US SEC Suspends Trading Of Two ‘Exchange-Traded Funds’

Virtual currencies, including Ether and Bitcoin, are used to facilitate the transfer of money in any part of the world conveniently, and with relative anonymity, whether there is central authority supervision or not. However, trading of these financial instruments must always be done in accordance with the law, and failure to do so attracts penalties including both permanent and temporary suspensions. Bitcoin Tracker One and Ether Tracker One traders are the latest to face the wrath of the law as the two have been temporarily suspended by the US Securities and Exchange Commission (SEC). The two are investment products that track cryptocurrencies that are issued by Coinshare’s subsidiary company, XBT Provider, AB.
According to the order, this move was attributed by lack of consistent, accurate and updated information about Bitcoin Tracker One and Ether Tracker One, which confused market participants. The body went on to state that the suspension decision was solely made to protect the public interest and that it was in accordance to the “protection of investors” mandate.
The suspension order was reportedly issued on 9th September 5:30 pm EDT and will last on 20th September 11:59 pm, unless the agency finds other reasons to extend the suspension. The order is pursuant to Section 12(k) of the Securities Exchange Act, 1934 (Exchange Act).
Temporary Suspension
The official order states that SEC found out that inconsistent language was used to describe the two financial products making it hard for customers to understand.
For instance, the broker-dealer application materials submitted to allow the trading of Ether Track One (CETHF) and Bitcoin Tracker One (CXBTF) in the United States and their websites indicate that they are ‘exchange-traded funds’. Other public sources and websites characterize them as ‘exchange-traded funds (ETFs).’ This also contradicts the issuer’s information which characterizes them as non-equity linked certificates.
SEC defines ETFs as licensed companies that provide investment opportunities inform of bonds, stocks, and other assets, and give the investors some funds in return. However, the agency pointed out that “unlike the ETFs, public sources characterize them as Exchange Traded Notes (ETNs).” This would mislead investors since unlike the ETFs; the notes are unsecured debt obligations and traded on the securities exchange.
The SEC described:
The payment terms for ETFs are directly linked to the performance of the benchmark or reference index, which represents the investment objective of the ETN,”
The two financial instruments CETHF and CXBTF were initially listed and regulated by the Sweden financial market. They were introduced to the market by the Nasdaq Stockholm Exchange back in 2015 before they were officially launched in the US market.

No public word has so far been heard from the team behind the financial products. Other than Ether Tracker One and Bitcoin Tracker One, the firm has two more financial products: Ether Tracker Euro and Bitcoin Tracker Euro.
Early this year, the body ordered a temporary suspension for IBITX Software Inc, a New York-based corporation. The commission announced that the decision was attributed by “questions in regards to the IBXS accuracy assertions, a corporation which was listed by the Philippines principal place, though it was based in New York City.
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EOS/USD Price Analysis: Trends of September 10 – 16, 2018

Key Highlights
Formation of “tweezers bottom” candles confirmed on the daily chart;
The price might go up this week;
A retest of the support level of $4.1 is possible.
EOS/USD Long-term Trend: Bearish
Resistance levels: $6.8, $9.4, $11.4
Support levels: $4.1, $2.0, $0.5

EOS/USD made an attempt to push higher last week above the resistance level of $6.8 but closed lower towards the support level of $4.1 with the formation of a strong bearish candle. More pressure from the seller pushed the price downward and was unable to break the nearest support level of $4.1. The price has kept ranging within the resistance level of $6.8 and support level of $4.1 on the daily charts for more than three weeks. If bears hold on the current price range, the current market situation will persist. Last week was bearish. As at present the price formed “tweezers bottom” candle which connotes the possibility of the price increase this week
The Stochastic Oscillator Period 14 on the daily chart is at oversold, below the level 20, with its signal lines pointing upwards, which indicates the probability of a bullish movement this week should the support level of $4.1 holds.
EOS/USD Price Medium-term Trend: Bearish

The coin is bearish on the medium-term outlook. The price has been moving downward with the formation of more bearish candles, which indicates that bears were in control of the price last week. Looking at the support and resistance levels, the price is currently hovering within the boundaries of the resistance level at $6.8 and the support level at $4.1. It would take a strong directional movement for the price to leave the boundaries. As the current position of the Stochastic oscillator suggests a temporal rise in momentum.
The 10-day EMA has crossed the 50-day EMA downward with the price below the 10-day EMA, confirming the downtrend. Should EOS price go up to the resistance level at $6.8 and produce a bullish pattern, then upward movement could be anticipated. A retest of the support level of $4.1 is possible.
Disclaimer: The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research. The charts for the analysis are provided by TradingView
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Dash Price Analysis: DASH/USD Holds Its Ground with New Developments

Dash recently busted through a descending trend line to show that a reversal from the downtrend is underway. Price even completed its retest of the broken resistance and is setting its sights higher.

