchain enthusiasts live on Keith Wareing’s youtube channel.

On August 9 at 17:00 (EST), Keith Wareing will moderate a live discussion on one of the biggest challenges the blockchain technology and cryptocurrencies as an emerging industry are facing - mass adoption by the market. The discussion will unite four leading crypto pioneers to discuss their views on the future of blockchain in the mass market, the current barriers that are preventing widespread adoption and possible ways in which they can be overcome.

CEO of TokenPay.com, Derek Capo, CEO of MFChain.com, Craig Neil, CEO of Omnitude.tech, Chris Painter and the tech tycoon, John Mcafee will participate in the panel debates.

Token Pay (TPAY) is a decentralised crypto-fiat payment platform that has been designed to ‘bridge modern-day financial institutions with the benefits of the blockchain space’. The CEO of TPAY, Derek Capo, has received a glowing appraisal from Litecoin’s founder Charlie Lee who described Capo as having

   “...a real desire to increase crypto adoption.”

Omnitude.tech is another example of a blockchain-based, market adoption-driven company. It utilises a middleware layer that seamlessly integrates blockchain functions into traditional company systems to revolutionize supply chain management, data processing and a wide range of other applications.

Modern Finance Chain, or ‘MFChain’, is a cryptocurrency payment solution provider for retailers, vendors and merchants. By incentivizing these businesses to accept cryptocurrencies in exchange for their products and services, MFChain hopes to create a global digital payment ecosystem.

John Mcafee needs little introduction. The cyber security magnate has been a loyal advocate for blockchain technology for many years and remains a constant presence in this space. Over the last 7 days, Mcafee has been busy appearing in 2 live streamed discussions already with LearnCrypto and Adam Guerbuez from BitcoinStacks.com. For the most part, Mcafee has recently been tied up defending the unhackable Bitfi wallet and silencing the many false claims that the device has been breached. For now at least, Mcafee confirms that the $250,000 bounty for hacking this wallet remains untouched and still for the taking. Among other projects, Mcafee has also been promoting his latest ‘Cloak Phone’ project, which aims to deliver the world’s first privacy-focused smartphone to the market.

The discussion will undoubtedly draw a big crowd of viewers as some of the industry’s biggest players come together to debate one of the most well-debated topics in the fintech world.

Source: https://cryptovest.com/news/john-mcafee-to-debate-crypto-with-ceos-from-tokenpay-modernchain-and-omnitude

[Bloomberg: Goldman Sachs Plans ‘Crypto Custody’ Offering, Despite Bleak Market Predictions]

Bloomberg: Goldman Sachs Plans ‘Crypto Custody’ Offering, Despite Bleak Market Predictions

Goldman Sachs plans to “offer [clients] custody for crypto funds,” insider sources told Bloomberg August 6, as the investment bank says it remains “undecided” on its cryptocurrency plans.

As the publication reports, Goldman, which in May first hinted it would trade Bitcoin futures, now aims to offer various products linked to digital assets “in response to client interest.”

“In response to client interest in various digital products we are exploring how best to serve them in this space,” a spokesman said, adding:

   “At this point we have not reached a conclusion on the scope of our digital asset offering.”

Unofficial sources “with knowledge of the matter” meanwhile went further, telling Bloomberg it was cryptocurrency custody the company was targeting.

“Having a custody operation in place could also lead to other ventures, including prime-brokerage services,” Bloomberg added, paraphrasing the sources.

The news comes just a few days after Intercontinental Exchange (ICE) announced it would launch Bakkt, a regulated digital asset “ecosystem,” in November in partnership with global entities including Microsoft and Starbucks.

At the same time, Goldman’s position on cryptocurrency continues to reflect often mixed tendencies from other finance moguls with its.

Larry Fink, CEO of BlackRock, the world’s largest asset manager, claimed in July that he did not see large interest among his clients in exposure to cryptocurrency, while sources simultaneously revealed it was also looking at Bitcoin futures.

This weekend meanwhile, JPMorgan CEO Jamie Dimon labelled Bitcoin a “scam” in which he has “no interest,” after months of declining to comment on cryptocurrency.

In a further nuance, Goldman’s hands-on approach appears to contrast with remarks about cryptocurrency made just days ago in a report from its Investment Strategy Group. Forecasting further price declines across markets, the report’s authors claim that crypto assets “will not retain value in their current incarnation.”

