Digital Currency and Blockchain Weekly Round-Up – July 26th, 2019

US Senate to hold hearing on cryptocurrency and blockchain regulatory frameworks on July 30
The United States Senate Banking Committee is going to hold a full committee hearing on digital currency and blockchain regulatory frameworks next week. The hearing, entitled “Examining Regulatory Frameworks for Digital Currencies and Blockchain,” will be held on July 30.

New York State Assembly names 6 new appointees for its first-ever crypto task force
The New York State Assembly legislatures have recently appointed six members to join the state’s Digital Currency Task Force. Assemblymember Clyde Vanel revealed in a video announcement that the legislature has selected three chief executives from blockchain startups, two members of industry think tanks, and a regulatory field expert.

New York financial regulators launch new innovation division to regulate, license cryptocurrency businesses
The New York State Department of Financial Services (NYDFS) has launched a new division that will be responsible for regulating and licensing crypto-related businesses. As per a press release, the new Research and Innovation Division will “house the Department’s division responsible for licensing and supervising virtual currencies, and it will assess new efforts to use technology to address financial exclusion.”

Japanese crypto firms demand taxation changes
The Japan Virtual Currency Exchange Association (JVCEA), the country's self-regulatory crypto exchange body, recently sent a letter to authorities to demand tax reforms. The association basically feels that, while regulations have progressed, tax laws remain woefully behind.

Crypto businesses to require BaFin license to operate in Germany
In Germany, crypto firms will soon be required to be licensed by the Federal Financial Supervisory Authority (BaFin) in order to conduct business in the country. Cointelegraph reported that new Anti-Money Laundering (AML) regulations will go into force in Germany next year and require cryptocurrency-related businesses, including exchanges and wallet providers, to be licensed by the regulator.

Indian panel officially submits report and draft bill to government recommending complete cryptocurrency ban
The Indian Department of Economic Affairs (DEA) has officially announced that it has received a report on cryptocurrency regulation submitted the inter-ministerial committee which was set up by the Indian government in 2017. In a press release dated July 22, the DEA said that the inter-ministerial committee has submitted its report along with a draft bill.

FINRA gives companies more chances to comply with crypto data request
The US Financial Industry Regulatory Authority (FINRA) has extended the deadline of its request where member companies will provide data regarding crypto activities that they are involved in. The previous deadline was set for July 31, 2019, but it has now been moved to July 31, 2020.

Company News

Digital Assets Data raises another $3.2M for its crypto data platform
Crypto analytics provider Dapp.com secures $500K funding from FBG Capital, Landscape Capital
Nomura backs blockchain and payments startup Omise Holdings
Crypto trading app Robinhood achieves $7.6B valuation after securing $323M funding
Blockchain energy startup WePower secures strategic equity investment from Japan's Marubeni
US investors Arrington XRP Capital, Arca exploit loophole to buy Bitfinex’s LEO tokens
Workday acquires Trusted Key, plans to move work credentials onto blockchain
Ripple sells $251M in XRP in Q2 but wants to take "more conservative approach" in Q3
Huobi becomes fifth licensed cryptocurrency exchange in Thailand
Circle launches subsidiary in Bermuda, receives full Digital Assets Business Act license
Fundament Group gets approval from German regulator BaFin to launch $280M real estate token
Crypto exchange QuickBit confirms major data leak, likely to affect 300K users
Crypto trading app Robinhood sends out warnings after security blunder
Crypto loan startup YouHodler exposed unencrypted data of 86 million customers, assures no one was affected
Crypto firm FairX closes digital doors due to lack of funding

Partnership/Consortiums

Japanese brokerage firm Monex Group applies to join Facebook’s Libra
Accounting giant KPMG partners with Microsoft, TOMIA, and R3 for blockchain-based telecom solutions

Digital Currency and Blockchain Initiatives

Albertsons Companies’ subsidiary Safeway partners with bitcoin rewards company Lolli
Travelers can soon pay for Norwegian Air tickets with bitcoin
Newegg extends bitcoin payment option to additional countries
PUBG, Refereum partner to bring blockchain and crypto benefits to gaming
Singapore-based Forise International expands to blockchain consulting
Mercedes-Benz' parent company Daimler partners with Riddle & Code to develop crypto hardware wallet for cars
PUC Berhard teams up with Wanchain to tap blockchain potential
HSBC executes first blockchain LC transaction between Korea and Vietnam
Chinese energy provider ENN to trace the natural gas supply chain using VeChainThor blockchain
Swisscom Blockchain launches self-sovereign identity solution Seraph ID on NEO
Sumitomo partners with bitFlyer Blockchain to digitize housing rental contracts
The New York Times to use blockchain to fight fake news
Ping An's OneConnect partners with Union Bank's UBX to launch blockchain-powered financing platform for MSMEs
Utah county to implement blockchain in municipal mobile voting
Republic of San Marino launches blockchain partnership to encourage sustainable ecological behavior
Uganda looks to blockchain in counterfeit drug battle
Kenyan Blockchain and AI taskforce recommends CBK to consider creating digital currency