Editor’s Note: Due to the holiday, this week’s letter will be short and sweet. Instead of our normal compilation of must reads, in-depth essays and the latest regulatory action… here’s a condensed run down of what we’ve been reading this week.
On a final note, we hope all of you have a great holiday. Spend time with your family… pour a little extra gravy… and don’t talk crypto or politics!
The CoinSnacks Team
🏛️ The SEC Cracks Down on Two ICOs, Giving Us Another Sign The “ICO Party” Is Over
There was huge news on the ICO/token sale front from the SEC last Friday regarding two initial coin offering (ICO) issuers. Let’s break it down…
- What Happened: On Friday, the SEC slapped two cease-and-desist orders on a pair of ICOs: AirFox & Paragon. They were targeted because neither company had registered their token sales as securities.
- The Significance: The announcement came with a fresh statement (and much needed clarity) from the SEC – the first of its kind since Bill Hinman’s speech saying bitcoin & ether are not securities because they’re “sufficiently decentralized.” Simply put, this is the BIGGEST statement put out by the SEC so far on “digital assets,” “ICOs” and “cryptocurrencies.”
- The Takeaway: A new dawn on the ICO/token sale front has arrived. The SEC seems to have finally laid enough groundwork to start clamping down on the space. The news also suggests that SEC enforcement actions are no longer limited to only bad or egregious actors. Paragon and AirFox weren’t fraudsters, they just weren’t following SEC rules.
- What’s Next: We can expect to see a lot more of these cases. In addition, some experts are saying this officially marks the end of the “ICO Party.”
Visions of Ether
What exactly should Ethereum be?
This post breaks down seven major themes around which Ethereum development has been based.
As Ether is down 83% YTD, it’s worth taking a second and realizing that the project has come a long way. We look forward to seeing where it goes from here.
How I Learned to Stop Checking Crypto Prices and Love the Struggle
2018 has been a challenging year for crypto. A quick look at the markets over the past week is just another painful reminder.
Meltem Demirors explores this market crisis, how to find value in it, and what to expect going into the new year.
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- CoinDesk Crypto-Economics Explorer: Visual tool designed to measure and track interest in crypto assets
- Bitcoin Cash Hard Fork Updates
- Winds of Change: The case for new digital currency
- [PDF] Circle Research: Prediction Markets Report