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Members Digest 7th of november 2018

Bearish: eight senators introduced a motion of no confidence in Hilda Heine, President of the Marshall Islands. One of the factors in the senators’ vote of no confidence is the plan to establish a digital currency as legal tender, which generated criticism from major financial organizations like International Monetary Fund (IMF) and the US Treasury Department. Reminder: in February, the Marshallese parliament endorsed the creation of the national cryptocurrency Sovereign (SOV) as “another step of manifesting national liberty.”

Legal: the Texas State Securities Board has served an Australian-based cloud mining company AWS Mining PTY LTD with cease and desist order for selling unregistered securities. AWS has 31 days to request a hearing with the Securities Commissioner, otherwise the order will become final.

Stablecoins: the Chairman of Deltec Bank & Trust has confirmed that Tether has published an “authentic” letter to prove that the company is solvent and has a balance of ~$1.83 billion. Earlier this month, Tether announced that it had set up a banking relationship with the Bahamas-based Deltec Bank & Trust.

Adoption: the Supreme Tribunal of Justice of Venezuela has ordered National Institute of Agricultural Research to pay a compensation of 266 petros or the equivalent to a Venezuelan citizen, who was injured at the institute. The Venezuelan government has also launched the petro saving plan on Monday. Reminder: the petro is considered a national monetary and accounting unit along with the bolivar, and it’s being used for transactions with the state oil company Petroleos de Venezuela (PDVSA).

Stats: on November 4, TRON surpassed 1 million daily transactions, which was more than the combined onchain daily transaction volume of BTC, ETH, and XRP that day. The Bitcoin Lightning Network mainnet has reached 11,900 active channels with almost 4,000 nodes.