Digital Currency and Blockchain Weekly Round-Up – December 14th, 2018
Dec 14, 2018 11:45 am UTC
US CFTC seeks to better understand Ethereum Blockchain
The U.S. Commodity Futures Trading Commission (CFTC) is seeking to better understand the technology, mechanics, and markets for cryptocurrencies, with a particular focus on ether and its use on the Ethereum Network. On these lines, the CFTC has published a Request for Information (RFI) in order to gather public feedback on a range of questions related to the underlying technology, opportunities, risks, mechanics, use cases, and markets, related to Ether and the Ethereum Network.
Vermont state agencies establish blockchain working group
Four state agencies in Vermont have come together to establish a working group to look into the opportunities and challenges presented by blockchain technology. Participating agencies include the Department of Financial Regulation (DFR), the Secretary of State, the Agency of Commerce and Community Development (ACCD), and the Attorney General’s Office.
Growing use of cryptocurrencies and mobile payments forces EU to strengthen rules on criminalisation of non-cash payment fraud
The European Union is going to strengthen the rules to combat fraud and counterfeiting of non-cash means of payment. According to an official release dated December 11, “The European Parliament and the Council reached political agreement on the Commission's proposal to strengthen rules to combat fraud and counterfeiting of non-cash means of payment – such as bank cards, cheques, mobile payments and virtual currencies.”
UK intends to regulate cryptocurrency exchange providers under EU’s AMLD 5: FATF
The Financial Action Task Force (FATF) has noted the efforts by the UK government to implement a regulatory framework for cryptocurrency exchange providers. The FATF last week announced that it conducted an assessment of the UK’s AML/CFT system which involved a comprehensive review of the effectiveness of the country’s measures and their level of compliance with the FATF Recommendations.
Ontario Securities Commission seeks crypto and blockchain experts for fintech advisory committee
The Ontario Securities Commission (OSC) has announced that it is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by startups in the securities industry. It will consist of up to 15 members and will meet quarterly, with additional meetings as required.
UAE, Saudi central banks to co-develop cryptocurrency for cross-border transactions
The Central Bank of the UAE, in collaboration with the Saudi Arabian Monetary Authority (SAMA) is embarking on a joint project to develop a blockchain-based digital currency which would be used in cross-border transactions between the two countries, Gulf News reported. Mubarak Rashed Al Mansouri, Governor of Central Bank of the UAE, made the announcement at a high-level meeting for the Arab region on global banking standards and regulatory and supervisory priorities.
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