Two stone-broke football clubs, Newcastle United and Cardiff City, are trying to dodge the financial issues by planning to launch cryptocurrency through a tokenized crowdfunding round as reported by The Times.

Both the English Premier League teams are reportedly in conversation with SportyCo, a decentralized sports investment and funding platform, to launch their Initial Coin Offering (ICO) round. SportCo has prior partnered with Avaí Futebol Clube to raise them about $20 million through a public sale of AVAI tokens. The organization is likewise a main sponsorer of Espanyol, the world's top football team.

This partnership would empower the clubs to start the sale of their private digitized tokens as securities/utilities. As interested members buy these tokens, they would either gain a specific stake in the clubs' income or get extra benefits for utilizing the token on games-related purchases.

The Mag highlights the poor financial status of both Newcastle United and Cardiff City. Also, both Newcastle United and Cardiff City have accepted that they are battling for survival with lower-budgets.

     "Sir John Madejski, a prominent figure in the Premier League once said that running a football club is not for faint-hearted; that one has to have deep pockets to run them         smoothly especially when most clubs run at a loss."

After understanding that running a football club can't simply be a one-rich-man show, football clubs are opening up to the possibility of going public.

To Continue Reading Click Here - https://cointopper.com/news/two-english-premier-league-teams-are-planning-to-launch-icos

[This New York-based financial service-firm is promptly planning bitcoin swaps to give investors exposure to the digital currency performance without actually owning them.]

Financial firms have shown immense interest in diving into the crypto market. It’s no brainer that the giant firms are always trying to dope something new to grab the customers’ attention on them.

It’s been a while that the crypto market has introduced the concept of direct investing in cryptocurrency without owning them. Citigroup has already stepped a bit ahead with their digital asset receipt. While such success of Citigroup has kindled up the market of digital currencies, the giants like Morgan Stanley, Goldman Sachs has started exploring custody products of cryptocurrencies.

As reported by Business Insider, Morgan Stanley is out to offer trading of a derivative product tied to Bitcoin. This New York-based financial service-firm is promptly planning bitcoin swaps to give investors exposure to the digital currency performance without actually owning them.

The firm is ready to launch their product and will release as soon as they find the right amount of demands from industrial clients. Morgan Stanley has been the most bulge-bracket bank to dive deeper into the cryptocurrency market. As per the report, the bank has said it is not trading bitcoin itself. The report also reveals that Morgan Stanley has hired Andrew Peel from Credit Suisse in June as head of digital asset to smooth out their crypto-success.

Meanwhile, Goldman Sachs has already started to trade bitcoin futures and other digital currency products. On the other hand, Citigroup’s digital asset receipt is quite similar to the American depository receipt, which has been around for a decade to give US investors a way to buy foreign stocks.

To continue reading click here

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据“南华早报”周二报道，9月18日，中国商人拥有15亿美元的区块链基金，为不同的法定货币开发三种新的稳定币。

由姚永杰拥有并由着名中国比特币投资者李小来和杭州当地政府支持的Grandshores区块链基金表示，第一个稳定币项目将涉及日元。

此外，姚明计划为香港的Grandshores Technology筹集1亿港元（约合1270万美元）用于加密货币融资。他说：

    “我们认为加密货币交易商和交易所将成为这种稳定币的潜在吸引力，”

姚进一步补充说：

    “我们正在进入区块链演进的下一阶段，这个阶段类似于计算机操作系统从MS-DOS [磁盘操作系统]转移到MS-Windows的时候，”

这是在最近当局封锁外国交易所并审查与之相关的活动后对中国的加密货币进行打击之后。

继续阅读点击这里

Sagar Sarbhai, Ripple's Head of Government and Regulatory Relations for APAC and the Middle East, recently revealed some information about XRP's connection with banks at a Fintech conference.

Sarbhai referred to the matter of XRP being piloted with around 12 banks worldwide even before the xRapid product was launched. He stated:

    “In 2016 what we did was we piloted with 12 banks. These 12 banks were based across regions across the globe and they did not have prefunded relationships with each other. and what we did was we gave these banks some XRP and asked them to settle within themselves and it worked beautifully.”

At that time, XRP fitted well in cross-border payment usecase, however, a system was required for allowing the banks to utilize it due to the regulatory issues back then. Such issues were faced by the banks as per Sarbhai. He remarked:

    "[They said] we would love to adopt it but we cannot, because there are capital requirements and regulatory uncertainty. So they said that its volatile, [and that] there are no set of regulations, so we cannot hold those assets in our books.”

This led the team of Ripple to come up with an evolved product - xRapid. For driving its mass adoption, Ripple started to partner up with payment providers who showed interest in using xRapid. Sarbhai said:

    “That works because they don’t have to hold the digital asset on their books but using the piece of software called xRapid they can actually connect to a digital asset exchange, convert fiat to XRP at that time and XRP to fiat in real time on the other end and that actually happens in 3 seconds so there’s no case of volatility risk as well.”

