This week the team talks about cryptocurrency news regarding Libra, scams and more.  

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• Rapid Fire
  • IKEA just allowed an invoice to be paid via the Ethereum blockchain (This was a stablecoin of some kind)
  • BlockOne was fined 24M by the SEC.
  • Siacoin only had to pay 225k
  • CEO of Beaxy Exchange disappears, looks like they're insolvent.

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• (Crypto Exchanges Creating a Token Rating System)
  • Coinbase Blog - "Introducing the Crypto Rating Council"
    • Create system that rates tokens on how close they are to a security
    • "Although the U.S SEC has issued helpful guidance...
      • Analysis requires fact-intensive analysis by knowledgeable experts
      • Analysis is difficult, expensive, and will lead to judgement calls & disagreements
    • So Coinbase brought together industry leaders, securities law experts to create
      • "a scalable, points-based rating system centered around a set of several dozen, yes / no factual questions."
      • Question derived directly from SEC guidance and case law
      • They say they focused on "objective, repeatable, fact-driven questions"
    • Council Members
      • Anchorage
        • Part of the Libra association
        • Basically a crypto vault were transactions are validated by Quorum
        • No usernames/passwords/phonenumbers nothing a hacker could use or get
        • "clients whitelist devices held by their employees, who use the Anchorage app to submit transactions. You’d propose selling $10 million worth of Bitcoin or transferring it to someone else as payment, and a minimum of two-thirds of your designated co-workers would need to concur to form a quorum that approves the transfer."
        • Also uses behavioral analysis, biometric signals, network signals. Its human AI mix
      • Bittrex
      • Circle
      • Coinbase
      • DRW Cumberland
      • Genesis
      • Grayscale Investments
      • Kraken
    • Scores range between 1 and 5 (5 being most like a security)
    • Expected to change over time, and open to feedback
    • Crypto Rating Council
      • Bitcoin - 1.0
        • Absence of a marketed token sale & marketing efforts
        • decentralized development and usage
        • Anonymity of the Project Team
        • Litecoin, Monero
      • Ethereum - 2.0
        • Current functionality of the platform
        • Absence of investment-like language or marketing
        • Decentralized development and usage
        • Zcash
      • EOS - 3.75
        • Absence of investment-like language or marketing
        • Current functionality of the platform
        • Raised funds in excess of what would reasonably be necessary for development of the platform
        • Decentraland, Hedera Hashgraph, Loom Network, Stellar, Tezos
      • XRP - 4.0
        • Usage of securities-like language
        • Sale of tokens or token interests prior to