The 100 SMA also recently crossed above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the uptrend is likely to gain traction from here. These moving averages also held as dynamic support on the latest pullback.
Applying the Fibonacci extension tool on this move shows that price is already testing the 50% extension and might be on its way up to the next upside target at the 61.8% level. This lines up with the swing high so there may be some profit-taking orders right there. Stronger bullish momentum could take it up to the 78.6% level at $231 or the full extension at $251.
RSI is on the move up to show that bullish pressure is present, but the oscillator is approaching overbought levels to signal potential exhaustion. Turning back down could bring sellers in and lead to another dip. Similarly, stochastic is closing in on overbought territory and might usher in a return in selling pressure.

However, it’s also worth noting that Dash has been able to hold its ground quite well against rival altcoins. One reason behind this is its recent partnership with KRIP in providing an alternative means for facilitating transactions in the Latin American region. Keep in mind that economic crises in Venezuela and Argentina are likely driving up demand for these types of assets.
Another factor is the partnership between fantasy sports giant FanDuel and Dash. This would allow the cryptocurrency to be used as its official cryptocurrency in the Crypto Cup, which will consist of 18 free play contests running from September 9th to December 30th, followed by the free play final on January 6th.

Images courtesy of TradingView.
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How the Internet of Things (IoT) Industry Will Look Like in 2018-2023

IoT is one of the spheres that is actively developing nowadays, being widely integrated with a number of other industries. A new report on “2018-2023 IoT Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast” that has been recently published offers a fresh overview on how the industry will look like in the next 5 years.
It is expected that the world’s IoT market will grow further due to a wide range of important factors. Among the most significant factors that positively influence the industry’s development we should name rise in popularity and adoption of cloud platforms, technological progress, tendency to miniaturization and many others.
Achievements in data analytics, computing economics and interest from the side of other industries including manufacturing, automotive, energy also have their impact on the growth of the global IoT market.
All these factors will lead to a significant growth of the number of devices connected via Internet of Things. Today, a lot of new smart devices have already managed to become standard tools for companies and individuals in their daily activities. Given this fact, it us predicted that by 2020 nearly 50 billion connected devices will exist in the world.
Smart connected devices bring a lot of benefits for businesses. Using these tools, it has become possible to increase client’s engagement, enhance visibility and facilitate communications.
IoT is currently centralized which is one of the main reasons resulting in the vulnerability of IoT networks. Due to the fact that billions of devices are already connected in the network and even more are to be added in the future, IoT is an appealing piece of cake for cyber attacks. As a result, security issues are becoming extremely important.
It is believed that blockchain may bring a lot of benefits to this sphere. It is public, decentralized and secure – that’s exactly what is needed by IoT. There are good chances that in the upcoming years, developers and producers will fully realize the benefits that blockchain can add to their products and will be actively working on implementing of this technology to all devices.
It is also said that the global IoT market will closely interact with AI sector. AI will be integrated with IoT data analysis in a number of areas including: data preparation and discovery, time series accuracy of data, predictive and advance analytics, visualization of streaming data, as getting logistical data in real time.
In the context of active IoT market growth, the demand for IoT professionals is rising as well. Universities can’t prepare a necessary number of specialists, that’s why companies are trying to keep up with demand offering their staff internal training programs.
Speaking about the largest IoT markets in the world,  we should mention that the first place is taken by  North America that is followed by Europe and Asia Pacific. Nevertheless, it is predicted that Asia Pacific will be the fastest growing market while North America will take the second position in this category.
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‘Bitcoin Fell Because of Weak Infrastructure,’ Says Distributed Global Partner

