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IBM develops its own stablebcoin for cross-border payments

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The head of blockchain and cryptocurrency trends at IBM, Jesse Lund (Jesse Lund) hinted that the bank-oriented Steablocoin will be an important development for the blockchain-based solution of cross – border payments from the technology giant. This Lund said in an interview with financial news channel Cheddar.

IBM is pushing market demand for the development of such a stableblokino, the manager said and added that more details will be announced in the coming days.

He noted that more and more banks around the world see huge benefits in launching stable tokens in national currencies. On the question of how comparable the decision of IBM with the future stable JPMorgan Chase coin, supported by the US dollar, Lund replied that their stablecoin will not be the same internal token as JPM Coin .

“This is not a proprietary coin, like the decision of JPMorgan, although I think what they are doing makes a lot of sense to them. […] What JPM is developing also adds tremendous confirmation of what we are doing. But we believe that stable coins should be more affordable, and World Wire seeks to ensure the interchangeability of digital assets in financial institutions , ”said Jesse Lund.

The IBM Blockchain World Wire (BWW) international payment network based on the Stellar blockchain was launched by the corporation last year. Lund recently stated that along with the use of the Stellar token (XLM), the company is considering the possibility of introducing into BWW and other crypto-assets: XRP , BTC , steakcoins or digital currencies of central banks (CBDC).

Recall that in the past year, IBM announced the launch of steyblcoin based on the blockchain Stellar in partnership with a startup Stronghold.

Date of publication: 16.03.2019
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US SEC Commission: Some Stablecoins May Be Recognized to Securities

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According to Valery Schepanik, senior consultant for digital assets of the United States Securities and Exchange Commission (SEC), the norms of securities legislation may apply to certain types of glasscoins . Reported Decrypt .

According to Shchepanik’s classification, one stablecoin can be tied to real assets like gold or real estate, the other to fiat currency, and the third to use various “financial mechanisms that support price stability.” It is the third category, in its opinion, that can become the object of close attention of the regulator.

“I came across steyblokinoy, the value of which controls a certain pricing mechanism associated with the emission, creation or redemption of another type of digital assets tied to them. Or, it is supported by control over the ratio of supply and demand in order to keep prices in a certain range , ”said the SEC representative.

According to her, if the central side controls the steakblock's price volatility, or if the buyer is promised a guaranteed income or a controlled price, such an asset can be recognized as a security.

She noted that the agency applies equally to all cryptocurrency projects. Shchepanik also emphasized that companies should contact the agency for consultation before the release of the token , and not after:

“We would prefer that people turn to us for permission or advice before they do something, rather than do something first, and then come to ask for forgiveness.”

Publication date 18.03.2019
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Japan will consolidate the rules for cryptocurrency in the category of "cryptographic assets"

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The Cabinet of Ministers of Japan proposed amendments to the laws “On Financial Instruments and Exchanges” and “On Financial Settlements”. Thus, it is planned to consolidate a number of norms regulating the market for digital assets.

The Law “On Financial Instruments and Exchanges” is aimed at ensuring the transparency of markets and the safety of investors. It contains clear requirements for operations with derivatives and securities.

Several points may be added to Japanese law.

So, it is proposed to make cryptocurrency in a separate category – “cryptographic assets”. This is consistent with the definition adopted by the G-20 countries. Companies that deal with their exchange will receive the status of "agents for the exchange of cryptographic assets."

Cryptocurrency exchanges may be required to keep clients' funds in cold wallets. If for these purposes it is necessary to use the infrastructure that is connected to the Internet, then the assets should be provided with their own funds of the exchange.

Margin trading of digital assets is proposed to regulate by analogy with the markets of foreign currencies.

"In addition, cryptocurrency companies can prohibit the use of promotional materials that encourage speculation and indulge in dishonest practices (price manipulation, insider trading, etc.)."

Publication date 18.03.2019
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Ledger Nano S Wallet Receives Certificate of the French Cyber Security Agency

Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI). Ledger is proud to announce that it is a wallet! The obtained CSPN certificate shows a third-party assessment of security, rather than taking our word for it. Read more here: https://t.co/PYrRcFt15u#DontTrustVerify […]

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Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI).

As noted in the company's blog, the process of obtaining the first level of a security certificate involves evaluating a product according to several criteria, including "firewall, identification, authentication and access, security of communications and embedded software."

“We are proud to announce that ANSSI has passed independent certification ,” said Ledger CEO Eric Larshevek. “ For Ledger, safety is paramount.”

He also promised that his company would make an effort to certify the rest of its products.

Recall, recently the French manufacturer of hardware wallets Ledger reported vulnerabilities from its competitor Trezor.

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