Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.

Top Stories This Week

Crypto Exchange Coinbase Retracts Announcement Of Getting Regulatory Approval

Major U.S. crypto exchange and wallet Coinbase has retracted their previous announcement that they had secured approval from U.S. regulators to list digital tokens considered to be securities. According to comments sent to Bloomberg, not only were the SEC and FINRA not involved in Coinbase’s purchase of Keystone —an acquisition intended to make Coinbase into a broker dealer —  the SEC’s approval is “not required” anyway.

Stellar Blockchain “First” To Be Declared Sharia Certified For Money Transfers

Open source distributed payment platform Stella has reportedly become the first distributed ledger protocol to receive a Sharia compliance certification in the money transfer and asset tokenization fiend. With the Sharia certification, issued by the Central Bank of Bahrain-licensed Shariyah Review Bureau, Stellar will be able to operate in regions where financial services must comply with Islamic financing principles.

Top Swiss Exchange SIX Group “Open” To Adding Cryptocurrency Trading

The parent company of Switzerland’s principal stock exchange, SIX Group, said this week that it would be open to offering crypto trading services on its digital trading platform. Speaking about the possibility of a crypto trading addition, a SIX Group spokesperson said that there is a “real need” for establishing “transparency and accountability in the crypto-world.” SIX’s digital trading platform, set to be launched by mid-2019, will offer services like ICO consulting for those not classified as securities.

US Legislature Holds Two Cryptocurrency Related Hearings, One Positive, One Negative

The U.S. Congressional Subcommittee on Monetary Policy and Trade spoke about digital currencies this week in the context of both their domestic and global implementations, also exploring whether central banks should introduce their own digital currencies. Congressman Brad Sherman took an especially aggressive stance, stating that he thinks U.S. citizens should be banned outright from buying or mining cryptocurrencies. In a different House hearing, the main takeaway was that digital assets can shift their regulatory status at different stages. One legislator also noting that “Bitcoin is law enforcement’s best friend,” as it can be used for tracking illicit purchases on the blockchain.

Coinbase Creates Its Own Political Action Committee

San Francisco-based cryptocurrency exchange and wallet Coinbase has created its own political action committee (PAC), according to documents released this week. In the U.S., PACs operate by pooling campaign contributions from members with similar political goals, which they then donate to corresponding political campaigns. Coinbase’s move to form their own PAC could allow them to direct donations to politicians and campaigns that have a friendly stance to crypto and blockchain regulation. As of June 30, Coinbase has not raised any money through the PAC.

Most Memorable Quotations

 

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