Breadwallet rebranding

Bitcoin wallet Breadwallet becomes more that just a wallet
28 September 2017   698

The team of Bitcoin wallet Breadwallet announces a rebranding and a radical update of the design of its application.

As mentioned on the official website of the project, from now on the project drops the word "wallet" from its name and will be known simply as Bread. The creators also claim that Breadwallet becomes a decentralized financial institution.

In the coming months, we will be adding more financial services in a range of geographies, as well as support for more crypto assets that complement Bitcoin. These are only the first steps towards building a powerful financial platform that can be used around the globe.

Bread team

The company also launches a brand new iOS app, rebuilt from scratch, with a new look and added features. As detailed, the Android version is close to completion and will be available soon.

There are a new design, the ability to display a Bitcoin balance both in bits as well as full Bitcoins, the ability to save a memo together with every transaction sent or receive, in the reworked application.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   55

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.