To Continue reading https://cointopper.com/news/sagar-sarbhai-says-xrp-piloted-with-12-banks-worldwide-before-xrapid-launch

[Operation Cryptosweep]

Operation Cryptosweep was launched back in May 2018 with an aim to protect the investors and keep them from falling prey to fraudulent ICO schemes or other crypto-related investment products. This international task force aims to focus on the securities infringement in the crypto business which was established by the North American Securities Administrators Association (NASAA), a body formed by a joint regulatory force of the U.S., Canada, Puerto Rico, the U.S. Virgin Islands and Mexico.

In an official public statement on Tuesday, August 28, NASAA reported that Operation Cryptosweep has now "more than 200 active investigations" done by the provincial-level and state offices in the U.S. and, Canada itself. In a recent couple of months, the Operation Cryptosweep has started 47 diverse authorization activities while uncovering violations relating to securities fraud to startups deceiving the investors about their products prior to the launch.

Operation Cryptosweep has likewise gotten support and appreciation from Jay Clayton, the U.S. Securities and Exchange Commission (SEC) Chairman. The press release quoted Joseph P. Borg, NASAA President, and Alabama Securities Commission Director, saying:

    “State and provincial securities regulators are committing significant regulatory resources to protect investors from financial harm involving fraudulent ICOs and cryptocurrency-related investment products and also are raising awareness among industry participants of their regulatory responsibilities.”

He additionally included:

    “While not every ICO or cryptocurrency-related investment is a fraud, it is important for individuals and firms selling these products to be mindful that they are not doing so in a vacuum; state and provincial laws or regulations may apply, especially securities laws. Sponsors of these products should seek the advice of knowledgeable legal counsel to ensure they do not run afoul of the law. Furthermore, a strong culture of compliance should be in place before, not after, these products are marketed to investors.”

Texas' state security board has been the most effective... To continue reading Click Here

[Here]

JP Morgan CIO Lori Beer says that blockchain will "replace existing technology" in a couple of years, at a press conference in Buenos Aires as reported by Cripto247 on August 23.

    Beer expressed: “We will see a greater and wider use of blockchain [...] In a few years blockchain will replace the existing technology, today it only coexists with the current one,”

Beer disclosed to Cripto247 that JP Morgan utilizes blockchain technology to "simplify the payment process and to store customers’ information related to KYC (Know Your Customer) policy." She added that blockchain technology prevents illegal tax avoidance. Beer further clarified the utilization of blockchain technology by the bank:

    "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.”

Beer was also questioned regarding JP Morgan's position on purchasing cryptocurrencies... Click Here to continue reading

[According to the team of Everipedia, the site is totally free from ads and promotions. It is decentralized and made for ‘truth-seekers.’]

Everipedia which is considered to be the biggest competitor of Wikipedia is live now. It is the first decentralized internet encyclopedia that is based on the blockchain technology. Everipedia is uncensored in terms of information and also it comes under no central power.

Everipedia is live now and it has 6 million articles, which is more than Wikipedia that has been around for 17 years now.

According to the team of Everipedia, the site is totally free from ads and promotions. It is decentralized and made for ‘truth-seekers.’

The information shared is not bound to the countries and regions and can be viewed by anyone even if it's banned. The co-founder and CEO of the organization, Theoder Foselius says,

“Wikipedia is largely older white men, we’ve tried to focus on getting a lot of female edits, younger editors, and diverse background and ethnicities.”

There are many differences between these two platforms. At Wikipedia, the contributors work for free but Everipedia has introduced the concept of incentives that will encourage people to contribute for it.

Everipedia will reward the contributors with the IQ tokens. IQ tokens will allow the holder eligible to governance and voting rights of the organization. Everipedia is under no central server and no centralized power. The project’s existence is not liable to a few people. The CEO says, “If everyone on the team got abducted tomorrow, the site would keep running.”

Click Here to read, what co-founder of Wikipedia, Larry Sanger says.

