Gibraltar Plans to Legalize ICOs

The Government of Gibraltar is preparing a legislation to regulate ICOs and their secondary markets
12 February 2018   796

Today, the Gibraltar Financial Services Commission (GFSC) announced that the Government of Gibraltar (HMGoG) and GFSC are jointly developing legislation for blockchain-based token offerings.

Following the GFSC’s Statement on ICOs in September 2017, Gibraltar’s Minister for Commerce, Hon. Albert Isola MP, announced that Government’s position on ICOs would be formulated by this month.

In December, HMGoG collected views of local stakeholders through a discussion paper on token regulation circulated to Gibraltar’s Finance Centre Council. Based on stakeholders’ feedback, work has now begun on drafting legislation to regulate the promotion, sale and distribution of tokens; secondary market activities relating to tokens; and the provision.

The regulations will mandate ICO issuers to follow disclosure rules that include ‘adequate accurate and balanced disclosure of information’ to all prospective token buyers. Also, the regulations will establish mechanisms to prevent financial fraud.

GFSC senior advisor on distributed ledger technology (DLT) Siân Jones stated that one of the key aspects of the token regulations is the introducing of the concept of regulating authorised sponsors.

A bill is expected to be considered by Parliament in the second quarter of 2018. If passed Gibraltar will be an attractive destination for businesses weighing up token sales in the coming months and cryptocurrency investment funds in the future.

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Tezos Bug to Slow Down the Network in 20 Times

The issue looks fixed now and Tezos network works in the standard transmission mode
25 September 2018   182

In the main network of the Tezos block project, a bug was discovered one week after its official launch. According to tzscan.io, on August 24, due to the vulnerability, the release time of the blocks increased from 1 to 20 minutes.

Tzscan.io
Tzscan.io

The user of the service for hosting IT projects GitLab under the nickname "Jérémie" reported on block freezing for 45 minutes. Later in Riot chat he learned that developers are aware of the problem and they are working on its solution.

Bug between the baker and the node. The two communicate over json but the json serializer incorrectly handled some control characters. Immediate fix was to patch the serializer. Medium term fix is that the baker and node really should communicate using the binary RPCs instead.
 

murbard at Reddit

Soon after the discovery of the bug, one of the developers posted an urgent fix at GitHub, which was proposed to be installed by all the bakers. Currently the Tezos network operates in normal mode, and the units are released every minute.

As of September 25, 08:00 UTC network of Tezos worked in the standard transmission mode - 1 block per 1 minute