North America: Crypto and Blockchain News Roundup 12-18 October 2018

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North America: Crypto and Blockchain News Roundup 12-18 October 2018

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North America

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

USA

Department of Justice to Auction 660 BTC: The US Department of Justice is selling 660 BTC ($4.2 million) that were accumulated from various criminal proceedings.

The US Marshals Service (USMS) that works under the umbrella of the Justice Department, posted a notice on its website regarding the auction. A USD 200,000 refundable deposit is needed to enter the bidding process which will be done via sealed bids by 31 October 2018.

The sealed option was undertaken so that bidders cannot see each others’ bids and adjust their own price. 6 sets of 100 BTC will initially be up for auction followed by one set of 60 BTC.

Toyota Using DLT for Ad Buying in the USA: World’s largest car manufacturer Toyota is working with a blockchain advertisement firm to reduce fraudulent activities on digital ads. 

Lucidity, the blockchain company in question is offering enhanced solutions to the car company for its advertising campaigns for the $15 billion US market. With the help of the system, Toyota can now flag sites and apps with high impression and click discrepancies, thus saving up valuable funds.

Crypto Donations from Alumni being Debated: An increased number of cryptocurrency donations are being made to universities prompting debate on their standing in the educational centers. The universities themselves are, however, reluctant to accept them.

According to Nicolas Cary, the co-founder of Blockchain website, he had a tough time having his 14.5 BTC donation accepted in the university.

He said:

“I had to do a little bit of convincing for them to accept it. They wanted to dig in about how it works and what the process would be. We had a lot of conversations.’’

The problem for many institutions is that many simply don’t have a process for such donations. Even Ivy league colleges like Yale and Harvard have been slow in adopting frameworks for cryptocurrency donations.

USD Tether Struggles While Gemini and other Stablecoins Surge Above Parity: The USD stable coins are showing mixed behaviour as by far the principle stable coin USD Tether lowered while Gemini, USDC and PAX surged above parity.

Insolvency issues are reportedly dogging the further adoption of USD Tether, thus causing benefit to its smaller competitors.

Former Commodities Regulator Says ICOs Should be treated like Securities: A former chairman of the US Commodities and Futures Trading Commission (CFTC) has reiterated that ICOs should be considered as securities. 

Gary Gensler, the former chairman of the CFTC made these comments while acknowledging the uniqueness of cryptocurrencies. He made the case that except top cryptocurrencies, all other ICOs should be treated securities to help protect investors.

Joint Investigation Finds SEC Moves Damaging to US Blockchain Startups: A Joint Investigation conducted by Yahoo Finance and Decrypt Media has found that the moves by the SEC are negatively affecting cryptocurrency and blockchain adoption and development in the country.

The attitude of the SEC involves exerting pressure on companies with subpoenas and fines and it has led to many companies moving away from the US to crypto-friendlier shores.

Canada

Marijuana Legalization Brings DLT to the Center: Canada legalized recreational marijuana in the country and blockchain companies are racing to get a share of the pie.

Cannabis has historically been connected with cryptocurrencies and blockchain and now that it has been legalized, more investment and innovation is expected in the sector. Various blockchain-based cannabis companies have announced moves into the now legalized multi-billion dollar industry.

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