# Digital Currency and Blockchain Weekly Round-Up – June 7th, 2019 By Shampa Mani Canonical URL: https://www.tokenpost.com/news/technology/2146 Published: 2019-06-07T11:33:09.000Z Updated: 2019-06-07T11:33:09.000Z Section: Technology > FSB publishes report on ongoing work to address crypto-asset risks The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a report on crypto-assets focused on … [FSB publishes report on ongoing work to address crypto-asset risks]() The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a report on crypto-assets focused on the ongoing work, regulatory approaches and potential gaps. The report, entitled “Crypto-assets: Work underway, regulatory approaches and potential gaps,” provides an update on the work by a number of international organizations including BCBS, CPMI, IOSCO, FATF, OECD, and the FSB. [EC-supported blockchain initiative INATBA to launch working groups on identity, finance and more]() The International Association for Trusted Blockchain Applications (INATBA) held its first general Assembly meeting on Wednesday, June 05. In a tweet, Dr. Julie Maupin, Director OF Social Impact & Public Regulatory Affairs at IOTA Foundation, announced that INATBA will soon launch its first working groups focused on areas including mobility, energy, supply chain, identity, healthcare, and finance, among others. [EU relaxes access limitations to high-quality blockchain, AI data]() The European Union has relaxed the wealth of information that can be reused as raw material for blockchain- and artificial intelligence-related projects. According to its press release, the new rules aim to boost the EU’s data economy, contribute to the progress of a data-based society, and stimulate growth to open more jobs in the economic sector. [Australia investigates cryptocurrency schemes in international tax evasion crackdown]() The Australian Tax Office (ATO), the country’s tax agency, is reportedly investigating 12 international tax avoidance schemes with cryptocurrency-related activities, The Sydney Morning Herald reported on Thursday. [Japan passes bill to impose stricter cryptocurrency rules]() Japan has revised its laws to bring more clarity and impose stricter controls over cryptocurrencies, CoinDesk reported. The bill, which sought to amend two existing financial laws – the Funds Settlement Act and the Financial Instruments and Exchange Act, has been passed by a majority in the Diet’s upper house, the House of Councilors, Cointelegraph reported citing an update on the FSA’s website. The legislation will come into effect in April 2020. [Japan crypto traders are underreporting $93M worth of income; tax authorities plan crackdown]() Japanese tax authorities are planning to take action against entities underreporting their cryptocurrency-based profits, according to local news outlet Asahi Shimbun. The move will find some 50 traders and 30 firms in Japan that failed to declare cryptocurrency income worth more than 10 billion yen ($92.4 million) over the last few years until March. [Reserve Bank of India denies knowledge of cryptocurrency ban bill]() The Reserve Bank of India (RBI) has denied having any knowledge of a bill that seeks to impose a complete ban on cryptocurrencies in the country, Bitcoin.com reported. The clarification comes as a response to a RTI filed by the team of Blockchain Lawyer, founded by Indian lawyer Varun Sethi, last month. [Brazil sets up cryptocurrency regulations committee]() Rodrigo Maia, the President of the Chamber of Chamber of Deputies of Brazil, has ordered to set up a special commission to deliver an opinion on a bill that aims to regulate cryptocurrencies in the country, Cointelegraph reported. This special committee will comprise of 34 members according to the House Rules of Procedure. [Brazilian Payment System to integrate blockchain-based digital ID platform]() The Brazilian banking system is going to deploy a blockchain-based identity solution powered by Hyperledger Fabric, Cointelegraph reported. Co-developed by IBM and Camara Interbancaira de Pagamentos (or Interbank Payment Clearing House, CIP), the solution will be reportedly integrated into the Brazilian Payment System (SPB). [Vancouver considers banning Bitcoin ATMs to avoid money laundering]() Despite pioneering crypto ATMs in the world, Vancouver’s authorities are turning their backs against the vending machine, saying it is “an ideal money-laundering vehicle,” and its mayor has also suggested a complete ban, The Star reported. [Marshall Islands form development fund to establish its national cryptocurrency SOV]() The Republic of the Marshall Islands (RMI) has created a non-profit organization to help the