We Are at the Beginning of Tokenization, Circle CEO Says

The financial company Circle’s CEO, Jeremy Allaire spoke of the “never before seen” crypto revolution
14 June 2018   324

Blockchain can transform every aspect of finance and positively affect all sectors of the economy. This was stated by the general director of the payment startup Circle Jeremy Allaire, CoinDaily reports.

The unprecedented crypto-revolution is only the beginning of the process of general tokenization, the developer noted.

Circle's CEO listed the benefits of a tokenized global economy where stored in any form "public information becomes a cryptotoken," which has a market value and is traded on global digital asset exchanges.

Aller also said that "house, car, or service" can be tokenized using crypto assets, and any property can become the subject of financial relations.

As previously reported, the start-up Circle announced its intention to obtain a banking license at the federal level in the United States.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   115

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.