Digital Currency and Blockchain Weekly Round-Up – April 19th, 2019
Fri, 19 Apr 2019, 11:36 am UTC
IMF and World Bank launch “Learning Coin” to better understand blockchain and crypto assets
Two international financial institutions – the International Monetary Fund (IMF) and the World Bank – are the latest to jump on crypto and blockchain bandwagon. In a report dated April 13, the Financial Times said that the organizations have launched a private blockchain and quasi-cryptocurrency as part of their efforts to better understand this technology.
US SEC and FINRA to discuss digital assets and cybersecurity at National Compliance Outreach Program for Broker-Dealers
The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are going to hold the National Compliance Outreach Program for Broker-Dealers on June 27, 2019. According to the press release, the program will focus on insights from leadership, protecting retail investors, and regulatory “hot topics” such as digital assets and cybersecurity.
Japan’s FSA to introduce new rules for crypto exchanges’ cold wallets: Report
Japan’s Financial Services Agency (FSA) is planning to implement new rules to enhance the security of cold wallets that are used to store cryptocurrencies at crypto exchanges, Reuters reported. An anonymous source familiar with the matter told the media giant that the FSA will require crypto exchanges to strengthen the measures to supervise cold wallets.
French government to invest €4.5B into blockchain technologies
French finance minister Bruno Le Maire has revealed the government’s plan to invest 4.5 billion euros in blockchain and other cutting-edge technologies over the next five years. According to a translated transcript of the minister’s interview with a French business magazine published by Trust Nodes, Le Maire said that the development of the blockchain ecosystem is a priority for the government.
National Payments Corporation of India to develop blockchain solution
The National Payments Corporation of India (NCPI), an umbrella organisation for operating retail payments and settlement systems in India, is considering developing a highly scalable blockchain solution to reinforce digital payments, Business Today reported. It has floated an Express of Interest (EOI) to enable bidders to propose their capability for developing distributed ledger technology/blockchain in the payment domain.
RBI’s regulatory sandbox allows testing blockchain applications but not cryptocurrencies and ICOs
The Reserve Bank of India (RBI) has become the latest central banking authority to establish a fintech regulatory sandbox. The sandbox would allow testing of various applications of blockchain technologies and smart contracts, artificial intelligence, and more. However, it would not allow testing any products/services/technology involving cryptocurrency services, trading/investing/settling in crypto assets, and Initial Coin Offerings, (ICOs), among others.
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