Security Token Economy & Investments #3 Review of important news and content

New Bermuda Legislation Will Create a Novel Class of Bank to Service Fintech Companies.

www.zeus.exchange List of content

Introduction 2 I. Legal status in the world 3 Bermuda 3 China 3 EU 3 Hong Kong 4 India 4 Iran 4 Japan 5 Malta 5 Netherlands 5 Philippines 5 Poland 5 Singapore 6 South Korea 6 Switzerland 6 Thailand 6 UK 7 USA 7 II. Tokenization 10 III. Cryptoexchanges & Trading platforms 14 Binance 14 Bitmex 14 Bithumb 15 Bittrex 16 Coinbase 16 eToro 19 Huobi 19 Robinhood 20 Shapeshift 20 tZero 21 Custodians 21 Other 22 IV. Top investments in blockchain startups 25 Argo Blockchain IPO 25 Atlas Protocol 25 Audius 25 Australian State Government 25

Zeus.Exchange​ - We Tokenize Stock Markets 0 Binance 26 Bitmain 26 Blockchain Startups 26 Dfinity startup 27 Decentraland 27 Golden Gate Ventures 27 Hong Kong University 27 LINE 28 LuneX Ventures 28 NFL Players Association 28 Pantera Capital 28 Review.Network 29 SBI Holdings 29 South Korea 29 SFOX 29 V. Top content (trading & tokenization) 31 Security Tokens 31 Tokenization 31 Сonclusions 32

Legal disclaimer 33

Zeus.Exchange​ - We Tokenize Stock Markets 1 Introduction

Dear Reader!

We are glad to welcome you in our second issue of the analytical edition of the New Blockchain​ Economy and Investment​, where we will regularly publish an overview of the industry news.

In this issues we will describe top August news following topics:

Legislation News​ - news across the world regarding the legislation of the blockchain industry and cryptocurrency. We will also allocate the most favorable jurisdictions for the launch of projects related to cryptocurrencies and blockchain.

Tokenization news​ - since our main project Zeus.Exchange specializes in the stock market tokenization, we actively monitor the tokenization market and in this section we will review the news on this topic, as well as make reviews of interesting projects.

The world of security tokens (STO, Security Token Offering)​ - 2017 was the year of the fundraising boom through the ICO. 2018-2019 in our opinion, will be the year of legislative regulation of the cryptocurrencies industry and money raising for projects. In this section, we will consider news in this area, as well as projects that release their tokens in the format of securities.

Crypto-exchanges and trading platforms​ - our team has background in trading (some of us were asset managers, some were lawyers in the fund, some created and developed a brokerage business), so the topic of trading is especially close and interesting to us. This section will review the news of the crypto-exchange industry and trading platforms, as well as reviews of interesting projects.

Interesting materials​ - every day thousands of smart people create wonderful content on cryptocurrency, investment and blockchain topics. Experts in our company collect all of it bit by bit and choose the most valuable and interesting content. In this section, we will share it with you.

Connect us at social media: Twitter ​https://twitter.com/ExchangeZeus Facebook: https://www.facebook.com/cryptozeus/​ Telegram: ​https://t.me/zeusexchange

Alexander Tsyhlin CMO and co-founder Zeus.Exchange

Zeus.Exchange​ - We Tokenize Stock Markets 2 I. Legal status in the world blockchain ecosystem for invoices that Bermuda has been developed by Tencent — the developer of the 1 billion-user social 22-August-18 - Op​ Ed: New media platform WeChat — together with Bermuda Legislation Will Create a Novel the Shenzhen Municipal Taxation Class of Bank to Service Fintech Bureau. Companies

As we reported on July 19, 2018, 23-August-18 - China​ Tightens Bermuda is determined to establish the Noose on 124 Offshore itself as the leading jurisdiction for Cryptocurrency Exchanges fintech entrepreneurs, in particular those China’s government will take involved in initial coin offerings (ICOs), steps to further block access to more digital assets and virtual currencies. than 120 offshore cryptocurrency Having recently passed the ICO Act and exchanges whose websites are still the Digital Asset Business Act (DABA), accessible on the mainland. Bermuda’s Premier and Minister of Citing local financial news Finance, the Hon. E. David Burt, JP, MP, outlets, the Hong Kong-based South and his cabinet are now focused on China Morning Post reports that creating a new class of bank to facilitate authorities associated with the Leading Bermuda’s fintech initiative. Group of Internet Financial Risks The Bermuda Monetary Authority Remediation — which was founded in (BMA) has spearheaded a new bill, titled 2016 and run by top central bank the Banks and Deposit Companies officials — will begin blocking IP Amendment Act 2018 (Restricted Banks addresses belonging to 124 Act), that will establish a novel, cryptocurrency trading platforms that restricted banking license to encourage still serve mainland residents, despite banks to provide their services to fintech local prohibitions on these activities. companies. This legislation is vital, as to date Bermudian banks have been unwilling to EU provide banking services to the Island’s 31-August-18 - European​ Union nascent fintech startups. The to Discuss New Rules for government of Bermuda and the BMA Cryptocurrency Sector strongly believe that the Restricted The Finance Ministers of 28 Banks Act will resolve this impediment European countries on September 7 will and propel Bermuda’s fintech initiative meet in Vienna to discuss new rules for forward. the locally emerging cryptocurrency sector. China The informal gathering, according to the EU’s draft note, will witness a 10-August-18 - China​ Issues broad discussion about current policy First Tax Authority-Approved Invoice on issues relevant to financial and Blockchain economic affairs. China’s first digital invoice on the Bloomberg, which claims to have blockchain has been issued in the read the meeting agenda in person, southeastern city of Shenzhen, local reports that the EU ministers will echo news platform EEO reports August 10. their concerns over “a host of This is the first implementation of a pilot challenges” posed by the popularity of

Zeus.Exchange​ - We Tokenize Stock Markets 3 cryptocurrencies like Bitcoin. They before the Parliament, according to include crypto’s potential of being used DNA’s source. by online criminals for drug trafficking, tax evasion, terrorist financing and 14-August-18 - India’s​ Govt money laundering, and also its Considers Allowing Crypto Tokens for underlying pseudo-anonymity. Metro Cards, Airline Tickets: Report India’s government is reportedly Hong Kong mulling the launch of crypto tokens of its own for financial transactions in the 31-August-18 - Hong​ Kong is country despite an ongoing banking ban Greasing Immigration Doors for on decentralized cryptocurrencies. Blockchain Professional An inter-governmental committee Job seekers worldwide with a tasked to study and propose a flair and expertise in blockchain regulatory roadmap for the technology will be favored in Hong Kong, cryptocurrency sector is also examining part of the country’s unique immigration the usability of crypto tokens in the policy seeking to attract talented public sector, domestic publication DNA professionals. India reports citing sources. This week, the Hong Kong The committee is reportedly government unveiled its first-ever ‘Talent eyeing the use of the custom List to attract quality people’ from blockchain-based crypto as a tokenized around the world who specialize in 11 representation of money rather a direct professions determined as the most substitute to currency on its own, with crucial job profiles required for the applications such as metro card tokens. country’s economic development. “Innovation and technology experts” in blockchain technology, alongside Iran artificial intelligence (AI), data 25-August-18 - Iran:​ engineering, robotics, biometric and State-Backed Crypto Draft is Ready, industrial/chemical engineering are Central Bank to Soon Announce Stance among the specializations sought. on Crypto Iran’s National Cyberspace Center India has revealed that the draft of the state-backed cryptocurrency project is 10-August-18 - India:​ ready, local news outlet Financial Government to Consider Allowing Tribune reports August 25. Crypto Tokens, But Not According to the article, the Cryptocurrencies national digital currency project was The Indian government is developed on instructions from considering whether to allow crypto President of Iran Hassan Rouhani. tokens to be used in the country, despite Saeed Mahdiyoun, the deputy its hardline stance on cryptocurrencies, director in charge of drafting regulations local news outlet DNA India reports for Iran's Supreme Cyberspace Council, August 10. has reportedly revealed to local news A committee set up by the agency IBENA that the idea of finance ministry, under the chairmanship introducing a national cryptocurrency is of the Department of Economic Affairs being actively pursued by Iran's (DEA) secretary, is reportedly working on cyberspace authority. a set of regulations and roadmap to allow certain crypto assets to be used in India. Once the draft proposals are finalized, the legislation will be tabled

Zeus.Exchange​ - We Tokenize Stock Markets 4 Japan Netherlands 23-August-18 - Japan’s​ Financial 3-August-18 - ​Dutch Central Regulator Wants Crypto Industry to Bank Does Not Consider ‘Grow Under Appropriate Regulation’ Cryptocurrencies as ‘Real Money’ The commissioner of Japan’s An executive at the Dutch Central financial regulator the Financial Services Bank has said that while Agency (FSA) said that the agency cryptocurrencies are not “real money,” wants the cryptocurrency industry to the bank has no plans to ban them, local “grow under appropriate regulation,” in news outlet Dutch News reported an interview with Reuters August 22. August 3. Toshihide Endo, commissioner of The divisional director of the Japan’s FSA, told Reuters he sees the Dutch Central Bank, Petra Hielkema, told agency’s goal for developing the crypto Dutch News that due to the volatility of industry as finding a “balance” between cryptocurrencies and the possibility for consumer protection and technological consumer risks, it cannot be considered innovation. The commissioner added: as money, “We have no intention to curb [the “If something wants to be treated crypto industry] excessively. We would as money, you have to be able to spend, like to see it grow under appropriate save and calculate with it [...] So we do regulation.” not consider it [cryptocurrency] to be money as such.” Malta 16-August-18 - Malta​ Regulator Philippines Issues Virtual Assets Rulebook – 2-August-18 - ​Philippines Reaction from Stakeholders Muted or Securities Regulator Issues Draft of ICO Negative Rules, Requests Feedback From Public The Malta Financial Services The Philippines Securities and Authority (MFSA) has now published a Exchange Commission (SEC) has Virtual Financial Assets (VFA) Rulebook published a set of draft rules for specifically pertaining to the regulation regulating Initial Coin Offerings (ICOs) of Issuers of VFAs under the Virtual for public review, according to an official Financial Assets Act (VFAA). statement August 2. However, it seems that the In the SEC’s Memorandum publication of this rulebook has not got Circular, the agency stipulates that any down very well with financial services company registered in the Philippines providers who spoke to CCN. Some have looking to run an ICO, or any ICO selling lamented that it is onerous and tokens to Filipinos, must submit an over-cautious in several aspects and “initial assessment request” to the makes business slightly more Commission to determine whether or complicated where cryptocurrencies and not their token is a security. blockchain are concerned. Speaking to CCN, Joseph Borg, Poland Partner at WH Partners said that although the publication of the rulebook 29-August-18 - Poland​ was a positive step, this needs to be Introduces New Bill to Clarify Crypto polished to be actually effective. Taxation Polish legislators have introduced a long-awaited new bill to clarify the current crypto taxation policy. The

