• Congressmen call for crypto clarity
    Cryptocurrencies,  Politics

    Congressmen call for crypto clarity in letters to the SEC and Treasury

    Reps. Tom Emmer and Warren Davidson warn that a lack of regulatory clarity, and rumors of a clampdown on self-hosted wallets, are stymying innovation in the U.S.

    Rep. Tom Emmer (R-MN) penned the missive to the SEC, urging the regulator to provide the clarity needed for banks to provide custody services for digital securities. Meanwhile, Rep. Warren Davidson said he had sent a letter to Mnuchin “strongly encouraging him to consult with Congress before issuing new regulations that govern the use of digital self-hosted wallets.”

  • Where the magic happens: The Securities and Exchange Commission's Washington, DC headquarters (via Shutterstock).
    United States

    SEC’s long-awaited ICO guidance didn’t change anything, says Wall Street Blockchain Alliance’s Joshua Klayman

    Crypto investors who thought the agency’s plain English guidance would suddenly free them from securities laws were unrealistic

    The Securities and Exchange Commission’s much heralded “plain English” guidance on what makes an ICO a security wasn’t the good news many people thought it was. That is, wrapped in nicer language, the conclusion reached on May 16 by the Wall Street Blockchain Alliance, which had 11 attorneys and its chairman, Ron Quaranta, studying the document for nearly six weeks.

  • typewriter
    Alt coins,  Bitcoin,  Ethereum,  Media,  United States

    Must-reads for September 27, 2018: Fake volume, low volume, and other bad choices

    Here are the crypto stories you should be watching today

    Crypto’s Open Secret: Its Multibillion-Dollar Volume Is Suspect (Bloomberg via Yahoo Finance) Nearly two months ago, we wrote about BitForex, the Singapore-based exchange with suspicious trade volumes and a horrible logo. Bloomberg has finally caught up to Modern Consensus and they have some more details about it. Why would BitForex do it? “Transaction mining, also known as trade mining, is a controversial practice. On BitForex, users earn the equivalent of $1.20 in digital tokens issued by the exchange for every $1 they pay in transaction fees. It’s a system that critics say is tailor-made to encourage wash trading — in which a trader, or a team of traders, buy and…