Former CFTC chairman says underlying crypto cash market is ‘a mess’

Jeff Bergstrom

Jeff Bergstrom


Former CFTC chairman says underlying crypto cash market is ‘a mess’; Gary Gensler urges US financial authorities to decide which regulator should regulate crypto markets.
Hayley McDowell – The Trade Crypto
The former chairman of the top US derivatives watchdog has urged Congress to establish who should regulate the cryptocurrency cash market which underlines securities and derivatives.

Mastercard Wins Patent for Speeding Up Crypto Payments
Christine Kim – Coindesk
Mastercard won a U.S. patent on Tuesday for a method of speeding up cryptocurrency payments.
The document, published July 17 by the U.S. Patent and Trademark Office (USPTO), explains that though cryptocurrencies have “seen increased usage over traditional fiat currencies by consumers who value anonymity and security,” the wide disparity in payment processing times between the two classes of assets puts cryptocurrencies at a “disadvantage.”
“There is a need to improve on the storage and processing of transactions that utilize blockchain currencies,” the patent claims.

Barry Silbert says bitcoin put in its 2018 low, but 99% of cryptos are worthless
Ryan Vlastelica – MarketWatch
Barry Silbert, the chief executive officer of the Digital Currency Group, on Wednesday said that while he was extremely optimistic about the long-term prospects of bitcoin, as well as the broader cryptocurrency industry, a huge amount of new entrants seemed headed for zero.

The ICO whose team members are literally cartoon characters
Jemima Kelly – FT
Remember Kevin Belanger, the ICO graphic designer with a clear focus on identities and illustration, who bore an uncanny resemblance to Ryan Gosling?

Customer Advisory: Use Caution When Buying Digital Coins or
The Commodity Futures Trading Commission (CFTC) is alerting customers to exercise caution and conduct extensive research before purchasing digital coins or tokens, including those self-described as “utility coins” or “consumption coins.” Understand what rights are attached to the coin or token being sold, and what underlying factors could affect its value. Be especially wary of promises or guarantees of future value.

GMEX Named As One Of The Leading Financial Services Technology Companies In UK Blockchain Economy – Hirander Misra, Chairman And CEO Named Key Business Influencer
GMEX Group (GMEX), a provider of innovative exchange, post-trade and digital technology solutions, is pleased to have been identified as one of the leaders in the implementation of blockchain technology in the Financial Services industry in a first-of-its-kind, report on the state of the Blockchain Industry in the United Kingdom. The report was launched at a Reception in London at the Houses of Parliament on Monday 16 July.

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