Success is not a straight line, it’s much more of a dance and being open to possibilities.
—Arianna Huffington
| The end of an era |
The U.S. Securities and Exchange Commission has declared that the sale of digital coins are subject to the country’s securities laws.
What led SEC to issue that ruling?
The commission has been investigating the tokens offered and sold by The DAO, the ethereum project that lost close to $60 million worth of ether in an attack that took advantage of a code issue. The SEC said that the “DAO tokens” are considered securities, and therefore, fall under the federal securities laws. Also, the commission said that DAO did not meet the requirements of the Regulation Crowdfunding exemption.
Despite DAO’s lapses, the SEC was not irked.
The agency said that it has no plans of pursuing any charges. However, it noted that its findings were meant “to caution the industry and market participants” about engaging in virtual transactions.
What is the implication of SEC’s findings?
The SEC’s announcement could bring an end to the altcoin era. Altcoins, for those who may have been living under a rock, are the alternative cryptocurrencies which were launched after the success of Bitcoin. Etherium is an example of an altcoin.
This means that the only strong cryptocurrency left is the bitcoin.
The SEC ruling proves that bitcoin has a leg up compared to other cryptocurrency. Bitcoin is set to evolve to unlimited on-chain scaling and low transaction fees should Bitcoin Unlimited push through.
Takeaway
The agency’s ruling has affirmed the crucial role that bitcoin will have in the future of online gambling.
| GLOBAL ROUND UP |
| ASIA |
Casino operator Las Vegas Sands saw its revenue increase by $3b in the second quarter of 2017, due to the rise in revenue in its Marina Bay Sands (MBS) resort property.
| CARIBBEAN |
Atlantis President and Managing Director Howard Karawan said that the company will shell $130m over the next couple years to keep up with the opening of the Baha Mar resort.
| EUROPE |
UK advertising watchdog’s ire
The UK Advertising Standards Authority (ASA) has slammed two online gambling operators—Coral Interactive and LeoVegas—for releasing promotions that were supposedly “irresponsible” and “misleading.”
| FACT YOU NEED TO KNOW |
There are approximately 44 million different combinations that can occur to make a B-I-N-G-O when you play the game of bingo using a standard 90-ball card.
| WORD OF THE DAY |
Keyword Stuffing—it refers to the practice of cramming many keywords in content in the hopes of making it more visible on search engines. If you have great and valuable content, you don’t need to resort to this tactic.
| PRESS RELEASE |
Kambi Group plc signs long-term contract extension with 888 Holdings
Kambi Group continues its long-standing partnership with 888 holdings with the signing of a multi-year agreement which affirmed Kambi as 888’s Sportsbook of choice.
| SHOUT OUT |
US college football fans, come through! Oddsmakers have determined that the Alabama Crimson Tide had little competition to win the 2017 Southeastern Conference title. The team is listed as a -150 favorite to win their fourth consecutive SEC title. Other teams that could snatch the title are LSU Tigers (+500), Auburn Tigers (+500), Georgia Bulldogs (+700) and Florida Gators (+800).
| DAMN IT! SHARE IT |
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