Maitland/AMO ICO Monitor – 26 September 2018

26th September 2018

The Big Read


Cryptocurrency Wild West is crying out for a principled sheriff

A Financial Times editorial makes ther case for proper regulation of crypto assets, to make them respectable for traditional financial groups. More than 75 of the world’s biggest banks are turning to blockchain to fight the threat of new payment rivals. Crypto investors currently expose themselves to unregulated risks that can completely wipe out their investments; values are based largely on sentiment not fundamentals. Financial Times, 25 September 2018

Tech: ICOs still raising billions despite scams and dead projects

ICOs have been on the rise, with the number and amount of funds raised increasing over the past five years. Coinhako co-founder Yusho Liu says one of the main attractions of an ICO is its efficiency and the access to a wide pool of funds. Raising funds through an ICO means there is no need for intermediaries as per a traditional IPO as the only parties involved are the company issuing the tokens and the investors. The Edge Markets, 26 September 2018

Google ends cryptocurrency ad ban- but only for certain kinds of ads

Google is reversing part of its ban on cryptocurrency-related advertising and plans to allow regulated crypto exchanges to buy ads in the US and Japan. This will begin in October 2018 and Facebook also started allowing some types of cryptocurrency-related advertising back on its platform in June 2018. CNBC, 25 September 2018

Coinbase Gears Up for Biggest-Ever Expansion of Crypto Asset Listing

Coinbase has revamped its policy for listing new cryptocurrencies as it aims to rapidly expand the range of assets traded on its exchange. The system will allow anyone to submit a cryptocurrency through an online form for evaluation under the company’s digital asset organisation which would reportedly lobby Coinbase to support their assets. CoinDesk, 25 September 2018


New Kid on the Block – The Technologies, Funds and ICOs you should know about


Crypto, Revolutionised: New French ICO Regulation on Its Way

The French parliament’s lower house is initiating a debate about a legal project introduced last June which contains some relevant changes for the French regulatory framework with regard to crypto assets and ICOs. It aims to sustain the development of liberated companies that are better funded, more innovative and fairer. This is an important step to draw France closer to the digital revolution. Coin Telegraph, 25 September 2018

Opera Launches Special ‘Labs’ Version of Built-In Crypto Wallet for Desktop Browser

Opera is launching a ‘labs’ special edition of its desktop web browser with built in crypto wallet functionality. It will be fully interoperable with the mobile crypto wallet that Opera first launched as part of its beta Opera for Android in July this year. Opera’s interoperable mobile-desktop wallet works by enabling users to connect their desktop browser to their existing crypto wallet-enables mobile app by canning a QR code. Coin Telegraph, 24 September 2018

How XMaterials Is creating the Future of Green Building Materials

XMaterials is a building and construction materials ICO and they have announced that they are launching a Presale beginning 25 September 2018. It is looking to disrupt the $600 billion materials industry with patent-pending Al and machine learning technology. XMaterials can form green, concrete-like replacements which can transform the way roads and buildings are made. Coin Telegraph, 26 September 2018


Scams, Sanctions and Suspicious Activity


Hackers steal $60m from Japanese cryptocurrency exchange

Blockchain, one of the industry’s leading startups, has filed a legal complaint in US federal court against a company using the likeness and name of Blockchain cryptocurrency without permission. Blockchain.io is an apparent scam that is run by Paymium a ‘defunct Bitcoin company’. This is not the first time Paymium has been accused of scams, in 2013 some cynics believed that the company had run away with consumer-owned BTC and has rebranded as blockchain.io. CoinDesk, 25 September 2018

Coindesk: Wallet Provider Blockchain Sues Crypto Startup Days Before ICO

Blockchain, one of the industry’s leading startups, has filed a legal complaint in US federal court against a company using the likeness and name of Blockchain cryptocurrency without permission. Blockchain.io is an apparent scam that is run by Paymium a ‘defunct Bitcoin company’. This is not the first time Paymium has been accused of scams, in 2013 some cynics believed that the company had run away with consumer-owned BTC and has rebranded as blockchain.io. CoinDesk, 25 September 2018

Australian Financial Regulator Issues Warning on ‘Misleading’ ICOs

Australian Securities and Investments Commission (ASIC) has issued a warning on misleading Initial Coin Offerings and crypto asset funds targeted at retail investors. ASIC have stopped five different ICOs from raising capital since April 2018. This was due to the lack of appropriate investor protection measures on part of the fundraisers in question. CoinDesk, 20 September 2018


Bulls & Bears of the week


“I think that any minute the bull market will return, and historically, October to December are the good months.” Changpeng Zhao ("CZ"), co-founder and CEO of Binance

“We think for Bitcoin itself it has reached a bottom, but for the other cryptocurrencies, it is far from the end. We think the bearish market is going to be lasting for more than 200 days for cryptocurrency other than bitcoin.” Kira Sun, BlockVC