SEC reaffirms Ethereum is not a security; House committee calls for study on crypto use in illicit activities; Singapore is developing a code of ethics for AI; Bitcoin price fell sharply after South Korean crypto exchange hack; Wells Fargo limited cryptocurrency purchases on credit cards; a study found rampant price manipulation in crypto markets; and Apple banned cryptocurrency mining on iPhones.
What’s The Big Idea with Circle, Coinbase, and Revolut all making moves to expand their capabilities? Also: The CFTC subpoenaed several crypto exchanges; Ant raised $14B in the largest fundraising round in history; Google published its AI “code of ethics”; Facebook took another privacy hit; and the CFSI unveiled its 2018 FinLab cohort.
What’s The Big Idea with the the CFPB and CFTC’s new sandbox? Also: a small blockchain startup in the Cayman Islands is raising $4B through token sales; Amex is using blockchain to support a rewards program; Visa’s European network had an outage; and Chime pulled in $70M in new funding.
The DOJ is investigating crypto price manipulation; U.S. and Canadian regulators are investigating nearly 70 ICOs; BOX and T0 are working on an SEC-compliant, blockchain-based securities exchange; SoFi plans to expand into crypto investing by 2019; and 2018 VC funding for blockchain firms has already surpassed 2017 totals.
The CFPB restructured Project Catalyst; Coinbase is making moves; PayPal is buying iZettle for $2.2B; the WSJ found hundreds of fraudulent cryptocurrency offerings; California is considering a new data protection bill; and Circle gained unicorn status after raising $110M in new funding.
The NYSE’s parent is developing a Bitcoin trading platform; Bloomberg created a cryoto index; Apple and Goldman announced a new credit card; Australia adoted Open Banking rules; the IOSCO created a “Fintech Network”; and Robinhood raised $363M.