Tezos Betanet has launched & Regulation has too - TheBit

Get crystal clear crypto news straight to your inbox  

Tezos Betanet has launched & Regulation has too

Tezos Betanet has kinda launched


The Bit

One year ago, Tezos ICO raised $232 million, but since has only been in headlines for investor complaints and SEC fines.


The Bigger Picture

$232 Million still ranks as the second largest ICO of all time. Tezos Co-Founder, Arthur Breitman, developed the ICO while he was still working for Morgan Stanley (which ended up in a $20,000 fine for breaching his contract by not disclosing his “other business practices”). Early on, Tezos got flack for delaying the release of ICO tokens. Investors were upset because the delay cost the tokens to lose significant value. The network itself has seen a similar delay, but here we are one year later, and there’s SOME positive news! The Betanet has launched… which means it still could be months before the Tezos network is fully operational.


Coinbase is your new bank


The Bit

Coinbase will likely soon be a licensed broker-dealer and has acquired securities dealer Keystone Capital Corp, Digital Wealth LLC and Venovate Marketplace, Inc.


The Bigger Picture

Let’s be real, they’re doing everything right in order to build relationships with governing bodies and attain proper licensing by buying out existing financial companies to establish alternative trading system license (ATS). In the future Coinbase will be able to create fully legal crypto-assets of all kinds, i.e. “tokenization” of securities, real estate or collectables. Forget investing in crypto, Coinbase…you taken investors?


Serious crypto-regulation out of Abu Dhabi


The Bit

It’s happening: Regulators out of the second most populous capital of the United Arab Emirates developed a 34 page guideline to cryptocurrencies.


The Bigger Picture

The Abu Dhabi Global Market (ADGM) is an international financial center that works to develop economic diversification innovation and sustainable initiatives. They held a public consultation on cryptocurrencies in May that became the basis for a “framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM.” The important thing here is that extensive cryptocurrency regulation like this is all so new. Cryptocurrencies are a unique creation, that don’t quite fit into the existing rule books. Frameworks like this give other governing bodies something to work off of. They also released a separate guide to ICOs back in October of 2017.


“But with Tezos we don’t just have this governance layer, we also have a way of pushing the upgrades out to everyone, it’s one and the same, making it a very powerful mechanism. Whereas bitcoin and Ethereum still have manual processes for updating their chain.” – Kathleen Breitman

For more great content  Share