The Blockchain Brief. The week in five headlines 9785

The blockchain Brief

Bitcoin Cash sees big gains ahead of fork

Cryptocurrency news are never dull. Bitcoin Cash, the coin that forked out of Bitcoin a little over a year ago, is preparing for a fork of its own on November 15. As usual, the dissensions started over some technical upgrades – smart contracts and such – that a larger faction was in favor of. Craig Wright is against the upgrades; Jihan Wu, of Bitmain, is all for it. All major exchanges seem poised to take on the hard fork derivate. Right now, it looks to be a good market for the cryptocurrency, with 37% gains over the past week.

EtherDelta founder charged with operating unregistered exchange

Zachary Coburn, founder of decentralized Ethereum exchange EtherDelta, championed by many as the most successful DEX, was charged by the SEC with operating an unregistered exchange. In a move that indicates tighter oversight of digital markets, the US Securities and Exchange Commission claimed that EtherDelta acted as a securities exchange and should have registered with the SEC as such. So far, Coburn has declined to comment on the charges, but has agreed to pay almost $400,000 in disgorgement, penalties and interest.

Blockchain wallet users to get $125M worth of XLM in airdrop

What might just be the largest crypto giveaway ever is in the works as we write this. Cryptocurrency wallet provider Blockchain is trying to raise awareness and get more people to use crypto by airdropping $125 million in Stellar Lumens (XLM), in several drops, to any Blockchain users who sign up for the giveaway. While it sounds like a bold idea and sure to make cryptocurrency news headlines, the SEC is probably going to look closely at airdrops from now on. It has already said that, even if free, airdropped tokens might still constitute securities.

Cryptocurrency about to make an entrance at OPEC

Venezuela is giving its cryptocurrency, Petro, every chance it possibly can, and potentially moving the crypto markets ahead along with it. Despite unclear performance, the petro is set to make waves early next year, when it will be spearheaded as a unit of account for crude oil. What the Organization of the Petroleum Exporting Countries will make of it is unclear, especially as many of these countries (Iraq, Kuwait, Saudi Arabia, United Arab Emirates etc.) are not exactly cryptocurrency-friendly.

Two pro-crypto governors emerge out of US elections

Cryptocurrency news were ecstatic this week with confirmation of two pro-crypto governors emerging victorious out of the US race. Democrat Gavin Newsom, the current lieutenant governor to Jerry Brown, has surged ahead of Trump-backed Republican John Cox. Newsom had the support of the crypto community, most notably the Winklevoss twins, and accepted crypto donations for his campaign. The same applies to Democrat Jared Polis, who won the Colorado governorship ahead of Republican Walker Stapleton. Polis has a detailed blockchain policy and seems prepared to take this area very seriously.

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