Rojin Nair, Advisor
June 1st, 2021
At Incyub8 Inc, Rojin is focusing on nurturing and guiding various national and international start-[...]
SEC wants big data tools for monitoring and enforcing cryptocurrency market compliance
Modern Consensus | ,
Move is latest series of steps by regulator to bring clarity and less confrontational approach to regulations enforcement
The U.S. Securities and Exchange Commission wants to know if the technology to help it monitor major cryptocurrency blockchains for risk and regulatory compliance issues exists.
The SEC is not looking to buy big data analytics tools at this time, but characterizes its interest as “conducting market research to determine the availability and technical capability,” of the tools presently available on the market, it announced in a notice on Jan. 31
What the SEC wants to know about is the “ability to provide the requested data but also an overview of the processes used to extract the data, convert the data into a reviewable format, and the verification steps to ensure there is no loss in data completeness and accuracy due to the data transformation tools and processes applied.”
The software it wants would also make the data easy for SEC staff to read and understand on an ongoing basis, and would provide insights about that data—notably identifying who the data belongs to—as well as a way of ensuring the data is accurate and complete.
See: Designing a data transformation that delivers value right from the start
The request is the latest in a series of recent moves that underline the agency’s commitment to bringing order, clarity, and oversight to the regulation of the cryptocurrency and digital asset market, as well as moving away from the confrontational approach that have characterized its actions in recent years. The SEC’s Office of Compliance Inspections and Examinations (OCIE) identified digital assets as one of its priorities for 2019, including firms’ portfolio management, internal controls, and asset security among its focuses.
The SEC recently promised “plain English” guidance for developers and investors that will make clear if their cryptocurrencies and initial coin offerings (ICO) qualify as securities under the law, according to “The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts,”
a report issued in November 2018 by the white shoe law firm Skadden, Arps, Slate, Meagher, and Flom.
That recent promise by William Hinman, director of corporation finance at the SEC, highlights what Skadden calls the agency’s “recent efforts to encourage engagement and collaboration with developers regarding their blockchain-related projects rather than emphasizing enforcement actions.”
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Coindesk | Tanzeel Akhtar, Nelson Wang | | Nov 20, 2021 The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone. Payments giant Square released a white paper on Friday detailing a new decentralized protocol for exchanging digital and other assets known as tbDEX. “The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world,” the company wrote in the paper’s abstract. In a post introducing the protocol, a TBD developer wrote that “the tbDEX protocol aims to create ubiquitous and accessible on-ramps and off-ramps that allow the average individual to benefit from crypto innovation.” TBD has published the white paper in GitHub so that the community can contribute. See: 5 guiding principles for decentralized identities Microsoft's decentralized identity head leaves to join Square Square CEO Jack Dorsey, who’s also the CEO of Twitter, announced the company’s plan to create an open developer platform for a decentralized bitcoin exchange back in August. He noted that TBD, Square’s new division focused ...
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Guest Post | Nov 30, 2021 The best networking platform where you can make connections with potential customers in your industry is LinkedIn. Also, with LinkedIn, you can get noticed professionally, generate leads online, and create ads. There are several blogs on tips to hire a LinkedIn ads expert, if you are convinced you need one. However, as a business person or company looking to make connections in your industry, several simple approaches work well. But that’s not all, there are also approaches that do not work. To make this a balanced discussion, we will consider both sides of the divide, starting with the strategies that do not work. 1. Having a profile picture of you in a sculling contest or posing in front of an expensive supercar. Your picture should make people feel warm, showing you’re approachable. The above approach is not ideal because it portrays an image of an unapproachable person who values things more than people. It is not ideal to use a picture of yourself in front of a supercar, except you’re a motor dealer working with high-value exclusive cars. 2. If you don’t know someone, don’t click the connect button without adding an introductory note ...
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CBC | Pete Evans | Nov 29, 2021 Twitter co-founder Jack Dorsey will step down as the company's chief executive officer. Dorsey is also CEO of payment firm Square The billionaire CEO announced in a tweet that he is stepping down, to be replaced by Parag Agrawal, who is the company's chief technical officer. Among other duties, Agrawal is developing standards to control abusive and misleading information. "I want you all to know that this is my decision and I own it," Dorsey said, adding that Agrawal "has been my choice for some time, given how deeply he understands the company and its needs." Dorsey co-founded the microblogging site in 2006 and became CEO the next year. But, two years later he was pushed out as chief executive by two other co-founders, Ev Williams and board member Fred Wilson. See: Twitter to allow Bitcoin tipping to their favourite creators After years of stagnant growth and a slumping share price since its IPO in 2013, Dorsey returned as CEO in 2015. At the time, Dorsey was also CEO of Square, a payments processing company that he founded after he left Twitter. But instead of leaving Square, he took the unusual step of continuing to be ...
