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Digital Currency and Blockchain Weekly Round-Up – November 29th, 2019

Fri, 29 Nov 2019, 12:14 pm UTC

Swiss federal government to amend DLT/Blockchain law to strengthen regulation
The Swiss federal government is looking to improve its existing financial market regulation that will oversee the crypto industry in the future. The Federal Council met yesterday, Nov. 27, to discuss the current regulatory framework. Members of the council found that although current legal regulation is “well suited” to handle the rise of the crypto market, there are some areas that need amendments.

China shuts down BISS crypto exchange, arrests more than 10 people; Binance ‘raid’ still unclear
China is currently cracking down on cryptocurrency exchanges that are operating within its borders. The People’s Bank of China (PBoC) – the country’s central bank – is spearheading this campaign in an attempt to halt crypto trading and protect investors from the volatile market. Individuals are instructed to report any crypto trading activities to the bank, maintaining its positivity towards blockchain technology while denouncing cryptocurrencies.

Indian government creating national blockchain policy for several sector applications
India is currently on the path to widely adopt blockchain technology and is currently working on an approach paper for the National Level Blockchain Framework. Minister of State for Electronics and IT (MeitY) Sanjay Dhotre announced the development of the strategy in response to a previous query sent by Lok Sabha, the lower house of the Indian parliament.

Thai SEC looks to amend royal decree on digital asset businesses in 2020
The Thai Securities and Exchange Commission (SEC) is seeking to amend the royal decree on digital asset businesses in 2020, Bangkok Post reported. Ruenvadee Suwanmongkol, secretary-general of the SEC, said that the SEC is looking if there are any areas in the royal decree that act as an impediment for digital asset businesses.

South Korea moves forward with bill to establish legal basis for cryptocurrencies
South Korea is moving ahead with a bill that will create a legal basis for cryptocurrencies, Korea JoongAng Daily reported. The bill, which will categorize cryptocurrencies as digital assets, has been passed by the National Assembly’s national policy committee on Tuesday, Nov. 26.

Bank of Ghana mulls launching central bank digital currency pilot project
The Bank of Ghana (BOG) is the latest central bank that is considering issuing a digital currency. In a recent speech, BOG Governor Ernest Addison said, “The Bank of Bank is also in discussion with key stakeholders to explore a pilot project (in a sandbox environment) on central bank digital currency [CBDC] with the possibility of issuing an e-cedi in the near future.”


  • Bank of Japan releases research report on legal issues surrounding CBDC issuance
  • Central Bank of France recommends adopting blockchain technology for efficient payment solutions
  • EU should create its own digital currency amidst the rise of stablecoins, ECB official said
  • EOS block producer finds six registered network producers managed by single entity
  • $4.4B lost to cryptocurrency thefts and scams in 2019: CipherTrace

Company News

  • SBI Investment joins digital securities startup Securitize’s Series A round
  • Ripple now owns nearly 10% of MoneyGram stock following completion of $50M investment
  • Crypto exchange Poloniex absorbs TRXMarket to expand its decentralized ecosystem
  • Chinese bitcoin mining giant Canaan Creative debuts on Nasdaq, raises $90M in IPO
  • Swiss cybersecurity, IoT and blockchain firm WISeKey to list shares on NASDAQ
  • Canada-based fund manager files prospectus for Bitcoin Fund IPO
  • Crypto and stock trading firm Robinhood retracts bank charter application
  • Swiss blockchain firm Lykke voluntarily renounces CySEC License
  • Crypto exchange IDAX halts services after CEO goes missing
  • Omni Rentals shuts down after raising $35M last year from Ripple executives, several investors
  • Operator of crypto exchange DX.Exchange begins bankruptcy proceedings after employees file petition
  • South Korean crypto exchange Upbit loses $49M worth of ether in security breach
  • New York judge orders 3 Telegram employees to give deposition including CEO Pavel Durov
  • U.S. Judge orders IRS to narrow BitStamp investigation on the William Zietzke case
  • Bitfinex, Tether faces another class-action lawsuit based on Paradise Paper


  • NatWest, Coadjute launch blockchain consortium for efficient home buying process in UK
  • BNY Mellon joins blockchain consortium Marco Polo for trade finance needs of its clients
  • Crypto exchange Kraken latest to join Silvergate Exchange Network; Deposits, withdrawals at zero commission
  • Klaytn adds major South Korean firms to Governance Council; to launch crypto wallet ‘Klip’ in Q1 2020
  • Blockchain platform Zilliqa partners with Elliptic to enhance security and AML compliance

Digital Currency Initiatives

Blockchain Initiatives

  • Tezos teams up with Singapore government-backed blockchain platform for training initiative in Q1 2020
  • Afghan government to use blockchain to patient data, curb fake drug industry
  • Bavarian government to use blockchain to authenticate documents
  • Thailand to use blockchain technology for production-to-export traceability of organic rice
  • Thailand aims to use blockchain to fight VAT fraud oil exportation industry
  • Thai SEC announces DLT pilot project for corporate bond business
  • BCB Blockchain provides $300,000 support for the Philippines to accelerate startups, create smart cities
  • KPMG rolls out blockchain-based track and trace platform in Australia, China and Japan
  • HSBC to shift $20B worth of paper-based records to blockchain platform 'Digital Vault'
  • HSBC, Oman Oil and Orpic Group complete blockchain-based trade finance transaction in Oman
  • Blockchain-based energy trading platform Power Ledger to launch pilot program in New Delhi
  • Red Cross to create blockchain-backed ‘local currencies’ to promote economic growth to struggling regions

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