Crypto Newsletter 1/9: Blockchain Becomes Boring
It’s a new year, and Bitcoin just turned 10 years old. What can we expect in 2019? Howard Marks provides some SEC-specific predictions in his latest article for Hacker Noon. He believes that this year enforcement will continue for both companies that conducted unregistered ICOs as well as unregistered trading platforms. The repercussions of ignoring security laws the past few years are just beginning, and it will be a while before we see the thawing of crypto winter and the first shoots of spring.
However, there is a positive side: this year, Marks believes that the first Regulation A+ STO will be qualified by the SEC, something that many applicants have been waiting the better part of 2018 for. Marks also thinks that the SEC will approve new trading platforms for digital assets, including broker-dealers dedicated to tokenized assets, and the first crypto ETFs will be approved and brought to market. While some will face fines and closure in the new year, other players will enter the market in a fully compliant fashion to replace them.
Or maybe MIT is right: in 2019, blockchain becomes boring.
What’s Happening In the News
The Intercontinental Exchange’s crypto project Bakkt announced a raise of $182M. The Intercontinental Exchange operates several global exchanges, including the New York Stock Exchange.
tZERO, a portfolio company of online retailer Overstock, won a patent detailing how it will integrate cryptocurrencies and digital asset tech with legacy trading systems.
Two senators proposed a bill that would exempt digital tokens from securities laws, provided the tokens have consumptive value and are not bought as speculative investments.
DX Exchange launched this week with several crypto-to-crypto and crypto-to-fiat pairs and announced plans to list major tokenized stocks including Amazon, Baidu, and more. DX Exchange is powered by Nasdaq’s Financial Information Exchange protocol. The exchange is only available in Europe, but plans to add US customers this year.
Articles We Read (And You Should Too)
In a cheeky letter, Peter McCormack writes to “Mr. Bank Manager” and explains the benefits of cryptocurrencies in layman’s terms. He then proposes the two courses of action left to finance’s incumbents: ignore it or adapt.
In a guest post for Wired, Andreessen Horowitz general partner Chris Dixon discusses how blockchain can create a safer internet, and one where “don’t be evil” is replaced by “can’t be evil.”