Digital Currency and Blockchain Weekly Round-Up – December 7th, 2018

G20 leaders reiterate commitment to regulate crypto assets
At the recently held G20 meeting in Buenos Aires, world leaders have reiterated their commitment to regulate crypto-assets. The G20 Leaders’ Summit ended on December 01 with a joint declaration on “Building consensus for fair and sustainable development.” The leaders pledged their support to build an open and resilient financial system in compliance with agreed international standards.

US lawmakers seek to prevent crypto price manipulation
Two U.S. congressmen from Florida and North Carolina have introduced bipartisan bills that aim to prevent cryptocurrency price manipulation. Congressman Darren Soto and Ted Budd have introduced the bills that direct the Commodity Futures Trading Commission (CFTC) and other financial regulators to make recommendations for how to improve the crypto regulatory environment for both consumers and businesses.

U.S. Department of Homeland Security interested in tracking privacy-focused cryptocurrencies
The U.S. Department of Homeland Security (DHS) is interested in applications of blockchain forensic analytics, a new pre-solicitation notice has revealed. The pre-solicitation notice has been published by the DHS Small Business Innovation Research Program.

U.S. Department of Homeland Security seeks anti-forgery blockchain solutions
The U.S. Department of Homeland Security (DHS) is interested in blockchain solutions that would enhance anti-forgery and counterfeiting capabilities for digital documentation. On these lines, the DHS Science and Technology Directorate (S&T) is seeking innovative solutions from blockchain startups through a new solicitation, “Preventing Forgery and Counterfeiting of Certificates and Licenses,” under S&T’s Silicon Valley Innovation Program (SVIP).

Seven EU member states sign declaration to foster blockchain use
Seven southern EU member states have signed a declaration to foster the use of distributed ledger technology (DLT) beyond cryptocurrencies, The Financial Times reported. On Tuesday, the group, called the “Mediterranean seven,” comprising of France, Italy, Spain, Malta, Cyprus, Portugal and Spain, signed the declaration to promote DLT, which, the governments believe, can be a “game changer” to boost the efficiency of southern EU economies.

Japan’s Financial Services Agency plans new ICO regulations to protect investors
Japan’s Financial Services Agency (FSA) is going to implement new Initial Coin Offering (ICO) regulations in a bid to protect investor interests, Cointelegraph reported referring to a report from Jiji Press. Taking note of the growing number of fraudulent ICO cases overseas, the regulator is planning to limit individuals' investment in ICOs to better protect them.

Swiss regulator FINMA publishes guidelines for relaxed FinTech Licence
The Swiss Financial Market Supervisory Authority FINMA on Monday published the guidelines for FinTech Licence, a licence introduced by the Swiss parliament with relaxed requirements. During its meeting on 30 November 2018, the Federal Council brought into force a corresponding amendment to the Banking Act to promote fintech innovation.

South Korean authorities consider cryptocurrency and ICO tax
Financial authorities in South Korea are considering imposing cryptocurrency tax, Finance Magnates reported referring local news reports. In response to a question by a member of South Korea’s Democratic Party, the country’s Minister of Economy and Finance, Hong Nam-ki, said that authorities are planning a cryptocurrency tax and are determining how to implement it.

Thai Revenue Department taps blockchain technology to fight VAT refund fraud
Thailand’s Revenue Department is trialing blockchain technology to track value-added tax (VAT) payments, Bangkok Post reported. The test is being conducted in the department’s innovation lab. Director-general Ekniti Nitithanprapas said that the trial aims to prevent VAT refund fraud by using blockchain technology.

Malaysian central bank and securities regulator issue joint statement on crypto and ICO regulation
Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) today issued a joint statement on the regulation of digital assets in the country. The central bank and the SC said that the joint press release is aimed at providing clarity on the regulatory approach for the offering and trading of crypto assets in Malaysia.

Ripple, NEM, Cardano and Fetch.AI launch “blockchain for Europe” association
Four major names in the blockchain space have teamed up to establish a new association which represents blockchain originating organisations in Europe. EMURGO/Cardano, Fetch.AI, NEM and Ripple have come together to launch “Blockchain for Europe” association. They aim to create a “unified voice” for the blockchain industry at European level.

Funding/Investments/Acquisitions

• Bitmain, Fidelity Investments and others back crypto trading platform ErisX’s Series B round
• Medici Ventures acquires 10 percent stake in blockchain agriculture startup GrainChain
• Blockchain-based AR platform Scanetchain attracts investment from Hillstone Partners
• Two Sigma Ventures, ConsenSys back crypto startup Trustology’s $8M seed funding round
• Canadian crypto exchange Coinsquare acquires crypto wallet startup BlockEQ

Consortium News

• R3’s newly launched universal settler application “Corda Settler” adds XRP as first settlement mechanism
• IPC Systems partners with R3 to support Corda blockchain networks on Connexus Cloud
• French corporates trial R3’s Corda blockchain platform-based KYC solution
• SBI Holdings, R3 to establish joint venture to promote Corda blockchain platform in Asia
• Hyperledger blockchain project unveils new tool ‘Ursa’
• Universal Protocol Alliance, Cred join Blockchain Advocacy Coalition as board members
• Italian interbank blockchain project progresses to the next phase

Digital Currency and Blockchain Initiatives

• Bitwise launches beta funds for bitcoin and ethereum
• NYDFS approves Signature Bank’s blockchain-based payments platform ‘Signet’
• Mining giant Bitmain launches cryptocurrency price index
• Swisscom, Swiss Post team up to build Swiss blockchain infrastructure
• Abu Dhabi Global Market successfully trials blockchain-based e-KYC solution
• Four European banks execute live commercial paper transaction via Corda blockchain platform
• Russian and Japanese fintech associations sign MOU to exchange blockchain expertise
• French retail behemoth Auchan to rollout blockchain-based food traceability solution in five countries
• Itaú Unibanco, Standard Chartered launch blockchain platform for club loans in Latin America
• Funds network Calastone to switch to blockchain-enabled infrastructure in May 2019
• DowDuPont subsidiary Granular partners with blockchain CO2 removal project Nori
• Sberbank, Interros Group conclude repo deal using blockchain technology
• Microsoft Japan, LayerX partner to foster blockchain adoption
• Gazprombank to develop cryptocurrency service with Avaloq and Metaco