Zeus.Exchange​ - We Tokenize Stock Markets 5 document was published on the nightclubs as businesses that it would country’s government site on Friday, “not encourage as a venture enterprise.” August 24, and explained by local crypto media outlet Kryptowaluty August 25. 21-August-18 - South​ Korea: Kryptowaluty writes that a new National Assembly Discusses ICO Ban document has been offered for and ‘Blockchain Island’ consultation, and the Polish Council of Lawmakers in South Korea began Ministers will review it in the third discussing cryptocurrency once more quarter of 2018. The previous taxation Monday, August 20, in a meeting policy, which had been resisted by focusing on ending the country’s ICO country’s crypto community earlier this ban, as well as other topics, Business year, was taken into account but has Korea reports. been slightly changed. The purpose of Coming amid considerable the bill, as stated by government, is to attention on both cryptocurrency and simplify the tax system for crypto blockchain propagation from Seoul, the transactions. National Assembly meeting saw participation from government Singapore ministries including the Ministry of Science and Information and 25-August-18 - Singapore​ Communications Technology (ICT). Central Bank Partners With Deloitte, In addition to debating reallowing Nasdaq on Blockchain Asset Settlement initial coin offerings (ICOs) to operate in The de facto central bank of the country, the parties involved are also Singapore announced it had signed a keen to press ahead with the creation of deal with multiple big name entities to South Korea’s own ‘Blockchain island.’ ease digital asset settlements in a press release Friday, August 24. Part of its ongoing Project Ubin Switzerland blockchain integration scheme, the 7-August-18 - ​Swiss Bank Monetary Authority of Singapore (MAS) Maerki Baumann to Become Second in partnered with Singapore Exchange Country to Accept Cryptocurrency (SGX), along with Anquan, Deloitte and Assets Nasdaq to deliver the enhancements." The Maerki Baumann private bank will become the second Swiss South Korea bank to accept cryptocurrency assets, financial news outlet International 14-August-18 - South​ Korean Investment reports August 6. Ministry Drops Cryptocurrency The private Zurich bank has Exchanges From Venture Enterprise decided to accept crypto assets from Classification payments received for services The government of South Korea rendered, as well as those earned from announced it had excluded crypto mining, as a response to new cryptocurrency exchanges from market demands and the rise of legislation governing venture businesses cryptocurrencies’ popularity, in a press release issued Monday, International Investment writes. August 13. The brief document from the country’s Ministry of Small and Thailand medium-sized enterprises (SMEs) and 4-August-18 - ​Bank of Thailand Startups (MSS) explained that contrary Allows Banks to Open Subsidiaries for to previous decisions, it would now Crypto Dealings place exchanges alongside bars and

Zeus.Exchange​ - We Tokenize Stock Markets 6 The Bank of Thailand (BoT) has part of the formalization of the country’s recently allowed local banks to set up domestic market. subsidiaries for dealing with In a statement, Thailand’s cryptocurrencies, local Thai source Securities and Exchange Commission Blognone reported August 3. (Thai SEC) confirmed Bitcoin Co. Ltd. According to a regulatory (BX), Bitkub Online Co. Ltd., Cash2coins announcement published by the BoT on Co. Ltd., Group Co. Ltd. (TDAX), and August 1, Thai banks can now issue Coin Asset Co. Ltd. were able to operate digital tokens, provide crypto brokerage as legal cryptocurrency exchanges. services, run crypto-related businesses, In addition, the regulator and invest in cryptocurrencies through approved two cryptocurrency dealers: subsidiaries. Coins TH Co. Ltd. and Digital Coin Co. However, the recent Ltd. (ThaiWM). announcement has reaffirmed that all banks and other financial institutions are UK still banned from direct dealing with cryptocurrencies. 8-August-18 - ​US Treasury Dept. Fintech Innovation Report Touches on 9-August-18 - ​Thai SEC: Interest Crypto, Blockchain Increases in ICO and Digital Asset A near dozen financial regulators Operations Licenses from countries around the world have The Thai Securities and Exchange collaborated to form a new network to Commission (SEC) says they have seen help further the development of financial increased interest in licenses to operate technologies like blockchain. initial coin offerings (ICOs) following the Now labeled as the ‘Global Finance Ministry's announcement to Financial Innovation Network (GFIN)’, introduce ICO regulations, the Bangkok the alliance sees 11 financial regulators Post reported August 8. of their respective nations come The SEC secretary-general Rapee together under a proposed mandate by Sucharitakul told the Bangkok Post said the U.K.’s Financial Conduct Authority that almost 50 ICO projects have (FCA) earlier this year. The British expressed interest in a becoming regulator is working with 11 certified, but it remains unclear whether counterparts from nations including all of them will be issued the proper Australia, Abu Dhabi, Bahrain, Dubai, credentials to raise funds. Hong Kong, Singapore and Canada. Rapee added that three out of five The GFIN’s genesis is based on ICO portals interested in applying for the idea of a ‘global sandbox’, the FCA licenses have already filed with the SEC. said, suggesting the network will help Additionally, around 20 companies that bridge innovative firms to interact with aim to operate as digital assets regulators both domestically and exchanges have also applied for internationally “between countries as authorization. they look to scale new ideas”, the announcement added. 16-August-18 - Thai​ SEC: Interest Increases in ICO and Digital USA Asset Operations Licenses Thai regulators announced 1-August-18 - ​US Treasury Dept. Thursday, August 16, that they have so Fintech Innovation Report Touches on far approved seven business entities to Crypto, Blockchain conduct cryptocurrency operations as A major new report from the U.S. Treasury Department published July 31 has called for a more agile and

Zeus.Exchange​ - We Tokenize Stock Markets 7 conducive regulatory approach to The disapprovals come one day innovations in the fintech sector. ahead of the anticipated deadline, The 222-page report, devoted to August 23, stipulated for a pair of BTC ‘Nonbank Financials, Fintech, and ETFs that had been submitted by Innovation,’ only fleetingly touches upon ProShares in conjunction with the New cryptocurrencies and distributed ledger York Stock Exchange (NYSE) ETF technologies (DLT) such as blockchain, exchange NYSE Arca. noting that these are currently being The SEC has now rejected a “explored separately in an interagency further seven proposed ETFs alongside effort led by a working group of the the ProShares pair –– these being five Financial Stability Oversight Council.” further proposed ETFs from Direxion, Overall, the document indicates a also for listing on NYSE Arca –– and strong impetus on the part of the U.S. two proposals from GraniteShares, for government to foster nascent financial listing on CBOE. technologies and to modernize existing regulatory frameworks in order to 30-August-18 - California​ State remove impediments to their evolution. Legislature Passes Bill to Establish Blockchain Working Group 6-August-18 - ​Stripped Down California’s AB 2658, a bill that Version Of Ohio Blockchain Bill Signed calls for the establishment of a working By Governor group on blockchain technology, has An Ohio bill affirming the legal passed both houses of the state status of blockchain signatures and legislature and will now head to the contracts has become law. governor for approval, according to In May, Ohio Senator Matt Dolan public documents. submitted to the state legislature a bill The bill would would define intended to clarify the legal status of blockchain as “a mathematically blockchain signatures and contracts. secured, chronological, and The bill, SB300, failed to advance but decentralized ledger or database,” and portions of its language were inserted as requires the Secretary of the amendments into another bill, SB220, Government Operations Agency to form which is concerned with cybersecurity a blockchain working group on or before and has now become law in the state. July 1, 2019. SB220 was passed by the Senate Per the bill, the group should in May and by the House in June, and consist of participants from both had been awaiting a decision from the technology and non-technology governor until Friday, when John Kasich industries, as well as appointees with a finally announced he had signed the bill. background in law, and representatives of privacy and consumer organizations. 23-August-18 - SEC​ Rejects 9 Bitcoin ETF Applications from 31-August-18 - California​ ProShares, Direxion and GraniteShares Legislature Passes Blockchain Working The U.S. Securities and Exchange Group Bill Commission (SEC) has rejected a total The California Legislature has of nine applications to list and trade passed Assembly Bill 2658, which various Bitcoin (BTC) exchange-traded provides a legal framework for the funds (ETFs) from three different recognition of blockchain technology in applicants, according to a three the state’s insurance code. separate orders published by the SEC Introduced by Democrat Ian today, August 22. Calderon, the bill sought to amend Sections 1624.5, 1633.2, and 1633.75 of

Zeus.Exchange​ - We Tokenize Stock Markets 8 the Civil Code, Section 25612.5 of the Transactions Act offered legal Corporations Code, Section 16.5 of the protection and enforceability to the use Government Code, and Section 38.6 of of electronic signatures in creating the Insurance Code, with relation to contracts, specifying that in the events blockchain technology, electronic of a requirement for writing or a signatures, and smart contracts. signature, an electronic record or Under previously-existing signature should suffice. California law, the Uniform Electronic

