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Six central banks team up to explore potential cases for CBDCs
Six major central banking authorities have teamed up with the Bank for International Settlements (BIS) to look into potential cases for central bank digital currency (CBDC). Participating central banks include the Bank of Canada (BoC), the Bank of England (BoE), the Bank of Japan (BoJ), the European Central Bank (ECB), the Sveriges Riksbank and the Swiss National Bank (SNB).
UK revenue and customs agency wants to track crypto-asset transactions
Her Majesty’s Revenue and Customs (HMRC) in the UK is seeking a supplier for a crypto-asset blockchain analysis tool. The agency has recently opened a £100,000 ($130,000) contract to procure a software that will enable it to track and trace cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Tether (USDT), and Litecoin (LTC).
Japan ruling party lawmakers to propose digital yen in February: Report
In the wake of digital currency initiatives from central banks and even corporates, a group of lawmakers of the Japanese ruling party intend to propose the government to consider issuing its own digital currency, Reuters reported. Norihiro Nakayama, parliamentary vice minister for foreign affairs, told the news outlet that this digital currency could be developed in collaboration with private companies.
Central banks of Hong Kong and Thailand complete DLT trial for cross-border funds transfer
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have published a report on the outcomes of a joint Central Bank Digital Currency (CBDC) research project. Called Project Inthanon-LionRock, the project was undertaken by the two authorities to look into the application of CBDC to cross-border payments. It was a follow-up to a Memorandum of Understanding signed between the HKMA and the BOT last May.
Australia's APRA wants to supervise digital wallets like Facebook's Calibra
The Australian Prudential Regulation Authority (APRA) has proposed to the senate that it wants to supervise digital wallets. In a proposal submitted to the Senate Select Committee on fintech and regtech (regulatory technology), APRA said, “Under this proposal, APRA’s role in the framework would be to oversee wallets that are widely used as a means of payment and store significant value for a reasonable amount of time...”
South Korea plans to impose 20% income tax on cryptocurrencies: Report
The finance ministry of South Korea is mulling to impose a 20 percent income tax on cryptocurrency transactions, the officials announced on Monday, The Korea Times reported. The Ministry of Economy and Finance has reportedly ordered its income tax department to review a cryptocurrency taxation plan. This has led to speculations that the government may no longer categorize cryptocurrency trading as capital gains but as other income, the report said.
Turkish City works on a new cryptocurrency to serve citizens better
Konya, a major city in Turkey, is developing a new cryptocurrency to serve its citizens better, Mayor Uğur İbrahim Altay announced this during a local congress in Ankara on Jan. 16, Sputnik Turkey reported. Altay revealed that they are working on blockchain technology and exploring the possibility of issuing a "City Coin."
Insights
- Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
- Deloitte sees Facebook's Libra as “bold new proposition” to create global financial infrastructure
Company News
- Ripple CEO Brad Garlinghouse hints at the possibility of IPO
- Crypto exchange BTCX plans to deliver IPO before Q3 2020
- Crypto exchange Binance invests in blockchain startup Numbers
- Ethereum Classic Labs donates $1 million to UNICEF Innovation
- Square receives U.S. patent for cryptocurrency payment network
- Grayscale Bitcoin Trust becomes SEC reporting company
- ASIC gives micro-investment app Raiz a go signal for Bitcoin fund
- Thai SEC grants license to crypto-fiat trading platform Zipmex
- Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
- Kik technical advisor to appear for deposition in ongoing Kin ICO case with SEC
- 3 executives including founding team members leave SIX Digital Exchange
Partnerships/Consortiums
- Vodafone quits Facebook’s Libra to focus on own digital payment service M-Pesa
- Hyperledger launches community group to leverage blockchain to meet climate goals
- Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
- Mastercard, Standard Chartered and others join Singapore’s blockchain-based TradeTrust network to digitize international trade
Digital Currency Initiatives
- Tether launches new stablecoin backed by physical gold
- Amun lists inverse bitcoin ETP on SIX Swiss Exchange
- Square Crypto makes first major project announcement
- Huobi Group launches its own crypto brokerage platform
- Binance’s global P2P merchant program goes live
- Brave New Coin announces ‘Twitter Sentiment’ data for bitcoin
- SportsCastr to reward viewers with own cryptocurrency 'FanChain'
- Monerium to issue its programmable e-money on Algorand blockchain
- Bank of Lithuania to issue blockchain-based digital collector coins
- World Economic Forum creates framework to help central banks design and deploy CBDC
Blockchain Initiatives
- World Economic Forum launches blockchain-based supply chain traceability platform
- Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
- Four Belgian banks including BNP Paribas, ING to share corporate KYC data using blockchain
- Hacker Noon deploys first blockchain feature after leaving Medium
- MUFG executes first letter of credit transaction on komgo blockchain platform
- Qatar’s Commercial Bank participates in open account trade finance trial on blockchain-powered Marco Polo platform
- Emurgo establishes blockchain task force with Uzbekistan
- Canadian government taps Mavennet for blockchain-based steel tracking platform
- Indian IT minister asks NIC for blockchain-based solution to improve public schools
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