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In France, a cryptocurrency GJCO appeared free from central banks and the government

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Yellow vests (Mouvement des Gilets jaunes) is a spontaneous protest movement in France, which appeared at the end of 2018 and was named so because of the reflective yellow vests used by participants of the demonstration to identify participants.

Initially, the cause of the demonstrations was the increase in the price of fuel (due to the increase in the price of petroleum products), then the demands of the participants expanded to the resignation of French President Emmanuel Macron. The movement is rapidly gaining momentum, acquiring a political coloring. He is openly supported by several leaders of political parties and political movements. Recently, the movement has gone beyond the borders of France and affected the UK, Germany, Belgium, the Netherlands, as well as the overseas region of France Reunion.

The protests, in which, starting in November, hundreds of thousands of people took part, resulted in riots: acts of hooliganism, vandalism, robbery, which led to the death of several people and numerous arrests.

According to the Ministry of Economics, the protest movement has already caused damage to the French economy in the amount of at least 2 billion euros.

In response to the protests, on December 10, French President Emmanuel Macron announced the introduction of the state of emergency and social status in the country, and also announced that the government was taking a number of measures: raising the minimum wage by 100 euros, exempting the tax from the year’s results, canceling tax on overtime working time, fiscal benefits for low pensions, freezing of gas and electricity tariffs, waiver of environmental tax on motor fuel.

Economists estimate that, in general, the package of measures will cost the treasury about ten billion. In the "yellow vests" circles, many accepted the presidential package with satisfaction, but they do not refuse to make new demands.

December 15, activists of the movement of "yellow vests" are preparing to enter new demonstrations throughout France. Preparations for them were conducted on Friday until late evening in Marseille, in Toulouse, in Lille, in Paris and in other cities.

As it became known, the protest movement creates its own cryptocurrency – GiletJaunceCoin (GJCO), that is, the “coin of the yellow vest”. This is quite a logical step on the part of the protesters who do not accept the dominance of central banks and the government.

The slogan of the website of the new cryptocurrency is the call “we will return ourselves freedom!”. According to the site, the GJCO token is “easy to use and can be used for transactions between participants in the movement of“ yellow vests ”or people who want to support a legitimate battle against the European oligarchy.” The creators of the token note:

“By providing the infrastructure necessary for the widespread use of GJCO, we are helping“ yellow vests ”around the world to create a parallel economic system during the struggle for economic freedom.”

These declarations seem to have something in common with the thoughts expressed in the official declaration of the “yellow vests” movement:

“The decisions of our politicians, who have sold themselves to greedy bankers, have a negative impact on the quality of life and freedom of citizens of European countries, who are increasingly worried about the future of their children and grandchildren. The current European and global banking system, which has been collapsing since the 2008 economic crisis, is close to an inglorious end.

The European powers, with the help of the European Union, are forcing people to finance this “zombie system”, trying to bring the people to their knees. The French, known for their revolutions and courage, initiated a global social protest movement, which will end only when the existing social and economic institutions are completely transformed. ”

It should be noted that it is not yet clear how viable the new cryptocurrency is. Time will tell whether there is real demand for it. As of December 16, the cryptocurrency website www.gilentjaunecoin.com is unavailable.


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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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