ICO Action Plummeted

ICO action was significantly down in September, according to a study by Autonomous Research. The firm wrote:

Last month saw roughly $300 million in ICO funds increased, together with the month before that revised into a little more than $400 million, a far cry from the $2.4 billion in January of this year. If we include other chunky private increases and EOS, the highs go to over $ 3 billion, suggesting that monthly ICO activity is down 90%.

Without taking »EOS and other chunky private token » data into consideration, the amount of ICO funds raised was down 88.53 percent last month from January.  Otherwise, the drop reached 90.7 percent.  « We have scrubbed token offering data from September, and the trend continues generally to be down, » the company emphasized.

Founded in 2009, Autonomous Research is an independent research firm offering international investment research in the banking, investments, insurance, finance, and information service businesses and best way to get bitcoin into ignition casino. Autonomous Next is the firm’s London-based practice focusing on »the effects of technology on the future of finance, » the firm’s website details.

Investors Losing Interest in ICOs

Autonomous Research noted three reasons that could explain the drop in sale action that was token. « First, perhaps investors have devalued the concept of purchasing a utility token (does nothing however, lawfully non-binding), and instead want to purchase equity in the exact companies, » the company wrote.  By analyzing »Pitchbook’s data on blockchain and bitcoin venture capital raises, » the firm found:

A effect is in venture as well, with drips of funds, reaching over $1 billion in August 2018.

The firm believes that there are two reasons for this observation: »fintech businesses like Robinhood and Revolut pivoting into crypto » and »Bitmain trying to vacuum up capital before the public offering. »

Security Token Offerings

The second factor for the drop in ICO activity concerns security token offerings (STOs). According to the U.S. Securities and Exchange Commission (SEC), ICOs could be securities offerings and fall under its jurisdiction.  « STOs are the newest ICOs, » wrote blockchain adviser Michael K. Spencer, elaborating that »security tokens are real financial securities. »

Citing that investments in security token offerings haven’t grown to advantage, Autonomous Research emphasized:

STOs will not hit on the market in earnest for another due to regulatory indigestion.

The last reason the firm put forward relates to »the collapse/crisis in Chinese P2P lending since 2015, and whether that risk-seeking capital wound up in ICOs. »

Token sale action remains, while China attempted to shut down all service providers of cryptocurrencies and ICOscasino us player bitcoin bitcoin casino with free spins bonus The People’s Bank of China (PBOC), the nation’s central bank, admitted last month that a number of crypto trading platforms initially set up in China have left the country to operate overseas but continue to give service to national users. In August, news.Bitcoin.com reported that P2P crypto lending grows increasingly common in China.

Can you think ICO activity will pick up soon? Let us know in the comments section below.

Pictures courtesy of Shutterstock and Autonomous Research.

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Source: bitcoincasinoreview.net

JBA Replaces JADA

Founded in mid-April, the JBA replaces the prior Japan Association of Digital Asset (JADA), that has been active in the sector since July 2014.

The new group consists of high-profile members of the Japanese blockchain industry in addition to member of Parliament (and long-time Bitcoin proponent) Mineyuki Fukuda and Japan’s primary financial regulator the Financial Services Authority (FSA).

Speaking to Bitcoin.com, JBA’s Head of Global Affiliations and Partnerships Ayako Miyaguchi stated both JADA and the authorities had received requests for a nationwide blockchain industry association.

« JADA was more focused on self regulations as it had been necessary for the industry to gain trust from the public about bitcoin at that time, » she explained, adding:

Blockchain covers advantages that are wider beyond money and settlement. There was a need for us to address those at the exact same time as securing healthy regulations working with government authorities and bitcoin online casino australia.

Rival Groups Have Similar Aims

There was perhaps some confusion this month with the launch of a rival group within Japan, called the Blockchain Collaborative Consortium (BCC) around the exact same time. Both groups share a common goal in developing and nourishing Japan’s blockchain sector .

