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Weekly news review (September 28-4)

Weekly news review (September 28-4)
Hello, Community! It's Monday again, but it doesn't have to be a bad thing since we've prepared the news highlights for you :)
The National Basketball Association (NBA) notified Brooklyn Nets’ player Spencer Dinwiddie that he cannot tokenize his $34.4 million contract.
As The New York Times reported on Sept. 27, the NBA pointed out that Dinwiddie’s initiative goes against the collective bargaining agreement in a statement sent to the outlet.
Dinwiddie, on the other hand, told the outlet that he intended to better illustrate the investment scheme to league officials, hoping to change their minds.
Per the report, by tokenizing the contract Dinwiddie would have allowed investors to bet — and capitalize — on his ability to play well enough to earn an even more lucrative contract after the second year of his deal. As Cointelegraph reported on Sept. 16, the plan was to enable investors to buy into his three-year $34 million playing contract with his team.

A new association in Japan brings significant institutional support to security token offerings (STO), just months before regulations on the public sale of coins in the country are to be implemented.
On Oct. 1, six major Japanese brokerages, including Nomura Securities and Daiwa Securities, formed the Japan STO Association, a self-regulatory organization (SRO) for STOs.
The association will devise rules and guidelines for the issuing of security tokens. In addition to regulating its members, the group will also take on lobbying duties, endeavoring to develop security tokens as a product and promote their use in the country.

UK police auctioned off more than $294,000 of cryptocurrency confiscated from the teenage hacker of EtherDelta and TalkTalk.
The Eastern Region Special Operations Unit (ERSOU) worked with Wilsons Auctions to sell the digital assets, including bitcoin, ripple and ethereum, in what is said to be the unit’s first such auction.
The department hired an asset management and realization contractor to vet the bidders “to ensure that the assets are not able to make their way back into crime,” according to the statement.

One of three scientists caught illegally bitcoin mining at a Russian nuclear lab has been fined 450,000 rubles, or $7,000.
As reported in the Moscow Times Tuesday, Denis Baykov was handed the penalty by a jurisdictional city court for accessing the lab’s supercomputer to illegally mine the world’s top cryptocurrency by market valuation.
The mining trio was first exposed last February and promptly handed over to the Federal Security Service.

The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners.
According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs.
The provision follows an Aug. 22, 2019 decree from President Shavkat Mirziyoyev entitled “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and to further motivate the rational use of electrical energy by consumers.

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