Source: https://cointelegraph.com/news/bloomberg-goldman-sachs-plans-crypto-custody-offering-despite-bleak-market-predictions

[UBS: Bitcoin Must Hit $213,000 to Replace US Money Supply]

According to Cointelegraph:

UBS: Bitcoin Must Hit $213,000 to Replace US Money Supply

Zurich-based investment bank and financial services company Union Bank of Switzerland (UBS) has said that the Bitcoin (BTC) price must hit nearly $213,000 to replace U.S. money supply, Bloomberg reported August 2.

According to Bloomberg, a new report by UBS suggests that BTC cannot currently be considered money or a viable asset as its versatility is stymied by the capacity constraints of the BTC network.

Read more here: https://cointelegraph.com/news/ubs-bitcoin-must-hit-213-000-to-replace-us-money-supply

[Australian State Government Invests in Crypto Startup to Promote Regional Tourism]

Australian State Government Invests in Crypto Startup to Promote Regional Tourism

The state government of the Australian province of Queensland will issue a grant to a crypto startup as part of over $8.3 million of innovation funding, according to an official announcement published August 1.

According to the government statement, the TravelbyBit digital currency payments platform for the travel and tourism industry is one of 70 companies that will receive Advance Queensland Ignite Ideas funding, which supports entrepreneurs in Queensland in developing their businesses.

The company’s objective will be to boost the number of tourists to Central Queensland through selling travel offers with cryptocurrencies and creating more jobs. Innovation Minister Kate Jones said:

   “TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments... I understand TravelbyBit is specifically targeting places like Bundaberg (along the Great Barrier Reef) – using cryptocurrency to make it easier for tourists to book holidays.”

Co-founder and CEO of TravelbyBit Caleb Yeoh said that the company has partnered with Brisbane Airport Corporation to launch the “world’s first digital currency friendly airport” and has already implemented a blockchain-backed point-of-sale system in regional tourist towns. According to Yeoh, travelers can pay with Bitcoin (BTC), Litecoin, Dash, Ethereum, XEM and soon BNB. Yeoh said:

   “We have more than 150 merchants across Australia using our system and this funding, to develop a purpose-built platform that will accept digital currencies from anywhere in the world, will allow us to add jobs not only directly to our team but also across the broader tourism industry.”

Australia is not the first country to integrate digital currencies into the tourism sector. Earlier this spring, the German National Tourist Board (GNTB) announced that it started to accept BTC and other cryptocurrencies as a form of payment for its services.

In June 2014, IrishCoin was launched to boost the tourism sector in Ireland. The coin aimed to promote tourism by acting as a discount voucher at participating bars, restaurants, hotels, and tourist attractions. At press time, IrishCoin is trading at $0.0065 with a market capitalization of $231,648, or 30 bitcoins (BTC).

Source: https://cointelegraph.com/news/australian-state-government-invests-in-crypto-startup-to-promote-regional-tourism

[Japan’s SBI Group to Develop Crypto Derivatives Platform Following New Investment]

Japan’s SBI Group to Develop Crypto Derivatives Platform Following New Investment

Japanese financial services giant SBI Holdings will expand its crypto business portfolio by acquiring a 12 percent stake in Clear Markets, according to SBI’s financial results report published July 31. SBI is scheduled to acquire up to 20 percent in the future.

Clear Markets is a U.S.-based electronic trading platform developer and operator that offers over-the-counter derivatives electronic trading services in the U.S., U.K., and Japan.

SBI’s new stake in Clear Markets is part of an effort to create a cryptocurrency derivatives trading platform catered toward institutional investors. The platform will reportedly allow financial institutions to trade more smoothly on the crypto derivatives market.

Clear Markets will provide hedging for cryptocurrency swap transaction services which is “necessary for the handling of cryptocurrencies and financial instruments that use cryptocurrencies.” In the report, SBI Group noted that the increased use of cryptocurrencies and its derivatives will increase liquidity levels.

While the price of the stake was not disclosed, according to Nikkei Asian Review, it is likely worth around $9 million.

Clear Markets is planning to launch а crypto swap trading service and holds a swap execution facility (SEF) license from the U.S. Commodity Futures Trading Commission (CFTC) and derivatives brokerage in the U.K. and 32 countries in Europe. The company is an an affiliate of QUICK Corp. which is a subsidiary of Japan’s Nikkei Inc.

