SEC is hiring crypto securities advisor; Pakistan explores launching a digital currency; PayPal invests in first blockchain startup.
The United States Securities Exchange Commission (SEC) is looking to hire an attorney who specializes in crypto and digital asset securities according to a job posting on USAjobs.gov. The SEC is primarily responsible for enforcing and proposing federal securities laws in the US. This move by the SEC is in line with their continued efforts to create regulatory clarity in the blossoming industry. Coindesk gives a good overview of the position and analysis of what this could mean for future cryptocurrency regulation.
The State Bank of Pakistan promised to issue a digital currency by 2025. Asad Umar, the finance minister, made these comments at a ceremony regarding regulations of Electronic Money Institutions. They stressed the importance of a digital currency to promote financial inclusion and reduce inefficiency and corruption. Furthermore, the Deputy Governor of Pakistan, Jameel Ahmad, stated that “the central bank would adopt evolving-realities of time and would be fully digitized and technology equipped by the year 2030.“ Dawn provides in-depth detail of the statements made by the Pakistan officials.
PayPal invested in their first blockchain startup who focuses on Identity ownership. PayPal invested in Cambridge Blockchain’s series A round of fundraising. Cambridge Blockchain focuses on using blockchain technology to give users control of their own online identities, cutting out middlemen like Facebook. This is a massive move for one of the largest online payment companies in the world for it’s their first direct investment in the blockchain space and provides a more clear image of what PayPal’s plans are in the future regarding blockchain.