ETH Foundation to be Sponsor of UNICEF Crypto Fund

The first contributions to the UNICEF Cryptocurrency Fund will come from the Ethereum Foundation; it will be used for kids OS projects
10 October 2019   589

The United Nations Children's Fund (UNICEF) has established a cryptocurrency fund to accept donations in bitcoins and Ethereum.

Digital assets will finance open source technologies for children and youth around the world.

UNICEF became the first organization in the UN that transacts in cryptocurrency, the fund said in a press release.

This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.
 

Henrietta Fore

Executive Director, UNICEF

The first contributions to the UNICEF Cryptocurrency Fund will come from the Ethereum Foundation through the French branch of the children's fund, which previously began to accept donations in nine cryptocurrencies.

Digital assets will be directed to finance three grantees of the UNICEF Innovation Fund. These are startups Prescrypto, Atix Labs and Utopixar, working in the areas of “tracking recipes, selecting investors and those who need financing, as well as public tokens and business relations”. GIGA will also receive funds from the cryptocurrency fund for connecting schools around the world to the Internet.

ETH May Become Security After POS Migration,- CFTC

At the moment, according to the head of CFTC, Ethereum is more likely an exchange commodity rather than a security, but it may change 
14 November 2019   179

The head of the Commission for derivatives trading (CFTC) Heath Tarbert expressed the opinion that cryptocurrencies involved in the cryptocurrency using the Proof-of-Stake algorithm can be considered as securities. It is reported by Decrypt.

Earlier, the head of the CFTC said that in its current form, Ethereum is more likely an exchange commodity rather than a security. However, I am sure Tarbert, over time, the status of an asset may change. For example, a security can become a commodity and vice versa.

We are thinking carefully about it.
 

Heath Tarbert

Chairman, U.S. Commodity Futures Trading Commission

The popular Proof-of-Stake (PoS) algorithm involves the use of “stake” as a resource that determines which particular node receives the right to mine the next block. Higher chances to generate the next block are received by the node with greater balance.

Recently, staking services that promise customers a return on investment in PoS assets have become popular. According to some experts, these services could potentially violate the provisions of the Howie test, such as having a joint venture, as well as an investment contract involving two parties.

At the same time, Tarbert spoke out against an aggressive approach to regulating cryptocurrencies, which could suppress innovation and hinder the strengthening of the US position in the innovation sphere.

Clarity and consistency is the first step to leadership.
 

Heath Tarbert

Chairman, U.S. Commodity Futures Trading Commission

Earlier, Heath Tarbert expressed the view that regulated futures based on Ethereum will soon appear on the market.