Here are this week’s top stories in cryptocurrency and blockchain.
by Ana Alexandre, Coin Telegraph
Senate Bill 1091 passed, but it happened without important cryptocurrency provisions allowing citizens to pay taxes with bitcoin. Instead of mandating it by law, it just includes language to consider alternative currencies. This could mean they’ll use crypto to start repossessing everything we own.
by David Floyd, Coindesk
Ripple is being sued by Ryan Coffey in San Francisco County Superior Court. Coffey alleges XRP are securities being sold under false pretenses, since crypto hodlers don’t have the same protections as traditional stockholders.
by Brian Penny, Cryptobriefing
Steem is a blockchain and crypto designed to host user-generated content websites. Steemit is its first success, with over a million unique monthly users. Does Steem have the steam to keep pushing forward?
by Bitcoin Exchange, CCN
Singapore-based cryptocurrency exchange Huobi is opening a Toronto office. It’s a big step towards its North American expansion as the third-largest crypto exchange works with Canadian regulators to legitimize its business. Huobi works with a trade volume of around $1.7 billion daily.
by Joon Ian Wong, Quartz
While Bitcoin is a commodity in the U.S., the SEC is considering classifying Ethereum as a security, or essentially company stock. This move will be a step toward crypto legitimacy and determine where and how each crypto exchange should occur.
by Michael Walsh, Nerdist
As part of a new marketing blitz, Oscar Meyer is issuing temporary Bacoin crypto tokens for people to redeem for free Oscar Meyer bacon. It’s not the company’s first promotional blitz for its product (check out dating app Sizzl), but it’s sure to inspire copycats for years to come.