Elad Roisman Sworn in as SEC Commissioner

New Appointment at SEC

The United States Securities and Exchange Commission has appointed a new Commissioner. Elad L. Roisman was sworn into office by Jay Clayton, the SEC Chairman. Roisman was nominated to the SEC by the president and on September 5th, his nomination was confirmed by the US Senate. His term expires on June 5, 2023.

Mr. Roisman expressed his enthusiasm towards joining the commission. He said, “I am excited to have the opportunity to be back working with the talented and hardworking people at the SEC, as well as with my fellow Commissioners. I look forward to engaging with them and the public to carry out the SEC’s important mission.” This was echoed by Chairman Clayton, who applauded the move and said it was an honor to welcome Roisman back to the commission.

The new commissioner has a high level of experience. Roisman was most recently Chief Counsel on the Senate Banking Committee, and was previously Counsel to SEC Commissioner Daniel Gallagher, a Chief Counsel at NYSE Euronext, and an attorney at the New York office of law firm of Milbank, Tweed, Hadley & McCloy LLP. He has a bachelor’s degree in History from Cornell University and a J.D. from the Boston University School of Law.

Impact of the New Appointment

The new appointment of the commissioner means new developments in the regulatory climate in the United States. Of major interest to crypto analysts and enthusiasts is the anticipated approval of a Bitcoin Exchange-Traded Fund (ETF).

Since blockchain-crypto is a new area, guidelines and regulations are still evolving. On August 23rd, the SEC indicated that it would review a decision made by its staff to block nine bitcoin-based exchange-traded funds. The staff stated that they weren’t convinced that an ETF would not be subject to fraud or manipulation.

According to a March report posted on the SEC’s website, the commissioners were mandated to review a decision on an ETF approval. The commissioners previously voted 3 against 1 in rejecting another bitcoin ETF application. Notably, Hester Peirce, the Republican commissioner, dissented the approval on the basis of stifled innovation.

All eyes in the crypto sphere are therefore directed at the new commissioner with the hope that his appointment will result in an approval of a Bitcoin EFT.

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Grace Muthoni
Grace Muthoni is a Staff Writer for Block Telegraph. She is a Crypto Enthusiast and covers topics relating to the digital currencies and the Blockchain. She studied Economics and is well vested with numbers, statistical analysis, data presentation and quality content writing.

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MovieCoin Open Doors for Investing in Hollywood

MovieCoin could fund new Hollywood films.

MovieCoin Begins Public Pre-Sale

Last November, Christopher Woodrow, the producer of six Oscar-winning films, claimed that blockchain technology will disrupt Hollywood as it has other industries. He is one of the first people to become part of this disruption, launching a distributive-technology-based token named MovieCoin.

MovieCoin has begun its public presale for security and utility tokens. The firm expects to make about $470 million via the public presale, which follows a private presale capped at 2,000 Bitcoin (BTC).

During the public presale, the company will accept BTC, BKX, and Ethereum tokens with a minimum commitment set at 5 Bitcoins or equivalent and a hard cap of 10,000 BTC. Simultaneously, the firm will issue security and utility tokens during the presale: MovieCoin Smart Fund (MSF) Security Token and MovieCoin Utility Token (MOV).

MovieCoin logo
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Image Credit: MovieCoin / movie.io

The company plans to make $220 million by selling two billion MovieCoin Utility Tokens at $0.11 per token and $250 million by selling 250 million MovieCoin Security Tokens at $1 per token. The company is offering an incentive to initial investors in MovieCoin Utility: a bonus up to 25% of the quantity purchased. The public presale will run until October 30 at midnight Pacific time.

The BKX tokens are issued by BANKEX, a global top-20 financial tech company working on Proof-of-Asset Protocol for MovieCoin. Since BKX tokens are a variation of the ERC-20 utility token linked with the blockchain of Ethereum, they will provide an extra 5% bonus rate.

