North America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest news from the cryptocurrency and blockchain sector, continent by continent and country by country.

USA

Congress Requests SEC to Clarify Crypto Security Laws: The US Congress has sent a letter to the Securities and Exchange Commission to clarify on their cryptocurrency guidelines to support the crucial innovation across the sector.

Congress believes that the cryptocurrency sector is important for the future of the United States economy and many startups are fleeing the country due to SEC’s policies. However, there is no consensus on cryptocurrency regulation in the Senate right now.

Cryptocurrency Pioneers Attack SEC in Joint Letter: A group of top cryptocurrency pioneers are attacking the overreaching efforts of the US Securities and Exchange Commission on cryptocurrencies. They believe that the efforts 0f the SEC will be detrimental for the overall industry in the country.

The letter follows a growing mistrust in the cryptocurrency community towards the SEC which is impeding the progress of this innovative sector.

Ex-President Bill Clinton Supports Cryptocurrencies and Praises Blockchain Technology: Bill Clinton has come out and praised blockchain technology at Ripple’s Swell conference in San Francisco. 

Ripple is currently out on a strong PR campaign and comments like these from Clinton will help their cause. They were also advocated by the actor and investor Ashton Kutcher, and Snoop Dogg earlier this year.

New York Attorney General Believes Many Cryptocurrency Exchanges Operating with “integrity”: New York’s tough cryptocurrency laws could be in for a change. The Office of the Attorney General of New York has said that cryptocurrency exchanges are reaching early stages of maturation and many of them are now offering services with a high degree of integrity.

OAG recently completed extensive surveys of major cryptocurrency exchanges and was reportedly satisfied with many of them.

Bipartisan Bill for Consensus-based Definition of Blockchain: A bipartisan bill introduced in the US House of Representatives is seeking to create a consensus-based definition of blockchain technology.

The Blockchain Promotion Act of 2018 was sponsored by Congresswoman Doris Matsui and Congressman Brett Guthrie who are members of the Energy and Commerce subcommittee as well as Technology and Digital Commerce and Consumer Protection.

Court Rules CFTC has Jurisdiction over Cryptocurrencies: In a recent case in District Court of Massachusetts, Judge Rya W. Zobel has decided that the Commodities and Futures Trading Commission (CFTC) will have jurisdiction over cryptocurrencies. 

The court ruled against a local coin project called The Big Coin and declared that it was not a commodity. The court used a very broad definition of the commodities to declare cryptocurrencies as such, as it says that all goods, services, and interests for which there are contracts for future or present delivery are commodities.

Canada

Firm Accepting Cryptocurrencies for Legal Services: Canadian firm Mcleod Law is now accepting cryptocurrencies for legal services in the country. The law firm became one of the first in The Great White North to accept Bitcoin from its clients.

Mcleod announced this week that the alternative option is for clients who have invested into cryptocurrencies. The firm is using Coinsquare cryptocurrency exchange for its services.

Election in Quebec to Define Future of Cryptocurrency Mining Projects: Canada’s Quebec region is undergoing elections and their results could affect the future of cryptocurrency mining projects in the state.

There are a considerable number of Bitcoin miners present in the region who faced a backlash from the government after their electricity requirements were found to be too much. The next government will likely seal the fate of these miners operating in the French-speaking area.

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