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FATF to move cryptocurrency operators from "dark shadows” as it calls for stronger regulations
The Financial Action Task Force (FATF) will focus on combating money laundering and terrorism financing by strengthening cryptocurrency regulations for its member nations. U.S. Secretary of the Treasury Steven Mnuchin said the new policy will require crypto-asset service providers to follow the usual procedures of traditional institutions in complying with anti-money laundering (AML) and combating the financing of terrorism (CFT) protocols.
IRS in hot pursuit of cryptocurrency tax evaders
The U.S. Internal Revenue Service (IRS) will start auditing taxpayers who own crypto-assets, according to Bloomberg. As per the report, the IRS has established a list of taxpayers who have failed or underreported their earnings from crypto income. Identified U.S. citizens should expect to receive a notice letter in the near future.
SEC to begin bitcoin ETF public discussions
In a recent announcement, the U.S. Securities and Exchange Commission (SEC) is finally scheduling a public discussion of a possible exchange-traded fund (ETF) using bitcoin. This has been something that many traders and SEC Commissioner Hester Peirce have been pushing for.
Bank of International Settlements calls for coordinated regulation on big tech firms Facebook, Google, Amazon
The Bank of International Settlements (BIS) has cautioned that financial services provided by giant companies like Alibaba, Amazon, Facebook, Google, and Tencent could come with new risks for the banking sector as well as some market failures. The report, which was released after Facebook recently announced its cryptocurrency project Libra, warned that these major companies can “rapidly establish a dominant position because of their large user bases.”
Malta to require all rental contracts to be registered on blockchain
The Malta government’s new rent laws will require all property rental contracts to be registered on the blockchain, Malta Today reported, citing the island nation’s Prime Minister Joseph Muscat. According to the report, the new initiative, which will implement distributed ledger technology (DLT), aims to protect contracts from being tampered with and accessed by unauthorized parties.
Facebook to face House and Senate inquiries over Libra
Facebook is no stranger to being called by the House of Congress and the Senate, with this happening several times in the past due to the social network’s controversial activities. This time, Mark Zuckerberg’s company will be facing scrutiny over its Libra crypto venture. Lawmakers from all sides are basically alarmed at the prospect of the biggest social media company in the world having its own cryptocurrency.
Research Studies
- Digital assets benefitting from ongoing regulatory clarification; IEO is the new crypto fundraising instrument: CVA and PwC Strategy& Report
Company News
- Blockchain startup dfuse raises $3.5M, led by Multicoin Capital and Intel Capital
- Blockchain protocol Polkadot sells 500K DOT tokens, claims on track its $1.2B valuation
- Kraken’s lofty promise pushes crowdfunding figure to over $13M
- Blockchain-based smart contract startup Clause secures $5.5M led by Galaxy Digital
- Imgur secures $20M investment from former Ripple Labs CTO's startup Coil
- CoinMarketCap acquires Hashtag Capital to enhance crypto data offering
- Paysend acquires blockchain firm Rapid SD following stablecoin launch
- Reserve Bank of India choking crypto growth, Koinex most recent casualty
- Hackers steal over $4M in crypto from Singaporean exchange Bitrue
- Irish cryptocurrency exchange Bitsane disappears with customers’ funds: Report
- Crypto firm LedgerX obtains CFTC approval for physically-settled derivatives contracts
Partnerships/Consortiums
- New Ripple partnership represents major anti-money laundering move
- Mizuho’s J-Coin Pay app adds 7 participating financial firms
- Global telecom blockchain initiative announced, major carriers launching new platform
Digital Currency and Blockchain Initiatives
- tZERO launches crypto wallet and exchange app; announces trading of second digital security on PRO Securities ATS
- Blockchain media platform PUBLISH announces beta launch of decentralized hot wallet
- Propy completes TechCrunch founder's $1.6M property sale on blockchain
- Crypto startup Orbs to help Trump administration solve Israeli-Palestinian conflict using blockchain
- Square rolls out bitcoin deposits for all Cash App users
- Startup Lolli partners with Hotels.com to reward travelers with bitcoin
- TP ICAP enters crypto business to trade bitcoin futures
- Circle, Coinbase unveils their new CENTRE stablecoin network
- Galaxy Digital to launch crypto options contracts as demand increases
- New Kakao blockchain platform 'Klaytn' set to transform Southeast Asia
- Graph Blockchain secures another blockchain pilot project with Korea Post
- Bofrost Italia selects EY to develop blockchain platform for tracking frozen foods
- EY to utilize Guardtime’s blockchain, Sensyne Health’s AI for outcome-based health payments
- Q2 Solutions, HSBlox, and R3 successfully conduct proof-of-concept blockchain application in clinical research
- Walmart China using blockchain to convince shoppers of food safety
- SWIFT to give blockchain-based firms access to its GPI payments
- Germany's CDU and CSU Union wants to incorporate blockchain in public services
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