MovieCoin’s Vision

MovieCoin is a next-gen fintech firm focusing on leveraging proprietary applications, digital assets, and blockchain technology to disrupt the film and entertainment industry, as well as become the leading entertainment transaction and settlement platform for consumers and businesses. It wants to become the standard currency for funding television, motion pictures, and other media.

Woodrow plans to use the raised funds for making movies. Tokens issued by MovieCoin can be traded in the secondary market, offering opportunities for investors to profit with film successes. After the public presale concludes, the company will sell public tokens from November 1 through 25 that require no minimum contribution.

In an interview with Bloomberg, Woodrow said, “We’re trying to revolutionize the way films are financed. Hollywood is relationship driven and what we bring to the equation is the ability to gain access to the highest levels of film finance. We’re in the process of putting together a slate of projects that will include A-list movie stars, top-tier directors, seasoned and established producers, and that will form the initial slate for MovieCoin.”

MovieCoin says that its token-based financing system will provide a transparent ledger of everything that goes into financing each film project. Since tokens are infinitely divisible, they will be highly liquid as compared to other investments. There are also plans to sell tokens allowing consumers to get movie tickets, along with buying or renting films and TV series in various ways. All of these options will allow film enthusiasts more control over how they consume their entertainment.

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TigerWit Partners with Liverpool FC to Promote New Blockchain-Based Trading App

A row of Liverpool FC soccer kits.

Official ForEx Trading Partner

Liverpool FC has entered into a new global partnership with TigerWit. The English premier league has embraced the partnership, promoting TigerWit’s blockchain-enabled trading through a smart, sleek, highly-intuitive app. The app is harnessed across a distributed trading ledger.

Highly detailed, cryptographically encoded transactions are shared through the trading network. The distributed trading ledger at TigerWit is based on blockchain trade settlement, ensuring delivery of greater security, more efficiency, transparency, and trust.

The soccer giant joins other Premier league clubs to embrace Blockchain in cryptoasset trading. Just recently, Brighton & Hove Albion, Newcastle United, Tottenham Hotspur, Crystal Palace, Leicester City, Southampton, and Cardiff City announced new partnerships with eToro.

New trading partners TigerWit and Liverpool FC pose with a soccer kit that says TigerWit.
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Image Credit: Liverpool FC

Billy Hogan, Managing Director and Chief Commercial Officer of Liverpool FC, was excited about the partnership, stating, “As our official Online Foreign Exchange Trading Partner, we are very excited to develop our partnership with TigerWit. Liverpool FC has a large number of fans across the globe, particularly in TigerWit’s core markets in the UK, Europe, and Asia. Through this new partnership with TigerWit, we look forward to marketing activations, which help bring our fans around the world even closer to the Club.”

Tim Hughes, Chief Executive Officer at TigerWit, also expressed his enthusiasm with the partnership, stating, “Today is a proud day for TigerWit, we are launching our innovative blockchain-based trading app and partnering with Liverpool FC. TigerWit believes in a market that does not discriminate or play favorites. We have developed a pioneering blockchain-based settlement system that instills trust by delivering greater security and process efficiency. Trading should be, and can be, more transparent and fair for all traders, regardless of experience or the size of their account.”

What the New Deal Presents

The partnership will aid in driving technological development in Europe, the UK, and Asia. These are Liverpool strongholds with many of the League’s Kopites. Additionally, it will assist to increase downloads of the trading app in these regions.

TigerWit will also benefit from brand exposure at Anfield as well as through Liverpool’s social media channels. This is in addition to matchday privileges and club hospitality at the stadiums.

Liverpool players Alisson Becker, Georginio Wijnaldum, and Naby Keita have already been featured in a TV commercial with the brand.

Traders and users will benefit in trading with TigerWit’s app in various ways. These include; a minimum initial deposit of US$50; flexible leverage; multiple product options such as FX, precious metals, commodities, and indices; and low minimum order value of just 0.1 Lot.

This may seem to be an unusual partnership, but both groups are highly enthusiastic about the benefits and exposure they’ll give to each others’ fans.

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