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The Reserve Bank of Australia believes a “digital Australian dollar” would be an unnecessary disruption to the existing financial system, particularly for retail use. The bank cites research by accounting firm Ernst & Young that also found a CBDC would be the least effective solution for promoting growth in the Australian fintech sector.
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The key message from the SEC is that “SAFT” ICO contracts were always nonsense — you can’t transmute a security into a non-security by using magic words, and especially not when the investment opportunity in question was a detailed plan to dump securities on retail without doing things properly.
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Hot on the heels of the ill-fated Bananacoin (remember that?) comes another token linked to the price of a foodstuff. Yesterday, the crypto world was rocked by the announcement of an Initial Sardine Coin Offering. Specifically, a Vintage 2020 Sardine Coin, known as SARD2020.
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At least two entities invoiced Telegram for commissions from selling the company’s tokens in the summer of 2018, months after the company’s initial coin offering (ICO), newly released documents show.
Kiffmeister’s Fintech Daily Digest 01/11/2020
