Swiss cryptocurrency bank Sygnum tokenized its shares in preparation for its IPO. This would be the first bank to tokenize its shares and will be doing so on the Ethereum blockchain.
Cynthia Lummis, Wyoming Senator Elect, is pushing for further education and exploration of crypto and its use-cases. Lummis has stated multiple times that when fiat fails, crypto will help the economy recover, and she encourages to allow a clear pathway for Bitcoin to develop and be incorporated alongside fiat currency.
Mt. Gox filed for rehabilitation to receive compensation for stolen funds and at pay back its users. The draft rehabilitation plan has been postponed multiple times and now is being reviewed by the Tokyo District Court.
Robert Farkas will spend a year in prison following his 2017 ICO, in which he paid stars such as Floyd Mayweather and DJ Khaled to promote it. The ICO was for Centra Tech, a fake crypto investment firm. The stars also faced legal trouble for failing to inform the public that they were paid for this promotion.
Germany has legalized digital securities, eliminating the need for a paper certificate. Olaf Scholtz, Germany's Finance Minister, stated: “The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version.” This is part of a wider push in Europe to adopt blockchain solutions in finance and governance.
Bitcoin broke through $20K for the first time in its history. At the time of writing, the price is at $23K, $3k above what analysts supposed it would achieve, and it is still expected to go higher. This move caused big waves throughout the industry, including a surge in our parent company's stock [Nasdaq: $EQOS].
Coinbase announced that it has filed for an IPO with the SEC. Their last valuation was worth $8 billion in 2018, and the SEC is reviewing their Form S-1. They would be the second crypto exchange to be publicly traded, following us, when our parent company, Diginex [Nasdaq: $EQOS], was listed in late September.
The World Economic Forum's cryptocurrency group published its first crypto review, which covers many cryptocurrencies through short summaries of their goals, implementations, and use cases. The foreword was written by Meltem Demirors and Cuy Sheffield.
Microsoft announced they will be incorporating the Ethereum blockchain to manage gaming royalties. The incorporation will increase transparency in tracking, payments, and general processing for royalty contracts.
Recent rumors have sparked concern that Steven Mnuchin, US Secretary of the Treasury, could pass legislation that would limit or ban crypto self-custody. Crypto-friendly political figures such as Cynthia Lummis have expressed concern over the harmful effects this action could have on the industry. Lummis stated: “I am deeply concerned that the Treasury Department is considering a hasty rule governing self-hosted digital asset wallets and the Bank Secrecy Act (BSA), Rather than prematurely adopting a rule on this complex topic, Treasury should immediately begin a transparent process to engage with Congress and industry, building a consensus to drive America forward.”
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