Blockchain and Cryptocurrency News Roundup

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  • June 22, 2020
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22 June 2020.

Another exciting week in the Crypto and Blockchain world. Catch up on the latest right here.

Securitize Joins The JSTOA

“According to Domingo, Japanese investors are very active in the blockchain space, and Japan has comprehensive laws on cryptocurrency regulation, although it has had trouble making a clear distinction between digital assets and cryptocurrency. Large financial services institutions are also inclined towards taking advantage of adopting blockchain technology and digitization for securities, Domingo added.”

CoinDesk

Decentralized Finance Surges 

“The Decentralized Finance (DeFi) ecosystem continues to attract new users and capital as new products and services launch. The total value of assets locked into the DeFi ecosystem surged to a new all-time high last week, hitting US$1.52 Billion according to DeFi Pulse. The DeFi vision is to create a decentralized financial system that offers the same financial products and services seen in traditional finance without the need for a central authority. One of the core tenants of DeFi is composability, a design feature meaning that the components of a system can be connected to each other. In this way, the different products and services in the DeFi ecosystem can be linked together to create new products.”

BraveNewCoin

Ernst & Young Launches Crypto Tax Platform

“EY CryptoPrep supports many major cryptocurrency coins and exchanges. Aggregating and reconciling transaction data, it applies appropriate tax rules to deliver a detailed account of cryptocurrency capital gains or losses. It then provides a completed Form 8949 for all applicable tax years. The core technology and service are also available to clients as a managed service through EY TaxChat and the EY Blockchain Analyzer.”

YahooFinance

New Zealand Authorities Recover $90M From Alleged Launderer

“The stablecoin market has added a hefty 94% to its total supply in the last four months, rising from $5.7 billion in February to $11 billion in June. According to research from The Block, dollar-collateralized stablecoins are experiencing something of a renaissance as demand skyrockets this year. In 2020, the stablecoin market expanded almost twice as much as it did over the last three years.”

Cointelegraph

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