Litecoin project by MIT

World famous institute announced mysterious cryptocurrency project
22 June 2017   3411
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Whole cryptocurrency community is exited due to a new project, developed by Massachusetts Institute of Technology. It still remains unclear exactly what this project will be about. It is only known that this project will be released on 1th of August. It will be very interesting to see what MIT is going to launch.

Many people were very surprised to find this mysterious webpage under MIT domain. It is clear now that new project will be Litecoin related. Even the creator of Litecoin, Charle Lee, has no idea about this project.

Litecoin

Features faster transaction confirmation times and improved storage efficiency than the leading math-based currency

 

What's this secret project? 

According to Charlie's opinion, it is related to MIT's DCI Lit lightning network. It is nice to see that such old and serious institute is interested in cryptocurrency and especially Litecoin.

Also, date is chosen wisely, 1st August is Bitcoin UASF activation date. The nearest future will be very interesting for whole mining community. 

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   32

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.