• Sun, 17 Nov 2019, 07:07 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Digital Currency and Blockchain Weekly Round-Up – November 8th, 2019

Fri, 08 Nov 2019, 12:07 pm UTC

European Union to create encompassing law for Libra, other stablecoins
Recent reports suggested that the European Union may be looking to create its own central bank digital currency (CBDC). But it appears that the union isn’t preparing for such a thing as it just clarified that the recent draft penned by the Finnish EU presidency is geared towards the regulation of stablecoins. The regulators are trying to create a regulatory framework that would encompass existing stablecoins and its other kin that will be surfacing in the future.

U.K. releases extensive crypto tax guidelines; Rules subject to changes depending on market evolution
Last year, the United Kingdom’s tax agency promised it will provide extensive guidelines for the nascent crypto industry to offer clarity for businesses and corporations dealing with this particular market. Now, Her Majesty’s Revenue & Customs (HMRC) has released the said guidelines for cryptoasset exchange tokens. The explains how crypto businesses should pay for corporate tax, capital gains tax, income tax, national insurance contributions, stamp taxes or VAT.

FCA issues key instructions for crypto businesses ahead of EU’s 5AMLD deadline
UK’s Financial Conduct Authority (FCA) has published key information for cryptoasset-related businesses ahead of the implementation of the European Union’s Fifth Money Laundering Directive (5AMLD) in early 2020, Finextra reported. “From 10 January 2020, we will be the anti-money laundering and counter terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (MLRs),” it said.

People’s Bank of China, Shanghai regulators highlight blockchain’s importance in shipping, financial industry
The People’s Bank of China (PBoC) and the Shanghai commerce commission have just released a statement that supports the development of blockchain technology in the country. The statement highlighted blockchain’s importance in solving problems regarding information asymmetry in trade finance. It also underscores blockchain’s role in addressing the proof of trade authenticity, a problem that the technology can solve through its transparent nature and immutable ledger.

Hong Kong partners with China, Thailand to explore AI, DLT, CBDC initiatives
The Hong Kong Monetary Authority (HKMA) launched a five-day program yesterday, Nov. 6, gathering thousands of people in a bid to push the financial industry forward. Among the projects that have been mentioned is a Proof-of-Concept (PoC) trial that will be connecting the eTradeConnect and the People’s Bank of China Trade Finance Platform. Hong Kong will also be collaborating with Thailand to research the development of a central bank digital currency (CBDC) for cross-border payments.

Hong Kong-based crypto exchanges offering security token trading now required to acquire SFC license
Hong Kong’s watchdog released a position paper on Nov. 6, explaining that crypto trading platforms will be treated similar to traditional brokers if these platforms offer trading in security tokens. Any businesses that fall within this category will be governed by the authority of the Securities and Futures Commission (SFC).

Russia seeks to create legislation that would force cybercriminals to give up stolen crypto assets
Russia’s Ministry of Internal Affairs is looking to create legislation that will allow authorities to force criminals to give up stolen digital assets. The agency has mandated that the proposal on this front should be completed by Dec. 2021, CoinDesk reported citing RBC.

Ukraine government signs MOU with Binance for cryptocurrency regulation
Ukraine is trying to establish rules for cryptocurrencies and has teamed up leading cryptocurrency exchange Binance to achieve this goal. In a press release, Binance announced that it has signed a Memorandum of Understanding (MOU) with Ukraine’s Ministry of Digital Transformation. The aim of the collaboration is to help the country create a regulatory framework that would oversee the evolution of digital assets.

Insights

  • Stablecoins such as Facebook’s Libra could be subject to securities rules: IOSCO
  • North Korea laundered money through a Hong Kong-based blockchain firm: UN

Company News

  • Animoca Brands, ConsenSys back blockchain game developer Sky Mavis’ $1.5M funding round
  • Data storage blockchain protocol Arweave raises $5M in token-based funding
  • Nervos Network to launch mainnet ‘Lina’; secures $72M via token sale
  • Kadena’s public blockchain goes live; Third token sale to begin today
  • eToro announces second deal of 2019 with acquisition of crypto portfolio tracking app Delta
  • SEC greenlights Silvergate Bank’s IPO; Shares valued at $12
  • Tassat moves forward with crypto derivatives launch plan, acquires SEF registration with CFTC
  • Harbor becomes first blockchain company to secure broker-dealer and transfer agent licenses
  • Ripple hits 300 customer milestone amid ongoing XRP securities lawsuit
  • Bittrex gets hit by a lawsuit by angel investor following the hacking of 100 bitcoins in April
  • BitMEX users’ emails leaked following exchange’s blunder
  • Crypto exchange DX.Exchange suspends operations citing high costs

Partnerships/Consortiums

Digital Currency Initiatives

  • Crypto exchange AAX launches service offering trading on spot, future, OTC P2P contract amidst SFC’s new regulation
  • Telegram’s test wallet released on macOS, Windows, Linux 64; Meeting with SEC on Feb. 18, 19
  • MAS-approved fintech firm Xfers to launch SGD stablecoin initiative powered by Zilliqa blockchain
  • Turkey to finish developing digital lira by end of 2020, says President Erdogan
  • PBoC’s Digital Currency Research Institute signs fintech research cooperation agreement with Huawei
  • Microsoft unveils token-minting platform for enterprises

Blockchain Initiatives

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,545.16 (+0.18%)
  • Ethereum (ETH) $182.65 (+0.38%)
  • XRP (XRP) $0.264300 (+0.16%)
  • Bitcoin Cash (BCH) $266.65 (-0.02%)
  • Litecoin (LTC) $58.56 (+0.99%)
  • Bitcoin (BTC) $8,545.16 (+0.18%)
Nov 14, 2019 (Thursday)
12:14
Amun AG launches Tezos ETP on Swiss SIX Exchange; makes available 7 crypto ETPs on Boerse Stuttgart
11:38
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:37
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
10:59
Samsung SDS integrates QEDIT’s private asset transfer solution with Nexledger blockchain
10:46
Crypto Technicals: BTG/USD slips lower to test 4H 200 SMA, break below to see more downside
10:11
ASX-listed firm DigitalX launched new bitcoin fund
09:23
Telegram denies all SEC allegations concerning its gram token and sale
08:23
Crypto Technicals: XMR/USD pauses shy of 110-EMA (67.251), break above to fuel more gains
07:17
AFME calls for a common approach for regulation of crypto-assets in Europe
06:49
Crypto Technicals: XRP/USD edges higher from fresh 3-week lows at 0.2565, bias strongly bearish
06:21
Chinese bitcoin mining giant Canaan seeks to raise $100M in US IPO
05:20
Crypto Technicals: LTC/USD breaks below 21-EMA, eyes 50-DMA at 57.28
05:19
Crypto data provider Messari raises $4M from Uncork Capital, Coinbase Ventures and others
04:35
Crypto wallet startup Bitski secures $1.8M from Winklevoss Capital, Coinbase and others
04:06
Crypto Technicals: BTC/USD confined to narrow range trade, 5-DMA caps upside at 8814
Nov 13, 2019 (Wednesday)
13:19
CME sets January 13 as target date for bitcoin options launch
12:25
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:25
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:17
HSBC, SGX, Temasek explore DLT for end-to-end digitalization of fixed income securities
11:18
Crypto Technicals: LTC/USD trade rangebound, holds support at 21-EMA (60.12)
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft