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Digital Currency and Blockchain Weekly Round-Up – August 30th, 2019

FINMA publishes regulatory guidance on blockchain-based payment transactions The Swiss Financial Market Supervisory Authority (FINMA) today published new regulatory guidance for blockchain-based payment transactions. …

By Shampa Mani
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FINMA publishes regulatory guidance on blockchain-based payment transactions

The Swiss Financial Market Supervisory Authority (FINMA) today published new regulatory guidance for blockchain-based payment transactions. In its guidance, FINMA clarifies how it applies Swiss anti-money laundering (AML) rules to financial services providers supervised by it in the area of blockchain technology. The guidance applies to blockchain service providers such as exchanges, wallet providers and trading platforms.

U.K.'s National Liberal Party lashes current crypto policy, recommends new coherent platform

The National Liberal Party (NLP) of the United Kingdom has become the first political party to introduce a coherent forward-looking policy on cryptocurrency, criticizing the government for its failure to introduce a comprehensive crypto regulation and prevent crypto-related frauds.

Australia's top finance cop, FBI conduct joint criminal probe on cryptocurrency

The Australian Securities and Investments Commission (ASIC) and the Federal Bureau of Investigation (FBI) will jointly conduct for the first time an “open criminal investigation” on cryptocurrency products, according to News Corp Australia. The news was confirmed by ASIC Commissioner John Price, who revealed that a “range of people” who are believed to be involved are being targeted.

Central Bank of Brazil classifies cryptocurrencies in line with IMF guidelines

The Central Bank of Brazil (BCB) is moving to classify the buying and selling of crypto-assets according to the guidelines issued by the International Monetary Fund (IMF), Cointelegraph reported. According to the announcement dated August 26, the BCB said that in line with the IMF guidelines, traded cryptocurrencies will now be classified as non-financial products and therefore, will be accounted as goods on its balance sheet.

US lawmaker’s concerns on Facebook's crypto remain unresolved even after meeting with Swiss regulators

The concerns of U.S. lawmakers on Facebook’s proposed cryptocurrency remain unresolved even after their recent meeting with Swiss regulators. Chairwoman of the House of Financial Services Committee Maxine Waters led a group of six members of the committee to meet with Swiss government officials.

PBoC refutes media reports on its cryptocurrency launch plans: Chinese State Media

The People’s Bank of China’s (PBoC) has reportedly refuted recent reports that it was launching a government-backed cryptocurrency in coming months. The Global Times said in a tweet, “Refuting media reports of launching a state-backed cryptocurrency in the coming months, #China's central bank termed them as ‘inaccurate speculation.’”

Venezuela launches national crypto remittance platform “Patria Remesas”

The government of Venezuela has announced that its cryptocurrency-based remittance platform is fully operational. Called “Patria Remesas,” the platform will allow citizens working abroad to send money to Venezuela, Futurism reported.

Research Studies

  • ISIS and other terrorist groups prefer Telegram to raise funds via cryptocurrencies: MEMRI

  • 56 pct of top 50 universities offering blockchain or crypto course: Coinbase Report

Company News

  • Facebook's Libra asks other founding members to speak up and show support

  • EY requests for change in jurisdiction of controversial QuadrigaCX case

  • Chinese insurance giant CPIC backs blockchain insurance startup B3i

  • Algo VC Fund secures $200M from Arrington XRP Capital, NGC Ventures and others

  • Crypto futures exchange CoinFLEX lands $10M funding to offer physical delivery of bitcoin contracts

  • Crypto startup Circle eyes $100M fundraise for its crowdfunding arm SeedInvest

  • tZERO loses investor Makara Capital after CEO Patrick Byrne's resignation

  • Binance offers lifetime VIP membership to hack victims, blames KYC vendor for image leaks

Partnerships/Consortiums

Digital Currency Initiatives

  • Bakkt Warehouse to start accepting bitcoin deposits from September 06

  • Political action committee BitPAC set to launch an ICO to support U.S. congress candidates

  • CoinMarketCap to announce new liquidity ranking system in November: Report

  • Binance to launch crypto lending service on August 28

  • Brave Browser expands token tipping service to Vimeo, Reddit users

  • Brave officially announces Ethereum-focused “Crypto Wallets” feature

  • Coinbase-backed Nomics launches 'Transparent Volume' product for cryptocurrencies

  • Elwood Asset Management seeks to lure institutional investors into crypto space with $1B venture

  • Ethereum Foundation grants $2.46M to crypto developers

  • Securities exchange MERJ teams up with Globacap for security token IPO

  • SBI Holdings subsidiary Morningstar to pay interim shareholder dividend in XRP

Blockchain Initiatives

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