As the crypto week ended, the space saw several important headlines. Coicheck received an exchange license, NASA looked into blockchain and two scams were uncovered. Mongolia also jumped into the stablecoin game and a U.S. congressman talked about the SEC’s role in crypto regulation.
Crypto Insider also provided an interesting piece on Reverse ICOs.
Catch the details from today:
Coincheck Wins Crypto Exchange License 12 Months After Major Hack
Last year in January, someone hacked Japan’s Coincheck crypto asset exchange for over $530 million. Several months after the hack, Japanese brokerage Monex Group acquired the exchange, paying $33.5 million in the deal.
According to an announcement today, Coincheck has received license approval from Japan’s Financial Services Agency (FSA), and “is now registered with the Kanto Financial Bureau, under the country’s Payment Service Act, effective immediately,” reported CoinDesk today based on the announcement.
Coincheck reportedly has improved its safety measures since last year’s hack.
NASA Eyes Blockchain Tech To Secure Aircraft Flight Data
According to a CoinDesk report today, NASA is currently looking into blockchain as a way “to ensure the privacy and security of aircraft flight data.”
NASA engineer and researcher Ronald Reisman published a report this week on the topic of blockchain technology. He posited the technology, as well as smart contracts, might hold the potential for improved security.
Two Alleged Ethereum ‘Scam Forks’ Appropriating Users’ Private Keys, Report Finds
Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) are reportedly “appropriating the private keys of users trying to redeem their allegedly forked coins,” reported CoinTelegraph today, based on a report from the Guarda Wallet development team.
ETN’s site lists steps to receive the forked coins. Among such steps includes sending ethereum to a wallet address and exporting private keys, as well as utilizing a specified online tool. The tool, however, is reportedly a tampered version of MyEtherWallet (MEW). Furthermore, a user identified the associated Ethereum address as a scam.
The Guarda team also found problems with ETCV.
Mongolia Partners With Stablecoin To Use Blockchain For Lending Services, Money Transfers
Mongolian capital Ulaanbaatar has joined the stablecoin game, partnering with the Terra stablecoin project. Ulaanbaatar looks to use the stablecoin for money lending and transfer, as CoinTelegraph reported, based on news from e27.
The city has plans to use the Terra stablecoin for utility bill payments, among other uses, in place of other payment options currently in use. The coming six months will see a pilot program for the endeavor.
US Representative Soto: Most Cryptos Need CFTC’s Light Touch, Not SEC Oversight
U.S. House of Representatives member Darren Soto recently mentioned in a Cheddar interview that the Commodities and Futures Trading Commission (CFTC) should head up most crypto regulation, instead of the Securities and Exchange Commission (SEC), as covered in a CoinTelegraph article on the subject today.
Soto mentioned that securities laws could stifle innovation if that innovation is not actually a security.
“We’ll be saving the SEC for true securities, knowing predominantly that these are commodities and currency transactions. The [CFTC and FTC] are agencies with a lighter touch and we have grown consensus among the industry that they’d be appropriate for the majority of these types of cryptocurrency transactions and the nature of these assets,” Soto mentioned in the Cheddar interview.