Digital Currency and Blockchain Weekly Round-Up – January 18th, 2019
Fri, 18 Jan 2019, 11:41 am UTC
Wyoming advances sandbox bill to foster blockchain and fintech innovation
The Wyoming House Committee on Minerals, Business and Economic Development has unanimously approved the “Financial Technology Sandbox” bill, CoinDesk reported. If passed, the bill will create a program which will allow a person to “make an innovative financial product or service available to consumers during a sandbox period through a waiver of existing statutory and rule requirements, or portions thereof, by the commissioner or secretary.”
Wyoming lawmakers introduce bill to allow issuance of tokenized stock certificates
Wyoming lawmakers have introduced a bill that would allow corporates to issue certificate tokens in place of stock certificates using blockchain technology, CoinDesk reported. On January 16, Republican Jared Olsen, Senator Chris Rothfuss (Democrat), along with six other Republican representatives filed House Bill 0185, titled “Corporate stock-certificate tokens.”
Vermont to launch captive insurance blockchain pilot
The U.S. state of Vermont is going to launch a pilot project that will focus on exploring blockchain potential in the digital recordkeeping practices of the captive insurance industry. On January 9, the Secretary of State's Office and Department of Financial Regulation signed a memorandum of understanding (MOU) to look into the application of blockchain technology in the digital recordkeeping practices.
Monetary Authority of Singapore seeks to introduce regulation for cryptocurrency exchange services
The Monetary Authority of Singapore (MAS) is seeking to introduce a regulatory framework for cryptocurrency exchange services. During the second reading of the “Payment Services Bill,” Ong Ye Kung, Minister For Education, on behalf of Tharman Shanmugaratnam, Deputy Prime Minister and Minister-In-Charge of the MAS, said that the bill provides a forward-looking and flexible framework for the regulation of payment systems and payment service providers in the country.
Securities Commission Malaysia likely to launch crypto and ICO regulatory framework by Q1 2019
The Securities Commission Malaysia (SC) has announced its plans to implement guidelines to regulate the trading of cryptocurrencies and initial coin offering (ICO). The announcement follows the recent statement from the Minister of Finance YB Tuan Lim Guan Eng that the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 will go into effect on January 15, 2019.
South Korea’s Financial Services Commission to launch fintech sandbox in April
South Korea’s Financial Services Commission (FSC) is planning to launch a financial regulatory sandbox in April 2019. At a recent meeting with fintech entrepreneurs, executives of financial institutions and investors, FSC Chairman Choi JongKu outlined the FSC’s policy priorities for fintech innovation in 2019.
Danish Tax Agency to obtain trading information from three local crypto exchanges
The Danish Tax Agency has announced that it has been authorized by the country’s Tax Council to obtain information on cryptocurrency trading from three local crypto exchanges from 2016 to 2018. This marks the first time that the agency would have access to this information, it said.
New Zealand crypto exchange Cryptopia suffers security breach
Cryptopia, a New Zealand-based cryptocurrency exchange, has suspended its activities following a security breach. In a tweet, the exchange said that it suffered a security breach on January 14 which resulted in “significant losses.”
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