Blockchain Asset Weekly (31 August 2017)

Gatecoin news & views

New tokens listed on Gatecoin

Gatecoin is pleased to announce support for the following projects by listing their tokens on our exchange:

  • InvestFeed (IFT) — a cryptocurrency social network
  • MobileGo (MGO) — a cryptocentric mobile gaming platform
  • 0x (ZRX) — an open protocol for decentralized exchanges built on ethereum

All the above tokens can be traded with BTC and ETH.

All new ATHs!

The price of bitcoin and litecoin soared to all-time highs (ATHs) this week, rising above USD 4700 and USD 65 respectively. Many market watchers pointed to the surging volumes on exchanges based in South Korea as a major cause for these price rallies, which our Head of Marketing speaking to CNBC believes is due to regulatory developments in the nation.

Canada clarifies guidelines for token sales

Canada, obviously one of the most important financial markets in the world, published a detailed report on cryptocurrency offerings which included very specific guidelines for technopreneurs looking to raise capital through token sales.

Prepared by the Canadian Securities Administrators (CSA), this is the only communication so far from any regulator that explicitly describes the legal obligations of token issuers. In short, token issuers should follow existing Canadian security issuance requirements, regardless of the token’s value proposition, or apply for an exemption. Past announcements from the U.S. SEC or Singapore’s MAS contained no concrete guidelines and their recommendations were ambiguously broad, which can be summarized as “hire a lawyer.”

Gatecoin is not impacted by the CSA’s announcement given that we have no operations in Canada and have not listed any tokens tied to a Canadian legal entity. In fact, we are glad that a regulator finally spelled out exactly what they want from token issuers.

China’s regulators expected to release guidelines for token sales

As reported by Tencent Finance and China’s leading financial media organization Caixin, regulators in China are currently discussing the development of guidelines for token sales conducted in the country. This may include limits on the size of token sales, more stringent information disclosures and the publishing of regular investment risk alerts.

The National Internet Finance Association of China subsequently released a statementcalling for greater due diligence and risk assessment of token sales.

Gatecoin believes such guidelines will be positive for the future development of the blockchain ecosystem in China.

The Securities and Futures Commission (SFC) of Hong Kong, where Gatecoin is based, has yet to release any communications regarding the requirements for token sales conducted in the Special Administrative Region (SAR) which has different legal and regulatory regimes to the rest of China.

Current price and 24h volumes for selected trading pairs on Gatecoin

Weekly Blockchain Asset Performance Comparison (31 August 2017)

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Voices from our community

Why I Was Wrong About Segwit And Big Blocks by Jimmy Song, Bitcoin Developer

Decentralized social media is peer-to-peering into the future by Jake Brukhman, Co-Founder of Coinfund

We need more public due diligencefor ICOs by Stefano Bernardi, Managing Partner Mission & Market

Ethereum blockchain dominates CoinMarketCap by CryptoPortfolio

What we’ve been reading

Central Banks Can’t Ignore the Cryptocurrency Boom (Bloomberg)

Why Quantum Computing’s Threat To Bitcoin And Blockchain Is A Long Way Off (Forbes)

Why initial coin offerings are exploding — and how companies can avoid the landmines (Silicon Angle)

Want blockchain success? Developers, developers, developers (VentureBeat)

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Many thanks,

The Gatecoin Team

Risk Disclaimer

Trading blockchain assets such as bitcoin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade blockchain assets you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with the trading of blockchain assets, and seek advice from a licensed financial advisor if you have any specific concerns.

Blockchain Asset Weekly (31 August 2017) was originally published in Gatecoin Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.