According to a Bloomberg report, a list of strategies for the regulation of ICO (Initial Coin Offering) has been released by the a research group at Tama University, in Japan. The list also explains strategies to fully legalize the ICOs.
Guidelines for ICO Regulation
The list of guidelines includes regulations for:
- Tracking project development
- AML (Anti-Money Laundering)
- Identifying investors
- Protecting the debt holders and current detachment
The Financial Services Agency of Japan will be cautious on the proposal, as it could be ultimately made into the law just within few years’ time, Bloomberg reported.
The paper creates issuance rules, for example; defining and revealing methods following the development of white papers, and disclosing the possible impacts on debt holders, shareholders, and token investors. In addition to that, the paper specifies particular trading rules, including:
- Verification of customer’s identity
- Suitability (Know Your Customer)
- The allowance of industry’s wide-minimum standards on the listing of tokens.
- The restriction of biased trade practices such as insider trading.
Regulations will be Applied to Three Types of ICOs
While acknowledging that it is quite hard at this time to classify the whole legal ICO, as many are impending, the unidentified types might be still present. According to the paper, the rules will be applied to only three types of ICO:
- A large company type for in-house.
- A venture company type.
- An ecosystem type of joint exertions with numerous firms or government entities.
In the report, ICOs are clearly identified as securities and have the same position as the US SEC (Securities and Exchange Commission).
According to a researcher, Kenji Marashima:
“ICOs are groundbreaking technology, so if we can implement good principles and rules, they have the potential to become a new way to raise funding.”
One mentor of the study group is Takuya Hirai. He is a member of the leading Liberal Democratic Party, as well as, one of the planners of a regulation legalizing crypto-exchanges in Japan. Other members of the group are:
- Yuzo Kano, who is the head of bitFlyer Inc., which is the largest Bitcoin exchange in Japan.
- Mitsubishi UFJ Mizuho Financial Group Inc.
- Financial Group Inc.
- Sumitomo Mitsui Financial Group Inc.
The publication of these ICO-friendly guidelines is set against the positions of South Korea and China, as last year, both of these countries banned ICOs.
1 July 2017, 09:42 AM, entrepreneur Mark Cuban
Well-known entrepreneur Mark Cubam is now planning on switching to another cryptocurrency after dropping the value of the Bitcoin. Accordingly, your clue about the ethereum is absolutely wrong. It may be UnikoinGold.
By offering an initial coin, Cuban is going to participate in fundraising round of his company.
With more than 30 ICOs, ICO method gets popular this year. Companies effort in the different channel to enhance its capability. In that scenario, companies start to sell their own cryptocurrencies and use the return to boost their business fund.
In addition, including Asthon Kutcher, Unikrn has already erected $10 million from investors. According to the CoinDesk, these companies allow its users to place bets with its digital token.
Up to 1 billion UnikoinGold will be available for grabs and the registration for pre-sale will be started in the mid of the July.
Up to now, a company has to set down the Price of the UnikoinGold. Accordingly, investors will be able to start transactions under Ethereum’s token.
News credit: fortune.com
The so called bitcoin bull Tom Lee sees cryptocurrency market to experience a massive outflow before the cryptocurrency taxes closing. Tom Lee is considered to be an authority on the bitcoin as he is the Managing Partner and the Head of Research at Fundstrat Global Advisors. His views are considered to be quiet solid and authentic about the crypto business.
Alongwith the above predictions Tom Lee has also very optimistic views about the crypto currencies specially the bitcoin. According to him the current positive amendments and announcements about the cryptocurrency are the main factors that can undoubtedly act as a catalysts for the growth of bitcoin in the year 2018. He further predicted that at least 3 major publicly-traded corporations would short sure issue their own native digital tokens. And this prediction has been took serious in terms of valid crypto news as three major companies have already announced their efforts within crypto-currencies.
There are also clear indications that all the major financial corporations might start moving towards crypto-currencies before Wall Street makes its mind to do so. The Rakuten Coin is a well elaborated example of this progress, it was launched by the Japanese e-commerce company Rakuten. All these are the positive developments in terms of crypto market which are somehow related to the previous predictions made of Tom Lee.
Facts which do not Match Tom Lee’s Prediction
Though some of Lee’s predictions were a real good shot in the past but some of his famous flops in this regard should also be considered. For example the large sell-off in Bitcoin and other cryptocurrencies predicted by him at the start of this year was a total flop. The starting price of Bitcoin this year was above $17,500 which witnessed a rapid downfall to about $6,115 by February 6th. Though prices did recover with a steady pace but it was a shock for most of the investors which ultimately broke their heart.
Lee’s next price prediction for Bitcoin stands at $20,000 by June this year. He also gave a target of $25,000 for the end of 2018. Other famous prediction by Tom Lee included that the famous social media network Facebook and ecommerce platform Amazon will announce its own crypto strategy this year.
Other Examples Cited By Lee
Some other significant examples cited by Lee are as follows:
Line, the famous Japanese messaging announced that it is going to launch “Line Financial”. It will be a division allowing users to exchange digital currencies.
Expected use of the blockchain technology by Starbucks. Moreover Mark Zuckerberg also announce in an online post this January that his company would look into cryptocurrencies this year
What is Primecoin?
Primecoin is a form of cryptocurrency which is issued through a decentralized mining market. Primecoin is derived from Bitcoin and uses prime numbers as a proof of work. Moreover, Primecoin is the first ever cryptocurrency whose design comprises of the scientific computing as its work.
What Are The Advantages Of Primecoin?
The major advantages of Primecoin are:
- Provides more security and minting to the network
- Primecoin generates special chains of prime numbers which mathematical researchers often tend to use
- Primecoin’s design can sustain a high level of security
- Payment transactions are 10x faster than Bitcoin network
Primecoin Symbol – What Does It Represent?
Primecoin symbol is basically a Greek letter psi (Ψ). The shape of this letter symbolizes the Reimann zeta function and is chosen as a tribute to Reimann. The horizontal bar we see in the symbol not only represents the currency symbol convention but also represents one of the precious jewels in the history of math – Reimann hypothesis.
How Does Primecoin Work?
Primecoin works by searching for prime number chains. The chains’ names are Cunningham chains and bi-twin chains. As of now, the distribution of these prime chains is not very well understood as even for its simplest case, the nature of their infinite existence is not proven.
The circulation of primes has been a standout amongst the most vital revelations in math, and the investigation of prime chains follows its lineage to the work of Riemann and prime number hypothesis, with connections to the more profound nature of the seemingly arbitrary pattern of prime distribution.
Riemann’s investigation uncovered the connection between Riemann zeta function and prime distribution, though later on Riemann zeta function has proved to be of higher relevance in other branches of science such as physics, consequently the investigation of prime distribution is a vital piece of the establishment of present day sciences.
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