Bitcoin, number one digital currency, is currently suffering drops in price. Jonathan Cheesman, a partner at investment firm Distributed Global, has provided an explanation for Bitcoin decline. According to Jonathan Cheesman, macro trend, speculative dominance, regulatory uncertainty, short selling, and scams are the reasons why Bitcoin has fallen.
Cheesman explained that regulation and infrastructure of the digital currencies as a valid asset class are improving, that’s why more and more investors recognize cryptocurrencies as secure and legitimate stores of value. He said:
“For some, things are even more acute now — Venezuela and Turkey being the most obvious examples — and debt sustainability is a real risk to many fiat currencies. In looking for global stores of value gold has served a purpose, but it is archaic. A digital store of value is both more practical and more in touch with the growing millennial generation.”
Cheeseman explained that until 2018, there was no infrastructure targeted at institutional investors and large-scale retail traders. Moreover, there was a lack of publicly tradable instruments that could facilitate the demand for cryptocurrencies from accredited investors. That’s why large sums of capital were prevented from flowing the broader financial market to the cryptocurrency sector.
This year, the world has seen a bubble in the crypto-market, similar to ones in 2012 and 2016. Ongoing corrections in those bubbles were set-off by panic of investors and speculators in the markets. About 80% of the correction followed the previous pattern, but the recovery will differ from the past.
Earlier, Bitcoin had failed to secure momentum at major support levels and demonstrated no signs of recovery for over two years. This year, Bitcoin has made three attempts to lash out from the $6,000 shell, and through the tumultuous rise and fall, there has not been a drop below the support level of $6,000.
Currently, the crypto market is experiencing a crypto-inclusion trend. The regulatory framework and the infrastructure which are focused on custodianship are quite positive. They will encourage more institutions to embrace the crypto-market despite being a fledgling. Cheesman concluded:
“Regulators across the globe have struggled with how to responsibly police crypto. A decentralised movement poses a lot of complications in classifying the assets and bad actors muddy the water. As a result, things have been moving fairly gradually, but overall regulators have taken a tone that shows they respect the potential innovation. The regulatory uncertainty has, in turn, slowed institutional investors, as have the lack of custody, insurance, data and risk management solutions.”
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The World’s biggest blockchain summit series is coming back to Dubai this October

More than 1000 delegates were in attendance at the 2017 Dubai edition, which gathered key international blockchain experts, government policy makers, and also witnessed a presentation on Dubai’s Blockchain Strategy.
Monday, 10 September 2018, Dubai: World Blockchain Summit has been on a world tour since last year, covering cities like Nairobi, Moscow, Frankfurt and Singapore on its way, and will touch down in the Emirates this October. The event is taking place on 24 – 25 October 2018, at the Jumeirah Emirates Towers in Dubai.
The summit is notably one of the first blockchain conclaves, since the recent blockchain boom, which started its global tour last year and is now set to travel to 15+ destinations all over the world. The event is particularly known to attract key government policy makers, enterprises, technology providers and blockchain enthusiasts from all over.
Ledger based services and startups have accumulated more than US$ 500 Million in funding globally, and this edition of the summit will put into perspective the diverse private and public sector adoption processes as well as the digitization of assets for business operations.
Another topic which has raised questions across the World is the ‘Need for Regulatory Commissions and Charter Laws’ for the wide scale adoption of ledger based technologies. As some governments remain either tight-lipped or mute around the subject, representatives from vocal governments will be taking part in an exclusive ‘All Government’ panel at the World Blockchain Summit Dubai. The panel will feature Mr Jason Hsu (Congressman from the Legislative Yuan Taiwan), Mr Bitange Ndemo (Chairman for the AI & Blockchain Task Force of Kenya), Mr Oleksii Mushak (Member of Parliament for Ukraine), Mr Gilbert Reveillon (President of ICT & Digital Economy, CNCCEF France), Mr Vit Jedlicka (President, Free Republic of Liberland) and Dr Ian Gauci (Partner at the Afilexion Alliance for Malta). The panel will discuss the regulatory landscape for nations, as well as talk about the ‘Future of Blockchain in Governance’.
Pitch competitions
The summit also hosts one of the world’s biggest ICO presentation platforms, the ‘ICO Grand Slam’, which is a dedicated platform for verified ICOs to pitch their idea in front of renowned investors and hedge funds. This will be taking place on Day 1 (24th of October, 2018) of the summit. ICOs stand a chance to raise up to US$ 1 Million in funding, as well as experience the global market first-hand!
Regional qualifiers of the ‘Startup World Cup’ will also take place at the summit, held in association with Fenox Venture Capital. The regional winner will win an all-expenses paid trip to San Francisco to compete at the finals of the ‘Startup World Cup’, and possibly walk away with an US$ 1 Million grand prize.
Mohammed Saleem, CEO of Trescon, has stated that “Dubai has always been a hub for technological innovations. It definitely surprised us, when we had a stellar outcome for the first summit in 2017. We now know that we cannot expect anything less from the ‘City of Gold’, and are now committed to turning Dubai into the blockchain capital of the world”.
About Trescon:
Trescon is specialised in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.
For further details about the announcement, please contact [email protected]
Here are you can find more Crypto and Blockchain events.
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Australia’s NSW Tests Storing Driver’s License over Blockchain Tech

