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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.
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.
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
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”.
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LH-CRYPTO is an online service for crypto-traders. The service is available to everyone, except for the citizens of particular countries and several categories of people listed in the License Agreement. LH-CRYPTO is a free software for making conversion operations with CFDs on various financial assets nominated in cryptocurrencies.
The project does not manage funds and does not guarantee profits. The project only offers a service that allows to make conversion operations with cryptocurrencies on a specially configured software.
This website is maintained and supported by the following legal body:
LOW AND HIGH IT LTD
All the settlements in this project are processed solely in cryptocurrencies. Conversion operations are processed on the terms of margin trading without a direct supply of underlying assets. According to the generally accepted term, these operations are called operations with OTC (over the counter) CFDs (contracts for difference).
Trading with OTC CFDs involves considerable risks. We recommend you pay the utmost attention to both theory and practice of margin trading before making any of such operations.
The services provided by this project are not available for: residents of USA, France, North Korea, Spain, Sudan and Syria.