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PBoC now targets airdrops in its cryptocurrency crackdown efforts
The People’s Bank of China (PBoC) is now targeting airdrops as part of its efforts to crack down on cryptocurrencies and initial coin offerings (ICOs) in the country, CoinDesk reported. The PBoC has released its financial stability report for 2018 in which it has highlighted the growth in disguised ICOs including airdrops – the free distribution of cryptocurrency tokens or coins.
French lawmakers push for lower crypto tax
The Finance Commission of France’s lower house of parliament, the National Assembly, has backed a plan to cut the tax on bitcoin sales, Reuters reported. The finance commission on Wednesday adopted an amendment to the 2019 budget bill that would reduce the tax on the sale of cryptocurrencies such as bitcoin to 30 percent.
South Korean lawyers urge government to establish cryptocurrency laws
South Korean lawyers urging the government to quickly establish a regulatory framework for cryptocurrencies, Reuters reported. The Korean Bar Association (KBA) is pressing for cryptocurrency laws in the country with the objective of fostering the domestic crypto industry and to protect investors.
South Korean customs officials tap blockchain technology to clear e-commerce goods
South Korea’s Ministry of Science and ICT, in collaboration with the Korea Customs Service (KCS), has announced its plans to build a blockchain-based e-commerce goods customs clearance system. The main goal is to automate the existing system to reduce the inefficiencies in clearing goods purchased through direct buying at overseas online stores, according to Aju Business Daily.
Mauritius Financial Services Commission to issue custodian services licence for digital assets
Mauritius’ Financial Services Commission (FSC) has published a draft on regulatory framework for ‘Custodian Services (Digital Assets) Licence’ and is seeking public feedback on the same. The consultation period will conclude on 30 November 2018.
Switzerland’s FINMA recommends 800 pct risk weighting for bank crypto trading
The Swiss Financial Market Supervisory Authority (FINMA) has issued guidance for banks that engage in cryptocurrency trading, swissinfo.ch reported. When calculating loss-absorbing capital buffers, banks should risk weight crypto assets at eight times their market value, the regulator said in a recently issued letter to EXPERTsuisse, viewed by the news portal.
Taiwan amends AML/CFT law to crack down on anonymous cryptocurrency transactions
The Legislative Yuan, the Taiwan-based unicameral legislature of the Republic of China, has passed amendments to the country’s existing anti-money laundering and terrorism financing prevention laws that regulate cryptocurrency transactions, Focus Taiwan reported.
Research Studies
- New research finds 300 pct increase in blockchain-related jobs
- EU Blockchain Observatory and Forum focuses on tensions between GDPR and blockchain in new report
- PBoC says current bubble in blockchain-based financing is “obvious”
- Over a dozen fraudulent ICOs shut in the past year: US SEC’s Enforcement Report
Fundraising/Investments/Acquisition
- Blockchain startup Bitfury completes $80M private placement
Partnerships/Consortiums
- SIRIN LABS partners to enable Ethereum payments at 1,000 stores in South Korea via blockchain smartphone FINNEY
- Huobi and Gemini seek to bridge crypto communities of East and West
- Port Authority of Valencia joins IBM Maersk blockchain shipping solution “TradeLens”
- 15 banks join testing phase of DTCC’s blockchain project for credit derivatives
- Nippon Wealth, Shinsei Bank collaborate with blockchain startup ConsenSys
Digital Currency and Blockchain Initiatives
- eToro launches cryptocurrency wallet
- BBVA, BNP Paribas and MUFG put $150M syndicated loan agreement on blockchain
- VMware announces new service to provide permissioned blockchain for enterprise consortiums
- HRD Antwerp taps blockchain technology for diamond tracking
- Deloitte, Attest collaborate to build blockchain-based identity management solutions for governments
- China Merchants Bank successfully issues blockchain-based electronic invoice
- MIT-backed startup SendFriend taps Ripple’s xRapid for cross-border payments
- Interswitch, Microsoft launch blockchain-based supply chain financing platform in Nigeria
- Tencent seeks to build blockchain-based supply chain finance platform
- HSBC and ING execute blockchain-based trade finance transaction for Reliance Industries
- Ontario Securities Commission launches educational initiatives on cryptoassets
- South Korean crypto exchange Bithumb partners with Qoo10 to launch payment service
- Crypto exchange Binance launches new analysis division
- Seagate, IBM partner to curb hard drive counterfeiting with blockchain
- ConsenSys’ Kaleido rolls out Blockchain Marketplace for enterprises
- South Korean, Japanese and Chinese postal services sign MoU to co-develop blockchain solution
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