Crypto News - Not In Mainstream Media
Yes dear reader, more news that will never be on the 10 o'clock news; first regarding stablecoins - in my view the centralised system trying to fight back. These are crypto assets linked to real commodities, like the oh so safe price of gold or the remarkably steady US dollar. It is the fastest growing sector of the crypto space [according to Medium.com] with $186 billion worth of stablecoins. Expect more Governments to introduce their own and remind us of the awful instability of real cryptocurrencies.
Such a relief to know the banks don't rip us off with deposit rates and that the stock market is such a gentle place to invest our money.
The one good thing about stablecoins - in my view - is that it brings closer the date when Blockchain technology moves to the mainstream. Now that is good.
In the birthplace of crypto, the US, the war continues between the regulator, the SEC and any and all usurpers. Initial Coin Offerings [ICOs] are regarded by the centralised system as a major threat, given that companies no longer need to list on Wall Street or the NASDAQ. The SEC has been picking off some easy targets recently but came a-cropper last week when a Californian Court ruled against the SEC and in favour of ICO Blockvest. This is really good news and will offer hope to ICOs everywhere.
Finally, for now, SEC Chairman Jay Clayton has [ruefully] confirmed that Bitcoin [or all cryptos] is NOT a security:
"Cryptocurrencies are replacements for sovereign [fiat] currencies...they replace the dollar, the yen, the euro..."
About time! So many stories which the centralised media have reported, involve raids by regulators on firms dealing in the crypto asset space citing securities fraud as their excuse.
I suspect Mr Clayton will receive fewer Christmas cards this festive season.
He will get one from me...