Digital Currency and Blockchain Weekly Round-Up – August 30th, 2019
Fri, 30 Aug 2019, 12:11 pm UTC
FINMA publishes regulatory guidance on blockchain-based payment transactions
The Swiss Financial Market Supervisory Authority (FINMA) today published new regulatory guidance for blockchain-based payment transactions. In its guidance, FINMA clarifies how it applies Swiss anti-money laundering (AML) rules to financial services providers supervised by it in the area of blockchain technology. The guidance applies to blockchain service providers such as exchanges, wallet providers and trading platforms.
U.K.'s National Liberal Party lashes current crypto policy, recommends new coherent platform
The National Liberal Party (NLP) of the United Kingdom has become the first political party to introduce a coherent forward-looking policy on cryptocurrency, criticizing the government for its failure to introduce a comprehensive crypto regulation and prevent crypto-related frauds.
Australia's top finance cop, FBI conduct joint criminal probe on cryptocurrency
The Australian Securities and Investments Commission (ASIC) and the Federal Bureau of Investigation (FBI) will jointly conduct for the first time an “open criminal investigation” on cryptocurrency products, according to News Corp Australia. The news was confirmed by ASIC Commissioner John Price, who revealed that a “range of people” who are believed to be involved are being targeted.
Central Bank of Brazil classifies cryptocurrencies in line with IMF guidelines
The Central Bank of Brazil (BCB) is moving to classify the buying and selling of crypto-assets according to the guidelines issued by the International Monetary Fund (IMF), Cointelegraph reported. According to the announcement dated August 26, the BCB said that in line with the IMF guidelines, traded cryptocurrencies will now be classified as non-financial products and therefore, will be accounted as goods on its balance sheet.
US lawmaker’s concerns on Facebook's crypto remain unresolved even after meeting with Swiss regulators
The concerns of U.S. lawmakers on Facebook’s proposed cryptocurrency remain unresolved even after their recent meeting with Swiss regulators. Chairwoman of the House of Financial Services Committee Maxine Waters led a group of six members of the committee to meet with Swiss government officials.
PBoC refutes media reports on its cryptocurrency launch plans: Chinese State Media
The People’s Bank of China’s (PBoC) has reportedly refuted recent reports that it was launching a government-backed cryptocurrency in coming months. The Global Times said in a tweet, “Refuting media reports of launching a state-backed cryptocurrency in the coming months, #China's central bank termed them as ‘inaccurate speculation.’”
Venezuela launches national crypto remittance platform “Patria Remesas”
The government of Venezuela has announced that its cryptocurrency-based remittance platform is fully operational. Called “Patria Remesas,” the platform will allow citizens working abroad to send money to Venezuela, Futurism reported.
Digital Currency Initiatives
<Copyright © TokenPost. All Rights Reserved. >