With the development of blockchain technology, more and more common things of everyday use are becoming digital. As it has recently been announced, the government of the New South Wales (NSW) in Australia will soon conduct a trial of digital driving liscenses.
The trial is set on November, 2018, when over 140,000 license holders in Sydney’s Eastern suburbs will get an opportunity to replace a traditional physical plastic card on a modern digital version of it, available via the Service NSW app.
The trial follows the last year attempt to digitize driving liscenses in Dubbo, when the participants got a chance to use their digital driver licence for proof of identity and proof of age to enter pubs and clubs, as well as to provide it for roadside police checks.
This year, the project will be powered by blockchain-based platform TrustGrid, the product of Australian data security company Secure Logic. The platform had been used to underpin the digital driver licence, enabling the state-wide roll-out of the digital identification play, with its tech used in both the Dubbo and the upcoming Eastern Beaches trials.
According to the company’s CEO Santosh Devaraj, digital driving liscenses are the tip of the iceberg, as he believes that modern technology will soon fundamentally change the way people interact with government:
“The era of standing in line to file government paperwork is coming to an end, as is our reliance on physical identification cards to establish your identity or proof of age with law enforcement or at licensed venues. These are mistake prone, time-consuming, expensive, and impractical ways to offer services.”
Being an advanced blockchain solution, which provides a secure, decentralised, and immutable ledger of transactions, the TrustGrid platform has a great potential to create new ways of storing private information, such as motor registration, birth and death certificates, medical records, property titles, as well as HSC, TAFE, and other academic results.
Devaraj commented:
“While it’s positive to see government pursue a platform that has the potential to save lives, people are right to be concerned about how their sensitive data is stored and could be exploited by hackers. Rather than a black and white method of opting ‘in or out’, TrustGrid could enable each individual to set the terms of their own digitised contract that governs exactly what personal information is disclosed through fine-grained consent and encryption policies.”
Australia is not the only example to implement these changes, it is becoming more and more common among the governments all over the world. In India, degree certificates are going to be issued on the blockchain, as well as birth certificates are being tested over the blockchain network. China continues working on powering their smart cities with the help of blockchain technology. Not so long ago, West African nation of Sierra Leone even held their Presidential elections over a blockchain network.
As the power of blockchain tecnology is becoming stronger and stronger, the number of traditional things turning digital continues to grow in progression.
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Bitcoin Price Analysis: BTC/USD Approaching Key Support Again

Bitcoin price was once again rejected on a test of resistance, so it’s now making its way back down to support at $5,800. This might also complete the descending triangle forming on the 4-hour chart.

Support might hold since bulls have been strongly defending this level for the past few months. However, the formation of lower highs is a bit worrisome for buyers. Still, the 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to break.
Also, RSI is turning higher after reaching oversold conditions, signaling that buyers are taking over while sellers take a break. Stochastic is also on the move up to indicate the presence of bullish momentum.
If support holds, Bitcoin could revisit the triangle resistance or even attempt to break higher. A move below support, on the other hand, could spur a selloff that’s the same height as the chart pattern, which spans $5,800 to around $10,000.

Reports that the SEC has decided to suspend the trading of the Bitcoin Tracker One and Ether Tracker One exchange-traded notes issued by XBT Provider AB weighed on sentiment early in the week as this does not bode well for future announcements.
In particular, traders are wary that the regulator would likely reject the remaining Bitcoin ETF applications and might cite the same reasons as this suspension. Their official order stated that the “lack of current, consistent and accurate information concerning Bitcoin Tracker One” led to “confusion amongst market participants regarding these financial instruments.”
Furthermore, the notice reiterated:
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above quoted company.
Keep in mind that many are hopeful an approval of Bitcoin ETFs could launch the much-anticipated rebound for the cryptocurrency price this year.

Images courtesy of TradingView.
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Ethereum Creator Vitalik Buterin Says Crypto Growth Ceiling Is Near