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日本の金融管理者は、23の暗号化交換のオンサイト評価を完了しました。組織は多数の問題を発見し、それらに関する報告書を放棄した。コントローラは、調査結果を利用して、評価を待っている100を超える組織を含む、新しい暗号交換候補者のレビュー手順を修正します。

日本の最高財務責任者である金融庁（FSA）は、今週金曜日、全国で働く23の暗号化交換の現場レビューの結果を宣言した。これらの23のうち7つが完全にライセンスされた暗号トレードであり、残りは「ディーラーとみなされている」ことが分かった。

これらの取引は、そのアプリケーションが代理店によって継続的に監視されている間に実行することができます。

1月には、Coincheckがハッキングされ、これらの機関が不審になり、取引所の見直しが開始されました。

この発表とともに、FSAは、取引所の監視から見つかった問題を含む報告書を明らかにした。

日経は、迅速な取引で内部システムのメンテナンスが更新されなかったという混乱した現実を検査で明らかにした。リスクは、これらの仮想通貨については未評価のままであった。

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[Crypto Exchanges Protest Against Korea's Removal of Crypto Businesses from Tax Reduction Bill]

Crypto Exchanges Protest Against Korea's Removal of Crypto Businesses from Tax Reduction Bill

The government of South Korea has made a very controversial decision which provoked the exchanges to protest. They removed cryptocurrency business from its tax reduction bill. The decision was pretty quick. But Korea was first to pass "The New Cryptocurrency And Blockchain Bill: A Positive Crypto Legislation"

Local cryptocurrency exchanges and blockchain-related non-profit associations have started to formally protest against the government of South Korea for its controversial decision to remove cryptocurrency businesses from its tax reduction bill.

Earlier this month, the government of South Korea released a proposition entitled "Venture Enterprise Bill", a bit of administrative system planned to fuel the development and advancement of small to medium-sized organizations. If passed, the bill will give an extensive variety of advantages to organizations over different enterprises, including 50% of tax reduction.

On August 12, the government of South Korea officially made a statement that the blockchain project and cryptocurrency-related business will be taken out of the bill. There are restaurants, bars and event operators that are included in the list that will be taken off from the bill.

Local authorities expressed that blockchain projects and cryptocurrency exchanges were wiped out from the bill to prevent a rapid increase in speculation in the new asset class, communicating their worries over the present condition of the cryptocurrency trade market in South Korea.

A year ago, in December, the demand for digital assets in the nation flooded to a point in which existing supply of cryptocurrencies on the local trading exchange was not adequate to encourage the exponentially increasing volume driven by new purchasers and examiners.

Subsequently, the Financial Services Commission (FSC) and other financial offices in South Korea forced a few arrangements to impose with the so-called "Kimchi Premium" in the local trade market, which achieved 30 to 40 percent in late 2017.

Click Here to read full statement by local publications.

[Here]

The Japanese financial controller has completed the on-site assessments of 23 cryptocurrency exchanges. The organization discovered numerous issues and has discharged a report regarding them. The controller will utilize the findings to fix its review procedures of new cryptocurrency exchange candidates, including more than 100 organizations that have been waiting to be evaluated.

Japan's best financial controller, the Financial Services Agency (FSA), declared the consequences of the on-site reviews of 23 cryptocurrency exchanges working in the nation, this Friday. It was found that 7 out of these 23 are fully licensed crypto trades, rest being “deemed dealers”.

These exchanges are allowed to run while their applications are under continuous observation by the agency.

In January, the Coincheck was hacked which made these agencies suspicious and they started reviewing the exchanges.

Along with this announcement, the FSA also revealed a report that includes the problems that were found from the monitoring of the exchanges.

Nikkei elaborated that the inspection reveals a disorganized reality that the maintenance of the internal system was not updated with the quickly changing transactions. The risks were left unevaluated for these virtual currencies.

Furthermore, the news outlet conveyed that the agency found certain facts. They found, “the total assets of the exchanges rapidly expanded to more than 6 times in one year.” There are fewer than 20 executives at places, with assets under the custody of “3.3 billion yen per person” on average.

Click Here to read, Nikkei, three companies are under observation, including Coincheck.

[Here]

Japan's financial regulator is reportedly taking a gander at renewing its regulatory system for the cryptocurrency segment to mitigate the speculations.

In April 2017, the Financial Services Agency (FSA) – Japan's budgetary controller – upheld new enactment that updated the Payment Services Act to perceive cryptocurrencies as legitimate tender.

The administrative move was spearheading at the time wherein a noteworthy economy ordered household crypto trade administrators to enlist and procure a permit from the expert to work a crypto trade in Japan.

The regulator commanded the system to proactively get ready for a flood in cryptocurrency appropriation, particularly in their utilization in installments and settlements.

A senior official from the regulatory authority told the Japan Times,

“the FSA moved to prevent a situation in which there is no law governing(cryptocurrencies) when they come into wide use.”

However, the report on Wednesday revealed that the regulator did not anticipate adopters swinging to cryptocurrencies like bitcoin for an investment instead of payment instruments and, therefore, is currently taking a gander at tweaking those directions to check speculative investments.

In order to ‘close the gaps between regulations and actual practice for cryptocurrencies’, the FSA set up a panel of experts in April as it further hinted the regulatory shakeup of the current system.

As reported by CCN in July, the FSA... Click Here to read full report.