First crypto investment bank gains major investments
The Swiss-based start-up called SEBA Crypto AG that is led by former UBS executives is attracting major investors for its funding round. Two companies have already announced that they are taking stakes at SEBA. Summer Capital, an asset management company from Hong Kong, and Black River Asset management from Hong Kong. While the first just announced its investment decision without stating the height of its investment, Black River is investing $100mn USD. SEBA plans to become the very first state-approved cryptocurrency investment bank and plans to launch its own ICO in 2019.
ESMA discusses crypto regulation in the EU
European Securities and Markets Authority (ESMA) chair Steven Maijoor stated that some ICOs have similarities to traditional financial products. Therefore, they would require regulation. Possibly within already established regulations for similar financial products. Maijoor said this before the European Parliament economic affairs committee. However, he added that the ESMA is still researching how to judge which ICOs should and can be regulated.
UK Supreme Court major ruling in wrongly sent ETH case
The Supreme Court of the UK spoke out a major ruling in a case where 530 ETH of Copytrack were sent to the wrong address by mistake. According to evidence presented before the court, the digital coins were sent to an ICO investor and the transaction could have serious effects on other cryptocurrency users as well as exchanges outside of the parties involved in the case.