Digital Asset Holdings raises more than $40m

Digital Asset, the blockchain company, raises more than $40 million during a Series B round
17 October 2017   2019

Digital Asset Holdings LLC raises $40 million in a Series B round, led by the New York-based Jefferson River Capital.

Thus, the funding takes total to over $110 million and positions Digital Asset for further expansion.

Distributed Ledger Technology has the potential to bring greater transparency, security and efficiency to financial services and beyond. We are in the early stages of an important technological transformation that requires strong engineering discipline to deliver credible and practical solutions. I am excited to join a world-class team that has the necessary skill and focus required to accelerate these important innovations, while helping our customers embrace the benefits of DLT.
 

Clyde Rodriguez
Chief Information Officer & CTO of Engineering

New hire Rodriguez is also a former co-CTO of Two Sigma Investments with 20 years of experience in enterprise software and cloud development. At Microsoft he formed and led the Azure cloud networking group as general manager. Earlier, he led Microsoft's Windows division in creating and delivering the first 64-bit Windows client and server operating systems.

According to the company, the Digital Asset Platform is the only Distributed Ledger platform to have been developed according to the production requirements of the world’s largest financial infrastructures. 

Malaysia to Issue Law on Digital Currency

Starting from 15.01.2019, organizers of illegal ICO in Malaysia will face up to 10 years in prison
14 January 2019   110

The law on digital currencies and digital tokens of Malaysia will come into force on Tuesday,  The Star reports. From this point on, any citizen of a country who will be found guilty of conducting an unregistered Initial Coin Offering(ICO) or organizing a platform for exchanging digital currencies without authorization may face up to 10 years in prison and a fine of $ 245,000.

Malaysian Finance Minister Lim Guan Eng on Monday confirmed the information that the law enters into force on January 15. It is expected that the relevant legal framework will be fully defined before the end of the first quarter.

In accordance with the new law, digital currencies and tokens are considered securities and are regulated by the Securities Commission (SC).

Lim also noted that the financial instruments described in the law and related activities must first be approved by the SC and comply with all established requirements for securities.

In particular, we believe digital assets have a role to play as an alternative fundraising avenue for entrepreneurs and new businesses, and an alternate asset class for investors. 
 

Lim Guan Eng
Finance Minister, Malaysia

According to Lim, SC will now develop regulatory requirements for ICO organizers and trading platform operators.

In November last year, Lim offered to oblige all cryptocurrency issuers in Malaysia to seek advice from the country's central bank.