A follow up compilation to the Updates on Legal Policy and Regulatory Framework for Cryptocurrency and Digital Payment, within 24 hours after it was published.
Research Suggests STOs Are Better at Financing Startups than ICOs
A security token is a digital representation of an investment product, recorded on a distributed ledger, subject to regulation under securities laws.
STOs can be issued both early in the lifetime of a firm as equity tokens or later as fund tokens. Researchers found that corporate governance is another factor for success.
South Korea Might Soon be Spending Billions on Blockchain Development
The South Korean government plans to invest over $48.2 billion in Blockchain and other Industry 4.0 technologies by 2025. The nation’s goal is to promote the digitization of all industries in the coming post-pandemic era.
“The fourth industrial revolution and digital civilization are the future of humanity that has already begun… It is possible to jump from the older economy to the leading economy…Our society has already entered the face-to-face digitization, and the society where data is competitive, AI and the network have become the food of the future.” ~ President Moon Jae-in, Korea
Japanese Banking Giant to Issue Its Own Stablecoin in Late 2020
Mitsubishi UFJ Financial Group, or MUFGt, the fifth largest bank in the world, is reportedly planning to issue its own digital currency in the second half of 2020.
Initiated back in 2015, the digital currency project was originally designed to run on a blockchain network and facilitate instant peer-to-peer transactions. Following multiple delays, the initiative is now scheduled to be rolled out no later than 2020.
MUFG is the largest financial company in Japan. It was prospectively set to become the first Japanese bank to issue a digital currency. In September 2019, MUFG participated in a $14 million investment round for Coinbase-backed token issuance protocol, Securitize, alongside Banco Santander and Nomura Holdings.
PayPal Letter Seems to Confirm Crypto Capability Rumors
Since the project’s inception, PayPal has taken unilateral and tangible steps to further develop its capabilities in this area, and therefore — without questioning the value of the project — took the decision not to participate in the Libra Association and to continue to focus on advancing our existing mission and business priorities to democratize access to financial service.
… the payments giant admitted to “continuously monitoring and evaluating global developments in the crypto and blockchain/distributed ledger space,” stressing that it favors a “harmonized” regulatory approach that wouldn’t compromise innovation.