SEC Open To Initial Coin Offerings

In an interview with SEC Commissioner, Robert Jackson, revealed that they are not looking into banning Initial Coin Offerings, but stressed that there should proper mechanisms in place to protect investors.

He said that the agency remains open to a legal way to raise money in crypto.

The SEC views ICO as securities which are supposed to be bound to security laws.

This is needed because investors are having a hard time distinguishing from legitimate investment to outright fraud.

30% Discount On Crude Oil Prices For Petro Users

A local Indian news outlet, Business Standard, reveals that India could get 30% discount on crude oil if and only if they purchase the said goods with Venezuela state-issued Petro coin.

The source of the information came from the CEO of Coinsecure Mohit Kalra, which also reveals that this offer is not only offered to India but to several countries as well as there is a Venezuelan Blockchain department team doing the rounds to the undisclosed countries.

Petro was launched on Feb. 20, 2018 and said to have raised more than $3.8 billion with participants coming from 127 different countries.

Circle Invest List Zcash To Compete With Coinbase

Zcash have been added in the trading platform of Goldman-Sachs-baked fintech startup Circle in its bid to compete with Coinbase.

Initially the Circle trading app which was released last March supported Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ethereum Classic (ETC).

Zcash is a decentralized and open-source cryptocurrency that is privacy centric providing strong privacy protection of the sender and the recipient as well as the amount in their transaction.

NSA whitleblower, Edward Snowdon cited Zcash as a good alternative to bitcoin and Grayscale investments predicts that Zcash could reach $60,000 by 2025 if investors begin to use it in place of traditional offshore banking services.

US Central Bank Likens Bitcoins To Regular Currency

Content strategist of Federal Reserve Bank of St. Louise, Christine Smith said that Bitcoin is like “regular currency.”

First it is not backed with anything similar to the US Dollars hence it has no intrinsic value. Second both of their supply is limited.

There will only be 21 million bitcoin that will ever be created while does not have a fixed amount they will always want to limit its supply to maintain value and provide stability.

Lastly there are both decentralized in the sense how Cash is spent requiring no intermediary to process transaction.

South Korean Company Offers To Protect ICO Investors

The Korea M&A Center is launching a new platform with the primary purpose of protecting ICO investors.

The platform is called ESC Lock which serves like an escrow services in which investors will be able to send their investment to ESC Lock and the ICO issuer their ICO Tokens.

ESC Lock will only release deposit investments to ICO issuers when certain conditions are met or else ESC Lock will return funds to the investors.

This service can provide a lot of legitimacy to ICO albeit to Korea only as it is only offered in the said country.

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