SBI has invested in more than 20 crypto crypto-related projects over the past year, and formally launched the public version of its cryptocurrency exchange VCTRADE July 17.

Japan is one of the leading countries in terms of cryptocurrency adoption. According to Clear Markets chief executive Mark Brickell, “as much as 50 percent of cash trading in cryptocurrency,” has taken place in the country.

Last week, the Japan Virtual Currency Exchange Association (JVCEA) announced it will require its member exchanges to place limits on the trading activity of some clients in an attempt to prevent investors with “small assets” from suffering heavy losses.

Source: https://cointelegraph.com/news/japans-sbi-group-to-develop-crypto-derivatives-platform-following-new-investment

[Philippine Central Bank Creates Blockchain, FinTech Unit]

Philippine Central Bank Creates Blockchain, FinTech Unit

The Philippine central bank has created a new unit to monitor blockchain and fintech firms.

Bangko Sentral ng Pilipinas (BSP), The Philippine’s central bank, announced the creation of a blockchain and fintech (financial technology) unit as part of its National Retail Payment System (NRPS).

BSP Governor Nestor Espenilla Jr. made the announcement during a conference last Friday. The central bank chief appointed Vicente de Villa III as officer-in-charge of Financial Technology Sub-Sector (FTSS) under the Financial Supervision Sector to oversee blockchain and fintech companies as part of the BSP’s initiative to increase digital payments across the country.

   “An efficient retail payment system has the potential to transform the economy through the efficiency it brings to business transactions and the savings generated from a shift from paper-based to digital instruments,” Espenilla said.

The conference was organized by the BSP Payments and Settlements Office to increase awareness of the need to establish appropriate and innovative systems to process financial transactions in the most efficient way possible while ensuring their safety and integrity.

De Villa III said the unit was created a month ago and will handle two offices, with a Payments and Settlements Oversight Department and a Core Information Technology Specialist Group.

   "We are still overseeing banks, but banks and technology nowadays have to come hand-in-hand… There's outsourcing that takes place and we have to make sure that these outsourcing services are governed by our rules and regulations," De Villa said.

A cybersecurity unit was also created alongside FTSS to check financial firms’ compliance and to protect companies against cybersecurity breaches.

Espenilla explained the NRPS was created to create a safe, efficient and reliable electronic retail payment system that is interconnected and interoperable.

He explained that NRPS’ ultimate goal is to boost the retail electronic payment transactions to 20 percent by 2020 and improve our economic competitiveness.

To bring the realization of the goal, two Automated Clearing Houses (ACH) - PESONet and INSTAPAY - were launched last Nov 8, 2017, and April 23, 2018, respectively.

Both ACHs seeks to solve the government, businesses and ordinary consumers’ current payment problems.

Source: https://cryptovest.com/news/philippine-central-bank-creates-blockchain-fintech-unit/

[Nasdaq Discusses Crypto Regulation with Gemini, Five Others at Closed-Door Meeting]

Nasdaq Discusses Crypto Regulation with Gemini, Five Others at Closed-Door Meeting

Nasdaq and representatives of about six companies operating in the cryptocurrency market held a closed-door meeting last week.

Stock exchange operator Nasdaq held a closed-door meeting last week with representatives from cryptocurrency exchange Gemini and about five other crypto-oriented companies, Bloomberg reports, citing a person familiar with the matter. The event in Chicago was organized to discuss ways to improve the image of the cryptocurrency market and admit its significant potential in the global markets.

Gemini did not respond to comment requests while a Nasdaq spokesperson declined to comment, but confirmed that the event took place. It seems that Nasdaq, the operator of the second largest stock exchange in the world, wants to push the crypto industry towards the mainstream.

The source told Bloomberg that some of the discussed topics were related to the future regulation of cryptocurrencies and the necessary adjustments required for achieving that. Nasdaq CEO Adena Friedman has previously mentioned the need for crypto regulation. Moreover, the company is helping several exchanges to be in line with the requirements.

Bloomberg’s source also said that there would be more such events as the dialogue between the parties would be ongoing.

In April, we reported that Gemini partnered with Nasdaq to use its advanced surveillance system to prevent and control market manipulations. The stock exchange operator revealed last week that it was offering its technological solutions to five cryptocurrency exchanges, which includes Gemini and SBI Virtual Currencies. The other three entities were not disclosed.

