Coinnest and Waltonchain to develop blockchain technologies

Chinese platform Waltonchain announced a strategic investment in Coinnest aiming to boost the development of blockchain industry
10 January 2018   321

Coinnest, a growing cryptocurrency exchange based in Korea, has announced its partnership with Waltonchain platform, which is aimimg to establish and gradually incorporate retail, logistics and product manufacturing, and to achieve the full coverage of business ecosystem.

Waltonchain announced that it has reached an agreement on cooperation with Coinnest and will make a strategic investment in Coinnest. The aim of the cooperation is to develop blockchain-related technologies and promote the development of blockchain industry as well as Waltonchain business in Korea.

At the moment of press, these are the main market parameters of Walton:

  • Average Price: $18,68
  • Market Cap: $465 182 619 
  • 24h Volume: $59 382 300

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   78

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.