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Digital Currency and Blockchain Weekly Round-Up – May 24th, 2019

Fri, 24 May 2019, 11:36 am UTC

U.S. IRS to soon issue crypto tax guidance
The United States Internal Revenue Service is currently drafting its first crypto tax guidance since 2014, Commissioner Charles P. Rettig said recently, CoinDesk reported. In response to a request from Rep. Tom Emmer for additional guidance on reporting cryptocurrencies, Rettig said that the agency has been working with internal and external stakeholders to identify the areas where needed and helpful additional guidance can be provided.

PBoC-backed Shenzhen Fintech Research Institute seeks blockchain talent
The Shenzhen Fintech Research Institute is seeking blockchain talent, the institute’s recent job posting has revealed. CoinDesk reported that the institute has posted 29 job openings via the recruitment website Lagou.com. Three of these require blockchain-related expertise.

Japan’s new crypto regulations move to upper house of National Diet
Japan’s House of Representatives on Tuesday submitted new crypto regulation in the upper house of the National Diet, called the House of Councillors, according to Nikkei. The lower house passed amendments to two existing financial laws, namely, the Funds Settlement Act and the Financial Instruments and Exchange Act. Both intend to enhance the local regulations of the cryptocurrency trading process.

Bank of Russia to review proposal on gold-backed cryptocurrency
A proposal on a gold-backed cryptocurrency will be reviewed by the central bank of Russia, Bank of Russia Governor Elvira Nabiullina was quoted saying by TASS. The crypto is intended to help facilitate mutual settlements with other countries. Nabiullina, however, noted that fiat currency settlements in the Eurasian Economic Union framework are currently developing and have “good dynamics.”

South Korean government to run second study group on blockchain regulation
South Korea’s Ministry of Science and ICT has announced that it will run a second study group to promote the adoption of blockchain technology. In a press release issued this week, the government said that the “Blockchain Regulation Improvement Study Group”, which was launched last June, aims to “improve the legal system that prevents the spread of block chain technology.”

Seoul to roll out blockchain-based citizen cards
The city of Seoul in South Korea is planning to implement blockchain technology in citizen cards, Cointelegraph reported referring to a report from Queen.co.kr. Speaking at a conference, Seoul Mayor Park Won-soon said, “We will implement a blockchain integrated authentication system in Seoul citizen’s card and expand the base for easy access to various administrative services.”

Bahamas securities watchdog proposes cryptocurrency regulations
The Securities Commission of The Bahamas (SCB) has proposed a new framework to regulate the issuance and sale of digital tokens to lure blockchain businesses and crypto investments to the island nation. The draft, entitled “Digital Assets and Registered Exchanges Bill 2019,” seeks to regulate token offerings that are not deemed securities.

Research Studies

  • Crypto and forex scams more than tripled in 2018/19 financial year, FCA finds
  • Crypto-assets pose no immediate threat but need monitoring: ECB

Company News

Partnerships/Consortiums

Digital Currency and Blockchain Initiatives

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Jun 20, 2019 (Thursday)
09:42
QuadrigaCX co-founder Gerald Cotten used user cryptocurrency for own trading: EY Report
08:39
Blockchain firm Algorand's token sale raises $60M within four hours
07:33
Brazil seeks to curb tax fraud, publishes new rules for cryptocurrency exchanges
06:49
Open banking platform Token secures $16.5M strategic investment to transform payment industry
06:40
U.S. Senate schedules July hearing for Facebook's Libra crypto
06:36
Major JSTA-Securitize partnership aimed at boosting Japanese digital securities adoption
06:22
HSBC-Dubai blockchain partnership to shake up the retail industry
05:51
Blockchain dominates Singapore skills market in new LinkedIn report
05:28
New cryptocurrency auditing tool announced by PwC
05:06
Hard Core Fund secures 50 BTC to fund bitcoin developers
04:25
Cloudflare bets big on Ethereum, new gateway announced
03:59
Russia to soon approve cryptocurrency bill
03:45
Ethereum-powered video platform raises $8M in Series A funding led by Northzone
03:36
U.S.-based Monsoon Blockchain inks MOA with two Philippines government agencies DTI, DICT
03:32
India's TRAI may implement blockchain in mobile number portability
Jun 19, 2019 (Wednesday)
12:31
Block.one pays $30M for domain name of upcoming blockchain-based social media platform “Voice”
10:56
R3, ripe.io team up to enhance transparency and trust for food and agricultural supply chain using blockchain
09:42
Crypto Technicals: XMR/USD pares previous sessions' losses, close above $100 mark to propel further gains
09:32
Georgian government and universities team up with IOHK to explore blockchain potential
08:33
Crypto Technicals: ETH/EUR retraces with 'Hammer' formation, breakout at 50H SMA (240) to see further upside
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