Internet crowdsourcing company Share Internet Data Ltd (SID) has partnered with private equity firm LDJ Capital to launch a blockchain-based digital banking solution. The new digital banking app is called LDJ Digital, according to a press release on July 16. According to the announcement, LDG Digital can function as a debit card and it supports both fiat money and cryptocurrencies. Moreover, the professed goal of LDJ Digital is to provide banking services to the unbanked, as per the report. LDJ Digital will reportedly be a part of the existing SID platform and is based on its core technologies and principles. …

The United States Securities and Exchange Commission (SEC) has given blockchain-based startup Blockstack the go-ahead to run a $28 million public token offering under Regulation A+, according to a report by The Wall Street Journal (WSJ) on July 10. Blockstack will reportedly launch its token offering online tomorrow, July 11. While other firms have previously taken advantage of Regulation A+ funding, this marks the first time that investors will receive a token, rather than shares in the company. Regulation A+ is an initial public offering (IPO) alternative geared towards startups in need of early funding. Regulation A+ funding was introduced …

South Korea’s Gram Asia is selling rights to its Gram holdings at $4.00 per token starting July 10, according to a report by Bloomberg on July 3. The proposed sale price is triple the original $1.33 sale price at Gram’s second initial coin offering (ICO) round in March 2018. The sale on July 10 is apparently happening exclusively through Japanese cryptocurrency exchange Liquid, as per its website. Liquid also hosted the Gram ICO in March, at which time Telegram raised $850 million, bringing its total valuation up to $1.7 billion. Citing an email from the exchange, Bloomberg reports that users …

The Reserve Bank of India (RBI) is developing a blockchain platform for banking in its R&D branch, according to a report by BusinessLine on June 28 The blockchain platform will reportedly host a number of blockchain applications, and is slated to launch next year. This model platform is reportedly being designed to serve banks; according to the director of The Institute for Development and Research in Banking Technology, RBI’s R&D branch, the platform is “for blockchain applications for the government in banking.” While RBI appears to be moving into the blockchain industry, it has historically not been keen on cryptocurrencies. …

A new report on the Telegram Open Network (TON) by Russian research agency Aton — published today, June 14, on Cointelegraph — reveals new details about one of the most anticipated projects in the crypto space. TON is a blockchain platform developed by encrypted instant messaging service Telegram, which is widely regarded as one of the primary means of communication within the blockchain and crypto community. The blockchain network reportedly aims to gain wide usage due to the active, crypto-friendly Telegram community. According to the report, TON will facilitate internal payments, host decentralized applications (DApps) and provide wallet services, among …

Ampleforth has raised $4.9 million in 11 seconds in its AMPL token sale, according to an announcement on June 13. The initial exchange offering (IEO) was the first to take place on Ethfinex and Hong Kong-based crypto exchange Bitfinex’s Tokinex platform . An IEO is an alternative to an initial coin offering (ICO) in which a centralized exchange is responsible for vetting the token projects and investors, and then subsequently conducting the initial sale of the token. This IEO, ran by Tokinex, reportedly sold off 10% of Ampleforth’s total token supply, which will be available to its initial investors some …

Liquid’s intention to sell encrypted messenger Telegram’s token, GRAM, is not connected to the company, a source close to Telegram told Cointelegraph in private comments on June 11. As Cointelegraph reported earlier Tuesday, cryptocurrency exchange Liquid had announced that on July 10, it would be the representative of sales of Telegram’s GRAM tokens for Gram Asia. Gram Asia is allegedly the largest holder of the token in Asia, Liquid’s press release notes: however, a source close to Telegram noted that it was the first time that they had heard of Gram Asia. The source close to Telegram has stated to …

Cryptocurrency exchange Liquid will reportedly be the first to host encrypted messaging app Telegram’s gram tokens when they go on public sale, a press release confirmed on June 11. Telegram, which has not provided an official statement on the move, became the focus of international attention last year when it held a private initial coin offering (ICO) for Gram, which raised $1.7 billion for its Telegram Open Network (TON) project. A message from an unofficial TON channel on Telegram wrote that Liquid could be attempting to catch on to the hype surrounding the as-of-yet unreleased token, and that investors should …

The captains regent of the Republic of San Marino, Nicola Selva and Michele Muratori, have issued a governmental decree on blockchain tech for businesses, according to a recent document. The new decree outlines procedures for registering a blockchain-based organization with the “Istituto per l’Innovazione della Repubblica di San Marino,” or San Marino Innovation Institute. According to the decree, blockchain-based organizations in the Republic of San Marino, the EU, or any country not classified as “high risk” and also considered relevant to the purview of San Marino legislation, may apply for registration with the institute. The institute sets out to provide …

The United States Securities and Exchange Commission (SEC) has sued Canadian startup Kik for an unregistered $100 million token offering, the regulator officially announced on June 4. According to the SEC’s complaint, Kik violated the registration requirements of Section 5 of the Securities Act of 1933. The agency is seeking a permanent injunction, disgorgement plus interest, and a penalty. Specifically, the securities watchdog alleged that in late 2017, Kik raised $100 million through a digital token sale that was not compliant with U.S. securities laws, as it had not registered the offering with the proper authorities. Steven Peikin, co-director of …

The Australian Securities and Investment Commission (ASIC) on May 30, 2019 published an updated guideline for initial coin offerings (ICOs) and cryptocurrency trading. These new guidelines are aimed at helping cryptocurrency-related businesses understand their compliance requirements vis-à-vis existing laws contained in the Australian Corporations and ASIC Acts. The ASIC’s revampled ICO and cryptocurrency trading framework does not, however, cover guidelines for other regulators like the country’s tax agency and consumer protection group. The securities regulator say crypto businesses will have to refer to the published laws by those respective bodies. By updating its ICO regulatory provisions, the ASIC is setting …

G20’s international watchdog, the Switzerland-based Financial Stability Board (FSB), said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space, according to a report by Reuters on May 31. The report noted that one potential risk assessment metric regulators could look at is banks’ and other financial entities’ degree of exposure to cryptocurrency. The report also added that the FSB does not currently believe that crypto poses “a material stability risk” to the financial sector. As per the report, existing crypto regulations are somewhat weak, and the fast rate of …