CRYPTO CUSTODY: New York Investment firm Shuttle Holdings will soon launch the beta version of a custody solution for digital assets built on IBM’s private cloud and encryption technologies. Brad Chun, Shuttle’s chief investment officer, told CoinDesk that the company won’t be storing cryptocurrencies itself, but rather, provide other firms with the tools they need to self-custody digital assets. Full Story ETH RELIEF? Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), has seconded a colleague's analysis that suggested the world's second-largest cryptocurrency does not qualify as a security. Last year, SEC Director of Corporation Finance William Hinman said that ethereum did not exhibit the properties of a security in its current state. After a request for clarification on the issue, Clayton responded, saying: "I agree with Director Hinman's explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts." Full Story ROAD TRIP: The U.S. SEC is going on tour in hopes of meeting with crypto entrepreneurs who otherwise might not engage with the regulator. FinHub, the SEC's branch dedicated to interacting with tech startups, said it would be visiting major U.S. cities from March 26, allowing individuals or teams to set up face-to-face meetings with agency staffers to ask questions or provide feedback about issuing tokens or other issues under the regulator's purview. Full story ADOPTION DRIVERS: The EU Blockchain Observatory and Forum believes the “first wave” of blockchain adoption will be spearheaded by permissioned platforms targeting specific use cases, according to a new report. The organization argues that focusing on specific use cases offers users more flexibility than do public blockchains, particularly if these networks remain interoperable. Full Story BIG PLANS: The real estate firm in charge of the world’s tallest building, Dubai’s Burj Khalifa, wants to develop its own crypto token. Emaar Group said it plans to develop its “Emaar community token” by the end of 2019, with the ultimate goal of launching an initial coin offering (ICO). The firm will partner with Lykke AG, a Switzerland-based crypto startup, to build the ethereum-based token for use in a referral and loyalty system. Full story |