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Guest Post | Nov 29, 2021 Different cities of the world would offer numerous business opportunities depending on what is in demand in the city. The fact that a business venture is lucrative in a town doesn't mean it will be lucrative in another. However, some cities stand out when it comes to running a business. The last few years have seen the United Kingdom produce more entrepreneurs than ever, which is good for the economy and the people. Still, there are certain things to consider before starting a business in the UK, and one of them includes the city where you choose to run your business. One essential thing to consider when starting a business is your location. Therefore, we have made a list of top cities in the UK where your startup business will thrive. 1. London We cannot talk about the UK without mentioning its charming capital city. Being one of the most visited cities in Britain, London strives in technology, media, and tourism. Recognized as the financial capital of Europe, the city accounts for over 30% of the UK's GDP and is considered one of the world's leading business hubs. According to a report by statista.com, ...
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Coindesk | Tanzeel Akhtar, Nelson Wang | | Nov 20, 2021 The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone. Payments giant Square released a white paper on Friday detailing a new decentralized protocol for exchanging digital and other assets known as tbDEX. “The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world,” the company wrote in the paper’s abstract. In a post introducing the protocol, a TBD developer wrote that “the tbDEX protocol aims to create ubiquitous and accessible on-ramps and off-ramps that allow the average individual to benefit from crypto innovation.” TBD has published the white paper in GitHub so that the community can contribute. See: 5 guiding principles for decentralized identities Microsoft's decentralized identity head leaves to join Square Square CEO Jack Dorsey, who’s also the CEO of Twitter, announced the company’s plan to create an open developer platform for a decentralized bitcoin exchange back in August. He noted that TBD, Square’s new division focused ...
Read More
Read More
Guest Post | Nov 30, 2021 The best networking platform where you can make connections with potential customers in your industry is LinkedIn. Also, with LinkedIn, you can get noticed professionally, generate leads online, and create ads. There are several blogs on tips to hire a LinkedIn ads expert, if you are convinced you need one. However, as a business person or company looking to make connections in your industry, several simple approaches work well. But that’s not all, there are also approaches that do not work. To make this a balanced discussion, we will consider both sides of the divide, starting with the strategies that do not work. 1. Having a profile picture of you in a sculling contest or posing in front of an expensive supercar. Your picture should make people feel warm, showing you’re approachable. The above approach is not ideal because it portrays an image of an unapproachable person who values things more than people. It is not ideal to use a picture of yourself in front of a supercar, except you’re a motor dealer working with high-value exclusive cars. 2. If you don’t know someone, don’t click the connect button without adding an introductory note ...
Read More
Read More
Bank of Canada | Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia | | Nov 30, 2021 In the last few years, the number of so-called cryptocurrencies—a form of electronic money that allows people to make direct person-to-person transactions—has surged, with more than 740 now available. Among them, Bitcoin enjoys the highest trading value and volume as well as significant mainstream media attention. See: BIS Research: CBDCs beyond borders: results from a survey of central banks Gaining insights into why more people are adopting cryptocurrencies is increasingly important. That’s because these currencies, if widely adopted, could affect both the banking sector and central bank’s core functions, such as monetary policy. We provide an analysis to better understand how three factors influence people’s decisions about Bitcoin adoption: network effects—as more people adopt and use Bitcoin, it becomes a more useful platform individual learning—whether beliefs about the future of Bitcoin influence a person’s present-day decision to use the currency social learning—how beliefs about Bitcoin are formed by those around us See: Bank of Canada Speech: Money and Payments in the Digital Age We find that both network effects and individual learning are important and increase the probability of adopting Bitcoin. In other words, ...
Read More
Read More
Liquid Avatar Technologies | Cara Buckspan | Nov 30, 2021 DENVER, CO and TORONTO, ON / ACCESSWIRE / November 30, 2021 / Liquid Avatar Technologies Inc. (CSE:LQID)(OTCQB:LQAVF)(FRA:4T51), a global blockchain, digital identity and fintech solutions company, and Bonifii, the financial service industry's first transaction network for verifiable credentials, today announce that privacy-preserving financial transactions in the metaverse will soon be possible through the upcoming availability of the Bonifii credential in the Liquid Avatar Wallet. This collaboration means that the Bonifii credential can be used as a "know-your-customer" (KYC) credential for avatars in Aftermath Islands and other compatible metaverses. See: Fintech Fridays EP54: How Digital Identity will Transform Human Potential The Bonifii credential is a decentralized digital identity enabling individuals to authenticate themselves in a way that maximizes privacy and security while providing an end-to-end onboarding experience. By working with Liquid Avatar Technologies and its wholly owned subsidiary, Oasis Digital Studios ("Oasis"), Bonifii will make its verifiable credential available for players in the game Aftermath Islands and facilitate in-game financial transactions in the same, privacy-preserving way real world customers use the Bonifii credential. This collaboration in the metaverse breaks new ground in the emerging digital experiences of Web 3.0. Indicio, a ...