Zeus.Exchange​ - We Tokenize Stock Markets 9 II. Tokenization 3-August-18 - ​BitBay Partners Tether (USDT) has issued new With German Firm to Enable Equity tokens worth $50 million on August 11, Token Trading with Fiat Currencies according to block explorer Cryptocurrency exchange BitBay OmniExplorer. has partnered with a Berlin-based In late March, Tether had released blockchain-powered equity fundraising 300 mln USDT tokens priced at $1 per platform Neufund, according to an token. August 2 press release. The partnership Over the past 30 days, Tether’s will reportedly enable investors to buy market capitalization lost around $300 and sell equity tokens with fiat million, down from $2.7 billion in currencies. mid-July to the current $2.4 billion, According to the press release, according CoinMarketCap. Neufund is aiming to become the first end-to-end primary issuance platform 16-August-18 - Robinhood​ for security tokens, specializing in equity Private Shares to be Tokenized tokens. The company backs up its Robinhood, a US-only fintech objective with a study conducted by company that makes it easy to invest in Toronto-based firm Polymath, which stocks and cryptos with a valuation of says that by 2020 the security token $5 billion, is to have some of its private market will hit a value of $10 trillion. shares tokenized by Swarm, a crypto Neufund believes that tokenized start-up. securities will provide necessary liquidity to traditional investment assets, 16-August-18 - The​ New Art including equity instruments. Economy: How Would You Like to Own a Warhol 10-August-18 - World​ Bank Investing in fine art has generally Mandates Commonwealth Bank of been the provenance of the very Australia to Issue Bond Using wealthy. Only they can afford the lofty Blockchain Tech prices that masterpieces and iconic Commonwealth Bank of works of contemporary art command. Australia (CBA), the largest bank in the One company is looking to country, has been mandated by the change all this using blockchain World Bank to arrange a bond issue technology. Very soon, average Janes exclusively on a blockchain, according and Joes with $20 in their pockets will to a press release Aug. 10. be able invest in fine artwork created by CBA will reportedly arrange the Andy Warhol, Claude Monet and others. first bond globally to be “created, allocated, transferred, and managed 16-August-18 - Securrency​ using blockchain technology.” The Expands Presence in UAE: US Blockchain Offered New Debt Technology Firm Focusing on Instrument (bond-i) will be issued and Tokenized Securities and Crypto Assets distributed on a blockchain platform Securrency, Inc., a US-based under the operation of the World Bank in provider of financial and regulatory Washington, and CBA in Sydney. technology products for the tokenized issuance and trading of securities, today 13-August-18 - Controversial​ announced its intention to secure a Stablecoin Tether Issues New Batch of license to operate a crypto-asset USDT Tokens Worth $50 Million business with strategic partners under

Zeus.Exchange​ - We Tokenize Stock Markets 10 the new Abu Dhabi Global Market believe that Abele Group may be the first (ADGM) crypto regulatory framework. ICO approved by the SEC.” Securrency will file an application with the Financial Services Regulatory 23-August-18 - SharesPost​ and Authority (FSRA) of ADGM, the Securitize Announce Partnership to international financial center in the Facilitate Listing of Security Tokens Emirate of Abu Dhabi in the United Arab Securitize issuers now able to list Emirates (UAE). security tokens on SharesPost platform, increasing liquidity and access. 17-August-18 - Stakeholder​ Registery Platform Vertalo Announces 23-August-18 - Securitize​ and Partnership With Security Token Blocktrade.com Announce Partnership Platform Polymath to Support Compliant Trading of Vertalo, a stakeholder registry Security Tokens and compliance platform for regulated In our vision of building an security token offerings, announced on ecosystem of the Future of Finance, we Friday it has formed a partnership with are developing partnerships with security token platform Polymath. similarly bold and driven companies. According to Vertalo, the new Today, we are proud to announce an collaboration will allow broker-dealers agreement with Securitize, a turnkey, and issuers to offer state-of-the-art white-label solution for the tokenization compliant tokens, as well as maintain a of securities issued by funds, registry of all token holders for the life of companies, and other entities. The the issuance. mutually beneficial partnership will provide additional industry support for 21-August-18 - Abele​ Group USA Securitize’s Digital Securities Protocol announced submission of Confidential (DS Protocol) and facilitate the Reg A+ Filing for an Initial Coin Offering compliant trading of security tokens with SEC issued by Securitize. The Abele Group, an international financial technology company launching 24-August-18 - Singapore​ one of the world’s first digital custodian Central Bank and Stock Exchange for the token economy, announced Explore Blockchain for Settlement of today that it has submitted a Tokenized Assets confidential filing on Form 1-A with the The Monetary Authority of U.S. Securities and Exchange Singapore (MAS) and Singapore Commission (the “SEC”) pursuant to Exchange (SGX) are collaborating on the Regulation A+ for its proposed initial development of new capabilities for the coin offering (“ICO”). Abele Group seeks settlement of tokenized assets across to become the first company to be different blockchain platforms, the qualified by the SEC to conduct an ICO central bank announced on Friday. under Regulation A+. The project aims to allow “The Abele Group is launching financial institutions and corporate one of the world’s first digital custodian, investors to carry out simultaneous and is committed to doing so in exchange and final settlement of accordance with applicable rules and tokenized digital currencies and regulations,” said Phil Woods, CEO of securities assets all the while improving Abele Group. “We’re one of the first operational efficiency and reducing groups to submit a filing with the SEC settlement risks. for an ICO under Regulation A+, and following the SEC’s review process, we

Zeus.Exchange​ - We Tokenize Stock Markets 11 24-August-18 - Crowdfunding​ new way to invest in one of the world’s Firm Indiegogo to Sell Real most well-known and trusted assets, Estate-Backed Security Tokens real estate. Blockchain technology will The international crowdfunding enable Building Block REIT to virtually firm Indiegogo will promote a new eliminate friction in REIT shareholder real-estate-backed token, according to a communication by allowing direct post on the company’s website. dividend disbursement, secure user The asset-backed cryptocurrency voting, and smart contract functions will enable accredited investors to buy that execute automatically when pre-set shares of the St. Regis Aspen hotel in parameters are met. the form of digital tokens. According a report from The Verge, the upcoming 28-August-18 - OpenFinance​ digital token Aspen Coin is registered Launches Regulated Trading Platform with the U.S. Securities and Exchange for Security Tokens Commission (SEC), and will be available Trading platform OpenFinance for purchase with U.S. dollars, as well as has launched a regulated alternative major cryptocurrencies Bitcoin (BTC) trading system (ATS) for security and Ethereum (ETH). tokens, CEO Juan Hernandez announced Tuesday. 25-August-18 - Security​ Tokens Accredited investors in the U.S. in 2018: What Now, and What Next? can now purchase or trade the digital The concept of ‘Security Tokens’ assets on OpenFinance's platform. has been a subject of debate and Retail investors who cannot receive controversy since they came to accreditation may also be able to trade prominence . How have they changed certain assets, though after a 12-month since they were first introduced, and holding period, Hernandez told where might they be heading next? CoinDesk. This was around Winter 2017 – 2018. The same time when the 28-August-18 - Swarm​ Fund Securities and Exchange Commission Delves Into Compliant Security Token (SEC) in the USA began focusing their Transactions attention on this new and previously Swarm intelligence refers to the unregulated form of cash. Before many phenomenon of self-organizing other national, government authorities systems. Although this concept is worldwide decided to follow suit. largely employed in artificial intelligence It was also around the same time and interfacing research, swarm when the first ‘bitcoin futures’ contracts behavior has long been observed in were launched and sold by enterprising biological communities, for example, new and existing firms – with the SEC bird flocking, fish schooling, and even ruling creating a significant space for bacterial growth. In considering the traditional investment and old-money to swarm model, each organism's actions pour into the market. inform a collective, intelligent behavior exemplified by the whole group. 27-August-18 - Blockchain​ Meets REIT – A New Era in Real Estate 29-August-18 - Swarm​ Fund Investing Delves Into Compliant Security Token Building Block, Inc. has Transactions announced it is the first North American Swarm intelligence refers to the REIT (Real Estate Investment Trust) to phenomenon of self-organizing embrace the emerging efficiencies of systems. Although this concept is blockchain technology and provide a largely employed in artificial intelligence

Zeus.Exchange​ - We Tokenize Stock Markets 12 and interfacing research, swarm regulated alternative trading system behavior has long been observed in (ATS) for security tokens, according to biological communities, for example, information shared with Cointelegraph bird flocking, fish schooling, and even August 29. bacterial growth. In considering the In the U.S. and Canada, an ATS is swarm model, each organism's actions a non-exchange trading venue that that inform a collective, intelligent behavior matches buyers and sellers to find exemplified by the whole group. Swarm counterparties for transactions. They Fund applies this idea to its private are usually regulated as broker-dealers equity blockchain. Its crew seeks to instead of as exchanges. cultivate a financial environment that In an email, Juan Hernandez, CEO can operate without much formal at the U.S.-based OpenFinance, control because of the trust and confirmed to Cointelegraph that the transparency Swarm is building into the company has created the trading system. system, noting that the official press release will appear later on the 29-August-18 - Swarm’s​ global company’s Medium account. compliance protocol provides open infrastructure for the security token 30-August-18 - Neon​ Exchange industry (NEX) – First Regulated Exchange PALO ALTO, CA — AUGUST 29, Security Token in Europe – Announces 2018 — Swarm (www.swarm.fund), the ICO blockchain for private equity, today Liechtenstein-based announced the release of its Market decentralized cryptocurrency exchange Access Protocol (MAP) for tokenized Neon Exchange (NEX), has announced security trading. Currently, there are the times and dates of its token sale several qualifications that must align for beginning September 3rd. Off the back security tokens to be traded compliantly. of the exciting news about regulatory For a transaction to be rendered fully approval from the Financial Market compliant at the point of execution, Authority (FMA) of Liechtenstein, it is parties must confirm the existence of officially the first regulated exchange valid credentials for each participant, security token in Europe and one of the and also ensure adherence to token first and few regulated securities in the requirements and restrictions. Swarm’s world. Market Access Protocol provides a The round 1 of the sale will start streamlined solution that facilitates the Monday, September 3rd on the first efficient flow of compliant transactions block after 18:00 UTC and end Friday, while offering both privacy protection for September 7th on the last block before participants and regulatory compliance. 18:00 UTC. Round 2 of the sale will start Monday, September 10th on the first 30-August-18 - OpenFinance​ block after 18:00 UTC and end Friday, Launches Regulated Alternative Trading September 14th on the last block before System for Securities Tokens 18:00 UTC. OpenFinance, a security token trading platform, has launched a

