Cryptocurrency regulations and policies continue to capture the attention of top officials. Finance ministers and central bank governors will gather for G-20 meetings in Argentina this week to explore the topic. And last week, a congressional subcommittee heard from Coinbase’s chief legal and risk officer about initial coin offerings (ICOs).
G-20 to Address Cryptocurrency
Finance ministers and central bank governors from around the globe will gather Monday and Tuesday for G-20 meetings in Argentina. This week’s agenda includes the topic of cryptocurrency, according to a notice posted on the G-20 Argentina website. “The technology behind crypto assets has the potential to promote financial inclusion. At the same time, however, it is important to analyze its implications to financial stability, tax evasion, and financing illegal activities,” the notice states. “The issue is an important item on the meeting agenda; delegates will consider a common response that would mitigate the risks without discouraging innovation.” After the meetings this week, the G-20 plans to release its main conclusions, which will become part of the draft proposals that will be heard at the Leaders’ Summit on Nov. 30 and Dec. 1 in Buenos Aires. Read more here.
Security Token Academy to Address ICO Industry Growth
Security Token Academy, a newly launched online resource that focuses on the security token industry, will hold an online panel discussion on the evolution and growth of the ICO industry on Wednesday at 3 p.m. EDT. The discussion will look at how the growth of the ICO industry has been accompanied by increased regulatory pressure, and at the possible transition from unregulated ICOs to regulated security token offerings. Panelists will include Anil Advani, managing partner at Investus Law; Alan Cohn, counsel at Steptoe & Johnson; Adam Ettinger, partner at Sheppard, Mullen, Richter & Hampton; Jor Law, securities attorney and co-founder of VerifyInvestor.com; Anthony Pompliano, managing partner at Full Tilt Capital; and Georgia Quinn, General Counsel for CoinList. Read more here.
CryptoWorld Event: Wall Street and the Internet of Money
The intersection of Wall Street and virtual currency will be addressed Thursday at the CryptoWorld event in New York. The one-day event will cover a range of topics on blockchain and cryptocurrencies and the impact they have on Wall Street now and in the future. Keynote speaker Cristina Dolan, co-founder and chief operating officer of iXledger Technologies, will address blockchain and its influence on finance and other related industries. The event is geared to investment professionals, cryptocurrency exchanges, regulators, blockchain experts and investment funds. Read more here.
Last Week’s Events
Royal Bank of Canada Seeks Patent for Blockchain Credit Score
The Royal Bank of Canada wants to build a credit score platform and use blockchain technology to do it, according to its patent filing with the U.S. Patent & Trademark Office. The Canadian bank envisions having credit records recorded using blocks linked by identification data, the filing states. These credit records will not only store historical information about borrowers but they will also contain predictive information that will be used to compute the credit ratings of the borrowers, according to the patent application. Read more here.
Report: Nvidia Prepares for Potential GPU Slowdown
Nvidia is reportedly taking defensive measures for a potential slowdown in demand for its GPU cards, reports DigiTimes. The graphics card maker, which faced an onslaught of GPU demand when cryptocurrency prices hit their peak in mid-December through January, is now reportedly telling its graphics card partners to refocus their attention on Nvidia’s gamer market and avoid promoting GPUs to crypto miners, DigiTimes reports. That said, however, Nvidia, is still reportedly moving forward with developing a separate line of GPU cards that are specifically designed for crypto mining, reports Notebookcheck.net.
Congressional Subcommittee Tackles ICOs
Mike Lempres, Coinbase’s chief legal and risk officer, testified before the subcommittee on Capital Markets, Securities, and Investment on the topic of initial coin offerings (ICOs). In his testimony, a copy of which Coinbase posted to its site, Lempres stated that although the company does not trade ICOs or any other form of security tokens, Coinbase believes these tokens are inevitable and “full of tremendous potential.” He added that ICOs can assist in developing a more efficient and effective means for capital formation, as well as help spur innovation, the formation of new companies and create growth in the U.S. economy. Read more here.