The Digital Asset Review
AUGUST 13, 2019

"Overstock is opening up trading on its security token market, tZERO, to all comers.

Retail investors will be able to trade on the platform starting Aug. 12, tZERO CEO Saum Noursalehi told CoinDesk. At that point, the one year lock-up period for tZERO’s 2018 security token offering (STO) will pass.

While the platform went live in January, only accredited investors – wealthy individuals and institutions – have been allowed to trade on it until now."

"In addition to the announcement that trading would halt for customers in the United States, Binance announced a bold move to launch Binance US compliant with more stringent American regulations. By working with BAM Trading Services, Binance would form a new U.S. based firm that would comply with FinCEN, anti-money laundering (AML), and countering finance terrorism (CFT) regulations, among others.

Binance US licenses Binance’s wallet and matching engine technologies."

"Seychelles just a few years back has been flagged for the lack of transparency of its financial sector with the OECD in 2013 categorizing it as non-compliant in terms of tax transparency. Since then the government has taken several steps and implemented a range of regulations to strengthen the sector.

MERJ is aiming to use Ethereum and believes that the technology behind the cryptocurrency is much better suited to tokenized securities than Bitcoin. The initial listing will be very soon followed by a second tokenized offering within days. "

"Canadian instant messaging company Kik Interactive filed its response in US District Court for the Southern District of New York to the SEC’s Complaint denying the alleged violations of the U.S. Securities Act for failing to register its 2017 distribution of its Kin tokens.

Eileen Lyon, Kik’s General Counsel commented:

'Since Kin, a currency is not itself a security, the SEC must show that it was sold in a way that violates the securities laws. The SEC had access to over 50,000 documents and took testimony from nearly 20 witnesses prior to filing its Complaint, yet is unable to make the case that Kik’s token sale violated the securities laws without bending the facts to distort the record.'"

"The target given is based on Elliott Wave Theory, which forecasts market trends by identifying extremes in investor psychology, along with price highs and lows.

According to the analyst, Bitcoin will rebound from support around $11,094, leaving room for at least one leg higher towards $12,916 and $13,971. This could complete a V wave count from July, producing a short-term top or consolidation.

Potentially, the analyst suggests, this could be the first leg of a five wave count. This would mean that any retracement from $12,916-$13,971 levels presents a buying opportunity, as after the consolidation period, price could once again resume higher unless it goes below the previous recent low of $9,084."

"According to Nikkei Asian Review, the aim is to stem the movement of funds for illicit purposes, such as money laundering and funding of terrorism, by collecting and sharing transaction data, as well as the personal information of cryptocurrency users.

FATF, the international money-laundering watchdog, is claimed in the report to be managing the project, which is slated to be finalized by next year and live within several years. The 15 nations, including the G7 members, Australia and Singapore, would develop the system, says Nikkei."

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