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IBM and Stablecoins, Japan and New Laws, SEC Plans

03/18/2019
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  • Japanese_cryptocurrency
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IBM is preparing to launch the platform on stablecoins; Japan is amending cryptocurrency laws. SEC can equate some stablecoins to securities.

IBM is exploring the possibilities of stablecoins for payments between banks

Jesse Lund in her interview to the channel Cheddar spoke about the prospects of stablecoins for making payments between banks. The head of the blockchain development direction said that they could simplify the settlements at the transnational level. And now it is the market demand that makes IBM promote this direction.

A new product may be launched in the Blockchain World Wire payment system, but now the company is working on another project. It is based on the solution from Stellar, which allows making calculations in various cryptocurrencies, but in a single digital space.

IBM is exploring the possibilities of stablecoins for payments between banks

Innovations in the regulation of the Japanese cryptocurrency market

Japanese authorities have proposed several changes to the rules governing the market for digital financial assets. Especially important news concerns the rules of the operation of cryptocurrency exchanges. Now they must have their own reserves. This will protect the interests of customers in case of hacking software.

In addition, all exchanges will have to keep clients' funds exclusively in cold wallets, which will provide additional security guarantees. And the cryptocurrencies themselves will receive a new name - “cryptographic asset”. This is done so that customers do not confuse them with other financial instruments. And it is precisely this terminology decided to adhere to at the G20 summit.

Whats new in cryptoregulation

Innovations in the regulation of the Japanese cryptocurrency market

SEC can tackle the regulation of some stablecoins

SEC senior adviser Valeri Szczepanik reported that certain types of fixed-rate cryptocurrencies could be regulated by the Securities Commission. This applies to assets whose course is pegged to a whole set of various financial instruments.

The adviser believes that each company should contact the SEC for advice before issuing tokens. The regulator does not distinguish between stocks or cryptocurrencies, if the issuer in one way or another can affect the value of the asset. Thus, the project of algorithmic stablecoin Basis in 2018 was forced to stop working due to the requirements of the SEC. It was forced to return funds to customers due to falling of tokens into the category of “security”.

SEC can tackle the regulation of some stablecoins

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