government establish, maintain, and implement the country’s national digital currency called the sovereign (SOV), according to a press release. The SOV Development Fund aims to develop and maintain the long-term SOV framework, promote SOV and its uses domestically and internationally. Insights - Current blockchain tech implementations need to be replaced by 2021: [Gartner]() - Blockchain tech would have been the key to faster regulatory response in 2008 global financial crisis: [CFTC official]() Company News - Blockchain VC fund [NEM Ventures]() invests in ridesharing initiative Mobi - Bitcoin app [Samourai Wallet]() secures $100K funding as it fully goes open source - EOS blockchain-powered gaming platform [Azarus]() secures $1.8M from Galaxy Digital, Kleiner Perkins - Blockchain voting startup [Voatz]() raises $7M in Series A funding led by Medici Ventures, Techstars - [Blockchains]() acquires the company behind ‘The DAO’ project - Dutch cryptocurrency exchange [Blockport]() declared bankrupt, goes into stealth mode - Polish cryptocurrency exchange [Coinroom]() vanishes with customers’ funds - Cryptocurrency firm [Longfin, CEO]() face another SEC fraud charge - [U.S. SEC sues Kik Interactive]() over $100M ICO, says KIN is a security Partnerships/Consortiums - [UBS-led banking consortium]() advances with blockchain-based settlement project, plans to issue USC token in 2020 - [Walmart]() joins Pfizer and others in blockchain-based pharmaceutical network ‘MediLedger’ Digital Currency and Blockchain Initiatives - [Major European football club]() starts accepting cryptocurrency payments via UTRUST partnership - Russian food retailer [Dixy]() integrates Ethereum blockchain-based financial platform Factorin - [Apple]() to unveil new developer Cryptokit update on WWDC 2019 - Cryptocurrency exchange [Binance]() trials British Pound stablecoin - [OKLink, Prime Trust]() to launch USD-pegged stablecoin USDK - [Perlin Network, ICC]() to establish Center of Future Trade for blockchain adoption in Singapore - [Ethereum-based debt instrument]() to be listed on Bloomberg Terminal - [Malaysia]() registers three cryptocurrency exchanges - [LINE Pay, Visa]() collaborate to offer digital and blockchain-based payment solutions - South Korea Post partners with [Coinplug, NHN]() to apply blockchain tech - [Hydro-Québec]() launches request for proposals for energy allocation to blockchain firms - [SIA, Quant Network]() team up to explore blockchain interoperability - [KODAK]() announces new blockchain-based document management platform - South Korea's [KEPCO]() teams up with local power suppliers to develop blockchain-based renewable energy certificates - Utility company [Veolia]() taps French startup Ledger to upgrade water sensors - Block.one to launch new [social media platform "Voice]()" on EOS blockchain - Waves’ blockchain platform [Vostok launches main network]() - Russia's largest palladium producer [Nornickel and IBM]() to establish blockchain competence center in MIPT - Boehringer Ingelheim partners with Solve.Care for [blockchain-based healthcare network]() for diabetes patients - Think tank Avenir Suisse urges [Switzerland]() to issue own cryptocurrency 'Franc Token' ## Links in this article - [FSB publishes report on ongoing work to address crypto-asset risks](https://tokenpost.com/FSB-publishes-report-on-ongoing-work-to-address-crypto-asset-risks-2067) - [EC-supported blockchain initiative INATBA to launch working groups on identity, finance and more](https://tokenpost.com/EC-supported-blockchain-initiative-INATBA-to-launch-working-groups-on-identity-finance-and-more-2120) - [EU relaxes access limitations to high-quality blockchain, AI data](https://tokenpost.com/EU-relaxes-access-limitations-to-high-quality-blockchain-AI-data-2132) - [Australia investigates cryptocurrency schemes in international tax evasion crackdown](https://tokenpost.com/Australia-investigates-cryptocurrency-schemes-in-international-tax-evasion-crackdown-2131) - [Japan passes bill to impose stricter cryptocurrency rules](https://tokenpost.com/Japan-passes-bill-to-impose-stricter-cryptocurrency-rules-2073) - [Japan crypto traders are underreporting $93M worth of income; tax authorities plan crackdown](https://tokenpost.com/Japan-crypto-traders-are-underreporting-93M-worth-of-income-tax-authorities-to-deploy-agents-to-crack-them-down-2114) - [Reserve Bank of India denies knowledge of cryptocurrency ban bill](https://tokenpost.com/Reserve-Bank-of-India-denies-knowledge-of-cryptocurrency-ban-bill-2129) - [Brazil sets up cryptocurrency regulations committee](https://tokenpost.com/Brazil-sets-up-cryptocurrency-regulations-committee-2068) - [Brazilian Payment System to