North America: Crypto and Blockchain News Roundup 20th May to 26th May, 2019

North America: Crypto and Blockchain News Roundup 20th May to 26th May, 2019



North America: Crypto and Blockchain News Roundup 20th May to 26th May, 2019

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

North America

USA

US presidential candidate will accept cryptocurrency donations: Eric Swalwell, fourth-term member of Congress from California’s Bay area, has opened up his campaign donations to cryptocurrencies. The move was seen as an attempt to boost Swalwell’s presidential bid in the 2020 US elections according to reports from the media.

Moreover, this move will likely attract the millennium vote. Previously, Swalwell founded House Democrats’ Congressional caucus, known as the Future Forum, which focuses on millennial’s opportunities and issues. He is chairman emeritus of the Future Forum too. According to Swallwell, if blockchain technology is allowed to prosper, it can change the world. A major portion of our life exists online, “why can’t we extend this further into our democracy and our economy?”, he argued.

New York supreme court grants stay of demands to Bitfinex and Tether: Stay of demands have been granted to Bitfinex (digital currency exchange) and Tether (stablecoin issuer affiliated with Bitfinex) by the New York Supreme Court (NYSC), notes a blog post published on 22nd May 2019. Bitfinex applied for the stay of demands on 21st May. According to the post, the companies were granted their motion for an immediate stay of the document demands by Justice Joel M. Cohen of the NYSC. The parties require to present information and documents concerning whether there is personal jurisdiction over the companies in New York in front of the court.

Wright was not given copyrights for Bitcoin paper, notes US copyright office: The US Copyright Office clarifies that it did not officially recognize Craig Wright as Bitcoin’s inventor, noted a press release. The clarification came after Wright’s recent attempts to copyright Satoshi Nakamoto’s Bitcoin code and white paper. As per the officials, the copyright office does not investigate the truth of any statement made in the registration application that it receives.

The claimant certifies to the truth made in the submitted material. In case of pseudonym, the office does not investigate the “provable connection” between the claimant and the pseudonymous author. Rumors spread after some media outlets reported that Wright has gained the copyrights for Bitcoin’s original paper from US copyright office and he is indeed Satoshi Nakamoto.

SEC once again announces delay on Bitcoin ETF licensing: Decision on Bitcoin ETF proposal has been postponed to August 2019 by the US Securities and Exchange Commission (SEC), reports the media.  Back in June 2018, the US monetary regulator red-lighted Cboe’s original Bitcoin ETF filing. The ETF proposal was filed in collaboration with SolidX (blockchain company) and VanEck (money management firm). Since then SEC has been using delay tactics on Bitcoin ETF proposals.

Facebook in talks with leading US crypto firms to launch Globalcoin: Facebook is looking to collaborate with Winklevoss’ Gemini to launch its own cryptocurrency, reports The Financial Times (FT). The said move has been regarded as a “game changer” for the blockchain industry.

As per the report, Facebook officials have met leading US based crypto exchanges to discuss their cryptocurrency project, named as the Globalcoin. Interestingly, Gemini exchange, led by the Winklevoss twins, was also part of these meetings, noted FT. Other firms such as Jump and DRW were consulted to discuss the issues of an equal pegging with the US dollar, security and market acceptability of the proposed digital currency.

Canada

Proposed Canadian crypto regulatory framework opposed by blockchain stakeholders:  Karken, San Francisco-based digital currency exchange, posted a summary of its responses to the Canadian Securities Administrators (CSA) on twitter. Reportedly, Karken recommended against Canada imposing “a security law framework on cryptocurrency exchanges”. Recently, the CSA published a Proposed Framework for Crypto-Asset Trading Platforms.

The framework has also been criticized by Jonathan Hamel, an associate researcher at the Montreal Economic Institute. Hamel stated that there are already sufficient safeguards and Canadian regulators are “wandering outside their jurisdiction” in case of Bitcoin.

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