Zeus.Exchange​ - We Tokenize Stock Markets 13 III. Cryptoexchanges & Trading platforms 17-Aug-18​ – Binance,​ LCX Binance Collaborate to Launch Fiat-to-Cryptocurrency Exchange in 10-Aug-18​ – Binance​ Unveils Liechtenstein Demo of New Decentralized Binance, the world’s leading Cryptocurrency Exchange cryptocurrency exchange by volume, Binance, the world’s largest has partnered with Liechtenstein cryptocurrency exchange, has Cryptoassets Exchange (LCX) to create unveiled the first demo of its and launch a cryptocurrency trading much-anticipated decentralized platform that allows users to trade trading platform, which will serve as a directly against fiat currencies such as core component of the firm’s future the euro. public blockchain. The Malta company announced During the brief demo, a Binance LCX as the forefront of their Binance engineer demonstrated how trading operations in the Central to use the platform to issue a new European economy. This newly cryptocurrency token and then list it established joint venture will allow on the decentralized exchange (DEX). cryptocurrency users to trade their The engineer then created and filled a crypto-assets for Swiss francs (CHF) sell order using two separate and euros (EUR). Binance will be DEX-connected computers. The overseeing operations and management platform does not yet feature a GUI, of the technology platform, while its so the demo was conducted using a unification with LCX will be responsible command-line interface (CLI). for managing customer support and

regulatory compliance. 14-Aug-18​ – Binance​ Argues it Does Not Charge 400 Bitcoin For Listing, CEO Clarifies Bitmex Changpeng Zhao, the CEO of 9-Aug-18​ – Bitcoin​ Trading Binance, has officially stated that the Platform BitMEX Hits 1 Million BTC in company does not charge 400 bitcoin Daily Volume ($2.5 million) to list cryptocurrencies on Bitcoin investors might be its platform. suffering under the weight of one of the Last week, cryptocurrency asset’s heaviest-ever bear markets, but researcher Christopher Franko claimed for cryptocurrency derivatives that Binance, the world’s largest digital exchanges like BitMEX, the mood is asset exchange, has been charging anything but sour. cryptocurrencies a listing fee of 400 BTC “What market downturn?,” began to integrate them on its exchange. a press release sent from a public Franko cited a screenshot of an relations firm representing BitMEX, email with the address reporting that the Seychelles-based [email protected], an address which exchange had on Wednesday crossed 1 allegedly said that it costs 400 BTC to million BTC in daily trading volume for list Expanse, his blockchain project, on the second time. the exchange. Altogether, the platform saw 1,027,214.62 bitcoin contracts traded for

Zeus.Exchange​ - We Tokenize Stock Markets 14 the day, worth approximately $6.6 billion every six months. The three other big at the present exchange rate. cryptocurrency exchanges – Coinone, UPbit, and Korbit – have all successfully 22-Aug-18​ – Crypto​ Exchange renewed the contracts with their BitMEX Rents World’s Most Expensive respective banks. Offices in Hong Kong Bitcoin may not be reaching for 4-Aug-18​ – Bithumb​ the ‘moon’ [yet] but BitMEX is reportedly Cryptocurrency Exchange Suspends going after something else whose price Creation Of New AccountsSouth Korean has been skyrocketing – offices in Hong Crypto Exchange Bithumb to Reopen Kong. Withdrawals, Deposits for Nine Cryptos According to the Hong Kong South Korea's leading virtual Economic Times, leveraged bitcoin currency exchange Bithumb is set to trading firm BitMEX has just taken reopen withdrawals and deposits today, occupancy of the most expensive offices according to an official announcement in the world. Per the business August 4. publication, the bitcoin exchange will The world's twelfth largest occupy Cheung Kong Center’s 45th cryptocurrency exchange by trade floor. volume noted that the time for resuming The average rent per square foot withdrawals and deposits has been at the new location is US$28.66, more moved from August 4 at 11 a.m. [Korea than nine times higher compared to the Standard Time] to 7 p.m. [KST]. US$3.18 per square foot that BitMEX In a separate post, Bithumb was paying at its old headquarters – a stated that it is first reopening the logistics and warehouse district in Hong withdrawal and deposit services for nine Kong’s Victoria Harbor. With the entire altcoins, adding that it has been slightly floor consisting of 20,000 square feet, delayed in order “to provide a more the leasing expenses will add up to stable service environment.” US$573,200. 29-Aug-18​ – Fifth​ Largest Crypto Bithumb Exchange Bithumb to Reopen Account Registrations, Media Report 1-Aug-18​ – Bithumb​ Bithumb, one of the largest South Cryptocurrency Exchange Suspends Korean cryptocurrency exchanges, will Creation Of New Accounts open up account registrations after a One of South Korea’s "big four" month-long freeze, local media outlet digital asset exchanges will no longer Yonhap News reports Wednesday, allow for the creation of new real-name August 29. virtual accounts, due to its failure to sign According to a spokesperson a contract with a partner bank. from banking partner Nonghyup Bank, According to BusinessKorea, Bithumb will meet specific requirements Bithumb will at least temporarily cease as dictated by South Korean law in creating new accounts on its exchange. return for regaining banking support. In January, the Korean Nonghyup had previously government created new regulations suspended its services for Bithumb at that require cryptocurrency exchanges the end of July, rumors at the time to partner with banks to implement the suggesting the decision had come after now-mandatory "real name system" the exchange lost $17 million in its most when opening new accounts, as an recent hack a month previously. attempt to prevent money laundering. These partnerships require renewal

Zeus.Exchange​ - We Tokenize Stock Markets 15 Rialto, which presently offers its Bittrex users a regulated ATS for trading fixed income products, is seeking permission 20-Aug-18​ – US:​ Four Crypto from regulators to extend its ATS Exchanges Establish Self-Regulatory services into the digital securities space. Association for Digital Commodities To this end, communication with Industry regulators alongside Bittrex is ongoing. Crypto exchanges Gemini, The proposed digital securities Bitstamp, Bittrex, and bitFlyer USA have platform with bring together Bittrex’s announced the creation of a experience with cryptocurrency trading, self-regulatory organization for digital digital wallets, cybersecurit, and commodities, such as cryptocurrencies, blockchain technology with Rialto’s Business Insider reports August 20. experience with securities, and its The new group, dubbed “Virtual licensed broker-dealer ATS. Commodity Association Working Group,” aims to help large-scale investors get more comfortable with the crypto Coinbase market, work on formulating industry 2-Aug-18​ – Coinbase​ Adds standards, and “be a precursor to the British Pound Support, Customers to formation of a self-regulatory Buy/Sell Crypto via UK Banks organization for digital commodities like Major U.S. crypto exchange and [B]itcoin and [E]thereum” Business wallet Coinbase has started rolling out Insider reports. British pound (GBP) support, according The first meeting of the newly to an official blog post August 1. created association is set to take place The new feature will enable in September this year. Business Insider Coinbase customers with UK bank quotes its source as explaining the kinds accounts to conduct faster transfers, of problems the group wants to help letting customers buy and sell crypto for solve: pounds within the same day. “In equities, securities exchanges As Coinbase points out in their have their own organization to come up announcement, prior to adding GBP with common standards and jointly support, the process of buying or selling respond to declarations by regulators. crypto for fiat took several days for the The new group could serve as the company’s UK customers, requiring equivalent for the crypto world by them to first convert their crypto into coming up with best practices for the euros, and then into GBP via industry, looking at ways to boost international wire transfer. liquidity, and stamping out market manipulation.” 3-Aug-18​ – Coinbase​ Custody Considers Addition of 37 New Assets 23-Aug-18​ – Rialto​ Teams up Including XRP, EOS and XMR With Bittrex for Digital Securities San Francisco-based exchange Trading Platform and wallet service Coinbase announced Alternative Trading System (ATS) today, Aug. 3 that it is exploring the provider Rialto Trading announced addition of 40 new assets to its custodial today, Aug. 23, that it is partnering with service, Coinbase Custody. cryptocurrency exchange Bittrex to The blog post stresses that the create a trading platform for crypto assets may be added “for storage blockchain-based securities, pending only,” and that Coinbase will add them regulatory approval. “as quickly and safely as possible.” Coinbase states that they are not

