Malaysia Ties Token Offerings To Crypto Exchanges
After the US SEC’s investor alert against Initial Exchange Offerings (IEO’s), Malaysia’s regulator has published a regulatory guide requiring token offerings in the country to be attached to exchanges. A recent report from Malaysia’s Securities Commission (SC) makes clear that digital tokens are to be used only for goods and services and within strict guidelines, which will take effect in late 2020.
EEA Can Test New Blockchain APPs
Members of the Enterprise Ethereum Alliance (EEA) can now test their blockchain applications within a new testnet, which does not require a full-scale roll-out. The Enterprise Ethereum Alliance revealed its new partnership with blockchain testing and development firm Whiteblock, through which the EEA will use the Whiteblock Genesis testing platform. The platform will allow users to manage and utilize the EEA TestNet, wherein EEA members will be able to collaborate around building and testing the next generation Ethereum (ETH) enterprise apps.
BITFURY Working With UN To Help Kazakhstan
The Blockchain development firm Bitfury is preparing to partner with the United Nations Development Programme (UNDP) on a project to conserve and increase Kazakhstan’s forestland. The project aims to help the country to reduce its greenhouse gas emissions by 15% over the coming decade to meet its commitments in the 2016 Paris Agreement.
Venezuela To Sell $4.5 Million Barrels For Petro
Venezuela will soon sell oil from the reserves of a state-run oil and gas company for its national oil-pegged cryptocurrency, which is called the Petro (PTR). The Venezuelan President Nicolas Maduro has signed a decree to sell 4.5 million barrels of oil from the certified 30 million-barrel reserve maintained by Petroleum of Venezuela (PDVSA), the state-owned company.
BITWISE Cancels ETF Application Due To Issues with SEC
A recent document from the United States Securities and Exchange Commission (SEC) confirms that Bitwise Asset Management requested the withdrawal of its application for a Bitcoin (BTC) Exchange Traded Fund (ETF). This is the second major ETF withdrawal in recent months following similar actions by VanEck
3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income
In a special announcement made at the Unitize conference on July 6, Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits. The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future. Do Kwon, founder and CEO of Terra, explained in a prepared statement:
“While DeFi staples such as Maker and Compound have been revolutionary in creating fully decentralized crypto money markets, the volatility of their interest rates makes them unsuitable to be used as a household savings product. DeFi mass adoption needs the creation of a fully decentralized savings account that offers dependable APR.”
Anchor’s smart contracts receive stablecoin deposits and use a portion of them to acquire staking positions on compatible Proof of Stake blockchains. Users will receive their passive income from these staking rewards. The initial governance for this platform will come from the Interchain Asset Association (IAA), a newly formed organization that sees Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs collectively steering the ship.
Telegram Is Set To Shut Down The TON Testnet By August 2020
Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less than a month from now, network participants will still be able to continue their experimentation after the testnet is terminated. In order to do that, users can install their own testnet validators, described in greater detail in three different how-to documents containing guidelines for the Full Node, the Validator, and Test Grams.
Telegram launched the TON testnet for explorer and node software on Sept. 6, 2019. In anticipation of its scheduled Oct. 31 launch last year, the company released an alpha version of an iOS wallet to work with its native token, the Gram. But Telegram’s TON plans were never fully realized, as the United States Securities and Exchange Commission suddenly deemed Telegram’s $1.7 billion ICO illegal in mid-October. After a long-running legal battle with U.S. regulators, Telegram agreed to shut down its TON project, as well as return $1.2 billion to investors in line with a court-approved final settlement. As officially announced by Telegram CEO Pavel Durov, the firm had already reimbursed more than $1.2 billion by June 25.
Brock Pierce Enters The 2020 US Presidential Race
Brock Pierce, entrepreneur, crypto venture capitalist, and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated: “
“I, Brock Pierce, am running for President of the United States of America.”
Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if he is seeking a nomination in a political party or if he is running as an Independent.