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Much is said about the volatility of cryptoassets, such as Bitcoin and Ether. In an attempt to resolve this issue, some developers created the so-called stablecoins. But, what are those assets? The article “Um olhar completo das stablecoins”, written by Neto Guaraci, published by CoinTimes, explains in a simple and didactic manner this category of assets, examining several types of stablecoins.

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Brazilian Administrative Council of Economic Defense (CADE) will address the closure of checking accounts of cryptocurrency exchanges by Banks – As reported in our last newsletter, the controversial case of the unilateral closure of bank accounts of cryptocurrency exchanges by financial institutions is on trial before the Superior Court of Justice (STJ). Two weeks ago, the STJ has put on docket the controversy involving Mercado Bitcoin, an exchange, and Banco Itaú, but, because of the request for examination made by the Justice Nancy Andrighi, there has been no final decision on the issue. Last week, CADE started to discuss the request filed by Brazilian Association of Cryptocurrency and Blockchain (ABCB) to prohibit such conduct of the financial institutions. (VALOR ECONÔMICO; 08.14.2018)

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Superior Electoral Court (TSE) prohibits donations in Bitcoin and other cryptocurrencies to Brazilian candidates in the 2018 elections – TSE´s Ordinance No. 23.553, introduced a great number of changes in the electoral rules concerning the financing of campaigns, creating even the electoral crowdfunding – which allows candidates to receive campaign resources through collective funding platforms -, however, it prohibited candidates and parties to receive donations by means of cryptocurrencies. The TSE considered the position of the Brazilian Central Bank and the Brazilian Securities and Exchange Commission (CVM), which pointed out risks in transactions with this type of asset that are “unregulated currencies and do not allow the identification of origin of the resources or its control by national financial system”. (CRIPTOMOEDAS FÁCIL; 08.15.2018)

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West Virginia to offer mobile blockchain voting app for overseas military service members in November election – Nowadays, most U.S. citizens vote using paper ballots or voting machines. However, even with the voting machines, the ones that are not in their state during the election cannot exercise their vote right. West Virginia Secretary of State, Mac Warner, came up with a project to use blockchain technology in elections, enabling the right to vote for soldiers who will not be in West Virginia on the day of the election in November due to military service. They will be able to vote through their own smartphone using an app designed by Voatz. To ensure security, voters must upload a photo of an official ID and a video selfie displaying different angles of his/her face. The facial-recognition technology will release the vote if the information correspond to the registered data. Once the vote is made, Voatz will make it anonymous and register it in the blockchain.(ETHNEWS; 08.07.2018)

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SEC will decide on 9 Bitcoin ETFs in the next 2 months – ETF is also called “index fund” because they replicate the performance of indexes or assets. Traditionally, they are funds traded on stock exchanges, what allows diversification of investment in a single vehicle. Several cryptoassets exchanges filed with SEC a request to receive authorization to constitute such funds, backed by cryptoassets. The first request was made by the startup SolidX jointly with the company VacEck. This case will be decided within the next two months and will likely affect all outstanding requests. (COINDESK; 08.08.2018)

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Macrogen plans to securely share genetic data on a blockchainMacrogen, a DNA sequencing service provider in Seoul, is working on a project to develop a blockchain network for the secure sharing of genomic information. “In the medical field genomic data is used for customized patient diagnosis and treatment, while the pharmaceutical industry can use it for the development of new drugs and therapeutic agents”. The system “will only allow invited parties – such as pharmaceutical firms, research institutes, hospitals and genetic analysis startups”. (COINDESK; 08.06.2018)

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Exhibition of Arts in London will allow the purchase and sale of art using cryptoassetsThe House of Fine Art (HOFA) will allow the payment of the works exhibited in their galleries with cryptoassets. “The owners believe it will help to revolutionize the selling and buying of art not just in their business, but in the whole industry”. Considering that many people are looking for opportunities to use their cryptoassets without having to exchange them for “fiat currencies” (traditional currencies such as dollar, euro, real etc.), such strategy creates a cryptofriendly environment in the art market. (CRYPTODISRUPT; 08.09.2018)

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Blockchain Desk Recommends

On this issue, we suggest the reading of the paper written by John Light, “The differences between a hard fork, a soft fork, and a chain split, and what they mean for the future of bitcoin”, that deepens the study of the forks of blockchains.

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Blockchain Desk.