Digital Currency and Blockchain Weekly Round-Up – May 31st, 2019

World Economic Forum forms blockchain policy council to address governance gaps
The World Economic Forum’s Center for the Fourth Industrial Revolution has formed six councils to work on new technology policy guidance.In its press release, the boards aim to address governance gaps in the areas including autonomous driving, precision medicine, drones, internet of things (IoT), artificial intelligence (AI), and blockchain and the absence of clearly defined rules.

IOSCO seeks consultation on crypto-asset regulation
The International Organization of Securities Commission (IOSCO) is seeking feedback on a consultation paper published on Monday, entitled “Issues, Risks, and Regulatory Considerations Relating to Crypto-Asset Trading Platforms.” IOSCO said it will continue to monitor the crypto-asset trading platforms market to ensure that the identified issues, risks, and key considerations remain relevant and appropriate.

U.S. Members of Congress call upon Presidential Advisor to promote blockchain technology
In a letter to the Director of the National Economic Council (NEC), seven Members of the U.S. Congress have requested to include blockchain technology in Trump Administration’s initiatives on emerging technologies. Led by Congressman Trey Hollingsworth, the letter was supported by the members of the Congressional Blockchain Caucus including Darren Soto, Bill Foster, Tom Emmer, Ted Budd, Josh Gottheimer and David Schweikert.

US State of Montana is now crypto friendly, recognizes utility tokens
The State of Montana has become the recent U.S. state to recognize utility tokens, exempting them from being considered as securities under the local rules. Under the new bill, entitled "Generally Revise Laws Relating to Cryptocurrency," was signed by the Governor of Montana Steve Bullock on May 08. It will go into effect on July 01, 2019.

Australian regulator ASIC updates guidance on crypto-assets and ICOs
The Australian Securities and Investments Commission (ASIC) has published new information to help businesses engaged with initial coin offerings (ICOs) and crypto-assets ensure that they are carrying out their operations in a compliant manner. In a press release dated April 30, the regulator said that it has updated its Information Sheet 225 (INFO 225) Initial coin offerings and crypto-assets, which was first published in September 2017 and had gone through its first update last May.

South Korean government keeps an eye on cryptocurrency market following bitcoin price spike
The South Korean government is keeping a tight watch on the cryptocurrency market again after a pan-governmental meeting was held on Tuesday, according to local broadcasting station KBS World Radio. The meeting, which was presided by the Minister of the Office for Governmental Policy Coordination Noh Hyeong-ouk, was mostly stimulated by Bitcoin (BTC) price's fresh break above 10 million won (~$8,400).

Egypt considers softening cryptocurrency regulation
A proposed bill seeks to impose a ban on the creation, promotion or trading of cryptocurrencies without a license in Egypt, Egypt Independent reported citing a report from the Middle East News Agency (MENA). An official source at the Central Bank of Egypt (CBE) told MENA that the draft bill grants rights the Board of Directors of the central bank to issue rules governing the trading and dealing of cryptocurrencies.

Arrington XRP Capital, Circle and others support Kin’s $5M fund to take on US SEC
The Kin Foundation, which oversees the cryptocurrency developed by the chat platform Kik, has initiated a new campaign to fund a potential legal battle with the United States Securities and Exchange Commission (SEC), Forbes reported. The initiative has already started garnering support from the industry. Backers include Circle, ShapeShift, Arrington XRP Capital, Messari, and Fight for the Future.

Wei Liu claims authorship of bitcoin white paper just to show anyone can register a copyright
Following the copyright registrations for the bitcoin white paper and code filed by Craig Wright in April, another copyright registration for the white paper has been made by Wei Liu, CoinDesk reported. Liu, CEO of crypto market research firm Coinsummer, told CoinDesk that his motive behind filing the registration was to show that “copyright is technically meaningless in this context.”

Research Studies

• EOS retains top spot, Bitcoin climbs to 12th in China's latest cryptocurrency rankings
• Blockchain technology is not a breakthrough: Bundesbank president

Company News

• Blockchain lending startup Bitbond launches Germany’s first regulated STO
• Blockchain-based invoice exchange Crowdz raises $5.5M in Series A funding led by Barclays Bank, Bold Capital Partners
• BIG Blockchain Intelligence Group announces acquisition of crypto firm Netcoins
• Ryan Kavanaugh's Proxima Media secures $100M funding for its Proxicoin security token
• Recruit invests in next-gen blockchain startup COTI
• Crypto trading app Robinhood gears up to raise $200M: Report
• bitFlyer Holdings establishes new blockchain subsidiary in Japan
• Grant Thornton releases first liquidators’ report on Cryptopia cryptocurrency exchange

Partnerships/Consortiums

• Thai banks join hands to create blockchain network via country's Blockchain Community Initiative
• Leading ocean carriers MSC, CMA CGM to join Maersk-IBM's shipping blockchain platform TradeLens
• Kakao Mobility signs MOU with Terra to build blockchain-based mobility business model

Digital Currency and Blockchain Initiatives

• Blockchain firm PLMP Fintech signs multi-million contract with Indonesia to improve its shipping industry
• Coinfloor, Enumis team up to offer crypto-friendly current accounts
• Rakuten teams up with CipherTrace to ensure AML compliance of its crypto exchange
• Blackstone-backed Mphasis teams up with blockchain startup Bitfury on new trade finance project
• Abra introduces feature to allow fractional investments in stocks and ETFs using bitcoin
• Irish banks, Deloitte join forces on blockchain-based platform to manage staff credentials
• Salesforce announces Hyperledger Sawtooth-based blockchain platform
• Bangkok Bank and Commerzbank run international trade transaction on Marco Polo blockchain network
• Swisscom TV to showcase blockchain-based artwork
• Dubai Land Department, Mashreq Bank to develop blockchain-based mortgage platform
• Alibaba to implement blockchain in intellectual property system
• EY builds blockchain platform for wine provenance and tokenization
• Korea's Shinhan Bank launches blockchain-based lending system
• Russian state of Nizhny Novgorod teams up with Vostok to trial blockchain in public administration
• Indian state of Telangana releases draft Blockchain Policy, seeks to attract firms, startups with incentives
• Hyundai-backed Hdac Technology teams up with TODAQ on blockchain research and development
• JPMorgan to add new feature to Quorum blockchain to boost anonymity
• More Indian telecom giants including Vodafone Idea, Jio to deploy blockchain-based anti-spam call tech
• Saudi Arabia's Dammam Port departs first blockchain-powered shipment to Rotterdam
• Luxury watchmaker Vacheron Constantin to use blockchain technology to authenticate timepieces
• State Farm, USAA seek to automate auto claims subrogation process using blockchain
• UK's ARCHANGEL Project to secure national archives with blockchain, AI
• Wharton School of University of Pennsylvania launches online course on blockchain and cryptocurrencies
• Dublin City University to offer Master’s degree in blockchain via new collaboration