Monthly Update
Digital Assets Monthly Report – October 2020 Edition
October was a month full of positive developments for digital assets. Marketcaps have increased, FinTech firms have launched new solutions, and companies are converting cash reserves to Bitcoin.
Regulatory Advances and Findings
October saw regulatory activity on both sides of the Atlantic. State side, we saw a drawn out battle between Kik and the SEC come to a conclusion. Hop over the the United Kingdom, and the FCA began reining in digital assets through various bans.
Kik and SEC Find Middle-Ground in Ongoing Trial, Opting for Settlment
FCA Has Banned Crypto Based Derivatives & Exchange-Traded-Notes in the U.K.
Secondary Markets
The past year has seen plenty of forward momentum, in building a foundation of services for digital securities to thrive. Part of this foundation is the development of secondary markets. October saw two major moves in this regard, involving, both, Securitize and INX.
Securitize to Become Broker/Dealer + ATS Through Acquisition of DTM and Velocity Markets
INX to Acquire and Merge with OpenFinance, Creating Regulated Trading Platform for Digital Assets
In The News
PayPal Awarded ‘Conditional BitLicense’ – To Support Spending & Trading of Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.
In the coming months, PayPal will begin supporting various cryptocurrencies. With the ability to not only trade, but spend cryptocurrencies at its 27M merchants, many have likened this development to the ‘news of the year’. Read More
“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange.” – Dan Schulman, CEO of PayPal
PwC Forecasts Major Blockchain Adoption – Identifies Top Use Cases
With the potential of blockchain no longer a secret, it has garnered the attention of industry giants like ‘Big Four’ auditing firm, PricewaterCoopers (PwC). October saw PwC release a glowing report on blockchain, and what it perceives as the top use-cases for the technology, moving forward. Read More
“Serious activity around blockchain is cutting through every industry across the globe right now. It’s driven by an acute need to win trust in the digital world. Businesses are rethinking their operations and are discovering not only is blockchain technology key to delivering trust, but it’s an opportunity open to all.” – Steve Davies, Partner and Blockchain Leader at PwC UK
Alternative Investing
Investing in Genomics and CRISPR
The digital securities sector is not the only intriguing, high potential, industry on the rise. Joining it are, both, Genomics and CRISPR technologies. In this overview, Securities.io CEO, Antoine Tardif, discusses a few of the companies working hard in these respective fields. Read More
Interviews
Denelle Dixon, CEO of the Stellar Development Foundation
For years now, the cryptocurrency known as ‘Stellar’ has been a mainstay in the industry. It is rife with potential, and boasts some of the industry’s highest levels of real-world adoption. Much of this is due to the work being done at the Stellar Development Foundation (SDF).
In this discussion, we speak with Denelle Dixon, CEO of the SDF, learning more about both herself, and what lay ahead for Stellar. Read More
Around the Web
Central Bank Digital Currencies: Foundational Principles and Core Features – BIS
Around the world, Central Banks are working hard to develop their own variants of a ‘central bank digital currency‘ or ‘CBDC‘. Part of this process is first establishing core principles, which will guide each endeavour.
October saw the Bank for International Settlements (BIS), release a joint report, tackling discussing these core principles. Cumulatively, 8 central banks contributed to the report, providing clear insight into each’s thought processes. Read More
