Bitcoin Moves Up / SEC Mentions Ether / The Howey Test / Alt Coins

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Presented by Subscribe | View in browser $BTC (4:27 p.m. EST): $7,875.84 (+2.49%) // 90-day high: $9,008.31 // 90-day low: $3,863.56 / / More… $ETH (4:27 p.m. EST): $247.57 (+3.60%) // 90-day high: $287.20 // 90-day low: $130.94 // More…       1. Bitcoin bounced back to $7,795 after hitting its two-week low yesterday at $7,432. After surging 62 percent in May and down 12 percent in the last week, many analysts believe Bitcoin is heading for a bear trend and prices closer to $7,000. The GTI Vera Convergence-Divergence indicator, which detects positive and negative trends, flashed a sell signal for the first time yesterday since April. -COINDESK       2. In its court documents against Kik, the Securities Exchange Commission suggested that Ether is a tangible currency. According to the SEC filing, "Investors' purchases of Kin were an investment of money, in a common enterprise, with an expectation of profits for both Kik and the offerees, derived primarily from the future efforts of Kik and others to build the Kin Ecosystem and drive demand for Kin. Consequently, Kik's offer and sale of Kin in 2017 was an offer and sale of securities." Kik accepted Ether for payment during its token sale and the SEC used money and Ether interchangeably. -CRYPTO NEWS NETWORK       A MESSAGE FROM AIRBNB Earn money by sharing your space. Millions of travelers stayed in an Airbnb last year. Turn your extra space into extra money. 3. Jargon Watch Howey Test: The Howey test is used to determine whether an investment qualifies as a security or an investment contract within the Securities Act of 1933. It was first used in the Supreme Court during SEC v. W.J. Howey Co., where the defendant was selling unregistered securities to investors who expected a profit. W.J. Howey Co. sold real estate contracts and leased land for citrus groves to investors who did not have the knowledge, skill, or the expertise to tend to the land and were considered speculators. The investors purchased the land expecting to receive a profit through the work and result of someone else. ICO's and cryptocurrency projects that conducted token sales in the United States have been subject to the Howey test by the SEC. Guidelines for what constitutes a security within cryptocurrency are still murky and regulators have yet to pass meaningful legislation. Yesterday, the SEC sued Kik for $100 million plus penalties and interest after accusing Kik of selling unregistered securities to the public who expected a return on their investment. The Howey test could be used by regulators to determine the nature of coins, so it is something the crypto community will want to learn.       4. From The Forums: Redditor iwasomni posted a video that showed his crypto portfolio filled mostly with altcoins from July 2014 through the height of the bull market in January 2018. His account went from -$3,349.06 at the start to $267,677.27. A user asked him how much profit he took out and iwasomni responded, "Didn't take any profits. Completely forgot about my portfolio until Dec 2017. And then I was locked out of all my accounts for inactivity, which took ages to resolve. I'm still up on my $200 (I think) initial investment. Pretty much not going to touch it again for a few years. Who knows what could happen?"       A MESSAGE FROM VETTERY Hiring moves fast—stay ahead of the game with Vettery's 2019 Tech Salary Report As a tech leader, you're used to a day-to-day in flux. You're focused on the big picture—roadmapping, goals, and maintaining your vibrant company culture—time is money, as they say. So let us streamline things. Want the tools to help you achieve your goals and hire talent? Vettery has you covered. 5. Former Mt. Gox CEO Mark Karpeles will open a new Bitcoin business in Japan. -WASHINGTON POST 6. Kodak revealed a new blockchain-based document management platform to help companies achieve cost savings up to 40 percent by improving productivity and preventing the loss of information. -COIN TELEGRAPH 7. Vitalik Buterin called BSV a "complete scam" and said Binance was a centralized exchange that wielded a lot of power. -BLOCKMANITY 8. On April 2, Coinroom sent an email to users stating they had one day to withdraw their funds before the exchange shut down. -BITCOINERX 9. Russian based food retail firm Dixy implemented blockchain technology in its corporate finance system. -COIN TELEGRAPH 10. European football team SL Benfica accepts payment for tickets in Bitcoin and Ether. -CRYPTO CURRENCY NEWS       Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who's always on social media).

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