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Blockchains and Bagels Daily Market Roundup – 06.07.2018

SEC Chairman, Coinbase, Huobi

Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, in an interview with CNBC, SEC Chairman expressed his view that digital currencies are not securities and reiterated his stance on regulation for tokens. Coinbase has acquired numerous licenses and is seeking regulatory approval.

SEC Chairman does not view Bitcoin as a security

In an interview with CNBC, SEC Chairman Jay Clayton expressed his view that Bitcoin and other digital currencies are securities. He does not have the same outlook for tokens. Clayton views any asset used to raised funds as a security and should be regulated by the SEC.

Coinbase continues with regulatory push acquiring numerous licenses

The US-based exchange has announced the acquisition of a broker-dealer license, an alternative trading system license, and a registered investment advisor license. This will bring them under the oversight of the SEC and FINRA upon approved.

Circle Internet Financial is seeking a federal banking license

The Goldman Sachs backed digital currency platform is seeking a federal banking license. In Circle’s view a banking license will be more difficult to acquire in the short run but it will simplify regulatory conversations in the long run. The company also intends to register as a brokerage and trading venue.

Huobi exploring the possibility of becoming decentralized

The Singapore-based exchange is laying the groundworks for Huobi Chain. The company has invested US$ 100 million into building its own blockchain and will move its operations onto the chain once complete. The exchange intends to migrate its management structure to a decentralized autonomous organization.

Around the network

Through the headlines

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