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Weekly Wrap Up #21

Quote of the week: “The solution is not to shoehorn digital asset operations into a regulatory system designed for earlier generations of financial assets…” Charles Cascarilla, CEO of Paxos. Source: https://finance.yahoo.com/news/crypto-ce-os-to-congress-regulate-us-but-dont-shoehorn-old-rules-on-new-assets-013036171.html

Regulation Featuring India:  On November 23, the Indian government reported that it was considering a bill that would ban all private cryptocurrencies, which sparked market chaos and panic. On December 3, reports from local media reported that the Indian government will not move for an outright ban on cryptocurrency and will instead regulate it. Source: https://cointelegraph.com/news/cabinet-note-suggests-india-will-regulate-rather-than-ban-crypto

Update on El Salvador:  El Salvador bought the Bitcoin dip this past week, purchasing 150 Bitcoin. With this purchase, El Salvador’s Bitcoin reserve now is worth $60.3 million, which is approximately 1,270 BTC.  Source:  https://cointelegraph.com/news/el-salvador-stacks-150-bitcoin-after-btc-price-crashes-below-50k

Visa is Now Offering Crypto Advisory Services:  Visa has formed a global crypto advisory service in an effort to assist financial institutions to develop their cryptocurrency businesses. Visa’s advisory team will work parallel to the company’s consulting and analytic divisions to help assist banks with their cryptocurrency strategies. Source: https://www.coindesk.com/business/2021/12/07/visa-launches-crypto-advisory-services-for-banks-as-demand-for-digital-assets-grows/

Mass Adoption on WhatsApp:  Recently, it was announced that WhatsApp started testing currency payments with Meta’s Novi Wallet, despite some United States senators opposing Meta launching its own digital currency products and services.  According to the executive, the new feature is available to a restricted number of people, but it is allowing users to send and receive money on WhatsApp instantly and with no fees. Source:  https://cointelegraph.com/news/whatsapp-starts-testing-currency-payments-with-meta-s-novi-wallet

Crypto Debit Card:  Ledger is the latest cryptocurrency company working on a cryptocurrency debit card that connects to a cryptocurrency wallet. The company announced that it plans to launch its own debit card called the Crypto Life card. Source:  https://finance.yahoo.com/news/ledger-launch-crypto-debit-card-182426108.html

And, that’s a wrap!

Jordana Cohen,

Associate

Alpha Sigma Capital

jcohen@alphasigmafund.com

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Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.


Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.