JBA will maintain standards-setting mission and the advocacy as JADA, though with a view the issues blockchain technology can affectignition casino circle bitcoin bitcoin casino with free play mode Miyaguchi said, however, that all present and future businesses in the blockchain companies would be advised to join JBA. She continued:

We’re the point of contact to authorities, in addition to global associations including the International Blockchain Forum.

Structure & Mission

JBA will have two branches: one dealing with virtual currency and the other with blockchain technologies generally. The former group — which concerns customer, tax and financial regulatory issues — comprises bitcoin exchanges like Kraken, bitFlyer and Coincheck.

The group — which concerns definition and policy suggestions for non-currency blockchain technology — includes payments gateway GMO Internet Group, Microsoft Japan cloud computing platform Orb and blockchain identity startup Soramitsu.

The team’s primary aims are to:

• Apply blockchain technology to social infrastructure and policy recommendations;
• Establish guidelines for bitcoin and other electronic currency exchanges;
• Facilitate communication between the business and government departments such as the FSA, the Ministry of Economy, Trade and Industry (METI), the Consumer Affairs Agency and the National Police Agency and the Tax Bureau, in addition to other banking and financial industry groups.

The Association communicate with similar and related industry groups, organize promotional events, speak to similar industry groups globally, and will also promote and support its member businessesCloudBet rating counts large players in the obligations and financial space as official supporters, including Deloitte, Thomson Reuters, credit card company, and VC investors SBI Holdings JCB.

Keep an Eye on Japan

Thanks to the technology to its approach and the generally open-minded attitude of the government, Japan could be fertile ground for electronic currency and blockchain businesses.

News about the industry can be tricky to find, though, with reports gaining prominence on networking and news aggregators.

English language news reported that the government considered legislating, or had already legislated, that Bitcoin would be defined as an official currency in the country.

That is not the case, Miyaguchi said. So as to draft the most suitable laws in future bitcoin is not yet an official money in Japan but the government has identified a need to be described as something similar.

Can Japan be a world leader in developing digital currency and blockchain technology? How important are industry groups such as BCC and JBA?

Images courtesy of itpro.nikkeibp.co.jp, Shutterstock

Source: bitcoincasinoreview.info

JBA Replaces JADA

Founded in mid-April, the JBA replaces the former Japan Association of Digital Asset (JADA), which has been active in the industry since July 2014.

The new group consists of high-profile members of the Japanese blockchain sector in addition to member of Parliament (and long-time Bitcoin proponent) Mineyuki Fukuda and Japan’s main financial regulator the Financial Services Authority (FSA).

Speaking to Bitcoin.com, JBA’s Head of Global Affiliations and Partnerships Ayako Miyaguchi said both JADA and the authorities had received requests for a nationally blockchain industry association.

« JADA was more focused on self regulations as it was necessary for the industry to gain trust from the public about bitcoin at that time, » she said, adding:

Blockchain covers advantages that are wider beyond settlement and currency. There was a need for us to address those at the same time as securing healthy regulations working with government authorities and bitcoin online casino australia.

Rival Groups Have Similar Aims

There was perhaps some confusion this month with the launch of a rival group within Japan, known as the Blockchain Collaborative Consortium (BCC) around the exact same time. A common goal is shared by the two groups in developing and nourishing Japan’s blockchain industry despite their differences in leadership.

Though with a wider view the issues blockchain technology can affect JBA will maintain the advocacy and standards-setting mission as JADAbitcoin casino free spins 2018 bitcoin casino software prices Miyaguchi stated that eventually all present and future businesses in the blockchain companies would be advised to combine JBA. She continued:

We’re the point of contact to governmental authorities, in addition to global associations including the International Blockchain Forum.

Structure & Mission

JBA will have two branches: one dealing with virtual currency and the other with blockchain technologies generally. The group — which worries tax, customer and financial regulatory issues — comprises bitcoin exchanges like bitFlyer Kraken and Coincheck.

