CoinSheet - Jul 28, 2017
CoinSheet - Jul 28, 2017
◤WHAT PEOPLE ARE TALKING ABOUT
Securities Exchange Commission (SEC): Yesterday, the SEC issued an investigative report concluding that DAO Tokens, a digital asset, were securities. Let me try to break that down for ya.
Things the SEC concluded
That DAO tokens, tokens that promise a return on your investment, are securities.
Things the SEC did not concluded
That all Ethereum ICO tokens are securities.
That's really all you need to know about this. So what's the conclusion? Here, I'll let you read it for yourself.
In light of the facts and circumstances, the agency has decided not to bring charges in this instance, or make findings of violations in the Report, but rather to caution the industry and market participants: the federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies, and regardless whether they are distributed in certificated form or through distributed ledger technology.
Here's the tl:dr, deciphered version.
Oh, on a releated note, you should read this, the investor bulletin on initial coin offerings.
In Nostradamus News: Goldman Sachs predicts that Bitcoin may eventually reach a new high over $3,600. Thank you Goldman, for that tidbit of knowledge. I'm sure you mustered up every resource at your disposal to come up with such peculiar conclusion. That analysis, such insight, much wow.
In Adoption: A Russian airline Is now using blockchain to issue tickets.
Oh, and CoinMarketCap has hit over 1000 cryptocurrencies! Yay! Moon party time!
◤THINGS I LIKE
This medium article that goes over the Securities Exchange Commission (SEC), Initial Coin Offerin (ICOs), and you (take a look in the mirror).
This article by Joseph Foulds about the Enterprise Ethereum Alliance (EEA) and cryptocurrency adoption in India.
◤MARKET SENTIMENT
Tons of bearish signaling that is likely due to all the uncertainty surrounding Bitcoin.
◤QUOTE OF THE DAY
“Success usually comes to those who are too busy to be looking for it.”
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