Digital Currency and Blockchain Weekly Round-Up – January 3rd, 2020
Fri, 03 Jan 2020, 12:09 pm UTC
China’s securities regulators suspect crypto resurgence amid blockchain push
Following the recent blockchain push in China spurred by President Xi Jinping, the country’s securities regulator is suspecting “serious violations” of the "Announcement on Preventing the Financing Risk of Tokens" made in 2017. The China Securities Regulatory Commission (CSRC) issued a risk warning on Dec. 27 stating that “virtual currency trading activities are showing signs of resurgence in the country,” particularly highlighting crypto trading services, zero-interest loans, and digital currency mortgage provision, among others.
Guangdong government launches blockchain-based financing platform for SMEs
The government of Guangdong province in China has rolled out a blockchain-based financing platform that will help small companies receive loans from commercial banks quickly, CoinDesk reported citing a report from Sina Finance. In a press release, the government said that the platform launch is in line with Chinese President Xi Jinping’s blockchain endorsement. The objective, it said, was to address the financing challenges faced by SMEs, including information asymmetry, and the existing slow and expensive process.
National Payments Corporation of India unveils blockchain platform for automated payment, clearing and settlement
The National Payments Corporation of India (NCPI) has announced a distributed ledger platform for automated payment, clearing and settlement. Called “Vajra Platform,” the distributed ledger technology (DLT)-based system has been designed for automating payment clearing and settlement processes of NPCI products.
Turkey’s Takasbank launches blockchain-based transfer platform for digital gold
Turkey's Istanbul Clearing, Settlement and Custody Bank (Takasbank) has announced the launch of its blockchain-based transfer platform for digital gold, Cointelegraph reported. Called BiGA Digital Gold, the blockchain-based platform will enable banks to carry out the issuance, repayment and transfer of digitized gold.
National project on blockchain-based sureties management in Italy to begin in January 2020
Italian tech company SIA has announced that a trial of the national project aimed at digitizing the management of sureties using blockchain technology will kick off in Jan. 2020. Called the “Fideiussioni Digitali” initiative (Digital Sureties), the project is promoted by CeTIF, SIA and Reply, in collaboration with Bank of Italy and IVASS.
Treadway Commission to issue guidance on blockchain in Q1 2020
The Committee of Sponsoring Organizations of the Treadway Commission (COSO), an organization focused on combating corporate fraud, will be issuing guidance for supply chain management and financial services companies looking to implement blockchain technology, The Wall Street Journal reported. As per the report, the guidance, expected to be released in the first quarter of 2020, is part of COSO’s efforts to strengthen its oversight of projects that leverage blockchain technology.
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