integrate blockchain-based digital ID platform](https://tokenpost.com/Brazilian-Payment-System-to-integrate-blockchain-based-digital-ID-platform-2084) - [Vancouver considers banning Bitcoin ATMs to avoid money laundering](https://tokenpost.com/Vancouver-considers-banning-Bitcoin-ATMs-to-avoid-money-laundering-2128) - [Marshall Islands form development fund to establish its national cryptocurrency SOV](https://tokenpost.com/Marshall-Islands-form-development-fund-to-establish-its-national-cryptocurrency-SOV-2102) - [Gartner](https://tokenpost.com/Current-blockchain-tech-implementations-need-to-be-replaced-by-2021-Gartner-2086) - [CFTC official](https://tokenpost.com/Blockchain-tech-would-have-been-the-key-to-faster-regulatory-response-in-the-2008-global-financial-crisis-CFTC-official-2097) - [NEM Ventures](https://tokenpost.com/Blockchain-VC-fund-NEM-Ventures-invests-in-ridesharing-initiative-Mobi-2106) - [Samourai Wallet](https://tokenpost.com/Bitcoin-app-Samourai-Wallet-secures-100K-funding-as-it-fully-goes-open-source-2090) - [Azarus](https://tokenpost.com/EOS-blockchain-powered-gaming-platform-Azarus-secures-18M-from-Digital-Galaxy-Kleiner-Perkins-SVK-Crypto-2138) - [Voatz](https://tokenpost.com/Blockchain-based-election-voting-platform-Voatz-raises-7M-in-Series-A-funding-led-by-Medici-Ventures-Techstars-2133) - [Blockchains](https://tokenpost.com/Blockchains-acquires-the-company-behind-The-DAO-project-2094) - [Blockport](https://tokenpost.com/Dutch-cryptocurrency-exchange-Blockport-declared-bankrupt-goes-into-stealth-mode-2105) - [Coinroom](https://tokenpost.com/Polish-cryptocurrency-exchange-Coinroom-vanishes-with-customers-funds-2087) - [Longfin, CEO](https://tokenpost.com/Cryptocurrency-firm-Longfin-CEO-face-another-SEC-fraud-charge-2121) - [U.S. SEC sues Kik Interactive](https://tokenpost.com/SEC-sues-Kik-Interactive-over-100M-ICO-says-KIN-is-a-security-2103) - [UBS-led banking consortium](https://tokenpost.com/UBS-led-banking-consortium-advances-with-blockchain-based-settlement-project-plans-to-issue-USC-token-in-2020-2081) - [Walmart](https://tokenpost.com/Walmart-joins-Pfizer-and-others-in-blockchain-based-pharmaceutical-network-MediLedger-2075) - [Major European football club](https://tokenpost.com/Major-European-football-club-starts-accepting-cryptocurrency-payments-via-UTRUST-partnership-2122) - [Dixy](https://tokenpost.com/Russian-food-retailer-Dixy-integrates-Ethereum-blockchain-based-financial-platform-Factorin-2112) - [Apple](https://tokenpost.com/Apple-to-unveil-new-developer-Cryptokit-update-on-WWDC-2019-2098) - [Binance](https://tokenpost.com/Cryptocurrency-exchange-Binance-trials-British-Pound-stablecoin-2095) - [OKLink, Prime Trust](https://tokenpost.com/OKLink-Prime-Trust-to-launch-USD-pegged-stablecoin-USDK-2083) - [Perlin Network, ICC](https://tokenpost.com/Perlin-Network-the-ICC-to-establish-Center-of-Future-Trade-for-blockchain-adoption-in-Singapore-2080) - [Ethereum-based debt instrument](https://tokenpost.com/Ethereum-based-debt-instrument-to-be-listed-on-Bloomberg-Terminal-2107) - [Malaysia](https://tokenpost.com/Malaysia-registers-three-cryptocurrency-exchanges-2101) - [LINE Pay, Visa](https://tokenpost.com/LINE-Pay-Visa-collaborate-to-offer-digital-and-blockchain-based-payment-solutions-2124) - [Coinplug, NHN](https://tokenpost.com/South-Korea-Post-partners-with-Coinplug-NHN-to-apply-blockchain-tech-2119) - [Hydro-Québec](https://tokenpost.com/Hydro-Qubec-launches-request-for-proposals-for-energy-allocation-to-blockchain-firms-2117) - [SIA, Quant Network](https://tokenpost.com/SIA-Quant-Network-team-up-to-explore-blockchain-interoperability-2116) - [KODAK](https://tokenpost.com/KODAK-announces-new-blockchain-based-document-management-platform-2113) - [KEPCO](https://tokenpost.com/South-Koreas-KEPCO-two-other-local-power-suppliers-to-develop-blockchain-based-renewable-energy-certificates-2104) - [Veolia](https://tokenpost.com/Utility-company-Veolia-taps-French-startup-Ledger-to-upgrade-water-sensors-2088) - [social media platform "Voice](https://tokenpost.com/Blockone-to-launch-new-social-media-platform-Voice-on-EOS-blockchain-2069) - [Vostok launches main network](https://tokenpost.com/Waves-blockchain-platform-Vostok-launches-main-network-2139) - [Nornickel and IBM](https://tokenpost.com/IBM-Russias-largest-palladium-producer-Nornickel-to-establish-blockchain-competence-center-in-MIPT-2135) - [blockchain-based healthcare network](https://tokenpost.com/Boehringer-Ingelheim-partners-with-SolveCare-for-blockchain-based-healthcare-network-for-diabetes-patients-2134) - [Switzerland](https://tokenpost.com/Think-tank-Avenir-Suisse-urges-Switzerland-to-issue-own-cryptocurrency-Franc-Token-2130)