The fact that such large companies like Nasdaq are joining forces with key players of the cryptocurrency world gives hope to the crypto community that Wall Street will accelerate the adoption of the emerging industry. The Wall Street entities, including banks, institutional investors, fund managers, regulators, and other parties, are viewed as the upper echelon of the financial world. Any kind of approval from that side is regarded as a big victory for the cryptocurrency space.

Source: https://cryptovest.com/news/nasdaq-discusses-crypto-regulation-with-gemini-five-others-at-closed-door-meeting

[Venezuela's New Petro-Backed National Currency to Start Circulating in August]

Venezuela's New Petro-Backed National Currency to Start Circulating in August

The president of Venezuela Nicolás Maduro has announced that the country’s new cryptocurrency-backed national currency will start circulating August 20, local state news agency Telesur reported July 25.

Telesur reports that the new currency, the Bolívar Soberano (Sovereign Bolivar), will have five zeros less than the existing national currency Bolivar Fuerte (VEF) and will be anchored to the oil-backed Petro (PTR) digital currency. The Petro was launched by the government of Venezuela this February.

Maduro noted that the measure intends to align the financial and monetary system in the country “in a radical manner,” stating that the reconversion and anchoring to Petro is a “great hope" for developing a “productive, diversified and sustainable economic model.”

The president also said that the measure can help with inflation, shortage of cash, as well as mitigate the long lines at ATMs that have become routine for Venezuelans.

Maduro expressed continued confidence in the Petro, declaring that the state-backed digital currency “will end up being consolidated technologically and financially” and will embrace “all the national and international economic activity.”

Meanwhile, the reconversion has been criticized by a number of financial experts, with economist Maxim Ross claiming that the measure “does not solve anything,” Local 10 News reported in March.  

Opposition legislator and economist Angel Alvarado also spoke critically of the move, telling CNBC that “taking zeroes off the money doesn't fix a thing,” and it won’t actually combat inflation in the economy.

In late 2016, Cointelegraph reported that the Venezuelan bolívar had suffered a sharp decline in value amidst high inflation, which reportedly pushed Venezuelans to start buying Bitcoin (BTC).

Recently, the Venezuelan government has initiated a number of social projects funded by the Petro. Earlier in July, The Ministry of Habitat and Housing revealed plans to initiate a housing construction program for the homeless, funded by the Petro. In May, president Maduro announced the launch of a Petro-funded crypto bank to support youth and student initiatives.

Source: https://cointelegraph.com/news/venezuela-s-new-petro-backed-national-currency-to-start-circulating-in-august

[Reserve Bank of India Urges Supreme Court to Regulate Crypto]

Reserve Bank of India Urges Supreme Court to Regulate Crypto

India's central bank, the Reserve Bank of India (RBI), has urged the country’s Supreme Court to regulate cryptocurrencies, local news outlet the Financial Express reports July 21.

In April of this year, the RBI announced it will stop providing services to businesses or persons dealing with cryptocurrencies, citing high risks.

The RBI’s senior advocate Shyam Divan told a bench led by Chief Justice Dipak Misra that it is necessary to regulate Bitcoin (BTC) and other cryptocurrencies since these “particular means” will “encourage illegal transactions.”

Divan also pointed out that the issue has “immense policy dimensions,” attesting that crypto has the potential to impact global money flows.

The senior advocate explained that an interdisciplinary committee headed by secretary of economic affairs, Subhash Garg, set up in 2017 in order to develop the regulatory framework for cryptocurrencies, is examining the issue. The RBI will require three weeks to respond to multiple petitions on the regulations.

On July 19, the Supreme Court reportedly postponed the final hearing on the RBI’s ban on crypto dealings —  originally scheduled for July 20 — to September 11.

The April crypto-dealing ban received backlash from the Indian crypto community, including an online petition to reverse the ban that garnered over 44,000 signatures. In May, India’s Supreme Court decided not to grant an interim injunction against the RBI ban sought by eleven crypto-related businesses.

Also in May, India’s Supreme Court ordered that no petitions can be filed in any Indian High Court against the RBI decision to ban crypto dealings. On July 5, the RBI’s three month deadline for businesses to withdraw from crypto came to an end, meaning that the ban has fully entered into force.

On July 12, an anonymous source in the Indian government reported that authorities may plan on classifying cryptocurrencies as commodities, instead of implementing a blanket crypto ban.

Source: https://cointelegraph.com/news/reserve-bank-of-india-urges-supreme-court-to-regulate-crypto