Read More
Read More
TekSavvy | Nov 30, 2021 [TechSavvy] proud to present the first issue of “The Intrepid Savvies,” which was created and distributed to shine a light on the state of the telecommunications sector in Canada. This is the story of a captured regulator and an all-powerful telecommunications industry, and a small but mighty band of heroes who fight to make things better. While the story may be exaggerated, it reflects a real and significant shift over the past few years in the Canadian telecommunications industry toward fewer companies increasing their market power, often with the encouragement of decision-makers such as the CRTC and the Competition Bureau. If this trend continues, there will be no space left for smaller independent competitors and Canadians will lose. Every Canadian deserves internet access at an affordable price, yet we continue to pay some of the highest prices for telecommunications services in the world. You can read our latest blog post on the backstory behind why we felt the need to create and share this story. Download the comic book --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities ...
Read More
Read More
CBC | Pete Evans | Nov 29, 2021 Twitter co-founder Jack Dorsey will step down as the company's chief executive officer. Dorsey is also CEO of payment firm Square The billionaire CEO announced in a tweet that he is stepping down, to be replaced by Parag Agrawal, who is the company's chief technical officer. Among other duties, Agrawal is developing standards to control abusive and misleading information. "I want you all to know that this is my decision and I own it," Dorsey said, adding that Agrawal "has been my choice for some time, given how deeply he understands the company and its needs." Dorsey co-founded the microblogging site in 2006 and became CEO the next year. But, two years later he was pushed out as chief executive by two other co-founders, Ev Williams and board member Fred Wilson. See: Twitter to allow Bitcoin tipping to their favourite creators After years of stagnant growth and a slumping share price since its IPO in 2013, Dorsey returned as CEO in 2015. At the time, Dorsey was also CEO of Square, a payments processing company that he founded after he left Twitter. But instead of leaving Square, he took the unusual step of continuing to be ...
Read More
Read More
The Economist | Nov 29, 2021 THE RIVALRY between China and America will intensify in 2022 as each side strives to demonstrate the superiority of its system of government. As China uses its stage-managed Communist Party congress to cement Xi Jinping in power, Joe Biden and the Democratic Party are expected to face a drubbing in America’s mid-term elections. See: China Says It Remains Open to the World, but Wants to Dictate Terms Editor-in-Chief Zanny Minton Beddoes, US editor John Prideaux and host Tom Standage assess the competition between the two superpowers. Runtime: 22 min. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member ...
Read More
Read More
Federal Reserve Board of Governors | Nov 23, 2021 Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Federal bank regulatory agencies today issued a statement summarizing their interagency "policy sprints" focused on crypto-assets and providing a roadmap of future work related to crypto-assets. See: Hester Peirce Says SEC Enforcement is Not the Way to Provide Crypto Clarity In particular, the statement describes the focus of the preliminary work conducted through the sprints undertaken by the agencies. It summarizes the agencies' plan to provide greater clarity throughout 2022 on whether certain crypto-related activities conducted by banking organizations are legally permissible, and related expectations for safety and soundness, consumer protection, and compliance with existing law and regulations. The emerging crypto-asset sector presents potential opportunities and risks to banking organizations, their customers, and the overall financial system. The interagency sprints quickly advanced and built on agencies' combined knowledge, which helped identify and assess key issues related to potential crypto-asset activities conducted by banking organizations. The statement from the agencies does not alter any existing agency rules or regulations. Continue to the full article --> here Download the 2 page PDF joint release ...
Read More
Read More
Search Engine Journal | Lisa Buyer | Nov 23, 2021 The Metaverse is rife with opportunities for AR/VR and NFT-savvy brands and marketers. Imagine your avatar walking into a digital wine shop and talking to an avatar wine expert to get some questions answered. You order the wine and have it shipped to your physical address. Welcome to the metaverse, the intersection of our digital and physical realities. How Are Brands Entering The Metaverse? It seems that VR and AR are the new digital marketing. Brands are building Vstores or virtual showrooms designed to allow customers to take a tour, interact with a space or interact with 3D products such as cars, jewelry, or any digital asset. Virtual try-on will enable customers to tap into augmented reality, try on glasses or makeup, and visualize furniture and other products in their homes. Innovative marketers are taking concerts, art festivals, and sporting events and transferring them into digital experiences. Avatars need a fashion budget. Selling digital versions of products in virtual reality is becoming a new revenue opportunity. Gucci, Nike, and Dior all offer digital goods that allow personalizing and customizing avatars, whether handbags, shoes, hats, or sunglasses, as avatars now need ...
Read More
Read More
Guest Post | Nov 29, 2021 Different cities of the world would offer numerous business opportunities depending on what is in demand in the city. The fact that a business venture is lucrative in a town doesn't mean it will be lucrative in another. However, some cities stand out when it comes to running a business. The last few years have seen the United Kingdom produce more entrepreneurs than ever, which is good for the economy and the people. Still, there are certain things to consider before starting a business in the UK, and one of them includes the city where you choose to run your business. One essential thing to consider when starting a business is your location. Therefore, we have made a list of top cities in the UK where your startup business will thrive. 1. London We cannot talk about the UK without mentioning its charming capital city. Being one of the most visited cities in Britain, London strives in technology, media, and tourism. Recognized as the financial capital of Europe, the city accounts for over 30% of the UK's GDP and is considered one of the world's leading business hubs. According to a report by statista.com, ...
Read More
Read More
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