Zeus.Exchange​ - We Tokenize Stock Markets 16 currently considering the assets for Former Amazon Web Services trading. According to the post: (AWS) and Microsoft employee Tim “We are making this Wagner has joined Coinbase as vice announcement internally at Coinbase president (VP) of engineering, according and to the public at the same time to to a blogpost August 6. remain transparent with our customers Wagner will now lead Coinbase’s about support for future assets.” engineering team, which is “central to [Coinbase’s] mission of creating an open 4-Aug-18​ – Crypto​ Mining Firm financial system for the world,” Coinbase Argo Blockchain Listed on London writes in the post. Stock Exchange, Raises $32 Million Aiming to build the “most open, Mining firm Argo Blockchain PLC secure, and accessible financial has reportedly become the first crypto system,” Wagner will also be company to join the London Stock responsible for expanding the team by Exchange (LSE), raising around $32 hiring engineering talent in San million for a total valuation of about $61 Francisco, New York, and Chicago, million, The Telegraph reports August 3. according to his LinkedIn profile. London-based Argo offers customers to the ability to mine four 7-Aug-18​ – Coinbase​ Begins cryptocurrencies — Bitcoin Gold (BTG), Taking Ethereum Classic Deposits, Ethereum (ETH), Ethereum Classic Raises Buy Limit to $25,000 (ETC), and Zcash — through their own It’s been a tough week for most computers or mobile devices for a cryptocurrency investors, as the monthly subscription fee. The service groundbreaking news that the world’s provides immediate access to the firm’s largest stock exchange operator is mining rigs and enables direct deposits launching a bitcoin market failed to of all mined coins to the users’ digital translate into bullish price movement. wallets. For ethereum classic supporters, however, the week could not have gone 6-Aug-18​ – Coinbase​ Returns to much better. Wyoming After Successfully Renewing Over the past two days, ethereum Money Transmitter License classic has been listed on two of the U.S. crypto exchange and wallet most prominent cryptocurrency trading provider Coinbase has been given the platforms. green light from regulators to resume its Yesterday, as CCN reported, services in the state of Wyoming, ethereum classic became the sixth according to an official announcement cryptocurrency listed on stock trading published August 3. app Robinhood, whose crypto trading The exchange has now service is now available in 19 U.S. reportedly successfully renewed its states. money transmitter license in the state of Wyoming. The license had been 16-Aug-18​ – Coinbase​ to Pursue suspended as of mid-2014 due to Decentralized Form of Identification stipulations in state law that required all Following Acquisition exchanges to “double reserve” the Cryptocurrency exchange and digital assets of state residents with fiat wallet service Coinbase has acquired currency. San Francisco-based startup Distributed Systems Inc., which works on 7-Aug-18​ – Coinbase​ Hires decentralized identity solutions, Former AWS and Microsoft Employee according to an August 15 Tim Wagner as New VP of Engineering announcement.

Zeus.Exchange​ - We Tokenize Stock Markets 17 In the blog post, B Byrne, project struggling to maintain consumer activity manager for Identity at Coinbase, said during the current downturn. Distributed Systems will help the Citing data from CoinApi, exchange work on new ways to validate cryptoasset research firm Diar reports and verify identity within its plans to that USD-denominated cryptocurrency develop an open financial system. The trading has plunged in 2018, even as blog post says: large cryptocurrency-to-cryptocurrency “Blockchain technology that exchanges headquartered in other parts powers cryptocurrencies offers a new of the world have seen stable or even way to let us all be “verified” everywhere rising volumes. we go on the internet, feeling safer According to the publication, about our interactions with others and Coinbase — the most well-known opening the door to the experiences that cryptocurrency trading platform in the require trust.” U.S. — has seen volumes plunge by 83 percent from their all-time high in 16-Aug-18​ – Coinbase’s​ CEO January. In July, Coinbase processed Wants to Manage Bitcoin Adoption an estimated $3.9 billion worth of trades, Expectations down from a peak of nearly $21 billion. As the cryptocurrency markets Bitstamp and Kraken, both of whom suffer from what appears to be a offer USD trading pairs, have also prolonged bear market, investors are experienced significant declines, though looking towards long-term prospects that they have been less-pronounced than could aid the price. However the CEO of those seen on Coinbase. Coinbase has a warning for anyone getting too excited about widespread 21-Aug-18​ – How​ Coinbase Will Bitcoin adoption in the near future. Continue to Bring in Institutional Bitcoin’s price is currently sitting Investors Into Crypto at $6,400, up from weekly lows of Adam White, the vice president $5,950 on Coinbase. As Bitcoin’s price and general manager at Coinbase, has fell, many altcoins were pushed to yearly recently reaffirmed the company’s lows, including Ethereum (ETH) whose long-term strategy to lure in institutional price dropped to around $250, and investors into the crypto market. Litecoin (LTC) whose price hit lows of The official statement of White $51 earlier this week. was released after Coinbase, the world’s Altcoin and Bitcoin investors alike largest cryptocurrency brokerage and are looking towards upcoming wallet platform, released the industry’s developments like the Starbucks, first suite of institutional products, Microsoft, and ICE Bitcoin payment targeting large-scale investors in the provider in order to maintain hope for traditional finance sector. future success. In an official blog post entitled “Introducing our Institutional Core 20-Aug-18​ – Coinbase​ Trading Principles,” White disclosed the five core Drops 83% Since January, Offshore principles Coinbase have employed to Cryptocurrency Exchanges Make Gains service institutional investors in US Cryptocurrency exchange giant markets. Coinbase might, as market research firm One of the five core principles, Bernstein recently said, be on the cusp arguably the most important out of all, of assembling an “unassailable” market includes the operation of share in the U.S., but that doesn’t mean institutional-grade tools and teams that that the San Francisco-based firm isn’t can assist large-scale investment firms and financial institutions in the

Zeus.Exchange​ - We Tokenize Stock Markets 18 processing of allocating new capital into In light of the announcement, the crypto sector without being in conflict Yoni Assia, co-founder and CEO at with federal regulations and policies. eToro, said: “At eToro we believe in eToro diversification and we are committed to bringing more crypto assets onto our 21-Aug-18​ – Seven​ Premier platform for our users to invest in.” League Football Clubs Sign Bitcoin Advertising Deal With eToro UK-based trading platform eToro Huobi has signed an advertising deal with 16-Aug-18​ – Crypto​ Exchange seven Premier League football clubs Huobi Partners with Five Firms to paid in Bitcoin for the first time, the Launch Trading Platforms parties revealed Tuesday, August 21. The third largest cryptocurrency According to various sources, UK exchange on the planet has partnered clubs Tottenham Hotspur, Brighton & with five firms to help them launch their Hove Albion, Crystal Palace, Cardiff own trading platforms. The Huobi Group City, Leicester City Football Club, will provide the framework for the new Newcastle United and Southampton exchanges using the recently launched announced they had signed up to host Huobi Cloud. eToro advertisements. The popular Singapore-based Blockchain and cryptocurrency cryptocurrency exchange Huobi has integration in football stadiums and the announced partnerships with five firms industry will also form a focus for the hoping to launch their own trading partnerships, eToro so far not giving platforms. details as to the nature of the Yatai International Holding “exploration.” Group, Vnesheconombank, Chi Fu The move marks a fresh Group, Asia International Finance milestone for cryptocurrency integration Holdings, and Dbank Group are the in mainstream football. Sporadic companies seeking to use the newly experiments have already come from launched Huobi Cloud service to create clubs elsewhere, including Turkey, new exchanges in the Philippines, where Harunustaspor hired a Taiwan, Indonesia, and Canada. professional player for Bitcoin in January. 21-Aug-18​ – Huobi​ Launches New Service to Streamline Token 21-Aug-18​ – eToro​ Adds IOTA, Listing Application Process Brings Number of Available Crypto Singapore-based cryptocurrency Assets to 12 exchange Huobi Group has launched a eToro, a global trading and new product designed to streamline the investment platform, has announced the token listing application process. addition of IOTA to its list of crypto According to a statement shared assets, bringing the total number with Cointelegraph, the new service, available to 12. which Huobi developed to provide a The move to add the 11th-ranked more transparent listing process, is cryptocurrency by market cap comes as called the Huobi Automated Listing investors seek more diversity with their Platform. portfolios. IOTA is now available on the Per the announcement, projects platform alongside Bitcoin, Ethereum, that want to list on Huobi Global or an BCH, XRP, Litecoin, Ethereum Classic, autonomous digital asset exchange Dash, Stellar, EOS, Cardano, and NEO. Huobi HADAX, will have to register and

Zeus.Exchange​ - We Tokenize Stock Markets 19 submit specific documentation about the project. The announcement states that Robinhood the Huobi Automated Listing Platform “will not automatically list any token or 6-Aug-18​ – Crypto​ Trading App coin that applies.” Robinhood Adds Support for Ethereum Classic 28-Aug-18​ – Randi​ Zuckerberg Commission-free crypto trading Joins Huobi’s Public Blockchain app Robinhood has listed Ethereum Advisory Committee Classic (ETC), according to an official Randi Zuckerberg, the elder sister announcement Monday, Aug. 6. of Facebook founder Mark Zuckerberg, Robinhood customers can also invest in has joined the advisory board of Bitcoin (BTC), Ethereum (ETH), Bitcoin cryptocurrency exchange Huobi to Cash (BCH), Litecoin (LTC), and develop Huobi’s new public blockchain, Dogecoin (DOGE), as well as monitor according to a recent press release. market data for ten other Zuckerberg, who worked at Facebook cryptocurrencies. for over six years, is also the founder Currently available in 19 states of and CEO of Zuckerberg Media. the U.S., Robinhood crypto trading app Per the announcement, was launched in February, 2018, initially Zuckerberg, along with the CEO of listing Bitcoin and Ethereum, and Chinese mining giant Bitmain Jihan Wu, available only in four states. On July 12, have been appointed to the Huobi Chain Robinhood launched support for Bitcoin Expert Advisory Committee to provide Cash and Litecoin, just a few days prior expert opinions and advice for the Huobi to the introduction of Dogecoin. public chain. Robinhood originally intended to operate its zero-fee business “on break 28-Aug-18​ – Report:​ Huobi even basics” and does not “plan to profit Acquires Controlling Share in from it for the foreseeable future,” giving Investment Company via Backdoor priority to expanding its customer base Listing instead. Chinese cryptocurrency exchange Huobi has reportedly acquired Shapeshift the controlling stock interest in Hong Kong-based Pantronics Holdings Ltd. 9-Aug-18​ – ShapeShift​ to Add through a backdoor listing deal, local Multi-Crypto Swapping Tool to Its news outlet JRJ.com reported August Exchange Platform 27. On August 8, 2018, A backdoor listing, which is also ShapeShiftAG, the parent company of known as a reverse takeover or reverse ShapeShift.io, one of the world's largest Initial Public Offering (IPO), allows a decentralized cryptocurrency privately held company to purchase a exchanges, announced its acquisition of publicly traded company avoiding the Bitfract, a blockchain software startup public offering process, regulatory based in Austin, Texas. issues, and due diligence. Upon Bitfract’s crypto trading tool completion of the deal, the buyer gains allows users to swap bitcoin for a basket automatic inclusion on a stock of cryptocurrencies within a single exchange. transaction. Speaking to Bitcoin Magazine, ShapeShift founder and CEO Erik Voorhees revealed that this sort of multi-crypto trading solution has been a long-term target of ShapeShift's internal

