SEC has questions to cryptocurrency investment funds

Learn about what the Securities and Exchange Commission of US thinks about cryptocurrency investment funds
11 December 2017   313

On her speech at the ICI Securities Law Developments Conference in Washington, D.C., on Thursday, Division of Investment Management director Dalia Blass said the agency is weighing questions related to newly-registered funds that plan to hold cryptocurrencies.

We also continue to think about new innovations in asset management. For example, we have seen several filings for registered funds that would hold cryptocurrency. As with any new product, there are questions to ask.
 

Dalia Blass

Division of Investment Management director, SEC

These are interesting questions: how to differentiate different types of assets and is there enough proper information to prospective investors regarding the related risks?

How would these funds fit into the existing regulatory scheme? What regulatory structure or structures apply to the market for the underlying instrument? We will be discussing these questions with you as we work through these filings.
 

Dalia Blass

Division of Investment Management director, SEC

These interesting comments came along with growing activity out of the SEC around blockchain, including its policing of initial coin offerings (ICOs) that involve U.S. investors

Play2live announced the release of its MVP and a token sale

Blockchain-based streaming platform for gamers release a full-fledged esports streaming service
21 February 2018   20

On February 21 the first blockchain-based streaming platform for gamers, Play2live, opened its LevelUp Coin (LUC) token sale event with a deadline on March 14 at 17:00 UTC along with the rolling out of its MVP. The platform is based on BitShares 2.0, already successfully passed a heavy testing stage with with live matches and streams.

The service is already capable of accepting around 200,000 viewers. A special tournament for CS:GO - CryptoMasters with the world's first prize pool entirely comprised of the virtual currency ($100,000 worth of LUC) is also announced under the banner of Play2live. The event is set to take place in Minsk, Belarus on February 24-25. The broadcast will be arranged in 7 languages - English, Russian, Chinese, Korean, Spanish, Portuguese, and German.

The service also features a voting system during matches using the same LUC. This token acts as an internal currency that can be easily converted to another cryptocurrency or a fiat currency by means of the Play2live's API.

The company itself was established in 2017. Its purpose is to merge blockchain technology and streaming service to provide all the participants of the streaming process a seamless platform for prioritizes interaction and encourages the diversity of monetization schemes. It is reported that Play2live will have up to 15 sources of revenue.

On February 21 at 17:00 UTC CEO of Play2live opened the token sale with a Q&A stream session with topics concerning the update of P2l, product and sale related matters.