Digital Assets Monthly Report – December 2020 Edition

With 2020 now in the rearview, we can look back upon a year that while tumultuous for much of the world, was a boon to the digital assets.  December provided no shortage of news, with big names including companies like Facebook, Ripple, Coinbase, and more making waves – albeit not always for the right reasons.  This edition of ‘The Digital' highlights a few these industry developments.

Regulation

The Securities and Exchange Commission remained busy over December, agreeing settlements with companies such as Robinhood.  These actions came despite the restructuring of not only its leadership, but internal divisions.

Robinhood Reaches $65M Settlement with SEC Over ‘Commission Free Trading'

SEC Roundup – Clayton Completes Tenure, Broker-Dealer Proposal, Fund Manager Charged

FinHub to Branch out from SEC, Becoming Independent Office

Bitcoin Progress

Aside from the staggering price gains being experienced by Bitcoin, the leading digital asset made notable headway in December.  This was seen from both an adoption and technological standpoint.
Lightning Network to be Supported by Kraken in 2021
Bitcoin Allocation Growing Among Treasury Reserves

Breaches and Lawsuits

Growth is never uniform, and companies will always suffer setbacks.  This past month saw two notable companies confronted with multiple issues, ranging from data breaches, lawsuits, and allegations of inequality in the workplace.

Coinbase Woes Continue with New Class Action Suit and Alegations of Pay Inequality

Ledger Still Suffering from June Data Breach as Stolen Data Goes Public

In The News

Ripple vs. Securities and Exchange Commission

While we could easily have filed this under ‘regulation', the events surrounding Ripple and the SEC are big enough to warrant highlighting.  In what the SEC calls an illegal and unregistered ‘$1.3B digital securities offering', this case has the potential to reshape digital assets as we know them.  Read More

“…the complaint illustrates how XRP was never properly registered as a securities, and that the plaintiffs were fully aware of this, and that many of the actions of the executives and the company they controlled was exclusively designed with alleged price manipulation in mind.” – Antoine Tardif, CEO of Block Ventures

Tokenized Stocks from Apple, Tesla, and Amazon Now Available through Bittrex Global

Tokenized stocks give investors around the world the opportunity to gain indirect access to investment opportunities not previously accessible.  We took a look at some of the anticipated perks behind tokenized stocks after Bittrex announced their support.  Read More

Education

What is the Lightning Network & How Does it Work?

The hotly anticipated second-layer protocol known as the ‘Lightning Network' has the potential to change the way we view and utilize Bitcoin.  For those interested in learning about not only the perks behind this network upgrade, but how it functions, make sure to peruse this informative article.  Read More

Interviews  

Michael Albanese, CEO of Tradewind Markets

Blockchain has the potential to change the way many industries function through the digitization of commodities and other asset classes.  In this interview we speak with the CEO of a company dealing specifically with the lifecycle management of precious metals through the use of blockchain.  Read More

Around the Web 

Germany Legalizes Digital Securities Using Blockchain Technology – Crowdfund Insider

Although we often focus on decision made by the SEC, it is not the only regulatory body adapting to blockchain technologies.  Crowdfund Insider recently highlighted a decision made by German regulators to legalize a new use for digital securities and blockchain.  Read More