TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Greta Thunberg to get $1 Million from Tron CEO Justin Sun. US SEC proposed to update the “accredited investor” definition. Binance Research finds peculiarities in its latest mining report. EY launches public beta of its smart contracts review platform. Matrixport gets Trust or Company Service Provider license, and Fed Governor Lael Brainard talks about Libra’s challenges.
Greta Thunberg to Get $1 Million From Justin Sun
As a young entrepreneur, I share @GretaThunberg’s passion to change the world. Crypto will contribute immensely on reducing carbon footprint by implementing decentralized settlement. I would like to personally commit USD$1 Mil to @GretaThunberg ’s initiative. #cop25
— Justin Sun (@justinsuntron) December 18, 2019
Greta Thunberg, named Person of the Year by Time Magazine, will receive a $1 million donation from Justin Sun, founder and CEO of Tron. Sun declared in response to a Greta Thunberg tweet, saying he believes “crypto will contribute immensely on reducing carbon footprint by implementing decentralized settlement.” Sun also revealed he personally shared Thunberg’s passion to change the world.
US SEC Proposes to Update the “Accredited Investor” Definition
The Securities and Exchanges Commission (SEC) proposed to update the “accredited Investor” definition to democratize access for more institutions and traders to private offerings. “The current test for individual accredited investor status takes a binary approach to who does and does not qualify based only a person’s income or net worth. Modernization of this approach is long overdue,” Jay Clayton, Chairman, explained. The proposal will be submitted to public comment for 60 days.
Binance Research Discovers SHA-256 Irrational Mining Patterns
Binance Research, the investigative arm of Binance, discovered irrational mining patterns in their latest Mining Allocation Research. According to the document, Bitcoin SV and Bitcoin Cash miners have incurred losses for mining on those chains. BSV miners suffered a loss between $12 million and $13 million during last year, and Bitcoin Cash miners also lost $7.7 million between June and August. The report concludes there are other motivations besides economical gains in the mining landscape.
EY Launches Beta Version of its Smart Contract Review System
Ernst & Young, one of the big four firms of audit and consulting, launched a public beta of their token and smart contract review system. The platform, called EY Smart Contract Analyzer, was already being tested in a closed beta, and allows users to paste Solidity code to be analyzed for quality and security features, and provide recommendations for changes. The code was released to the public for the final testing phase before getting it into production, according to a Reddit post by Paul Brody, their blockchain lead.
MatrixPort Gets Trust or Company Service Provider License
We are pleased to announce that its entity, Matrix Trust Company Limited that offers custodian services (with brand name Cactus CustodyTM ) has been granted a Trust or Company Service Provider (TCSP) license. pic.twitter.com/6u4xruGLZr
— Matrixport (@realMatrixport) December 17, 2019
MatrixPort, the cryptocurrency lending and exchange platform backed by Bitmain, received a Trust or Company Service Provider License for its custody services with the name of Cactus Custody in Hong Kong. This means their business is now able to provide custody not only for digital assets but also for fiat currencies and securities, expanding its field of reach to other companies besides cryptocurrency exchanges and institutional investors.
Federal Reserve Governor Lael Brainard Talks Libra Challenges
Lael Brainard, a governor of the Federal Reserve, attacked Libra by stating it has to comply with strict regulations before being launched to the mainstream market. Brainard declared the currency must overcome a “core set of legal and regulatory challenges” to be approved. “Without requisite safeguards, stablecoin networks at global scale may put consumers at risk,” she declared. Libra, if approved as designed, will be a stablecoin pegged to a basket of fiat currencies, and this could destabilize economies globally.
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