Zeus.Exchange​ - We Tokenize Stock Markets 20 engineering team. One thing that stood out about Bitfract for Voorhees was the 29-Aug-18​ – Lloyd’s​ Of London “creativity and drive of the team.” to Insure Custody Platform for Digital Currency tZero U.K. insurance market leader Lloyd’s of London will insure a crypto 10-Aug-18​ – Overstock​ Shares custody platform by U.S.-based Surge Following tZERO Investment custodial firm Kingdom Trust, according Announcement to a press release published August 28. Overstock shares soared by 21 Founded in 1686, Lloyd’s of percent in after-hours trading following London is a British insurance firm that is news that Hong Kong-based private active in over 200 countries. The equity firm GSR Capital will invest up to company reportedly paid claims in the $270 million in tZERO, an Overstock amount of £68 billion ($87 billion) blockchain subsidiary, CNBC reported between 2011 and 2016. Aug. 9. Kingdom Trust, which serves over The two companies signed a deal 100,000 customers and has $12 billion wherein GSR Capital will invest up to in assets under custody, is the $374.55 million in exchange for tZERO reportedly the “first” regulated financial and Overstock shares. GSR will buy $30 institution to offer qualified custody for million worth of tZERO tokens from the digital asset investments. Kingdom Trust e-commerce retail giant and will аlso provides digital currency storage invest up to $270 million in the company services for more than 30 different at a valuation of $1.5 billion, giving the assets. investment firm an 18 percent stake in tZERO. The stock jumped 4.47 percent 30-Aug-18​ – Kingdom​ Trust during trading hours and closed at Partners with Insurance Firm for Its $38.60 per share. Digital Asset Custodial Services A U.S.-based multi-asset custody Custodians firm has announced that it will launch a fully insured storage option for clients 6-Aug-18​ – Bloomberg:​ Goldman seeking to secure their digital currency Sachs Plans ‘Crypto Custody’ Offering, holdings. To facilitate this, Kingdom Despite Bleak Market Predictions Trust has partnered with the respected Goldman Sachs plans to “offer insurer Lloyd’s of London. [clients] custody for crypto funds,” For those not technically minded, insider sources told Bloomberg August storing digital assets securely can be 6, as the investment bank says it something of a nightmare. remains “undecided” on its Firstly, private keys need to be cryptocurrency plans. generated in a completely offline As the publication reports, environment. These then need backing Goldman, which in May first hinted it up and storing in a way that will protect would trade Bitcoin futures, now aims to them from prying eyes, real-world and offer various products linked to digital cybercriminals, and natural disasters. assets “in response to client interest.” Then there’s the matter of passing the “In response to client interest in value on should the holder of the funds various digital products we are exploring pass away. how best to serve them in this space,” a spokesman said, adding: “At this point we have not reached a conclusion on the scope of our digital asset offering.”

Zeus.Exchange​ - We Tokenize Stock Markets 21 bitcoin, ethereum (ETH), ripple (XRP), Other and litecoin (LTC).

1-Aug-18​ – Bithumb​ 3-Aug-18​ – Intercontinental​ Cryptocurrency Exchange Suspends Exchange to Introduce Bakkt, a Crypto Creation Of New Accounts Payment System for Retailers Crypto data tracker This November, cryptocurrency CoinMarketCap.com (CMC) has users will be introduced to Bakkt, a launched a professional, paid API new company designed to give targeting developers and funds, millions of retail merchants the according to an official announcement chance to buy, sell and trade digital published August 1. currencies — and even buy a cup of The new product reportedly aims coffee. The company is being to serve as a key “pipeline” that will launched by Atlanta-based provide accurate and differentiated data Intercontinental Exchange (ICE), the for developers and funds across crypto parent company to the New York product prices, market capitalization, Stock Exchange (NYSE) and a leading conversions, and trading pair data operator of clearinghouses, global aggregated from multiple exchanges. exchanges, and data and listing According to CMC’s services. announcement, the new features offered Bakkt CEO Kelly Loeffler come at a fee, and are tiered between explained, “Bakkt is designed to “hobbyist” access that starts from $79 serve as a scalable on-ramp for per month to a “professional” contract institutional, merchant and consumer that starts from $699 per month. This participation in digital assets by latter option is marketed as “best for promoting greater efficiency, security scaling crypto projects,” and extends the and utility. We are collaborating to available historical data across a build an open platform that helps five-year time span. unlock the transformative potential of digital assets across global markets 2-Aug-18​ – Bitcoin​ Exchange and commerce.” CoinJar Launches Australia’s First Cryptocurrency Index Fund 4-Aug-18​ – Korea’s​ Biggest Australian bitcoin exchange Crypto Exchange UPbit Comes Out CoinJar has launched the country’s first Clean in Audit after Raid cryptocurrency index fund available to UPbit, currently the biggest crypto wholesale investors. exchange in South Korea, came out Announced on Thursday, the clean in an audit report which proved the CoinJar Digital Currency Fund provides exchange had 100 percent of the a convenient way for wealthy Australian amount its balance sheet demonstrated. investors to obtain exposure to On May 11, as CCN reported, cryptocurrencies while offloading the UPbit was raided by local authorities custodial responsibility to another entity. under the suspicion of balance sheet The Digital Currency Fund has manipulation and inflated volumes. At two classes. The first, Bitcoin Class, the time, the Financial Services exclusively provides investors with Commission (FSC), the main financial exposure to bitcoin (BTC). The second, watchdog of South Korea, and the Mixed Class, tracks the market Korea Financial Intelligence Unit (KFIU) cap-weighted price movements of four secured the hard disks and accounting of the six largest cryptocurrencies: book os UPbit to evaluate claims from

Zeus.Exchange​ - We Tokenize Stock Markets 22 unknown sources that the exchange is foreign firms entering the Japanese insolvent. market – unless they’re a cryptocurrency Four days subsequent to the raid, firm. the UPbit team hired Yoojin, one of the According to the Nikkei on largest accounting firms in South korea, Sunday, the exchange operator is to validate the holdings of the exchange evidently sweating over the prospective and the company’s balance sheet. On takeover of Beat Holdings, a company May 15, Yoojin officially cleared UPbit, listed on its bourse by Noah Ark concluding that the holdings of UPbit Technologies, a Hong Kong company exactly matched the amount of user reportedly looking at launching funds listed on its balance sheet. cryptocurrency exchanges in Japan and other jurisdictions alongside plans for an 5-Aug-18​ – Major​ German Stock ICO launch. Exchange Announces “End-to-End” Cryptocurrency Infrastructure 18-Aug-18​ – U.K.​ Exchange After creating the BISON Crypto Facilities Launches Bitcoin Cash crypto-trading app, the Futures second-largest stock exchange in Bitcoin cash, the fourth-largest Germany continues to embrace cryptocurrency, took another step into cryptocurrency with its most recent the big leagues on Friday when a initiative. European derivatives trading platform Boerse Stuttgart is creating an launched the first regulated, ICO platform, a trading venue and USD-denominated bitcoin cash futures. custody for cryptocurrencies and This product, which began trading related services. on the U.K.-based Crypto Facilities on “Boerse Stuttgart Group is Friday at 4 p.m. local time, allows creating an end-to-end infrastructure investors to bet on the future price for digital assets. After the start of movements of bitcoin cash, as well as cryptocurrency trading via BISON, hedge risk in their overall cryptocurrency there will soon be a platform for initial portfolios. coin offerings (ICOs), a multilateral “We are pleased to be expanding trading venue for cryptocurrencies as our cryptocurrency derivatives offering well as solutions for safe custody. with the launch of Bitcoin Cash futures,” Boerse Stuttgart Group thus said Crypto Facilities CEO Timo continues to pursue its digitisation Schlaefer in a statement. “BCH is a top strategy and is becoming a pioneer five coin with a market capitalisation of for the digital transformation of around $10 billion and we expect our financial markets and financial new contracts to spur the evolution of products,” stated a recent the crypto markets by bringing greater announcement. liquidity and transparency to the digital asset class.” 13-Aug-18​ – Asia’s​ Largest Stock Exchange is Honestly ‘Troubled’ 29-Aug-18​ – Sharia​ Compliant by a Cryptocurrency Firm Cryptocurrency Exchange Sets its The planned acquisition of a Sights on Malta Tokyo Stock Exchange-listed company Malta continues to take the lead by a Hong Kong-based cryptocurrency in attracting innovative blockchain and firm is reportedly raising concerns within cryptocurrency ventures and now also in the bourse. the upcoming Islamic finance scene. The Tokyo Stock Exchange A new digital exchange aims to (TSE) is receptive, even welcoming, to attract listings from sharia-compliant

