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Digital Currency and Blockchain Weekly Round-up – September 14th, 2018

France creates legal framework for ICOs The French parliament has implemented a legal framework for initial coin offerings (ICOs), French Finance minister Bruno Le Maire confirmed via Twitter. Under the new legislatio…

By Shampa Mani
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France creates legal framework for ICOs

The French parliament has implemented a legal framework for initial coin offerings (ICOs), French Finance minister Bruno Le Maire confirmed via Twitter. Under the new legislation, which was enacted on September 12, businesses seeking to conduct an ICO would need to apply for a visa from the AMF, ICOExaminer reported.

Japan's FSA to add 12 more people to cryptocurrency team

Japan’s Financial Services Agency (FSA) is seeking to expand its team focused on cryptocurrencies and related activities, a senior official was recently quoted saying. Kiyotaka Sasaki, vice commissioner for policy coordination at the FSA, revealed that FSA is planning to increase the headcount by 12 more people for the fiscal year of 2019, adding that the objective is to “strengthen the response to virtual currency exchange operators.”

Australian financial regulator ASIC to develop new rules for cryptocurrency exchanges

The Australian Securities and Investments Commission (ASIC) has revealed its plans to develop new approach for regulating cryptocurrency exchanges and increase monitoring of initial coin offerings (ICOs) in order to protect investors. The regulator last week released its corporate plan for 2018-2022 in which it has outlined its key focus areas including crypto-assets and ICOs.

US judge says ICOs fall under federal securities law in Maksim Zaslavskiy’s case

A federal judge in the U.S. has ruled that a criminal case against two reportedly fraudulent initial coin offerings (ICOs) (conducted by Maksim Zaslavskiy and his two companies – REcoin Group Foundation and DRC World) falls under the scope of the country’s securities laws.

Uzbekistan to establish government-licensed cryptocurrency exchange

The government of Uzbekistan is seeking to establish the country’s first government-approved cryptocurrency exchange. “The Uzbekistan delegates will disclose detailed plans on ‘The Establishment of National Cryptocurrency Exchange and the Development of Digital Economy’ and seek potential partners for future funding,” Kim Chul, Head of Blockchain Real Estate Institute, said in a statement.

South Korean banks seek to bring more crypto traders under real-name system – Report

The government of South Korea introduced the real-name system for cryptocurrency accounts in January this year. In the wake of low conversion rate to the real-name system introduced earlier this year, South Korean banks are now seeking to limit services for customers who are not using the real-name system, Bitcoin.com reported referring to local media sources.

NYDFS approves Gemini and Paxos to offer USD-pegged stablecoin

The New York State Department of Financial Services (NYDFS) has announced that it has authorized Gemini Trust Company and Paxos Trust Company to offer stablecoin, pegged to the U. S. dollar.

R3 blockchain consortium and Ripple Labs reach settlement in XRP token litigation

Ripple Labs, a provider of enterprise blockchain solutions for payments, and XRP II, LLC, have released an official statement on the lawsuit with enterprise software firm R3. “R3 HoldCo LLC, R3 LLC, Ripple Labs Inc. and XRP II, LLC announce that they have reached a settlement of all outstanding litigation between the parties. The terms of the agreement will remain confidential and both sides look forward to putting these disputes behind them,” the statement reads.

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