The group — which concerns definition and policy proposals for non-currency blockchain tech — includes blockchain identity startup Soramitsu, payments gateway GMO Internet Group cloud computing platform Orb and Microsoft Japan.

The group’s primary aims are to:

• Apply blockchain technology to social infrastructure and policy guidelines;
• Establish guidelines for bitcoin and other electronic currency exchanges;
• Facilitate communication between the business and government departments such as the FSA, the Ministry of Economy, Trade and Industry (METI), the Consumer Affairs Agency and the National Police Agency and the Tax Bureau, as well as other banking and financial industry groups.

The Association communicate with similar and related industry groups, organize promotional events, talk to similar industry groups globally, and will also promote and encourage its member companiesBetcoin rating counts several players in the space as official supporters, such as Deloitte, Thomson Reuters, VC investors SBI Holdings, and credit card company JCB.

Keep an Eye on Japan

Thanks to its approach and the government attitude to the technology, Japan could be fertile ground for digital currency and blockchain businesses.

News about the industry can be tricky to find, though, with reports frequently gaining prominence on news aggregators and networking.

English language news had already legislated, that Bitcoin would be defined as an official currency in the country, or reported the government considered legislating.

That is not yet the case, Miyaguchi said. Bitcoin is not yet an official money in Japan but the government has identified a need to be described as something in order to draft the laws in future.

Can Japan be a world leader in developing digital money and blockchain technology? How important are industry groups like BCC and JBA?

Pictures courtesy of itpro.nikkeibp.co.jp, Shutterstock

Source: bitcoincasinoreview.net

The First Rejection

The Japanese Financial Services Agency (FSA) is reportedly preparing to reject an application to operate a crypto exchange in the nation. « The very first time it has done so, » Nikkei reported, including:

The decision follows the ministry’s decision that Yokohama-based FSHO lacks the necessary systems to run its business…By barring an exchange operator that it has found to be substandard, the agency aims to demonstrate its determination to re-establish a solid currency trading environment in Japan.

FSHO is a »deemed dealer » or »quasi-operator » of cryptocurrencies in Japan, meaning it’s been allowed to operate a crypto market while its program with the FSA has been reviewed. There are 16 deemed dealers. However, the agency said recently that 8 of these have indicated that they will withdraw their applications and best bitcoin live casino online with manual flushing.

Japan has 16 cryptocurrency exchanges that are fully-licensed and about 100 companies are currently seeking to enter the space including Yahoo! Japan, Line Corp, and CoinbaseTrusted 1xbitcasino >Suspended with Corrective Orders

Besides FSHO is the only crypto exchange in Japan to receive two penalty orders.  The first was on April 6 on March 8 and the second.

In the March order, the agency issued the company a business improvement order and suspended all of the businesses of FSHO linked to cryptocurrencies from March 8 to April 7. The company was advised to correct four areas of operations such as to »Build a position to safely manage user information. » The measures taken were to be submitted to the agency by March 22.

Rejection to Follow Secondly Suspension

From the April order, the agency suspended all operations regarding cryptocurrencies of the business from April 8 to June 7 and issued another business improvement order.

This order includes five business improvement areas, some of which were just like those in the first order. One of new areas are the »Establishment of a successful management system such as money laundering and terrorist financing » and a risk management system.  The company was supposed to report the adjustments to the agency by May 7best casino online bitcoin best bitcoin casino us reddit on its review, the FSA found that »the trade did not sufficiently verify the identity of customers in trades where crime is suspected, or in cases where consumer deposits may be redirected, » Nikkei summarized, adding that:

The suspension period is due to end Thursday, and the agency deny its registration and will bar the exchange from working.

What do you think about this FSA finally rejecting a crypto exchange enrollment? Let us know in the comments section below.

Pictures courtesy of Shutterstock, FSHO, and Nikkei.

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Source: bitcoincasinoreview.net