Zeus.Exchange​ - We Tokenize Stock Markets 23 financial technology startups, its chief (ETH), and Litecoin (LTC) yesterday, executive said, part of a growing number Yahoo clarified in an email to of firms looking to modernize Islamic Cointelegraph that, at the moment, its finance with cryptocurrency and new service will only be available on its blockchain at the heart of proceedings. iOS app. The exchange, known as Huulk, Yesterday, Cointelegraph has applied for a digital exchange reported that Yahoo Finance integrated license in Malta and hopes to partner a trading option for BTC, ETH, and LTC with several European exchanges in the on its platform when buy/sell buttons coming weeks, Huulk chief executive appeared on their website. When the Ibrahim Mohammed said. buy/sell buttons were absent from the webpage today, Yahoo Finance PR 29-Aug-18​ – UAE​ Startup representative Caitlin O'Neill explained: Launches First-Ever Sharia-Compliant “[Y]esterday's launch was for the Islamic Crypto Exchange iOS app only — it should still be Malta continues to take the lead available and visible there. Desktop, in attracting innovative blockchain and mobile web, and Android will be cryptocurrency ventures and now also in available in the coming weeks.” the upcoming Islamic finance scene. A new digital exchange aims to 31-Aug-18​ – BitMEX​ Research: attract listings from sharia-compliant Future Success of Bitmain Depends on financial technology startups, its chief Skilled Management executive said, part of a growing number A research unit for crypto of firms looking to modernize Islamic exchange BitMEX analyzed recent data finance with cryptocurrency and on Bitmain which was leaked to Twitter blockchain at the heart of proceedings. earlier this week. According to the report The exchange, known as Huulk, published on BitMEX blog Thursday, has applied for a digital exchange August 30, the Chinese mining giant has license in Malta and hopes to partner “legendary” potential, but future success with several European exchanges in the will depend on skilled management. coming weeks, Huulk chief executive Discussing the source of leaked Ibrahim Mohammed said. Bitmain financial data — apparently a Twitter account @brian_trollz — BitMEX 31-Aug-18​ – Despite​ Desktop states that it has “reason to believe the Appearance, Yahoo Crypto Trading Is authenticity of these documents.” Currently Available Only on iOS App Following a rollout of buy and sell options for Bitcoin (BTC), Ethereum

Zeus.Exchange​ - We Tokenize Stock Markets 24

IV. Top investments in blockchain startups Jeremy Zhao, as well as Professor Argo Blockchain IPO Ronghui Gu of Columbia University, acting as technical advisors for Atlas 6-August-18 – ​Crypto Mining Protocol, according to the press release. Firm Argo Blockchain Raises $32

Million in Pioneering London IPO Argo Blockchain, a UK-based digital coin mining company has become Audius the first cryptocurrency company to be 12-August-18 – ​Blockchain listed on the London Stock Exchange. Music Startup Raises $5.5 Million in The company recently completed Series A Funding an initial Public Offering (IPO), placing Audius, a decentralised, 156,250,000 ordinary shares accounting community-owned music sharing for 53.2% of its issued share capital platform billed as the blockchain’s valued at 0.16 GBP each.The IPO answer to Soundcloud has announced raised 25 million GBP ($32.5 million), the successful completion of a $5.5 increasing the company’s total market million Series A funding round as it valuation to 47 million GBP ($61.1 launches the world’s first ever million). blockchain-based music sharing protocol. Made on August 8, 2018, the announcement revealed that the funding Atlas Protocol round was led by General Catalyst and Lightspeed, with participation from 21-August-18 – ​Blockchain Kleiner Perkins, Pantera Capital, Startup Closes Multi-Million Dollar 122West and Ascolta Ventures Funding Round Led by SoftBank, Baidu Audius describes itself as “a Blockchain marketing platform blockchain-based alternative to Atlas Protocol (ATP) has concluded a SoundCloud to help artists connect seed investment round of several million directly with fans and monetize their dollars led by SoftBank China Venture work.” According to its developers, its Capital (SBCVC), according to an protocol exists in perpetuity, owned and August 20 press release. controlled by a decentralized community The multi-million dollar of artists, music lovers and developers. investment round, whose final amount was not disclosed, also included participation by Baidu Ventures (BV), Australian State Danhua Capital, and Fenbushi Digital. Government Atlas Protocol was formed by Nebulas Labs and the xGoogler 2-August-18 – ​Australian State Blockchain Alliance (xGBA), with Government Invests in Crypto Startup to co-founder of Jide Technology and the Promote Regional Tourism “first engineer” of Google Adwords The state government of the Australian province of Queensland will

Zeus.Exchange​ - We Tokenize Stock Markets 25 issue a grant to a crypto startup as part stablecoin called Terra. But while a of over $8.3 million of innovation number of startups have deployed funding, according to an official stablecoins – cryptocurrencies announcement published August 1. engineered to track the price of another According to the government asset, usually fiat currency – Terra statement, the TravelbyBit digital comes with a notable addition: an currency payments platform for the existing user base. travel and tourism industry is one of 70 Created by Korean entrepreneurs companies that will receive Advance Danial Shin, who founded and chairs Queensland Ignite Ideas funding, which TMON, one of the top e-commerce supports entrepreneurs in Queensland websites in South Korea, the Terra in developing their businesses. project is launching with a significant The company’s objective will be number of partners that already reach to boost the number of tourists to 40 million customers. Those partners, Central Queensland through selling who will together form the Terra travel offers with cryptocurrencies and Alliance, a group of e-commerce sites creating more jobs. that are interested in incorporating the stablecoin into their business, include Binance Woowa Brothers, Qoo10, Carousell, Pomelo and TIKI. 1-August-18 – ​In Its First Public Acquisition, Binance Buys Decentralized Trust Wallet Bitmain Major crypto exchange Binance 19-August-18 – ​Bitmain Backs has made its first public acquisition, Blockchain Data Storage Firm Lambda having bought Trust Wallet, according to Bitmain, the world’s largest an announcement July 31. Launched in cryptocurrency mining equipment 2017, U.S.-based Trust Wallet is an producer, has invested an undisclosed open source, anonymous, and sum in the blockchain data storage decentralized wallet that supports startup Lambda. Ethereum (ETH) and over 20,000 According to a press release different Ethereum-based tokens issued on Friday, the funding will (ERC20, ERC223, and ERC721). support Lambda’s further production of While the details of the deal are secure blockchain-based infrastructure not disclosed, Binance told TechCrunch and decentralized applications (DApps). that it paid in a mixture of fiat money, “Bitmain has demonstrated its Binance stocks, and its own BNB token. commitment to expanding strong, DApp Trust Wallet will remain autonomous in blockchain companies such as most of its operations, while Binance will Lambda,” said Lambda CEO Xiaoyang. help with administration and work on marketing development. Blockchain Startups 29-August-18 – ​Binance Backs $32 Million Funding for Unicorn 8-August-18 – ​Blockchain Founder's Crypto Stablecoin Startups Have Raised US$1.8B In VC Yet another stablecoin is Funding So Far This Year attracting big investors. Blockchain companies raised Announced Tuesday, the founder US$1.8 billion through 343 deals during behind a $1.4 billion startup unicorn the first half of 2018, a new record for called TMON is revealing he has raised venture capital (VC) investment in the a $32 million seed round to build a sector that highlights soaring demand

Zeus.Exchange​ - We Tokenize Stock Markets 26 from VC firms, according to a new report million to fund blockchain gaming by blockchain VC firm Outlier Ventures. projects built on the Decentraland The trend has been largely driven platform. To this end, it created the by the surge in VC “mega rounds” of Genesis Content Program, through over US$100 million. These include which gaming developers can submit Bitmain’s US$400 million Series B round proposals for “blockchain games” and in June that valued the company at a “interactive experiences” that can be whooping US$12 billion. Bitmain plans built on Decentraland. to apply for an initial public offering (IPO) in Hong Kong in September. Golden Gate Circle, a mobile payments and cryptocurrency trading company, raised Ventures US$110 million in May at a nearly US$3 10-August-18 – ​Singapore: billion valuation. Circle acquired popular Venture Capital Firm to Launch $10 cryptocurrency trading platform Poloniex Million Crypto, Blockchain Investment in February for reportedly US$400 Fund million. Singapore-based venture capital firm Golden Gate Ventures will launch a $10 million fund for investments in Dfinity startup blockchain and cryptocurrency companies, Reuters reported August 10. 30-August-18 – ​Andreessen Golden Gate Ventures (GGV), Horowitz, Polychain Capital Lead one of the leading venture capital firms Blockchain Startup’s New $105 Million in Southeast Asia, will invest in Funding Round early-stage companies including Swiss and US-based blockchain cryptocurrency exchanges, security cloud computing startup DFINITY has providers, and blockchain tech startups closed a new funding round worth over through the LuneX Ventures fund. $100 million from repeat backers including Andreessen Horowitz, it confirmed August 29. DFINITY, which aims to build Hong Kong what it describes as an “Internet University Computer,” raised a total of $102 million Swiss francs ($105 million) from 14-August-18 – ​Hong Kong partners that also featured University Receives $20 Mln Research blockchain-focused investment outfit Grant for Payment Systems, Blockchain Polychain Capital. The Hong Kong University of Both Polychain and Andreessen Science and Technology Business via its investment fund a16z had School has received a $20 million previously participated in the startup’s research grant to improve the security investment, contributing to a $61 million capabilities of electronic payment round in February. systems, China News reported August 12. The Hong Kong University of Decentraland Science and Technology (HKUST) 12-August-18 – ​Not Playing Business School has reportedly Around: Decentraland to Invest $5 partnered with the University of Hong Million in Blockchain Gaming Startups Kong (HKU), the Chinese University of Decentraland, a decentralized Hong Kong (CUHK), and the City user-owned virtual world on the University of Hong Kong (CityU) to work Ethereum blockchain, plans to invest $5 on the research project.

