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Digital Currency and Blockchain Weekly Round-Up – December 13th, 2019

Fri, 13 Dec 2019, 12:12 pm UTC

New York regulator publishes proposed guidance to modify BitLicense
The New York Department of Financial Services (NYDFS) has officially announced that it is reviewing its virtual currency regulations. The regulator on Wednesday published proposed guidance that seeks to modify the approval process for new coin listings. NYDFS Superintendent Linda Lacewell said that this marks the first step in DFS’s review of New York’s BitLicense to respond to changes in the marketplace over the past four years.

Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
The Basel Committee on Banking Supervision (BCBS) is seeking feedback on the prudential regulatory treatment of crypto-assets. The committee on Thursday published a discussion paper “Designing a prudential treatment for cryptoassets.” The paper said, “The current Basel framework does not specify the prudential treatment for banks’ exposures to cryptoassets, given their relative novelty. The Committee is considering whether to specify a global prudential standard.”

Brazil to impose fines on individuals failing to declare cryptocurrency transactions
Brazil has published a new tax code that will be fining individuals who fail to declare their cryptocurrency transactions. The announcement was made by the Department of Federal Revenue (RFB), the tax agency of Brazil. Brazilians who fail to follow this new regulation will be fined accordingly, which ranges from $120 to $360.

South Korea to impose capital gains tax on crypto transactions; Bill slated for introduction in 2020
South Korea is currently looking to tax capital gains from cryptocurrency transactions. A bill on these lines will be drawn up by the country’s Ministry of Economy and Finance and is slated to be introduced in tax regulations next year, Korea Times reported. Drafted alongside the crypto capital gains regulation is another bill that will provide more transparency on digital currency transactions.

Ukraine passes final regulatory law for anti-money laundering; Taps Belarus exchange for more regulatory expertise
The anti-money laundering law (AML) that will oversee the crypto space within Ukraine has now been completed and passed. Ukrainian legislating body Rada recognizes that crypto-assets can be used as a store of wealth but is also taking precautions due to the risks that it poses. Under this new regulatory framework, individuals and virtual asset service providers (VASP) will be monitored by authorities to decrease crime occurrence in the nascent sector.

Insights

  • SEC chairman says DLT can foster capital growth; Revealed that agency has been studying digital assets
  • Digital assets are here to stay; State Street survey reveals continued institutional interest
  • Blockchain technology poses money laundering, terrorist financing risks, says annual FINMA report
  • FinCEN sees spike in crypto-related suspicious activity reports after May advisory
  • Bank of Lithuania publishes paper on CBDC to nurture discussions around the new innovation
  • Cryptocurrencies could replace fiat currencies by 2030, says Deutsche Bank

Company News

  • Securitize acquires Japanese blockchain consultancy firm following backing from SBI Investment
  • Franklin Templeton leads blockchain-based social impact platform’s funding round
  • Blockchain startup Digital Asset secures $35M in Series C round
  • TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days
  • Swiss crypto-financial firm acquires approval from Swedish regulators to offer ETPs across EU
  • Grant Thornton releases second report on Cryptopia liquidation; Pulls back nearly $5M from various sources
  • ConsenSys shuts down India, Philippine offices; 11 people axed by the closure
  • Huobi US to cease operations on Dec. 15
  • Wu Jihan once again takes over the helm at Bitmain as CEO
  • LedgerX founders temporarily replaced after derivatives provider collided with CFTC

Partnerships/Consortiums

Digital Currency Initiatives

  • Terra launches stablecoin-powered payments service in Mongolia
  • Napoleon Bitcoin Fund launches in France to cater to institutional investors
  • Investment group acquires green light from the SEC for Bitcoin Futures fund
  • Bakkt launches options and cash-settled futures products
  • Crypto exchange OKEx to launch options trading this month
  • Boerse Stuttgart’s cryptocurrency exchange BSDEX opens to all German investors
  • Korean cybersecurity firm partners with R3 for digital asset management and MPC technology
  • Elliptic launches a risk-assessment tool for banks to identify trustworthy crypto exchanges
  • Ripple improves Xpring platform to boost growth of XRP developer community

Blockchain Initiatives

  • Twitter looks to blockchain to decentralize social media
  • Russian power grid company to use blockchain technology to solve massive energy debt issue
  • Nike secures patent for blockchain-enabled “CryptoKicks”
  • Italian copyright pioneer collaborates with blockchain firm to protect intellectual property
  • Blockchain-based social media platform Voice to release public beta in February 2020
  • Microsoft unveils blockchain token and data management service
  • Kadena blockchain to track CBD oil in partnership healthcare-focused tech firm
  • Bank of China lends $2.8B to SMEs using own blockchain-based bond issuance system

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  • Bitcoin (BTC) $9,829.96 (+2.02%)
  • Ethereum (ETH) $269.07 (+2.91%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $393.36 (+5.18%)
  • Bitcoin SV (BSV) $288.77 (+2.90%)
  • Bitcoin (BTC) $9,829.96 (+2.02%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
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