While a lot of experts are arguing about potential ways of development of the crypto market, trying to forecasts the coins’ prices, some of them believe that the best days for cryptocurrencies have already gone.
Giving an interview at the Ethereum Industry Summit conference in Hong Kong, Vitalik Buterin, co-founder of Ethereum, said:
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”
According to Buterin, last year, people’s awareness on cryptocurrencies and blockchain technology was growing rapidly and achieved its highest level in December, while major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash were traded for their record prices and showed 10 to 300-fold returns.
Ethereum co-founder said that the development of the cryptocurrency market during its first six or seven years of existence was greatly attributed to the efforts of the blockchain community to achieve wider adoption. But now the issue of adoption has ceased to be a priority.
It is believed that, in the upcoming years, the industry will implement another strategy that won’t be focused on promotion and attracting new participants to the market. This new strategy will be aimed at enhancing the usability and facilitating the access to decentralized systems. Buterin believes that for the community real applications of real economic activity will be much more valuable than just interested people.
Though Buterin’s opinion is highly appreciated in the crypto community, some other experts have an opposite opinion. As for example, Jehan Chu who is a managing partner at Kenetic Capital, blockchain investment and advisory company, stated that there is still a chance for cryptocurrencies to grow. According to him, “there are deep reservoirs of value just waiting for the right trigger”.
As for ETH, it has lost over 85% from January when it was traded for its highest price in the current year. At the press time, it is traded for $197.34 as it is informed by CoinMarkerCap. ETH is widely applied for carrying out transactions on dApps that are built on the Ethereum network.
Despite their leading positions even such major cryptocurrencies as BTC and ETH are significantly influenced by various external factors. For example, these cryptos experienced another wave of decline after the news that Goldman Sachs Group Inc. is going to postpone its plans to launch a crypto trading desk.
Commenting these changes in prices, Buterin stated that he is not certain about his opinion about institutional trading of cryptocurrencies. “Ultimately if all that cryptocurrency is, is this thing that millionaires keep buying and selling to each other, then what have we really accomplished?”, he said.
It is predicted that ETH may loss even more and fall down to the level of $155. Nevertheless, its current price still reflects a 2,000% advance if compared with the sum that it was traded for in the end of 2016.
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A Colourful Delight of Art Takes over Blockchain Conference

Nowadays everyone can enjoy the excellent works of art not only at various exhibitions and in museums, and the upcoming Crypto G20 analogue is proof of that. The conference will raise art to a new level, making it extremely technological and futuristic: an auction of paintings will be held within the Futurama Blockchain Innovators Summit. One of the brightest authors of such paintings is Nanu Berks,  who has created a new spin of Art called decentralArt.
Nanu will showcase her popular crypto based Art in an Auction in the Futurama event and will speak on stage talking about her Blockchain Art Movement Initiative. Like the rest of us, she believes in the decentralisation of power and redistribution of wealth and resources.
With Blockchain technology helping in the freedom of expression, compassion, innovation and technological advancements, there is more to look forward to in the industry. She will explore the endless opportunity that Art has in connection with Blockchain, and the spirituality that lies beneath.

Nanu Berks:
“Art is the soul language of all movements. I’m here to decentralArt.”
Every artwork that will be presented within the summit tells a story of blockchain and cryptocurrency. Whether it is Blockchain’s emergence, or the adaptation of Bitcoin they all personify the future of technology.
The painting above called the FMBB (“The Feminine Male Side of the Blockchain Balance”) Piece has travelled the world creating conversations among different languages. It is composed of recycled materials from wood that was found to spray paints leftover in the city of Austin.
The painting has been featured in New York City’s during the Blockchain week 2018 and in Los Angeles for the LA Dreams Expo. If you turn the painting to the other side, it reflects another spectacular art piece.
The two sided art piece will be auctioned at Futurama Blockchain Event, with 60% of the proceedings being donated to reforestation or wildlife efforts. Nanu gives a chance of sneak peeking into the painting, so that people can take photos of it before it is bought by the respective art lover.
Attendees of the conference will also partake in Tech savvy paintings, by free flowing onto a light background. Once the art is creatively designed it is turned to t-shirts and cards which the attendees can take back as a memory similar to Blockchain’s recollection of data thanks to transparency.
Besides art speakers, around 300 decision makers, among who are Brock Pierce, founders of Exchanges (EXMO, Golix, BitInka, Bithumb, Coinsbank), investors, such as Roger Ver, and expert cryptocurrency legal counsellors, are expected to take the opportunity to network, analyze and debate the latest blockchain and cryptocurrency industry trends.
For this retreat the agenda will emphasize on the cyber-security of the crypto exchanges and the hacking in the industry’s assets, the process of ICO listing, while featuring regulatory authorities willing to attract crypto-capital and framework for the operations of crypto exchanges.
Most popular personalities in Blockchain and Cryptocurrency will colour Futurama Blockchain Summit in a way never imagined. They will take you on an adventure with insights into the different social experiments carried out. From a mix of crypto and colour which is a spiritual feeling by itself to debates and insights into the next wave of Blockchain events and Cryptocurrency revolution.
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