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Paxtradings Crypto Minute: April 7, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: April 7, 2018

IBM Joins Non-Profit To Build Global Blockchain-Based Identity Network

IBM has announced it is joining the Sovrin Foundation as a “founding steward.” According to Finance Magnates, the Sovrin Foundation is aiming to build a global, blockchain-based identity network. IBM will be contributing hardware, security, and network capacity — although it has not disclosed a cost estimate for these contributions.

Coinbase Seeks Consultation to Become Licensed Brokerage Firm and Trading Platform

Coinbase has seeked consultation from U.S. regulators about registering as a licensed brokerage firm and trading platform. According to the Wall Street Journal, such a registration would allow Coinbase to expand asset offerings to include cryptocurrencies the SEC has argued are securities. The registration could also pressure other cryptocurrency exchanges to comply with U.S. oversight.

SEC Freezes Profits of Longfin After Buying “Purported” Cryptocurrency Trading Company, Ziddu.com

The U.S. SEC has obtained a court order freezing USD 27 million in trading profits from three affiliates of Longfin. According to Forbes, these affiliates allegedly sold unregistered shares after the company bought a “purported” cryptocurrency trading company, Ziddu.com. The freeze will prevent the affiliates from transferring out of the U.S.

George Soros Approves Investment In Cryptocurrencies After Criticizing Them Three Months Ago

George Soros’s family fund will begin investing in cryptocurrency after Soros publicly criticized cryptocurrencies in January 2018. According to USA Today, Soros Fund Management investor Adam Fisher has received approval to make the move into cryptocurrencies. However, Fisher has yet to authorize an investment.

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