On the World Stage
The story resonating around the world is clear: this week’s substantial drop in the price of bitcoin. It has fallen nearly 20 per cent in the last five days, causing it to reach a 15-month low. Major outlets, such as CNN, are indicating that a possible reason for the plunge is the uphill battle convincing the Securities and Exchange Commission (SEC) to approve more bitcoin EFTs.
Recently, the SEC ordered fund manager CoinAlpha Advisors LLC to pay a $50,000 USD fine following what it deemed to be an unregistered securities sale. The fund reached out to possible investors, raising more than $600,000 in the process. While CoinAlpha did file a “Notice of Exempt Offering of Securities,” the company was not eligible for an exemption and did not otherwise register with the SEC. As such, it effectively solicited securities investors in a breach of the law.
On a more positive note, Mastercard has filed a patent for a method of anonymizing transactions on a blockchain. The patent was filed to the United States Patent and Trademark Office and outlines the use of one or more intermediary addresses to hide the source and destination of funds on a blockchain transaction. The goal is to increase the anonymity of those associated with a blockchain address.
Finally, Facebook seems to be heading into the blockchain space. After speculation circulated among the crypto-currency community this past year, Facebook has issued a job advertisement to hire a blockchain software engineer. It remains unclear as to what specific project Facebook is working on, though it is now clear that they are now entering this market.