Author: Editorial Office CVJ.CH

A start-up from Crypto Valley enables the first automated transaction of Crypto Assets between two financial intermediaries in Switzerland, in compliance with the Money Laundering Ordinance of the Swiss Financial Market Supervisory Authority FINMA. In June 2019, the FATF, the global supervisory authority for money laundering, published its guidelines for handling virtual currencies. These include the “Travel Rule”. This recommendation, introduced in 2012, requires the exchange of client data between financial intermediaries. Facts FATF “Travel Rule” The Financial Action Task Force (FATF), an intergovernmental organisation based in Paris delivered its recommendations on 21st June with regard to the fight against…

Bitcoin/USD daily basis Bitcoin USD – consolidation near recent highs The reporting week was characterized by a downward trend. Although a breach of the USD 12,000 mark was achieved on Monday, this breakout already marked the high for the week. The Bitcoin price reached a daily high of just under USD 12,400 and a closing price of around USD 100 below this. Already on Tuesday a correction followed with a daily low of USD 11,800 and a closing price just below the USD 12,000 mark. From Wednesday until the end of the week, narrower trading ranges were recorded with lower…

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review. We are undoubtedly in a time of change. Digitalization will fundamentally change industries. Karen Wendt on digital assets, block chain and tokenization. New blockchain generation: Knowledge and experience drive the technology forward. Developers are constantly faced with the challenge of finding the right and sensible balance between trust, accuracy, cost, usability and benefit. An introduction to the Polkadot project. The American software company MicroStrategy,…

November 3rd is approaching. The day when the U.S. will decide whether Donald Trump can begin his second term in office. In the presidential election, the postal vote plays an important role. Now the US Postal Service has applied for a patent for a blockchain-based voting system. The U.S. President Donald Trump had repeatedly made negative comments about the postal vote. In his opinion, they would be susceptible to fraud. However, due to the corona pandemic, most U.S. states expect significantly more postal voters. Some people think the Republicans fear that the Democrats could benefit from the expansion of postal…

One million South Koreans have given up their physical driver’s licences in favor of a blockchain-driven digital alternative. According to current usage statistics, blockchain driving licences are already enjoying great popularity. The program – to be able to use blockchain driving licences from now on – was only launched in May. Nevertheless, one million South Koreans have already opted for a licence based on Blockchain. In South Korea, this corresponds to more than 3% of the total driver population, which, according to Statista, comprised 32.6 million drivers with driving licences in 2019. This is the first authorized digital ID card…

Since a change in the law in March 2020, digital assets are recognized as such in South Korea. KB Kookmin Bank has now entered into strategic partnerships to further develop this emerging market and provide crypto-custody services. More and more major banks are focusing their strategy on digital assets. In 2017, the South Korean government had still banned domestic ICOs. Today, digital assets are not only recognized in South Korea, but have recently also been classified as taxable. The change in the government’s regulatory stance was a sign for South Korean banks to start dealing with digital assets as well.…

EIP-1559 is an upgrade for the Ethereum protocol that solves the problems of volatile gas fees and Ether inflation.

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review. Fidelity Digital Assets, the subsidiary of financial services giant Fidelity Investments, has published the first report of its Bitcoin investment thesis. The report describes Bitcoin as an emerging value investment and compares it to asset classes such as gold. The term “token” is often encountered in the world of crypto-currencies. It can be assumed that tokenization will fundamentally change our current financial system. Yves…

Fidelity Digital Assets, the subsidiary of one of the world’s largest asset managers, has published the first report of its Bitcoin investment thesis. The report describes Bitcoin as an emerging value investment and compares it to asset classes such as gold. Fidelity Investments is a US financial services company that currently manages over $8 trillion in assets. Two years ago they established a subsidiary, Fidelity Digital Assets, which provides custody and other digital asset management services. Last week they published the first part of their “Bitcoin Investment Thesis”. Bitcoin can mean different things to different people. Why Bitcoin is bought and stored…

Sector Analysis July 2020 Index Performance In terms of USD performance, all major FTX Indices (ALT/MID/SHIT) performed very well throughout the entire month – ALT Index :+36%; MID Index: + 28%; SHIT INDEX: + 19%. All ALT constituents (9 coins) showed a positive performance. Within the MID constituents (24 coins), performance was mixed: 17 coins performed positively, whereas seven coins were negative. The performance of SHIT constituents (50 coins) was also very mixed. Only 24 coins showed a negative performance; 36 coins are up. On the graphs below, you will find more $ performance values for each coin within the…

The Tel Aviv Stock Exchange (TASE) plans to launch the country’s first central securities lending platform on November 2. The system is based on blockchain technology and is currently being tested. Currently, there is no central platform for securities lending on the Israeli market. Instead, it is carried out via interbank mechanisms. However, this means that the full potential of the market cannot be exploited. Blockchain-based “Central Block Chain Securities Lending Platform For this reason, the Tel Aviv-based stock exchange (TASE) plans to introduce the “Central Blockchain Securities Lending Platform”. Blockchain technology is a suitable solution for supporting securities markets…

The credit card company Mastercard announced this week that it intends to expand its offer for crypto-currencies together with the company Wirex. The aim is to make it easier for consumers to hold and purchase crypto-currencies. According to a press release issued by the company, consumer interest and investment in digital currencies is increasing. Research has shown that up to 20% of the population in some countries have crypto-currencies, and an increasing number of retailers are exploring the area. Extension of the partner program The planned expansion should make it easier for partners of the company to bring secure and…

Bitcoin/USD daily basis Bitcoin USD – Overcoming the 10’500 resistance leads up to 12’000 USD An eventful reporting week! Monday began with higher prices than the previous week and with a first intraday test over USD 10,000 and a daily closing just below that. A subsequent massive price increase on Tuesday was a tough one, taking the Bitcoin price first through the historical resistance around 10’500 USD, directly to a daily high of just over 11’400 USD. The daily close was close to 11’000 USD. On Wednesday a first setback to USD 10,500 was recorded, but the closing price was…

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect. Let’s start with basics: What are cryptocurrencies and for what purpose are they used? To refresh your basic knowledge, we have prepared a summary of the webinar “Back to Basics” . In the United States, national regulation of digital currencies is on the move. National banks can now legitimately offer crypto-custody to customers. The letter from the authority sets a legal milestone in the states, and suddenly brings…

Today, Bitcoin Capital, a new ETP issuer on the Swiss stock exchange, launches the very first actively-managed Crypto ETP tradable on a regulated marketplace. The ETP provides additional opportunities for retail and institutional investors to diversify their portfolios by incorporating an actively-managed basket of cryptocurrencies. This takes the number of ETP providers available at SIX to 5, and the number of ETPs to a record of 31 – further strengthening the position of the Swiss Stock Exchange as the world’s leading market place for regulated crypto products. With their newly tradable ETP at SIX, Bitcoin Capital offers exposure to a…

This week, the US supervisory authority, Office of Comptroller of the Currency (OCC), announced in an open letter that nationally licensed banks are allowed to offer custody services for crypto-currencies. The regulatory environment in the United States regarding the provision of trading and services in digital assets is not uniformly regulated. The legal situation is unclear. US banks then wanted to obtain more detailed information from the U.S. Office of the Comptroller of the Currency (OCC) about the rules governing the safekeeping of crypto-currencies. This resulted in the public letter in which this was explicitly approved. “The provision of custody…