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  • The Philippines are about to take a big step towards protecting their citizens from the potential of initial coin offering (ICO) scams.

    Thursday 13th June 2019 11:53pm

    The Securities and Exchange Commission (SEC) says it hopes to put out guidelines and regulations for ICOs in 2019, BusinessWorld reported.

    The push to regulate ICOs are part of the SEC’s natural push to regulate new financial products, but has been made more urgent by their key role in many scams. SEC chairperson Emilio B. Aquino noted:

    “We want that out already because these are additional products. But at the same time [our concern is], some of the scams here are saying they are into crypto and all that. They’re just adding additional problems.”

  • Square hires former Google director as first member of its crypto team

    Thursday 13th June 2019 11:49pm

    Square Crypto, the company’s crypto division, has been looking to hire, with its founder and Twitter CEO Jack Dorsey making the announcement in March. Dorsey stated that the company would hire 3-4 engineers and one designer. The team would work full-time on open-source contributions to the crypto ecosystem and could even work remotely.Steve Lee has become the first member of the team. Square Crypto announced its first employee on Twitter, describing him as someone who can “live up to his commitment to decentralization.”
  • More real business utility for the only blockchain that scales

    Thursday 13th June 2019 11:43pm

    In another cryptocurrency first, you can now secure loans against your Bitcoin BSV. Chicago-based DrawBridge Lending now offers BSV non-recourse loans with no margin calls. Not in the future but today, as DrawBridge CEO Jason Urban explains: “Recently, we loaned an entity a seven-figure sum secured by BSV and BTC posted with a third party regulated custodian. The interest rate on this transaction was 3%, well below standard market rates. We are able to lend the money at this rate by putting the collateral to work with the use of standard derivative option strategies.”