Today, February 6, 2018, the prospects for coherent U.S. regulation on cryptocurrencies became a little more clear, as were the impasses that were frustrating progress on the issue. The Senate Committee on Banking, Housing and Urban Affairs (the “Committee”) heard joint testimony from the heads of both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The written testimony from Jay Clayton, chairman of the United States Securities and Exchange Commission (SEC), was released on February 5, 2018.
The European Securities and Markets Authority (ESMA) today issued two separate statements that outline what it perceives as the risks initial coin offerings (ICOs) pose for investors and startups, respectively.
Striking a concerned tone on the nascent state of the market, ESMA warned investors that the use of custom cryptocurrencies for fundraising comes with a "high risk" of capital loss. Adding to that, the authority alerted that ICOs may fall outside of EU laws and regulations, which in turn does not benefit investors.
UBS has some advice for investors looking to capture the rising interest in blockchain: invest in the companies that will spur adoption or be among the first to apply the tech.
The financial services firm's new report, "Cryptocurrencies – Beneath the bubble," dives into both cryptocurrencies and wider applications of blockchain in the enterprise space. It notably declares that, in the view of UBS analysts, "the sharp rise in crypto-currency valuations in recent months is a speculative bubble.
Technological advancement has elevated the internet as one of the most important elements in human existence as far as the 21st century is concerned.
Almost every aspect of national development is dependent on one area of the internet or the other. This includes aspects such as education, politics, internal and external security, innovation and several other areas.
High-speed internet is crucial for development of West Africa
In recent times, there has been a substantive correlation between the industrial and economic growth of nations and their respective advancements within the cyber space.