Blockchangers Blog

Weekly Wrap Up #34

Quote of the week: “Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.” – Janet Yellen, U.S. Treasury Secretary. Source: https://www.fxempire.com/news/article/janet-yellen-says-bidens-eo-to-aid-responsible-innovation-in-crypto-928423

Biden’s Executive Order:  Biden’s executive order does not announce any cryptocurrency restrictions, but it seems to anticipate increased and focused federal oversight of the industry. The language of the order is favorable and the main focus remains on the coordination of many agencies’ efforts to promote a unified national policy. Furthermore, the order seems to predict a future expansion of digital assets to expand financial accessibility and maintain international leadership. Source:

https://cointelegraph.com/news/biden-signs-executive-order-on-crypto-authorizes-all-government-effort-to-consolidate-regulation

Bitcoin Update:  This past week, Bitcoin has been volatile, following news pertaining to the war in Ukraine and Biden’s crypto executive order. On March 4th, Bitcoin lost 10% of its value over two days after concerns heightened over nuclear threats and the heightened war in Ukraine. However, after Biden revealed his cryptocurrency executive order, Bitcoin’s price surged. 

Sources: https://www.wsj.com/articles/biden-to-order-study-of-cryptocurrency-risk-creation-of-u-s-digital-currency-11646823600?mod=itp_wsj

https://cointelegraph.com/news/bitcoin-declines-with-us-stocks-as-nuclear-threat-ripples-through-markets

https://coinmarketcap.com/currencies/bitcoin/

 

International Regulation Featuring Dubai: The Prime Minister of Dubai announced and issued the new crypto law, the Dubai Virtual Asset Regulation Law, on March 9, 2022. This new law will address the protection of investors and will create international standards for cryptocurrency. Furthermore, the law will establish regulations for cryptocurrency businesses. In addition to the new regulation, Dubai is also forming the Dubai Virtual Asset Regulatory Authority, which will be responsible for overseeing the application and implementation of the law. Source: https://finance.yahoo.com/news/dubai-ruler-announces-crypto-law-095514803.html

 

The Metaverse, Sandbox, Continues to Expand:  Announced on International Women’s Day, The Sandbox Metaverse revealed its partnership with the nonfungible token community World of Women in an effort to launch the WoW Foundation. This partnership is intended to drive and increase female education and mentorship opportunities. The two will work together to create interactive experiences in the metaverse. Some of the initiatives include building the WoW Museum on a 2×2 Sandbox LAND, the WoW University, which will provide free online classes on how to get started with Web3, and The WoW Academy, which will function as a mentoring and funding incubator. Source:  https://cointelegraph.com/news/the-sandbox-partners-with-world-of-women-to-drive-female-education-and-mentorship

 

Goldman Sachs Further Diving into Cryptocurrency: Financial services giant Goldman Sachs is offering clients access to more cryptocurrency investments. Goldman Sachs is partnering with Galaxy to offer clients access to an Ethereum fund issued by Galaxy Digital, as per documents filed recently with the Securities and Exchange Commission. Goldman Sachs clients are eager and looking forward to Spot exposure to Ethereum. Source: https://www.fxempire.com/news/article/goldman-sachs-to-offer-ethereum-fund-by-galaxy-digital-to-clients-929274

 

And, that’s a wrap!

Jordana Cohen,

Associate

Alpha Sigma Capital

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Alpha Sigma Capital
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.