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Digital Currency and Blockchain Weekly Round-Up – June 21st, 2019

Fri, 21 Jun 2019, 11:50 am UTC

U.S. Senate schedules July hearing for Facebook's Libra crypto
The United States Senate Banking Committee will conduct a hearing on Facebook’s Libra cryptocurrency project on July 16, according to Market Watch. The hearing titled “Examining Facebook’s Proposal Digital Currency and Data Privacy Considerations,” comes after the social media giant ran into political opposition not only from the U.S. but also from European regulators, just hours after it released the white paper for its Libra token on Tuesday. The committee will still have to decide who will testify.

Canadian Securities Administrators includes blockchain and crypto-assets in Business Plan for 2019-2022
The Canadian Securities Administrators (CSA) has included crypto-assets and blockchain technology in its priorities over the next three years. The CSA last week published its Business Plan for 2019-2022, which sets out the priorities of its members over the course of the next three-year period. The document lists six strategic goals, with the last one relating to “technology-related emerging regulatory issues.”

Russia to soon approve cryptocurrency bill
Russia will soon join the list of countries that have adopted cryptocurrency legislation. The recent development comes on the heels of recent reports that suggest that Russians might be responsible for a huge crypto theft. Russia is expected to pass the crypto bill called “On Digital Financial Assets” (DFA) soon, Coin telegraph reports. This information reportedly came via Alexei Moiseev, the deputy finance minister himself, who said that the state is currently looking into the matter and might just pass it.

Russian Central Bank considers CBDC issuance, but not "right away"
Russian central bank’s chairman Elvira Nabiullina said the country is considering the issuance of its central bank digital currency (CBDC), but it will not be anytime soon, local media news outlet TASS reported. Speaking at a student conference in Skolkovo, Nabiullina noted CBDC cannot be realized right away, but the Russian central bank is looking into the possibility.

Seoul announces ₩50 billion 'Fourth Industrial Revolution Fund', focus on 5G, AI, blockchain, big data
The city of Seoul in South Korea has announced that it will invest 50 billion won in promising small and mid-sized venture companies via the Fourth Industrial Revolution Fund. “More than 80% of the 50 billion are invested in companies in the 4th industrial revolution sector, of which more than 26 billion won invest heavily in so-called ICT DNA such as 5G, AI, blockchain, and Big Data,” the release said.

Brazil seeks to curb tax fraud, publishes new rules for cryptocurrency exchanges
The Department of Federal Revenue of Brazil (RFB) on Wednesday published new rules for cryptocurrency exchanges, Cointelegraph reported. The new rules are primarily aimed at identifying tax fraud and would require cryptocurrency exchanges to inform the regulator about cryptocurrency transactions of users.

Brazil authorities to develop regulatory sandbox for blockchain, DLT
The Brazilian government and financial regulators are reportedly developing a regulatory sandbox type model targeting new technologies including blockchain. The Special Finance Secretariat of the Ministry of Economy, the Central Bank of Brazil, the Securities Commission, and the Superintendency of Private Insurance will work together to ensure the new initiative will adapt to the ongoing digital transformation in the financial, capital, and insurance segments.

Georgian government and universities team up with IOHK to explore blockchain potential
IOHK said that CEO Charles Hoskinson has signed MoU partnerships with the Ministry of Education, the Free University of Tbilisi, and the Business and Technology University of Tbilisi. One of the primary goals of the MoUs is to promote the use of Cardano-backed blockchain technology for storing, tracking, and verifying educational credentials, eliminating the existing time-consuming and expensive manual verification.

Insights & Views

Company News

Partnerships/Consortiums

Digital Currency and Blockchain Initiatives

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