Zeus.Exchange​ - We Tokenize Stock Markets 27 cryptocurrency ecosystem.” In particular, the firm said it was interested in LINE entrepreneurs and companies that provide and tackle issues such as 15-August-18 – ​Japan’s infrastructure scalability and Messaging Giant LINE Sets Up $10 interoperability, along with practical Million Hong Kong Blockchain Venture solutions to issues like custody and Fund security, and institutional services. Japanese social messaging app LINE announced the creation of a $10 million blockchain venture fund NFL Players Wednesday, August 15, as part of its Association expansion into the cryptocurrency 5-August-18 – ​NFL Players market. Association Invests in Blockchain Launched via Hong Kong-based Startup subsidiary unblock corp., the fund SportsCastr, a live-streaming contains funds from fellow LINE sister platform that allows anyone to become a outfit LVC Corporation. color commentator, announced recently “Additionally, unblock ventures’ that the NFL Players Association token fund is expected to expand in the (NFLPA), via its athlete-driven future, according to the growth of the accelerator the OneTeam Collective, blockchain market,” the company has acquired a minority stake in the commented in a press release, adding: company to power live, interactive video “By launching this new corporate content for fans. Through this token fund, LINE is aiming to boost the partnership, active and former NFL development and adoption of players will use SportsCastr to provide cryptocurrencies and blockchain live commentary across a wide range of technology.” professional and collegiate sports, share personal insights, and more. LuneX Ventures 11-August-18 – ​Singapore VC Unveils New Blockchain, Pantera Capital Cryptocurrency Fund 16-August-18 – ​Pantera Capital LuneX Ventures, a partnership Seeks $175 Million for Third Crypto between Singapore-based venture Venture Fund capital (VC) firm Golden Gate Ventures Crypto hedge fund Pantera and its former head of growth Kenrick Capital is seeking to raise $175 million Drijkoningen, is looking to invest US$10 for its third venture fund, a six-fold million into five to ten blockchain and increase from its previous fund target, cryptocurrency startups by the end of TechCrunch reports August 16. the year, the company said on Friday. For Pantera’s debut fund in 2013, LuneX Ventures claims to be the firm had raised $13 million, rising to Southeast Asia’s first dedicated $25 million for its second. TechCrunch cryptocurrency, blockchain fund with quotes Pantera partner Paul Veradittakit traditional VC backing. The company as noting the new target is a “function of said it will leverage “Golden Gate’s how fast the space is moving, the talent strengths in backing growth companies, coming in, the opportunities, and the gained from applying Silicon Valley sizing of rounds”: expertise across the ASEAN region” and “With more interesting later-stage invest globally in “companies that are investments [on our radar], too, we want building out services to grow the new

Zeus.Exchange​ - We Tokenize Stock Markets 28 to be flexible and able to move with the made a second investment in troubled market.” cryptocurrency exchange LastRoots. SBI, which last month opened its Review.Network own cryptocurrency exchange after gaining regulatory licensing, without 14-August-18 – ​Goldman Sachs disclosing the amount of the investment, Leads $32 Million Funding Round for which follows its initial cash injection in Enterprise Blockchain Startup Axoni December 2017. Enterprise-focused blockchain “We are preparing to strengthen startup Axoni has raised $32 million in a our in-house team to register the virtual funding round led by Goldman Sachs currency exchange business,” the and other high-profile banks and venture company explained in the release about capital investors, Forbes reports August its plans for LastRoots. 14. One of the exchanges singled out The $32 million Series B funding by regulators for improvement following round was led by Goldman Sachs and Coincheck’s $530 million hack in Nyca Partners, with numerous other January this year, LastRoots has had to investors including Wells Fargo, make drastic changes to its business JPMorgan, Citigroup, and Andreessen model in accordance with strict Horowitz. The fresh investment brings regulatory requirements under Japan’s Axoni’s total financing to $55 million to new licensing scheme. date. South Korea SBI Holdings 13-August-18 – ​Blockchain 2-August-18 – ​SBI Invests $9 Among Targets of South Korea’s $4.4 Million in Institutional-Grade Billion Domestic Investment Plans for Cryptocurrency Derivatives Platform 2019 Japanese financial services giant South Korea announced it would SBI Holdings has invested $9 million in “nurture” eight sectors of the domestic U.S. digital marketplace architect Clear economy, including blockchain, by Markets to fund the latter’s creation of a investing 5 trillion won (about $4.4 cryptocurrency derivatives trading billion) next year, local media outlet platform built for institutional investors. Yonhap reports Monday, August 13. Nikkei Asian Review reports that According to the results of a SBI Crypto Investment has obtained a meeting involving the country’s finance 12 percent stake in Clear Markets, ministry, the government opted to which is headquartered in Charlotte, NC increase the amount spent on areas and has branch offices in New York, such as blockchain, big data and London, and Tokyo. Though the terms artificial intelligence (AI) by 65 percent of the deal were not disclosed, the from 2018 estimates. publication states that SBI likely paid 1 “The measures will help facilitate billion yen ($9 million) for its minority the platform economy, which in turn will ownership position in the company. help speed up innovative growth,” the publication quotes the ministry as 20-August-18 – ​Japan: Finance saying. Giant SBI Makes New Investment in LastRoots Crypto Exchange, Will Aid License Acquisition SFOX Japanese financial services giant 16-August-18 – ​Airbnb SBI Holdings announced in a press Co-Founder Participates in Almost $23 release Monday, August 20, that it had

Zeus.Exchange​ - We Tokenize Stock Markets 29 Million Funding Round for Crypto SFOX, with participation from Y Startup Combinator, Khosla Ventures, Digital Cryptocurrency trading platform Currency Group, Blockchain Capital, SFOX has announced the closure of a and Blecharczyk. $22.7 million Series A funding round The press release notes that the with participation from Airbnb co-founder cryptocurrency dealer aims its services Nathan Blecharczyk, according to an at “large-scale investors such as funds, August 16 press release. family offices, and high-net-worth Co-founder and partner at Tribe individuals,” and has more than $9 Capital and Social Capital, Arjun Sethi, billion in transaction volumes to the led the Series A funding round for the present. U.S.-based cryptocurrency dealer

Zeus.Exchange​ - We Tokenize Stock Markets 30 V. Top content (trading & tokenization) Security Tokens 29-Aug-18 – ​Security tokens will be coming soon to an exchange near you (Techcrunch.com) While cryptocurrencies have generated the lion’s share of investment and attention to date, I’m more excited about the potential for another blockchain-based digital asset: security tokens.

21-Aug-18 – ​Security Token 2.0 Protocols: Debt Tokens (Hackernoon.com) Security tokens might become the first type of crypto-asset to bridge the gap between established institutional investors and the crypto world. Part of the magic of security tokens is that, at least conceptually, they can be seen programmable, globally tradeable representations of existing financial products. As the security token space evolves, we are likely to see more crypto-securities that are modeled after established financial vehicles such as bonds, derivatives or stocks. However, for that to happen, the existing generation of security token protocols needs to incorporate some of the underlying mechanics of the basic financial assets.

5-Aug-18 – ​Op-Ed: A Beginner’s Guide to the Economics behind Security Token Offerings (CCN.COM) The problem is not with the vehicle, the problem lies in the gold-rush mentality. When everybody starts mining for gold, the percentage of people who strike gold falls naturally. This is Economics 101.

Tokenization 29-Aug-18 – ​Economics in Cryptoland (IOTA Blog) Two forms of money are familiar: token- and ledger-based. The former consists of coins and bills. Possession of the tokens amounts to their ownership. The history of their possession is irrelevant to their current status. Ideally the tokens are scarce, verifiable, durable, portable, unforgeable, fungible. Usually governments produce them.

21-Aug-18 ​REPORT: Understanding Digital Tokens (Digitalchamber.org) The Chamber of Digital Commerce’s Token Alliance released the first edition of a comprehensive set of guidelines to help shape the responsible growth of the token and initial coin offering (ICO) markets. The report features three parts: Regulatory Overview: A comprehensive understanding of the regulatory environment and securities law as it relates to tokens in the United States, Canada, Australia, the United Kingdom, and Gibraltar. Principles and Guidelines for Utility Tokens: Industry developed principles for token sponsors and trading platforms to promote sound business practices and minimize unintentional regulatory risk. Token Economic Landscape: An in-depth look into the growth and evolution of the global token landscape, with economic data and statistics.

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Сonclusions

Thank you for reading, I hope you enjoyed our review. We will try to publish such reviews regularly on a free basis. We want as many people as possible to learn about the blockchain technology and the new economy of the future in which we are developing today.

Thanks to all the colleagues from Zeus.Exchange project who participated in the preparation of this issue:

Andrew Taranov Viktoriia Shvydenko Olga Duka Catherine Yushina

Resources: https://www.coindesk.com/ https://cointelegraph.com/ https://www.ccn.com/ https://bitcoinmagazine.com/ https://www.newsbtc.com/ https://www.ethnews.com/ http://www.the-blockchain.com/news/ https://coinjournal.net/ https://forklog.com/news/ https://anycoin.news/ https://decenter.org/ https://coinspot.io/ https://cryptorussia.ru/ https://bitnovelty.ru

If you think that you can contribute to our report or you have interesting information for publication - write to: ​[email protected]​. Also we are looking for journalists and energetic people, who are interested in the topic of blockchain, cryptocurrency and investment.

Alexander Tsyhlin, co-founder ​Zeus.Exchange

Zeus.Exchange​ - We Tokenize Stock Markets 32 Legal disclaimer

This report is for informational purposes only and does not constitute an offer or solicitation to sell securities or other investments. It may contain forward-looking statements, subject to risks and uncertainties that could cause actual results to differ materially. Zeus Exchange does not guarantee the accuracy of statements made in (or in connection with) this report or the conclusions reached herein, and expressly disclaims any and all liability for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any statement contained in this report, (ii) any error, omission or inaccuracy in any such statement, and (iii) any other matter connected with or attributable to statements contained in this report.

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