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Showing posts from December 6, 2023

New Jersey Bill Proposes Classifying All Crypto Tokens Sold to Institutional Investors as Securities

A bill has been introduced in the U.S. state of New Jersey to classify all cryptocurrencies issued and sold directly to institutional investors as securities. In contrast, the U.S. Securities and Exchange Commission (SEC) has previously stated that bitcoin is not a security, but SEC Chairman Gary Gensler views all other crypto tokens as securities. New Jersey Bill 5747 New Jersey Assembly Bill 5747, sponsored by Representative Herbert Conway, was introduced on Nov. 30 in the New Jersey State Assembly to classify all cryptocurrencies issued and sold to institutional investors as securities. According to the text of the bill: This bill classifies all virtual currencies issued and sold to institutional investors as securities. Under the proposed rules, virtual currencies issued and sold directly to institutional investors will be subject to the state’s “Uniform Securities Law” and any regulations promulgated by the Bureau of Securities in the Division of Consumer Affairs to effectu...

Blackrock’s Spot Bitcoin ETF Filing Update Addresses Potential Classification of BTC as a Security by SEC

Blackrock, the world’s largest asset manager, has warned in its latest spot bitcoin exchange-traded fund (ETF) filing update of the potential for bitcoin to be classified as a security by the U.S. Securities and Exchange Commission (SEC), state regulators, or court rulings. “If a digital asset is determined or asserted to be a security, it is likely to become difficult or impossible for the digital asset to be traded, cleared or custodied in the United States through the same channels used by non‑security digital assets,” Blackrock cautioned. Bitcoin’s Potential Security Status Blackrock, the world’s largest asset manager, addressed the possibility of bitcoin being classified as a security in its latest amended application for a spot bitcoin exchange-traded fund (ETF), filed with the U.S. Securities and Exchange Commission (SEC) on Monday. The new filing update details: Any enforcement action by the SEC or a state securities regulator asserting that bitcoin is a security, or a c...

TEAMZ WEB3/AI Summit 2024: Japan’s Tech Spectacle on April 13-14 at Toranomon Hills

PRESS RELEASE. The TEAMZ WEB3 / AI SUMMIT represents an evolution from the TEAMZ WEB3 SUMMIT 2023, previously recognized as one the most significant and influential events in Japan’s Web3 landscape. For 2024, we’re expanding our focus to encompass both the burgeoning realms of Web3 and AI, two domains that have seen explosive growth recently. With our rallying cry, “WEB3 / AI: The Future”, we aim to facilitate vibrant discussions on the trajectory of the Web3 sector post-2024 and the emerging societal and economic paradigms being shaped by AI. Thought leaders, pioneers, and experts in Web 3 and AI, hailing from both Japan and overseas, will offer a kaleidoscope of insights on technological applications, market dynamics, and innovative solutions. Additionally, interactive sessions are planned to deepen the discourse among attendees from diverse industries and nations. This summit anticipates a gathering of over 100 VCs and investors, more than 100 exhibitors, and 120+ esteemed exper...

Elon Musk’s X Secures 12 Money Transmitter Licenses — X.AI to Raise $1 Billion in Equity Offering

Elon Musk’s social media company, X, has obtained 12 money transmitter licenses across the United States. Furthermore, his artificial intelligence (AI) company, X.AI, stated in a filing with the U.S. Securities and Exchange Commission (SEC) its intention to raise $1 billion in an equity offering. X Obtains 12 Money Transmitter Licenses Elon Musk’s social media platform X, formerly Twitter, has reportedly obtained transmitter licenses in 12 U.S. states: Arizona, Georgia, Iowa, Kansas, Maryland, Michigan, Mississippi, Missouri, New Hampshire, Rhode Island, South Dakota, and Wyoming. In October, Musk unveiled his plan to turn X into a powerful financial platform . The Tesla boss stated in November last year that X could offer “an extremely compelling money market account,” debit cards, checks, and loan services. He recently detailed: “When I say payments, I actually mean someone’s entire financial life … If it involves money. It’ll be on our platform. Money or securities or whatever...
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