# Digital Currency and Blockchain Weekly Round-Up – November 8th, 2019 By Shampa Mani Canonical URL: https://www.tokenpost.com/news/technology/4092 Published: 2019-11-08T12:07:35.000Z Updated: 2019-11-08T12:07:35.000Z Section: Technology > European Union to create encompassing law for Libra, other stablecoins Recent reports suggested that the European Union may be looking to create its own central bank digital currency (CBDC). But it appears that the un… [European Union to create encompassing law for Libra, other stablecoins]() Recent reports suggested that the European Union may be looking to create its own central bank digital currency (CBDC). But it appears that the union isn’t preparing for such a thing as it just clarified that the recent draft penned by the Finnish EU presidency is geared towards the regulation of stablecoins. The regulators are trying to create a regulatory framework that would encompass existing stablecoins and its other kin that will be surfacing in the future. [U.K. releases extensive crypto tax guidelines; Rules subject to changes depending on market evolution]() Last year, the United Kingdom’s tax agency promised it will provide extensive guidelines for the nascent crypto industry to offer clarity for businesses and corporations dealing with this particular market. Now, Her Majesty’s Revenue & Customs (HMRC) has released the said guidelines for cryptoasset exchange tokens. The explains how crypto businesses should pay for corporate tax, capital gains tax, income tax, national insurance contributions, stamp taxes or VAT. [FCA issues key instructions for crypto businesses ahead of EU’s 5AMLD deadline]() UK’s Financial Conduct Authority (FCA) has published key information for cryptoasset-related businesses ahead of the implementation of the European Union’s Fifth Money Laundering Directive (5AMLD) in early 2020, Finextra reported. “From 10 January 2020, we will be the anti-money laundering and counter terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (MLRs),” it said. [People’s Bank of China, Shanghai regulators highlight blockchain’s importance in shipping, financial industry]() The People’s Bank of China (PBoC) and the Shanghai commerce commission have just released a statement that supports the development of blockchain technology in the country. The statement highlighted blockchain’s importance in solving problems regarding information asymmetry in trade finance. It also underscores blockchain’s role in addressing the proof of trade authenticity, a problem that the technology can solve through its transparent nature and immutable ledger. [Hong Kong partners with China, Thailand to explore AI, DLT, CBDC initiatives]() The Hong Kong Monetary Authority (HKMA) launched a five-day program yesterday, Nov. 6, gathering thousands of people in a bid to push the financial industry forward. Among the projects that have been mentioned is a Proof-of-Concept (PoC) trial that will be connecting the eTradeConnect and the People’s Bank of China Trade Finance Platform. Hong Kong will also be collaborating with Thailand to research the development of a central bank digital currency (CBDC) for cross-border payments. [Hong Kong-based crypto exchanges offering security token trading now required to acquire SFC license]() Hong Kong’s watchdog released a position paper on Nov. 6, explaining that crypto trading platforms will be treated similar to traditional brokers if these platforms offer trading in security tokens. Any businesses that fall within this category will be governed by the authority of the Securities and Futures Commission (SFC). [Russia seeks to create legislation that would force cybercriminals to give up stolen crypto assets]() Russia’s Ministry of Internal Affairs is looking to create legislation that will allow authorities to force criminals to give up stolen digital assets. The agency has mandated that the proposal on this front should be completed by Dec. 2021, [CoinDesk]() reported citing RBC. [Ukraine government signs MOU with Binance for cryptocurrency regulation]() Ukraine is trying to establish rules for cryptocurrencies and has teamed up leading cryptocurrency exchange Binance to achieve this goal. In a press release, Binance announced that it has signed a Memorandum of Understanding (MOU) with Ukraine’s Ministry of Digital Transformation. The aim of the collaboration is to help the country create a regulatory framework that would oversee the evolution of digital assets. Insights - Stablecoins such as Facebook’s Libra could be subject to securities rules: [IOSCO]() - North Korea laundered money through a Hong Kong-based blockchain firm: [UN]() Company News - Animoca Brands, ConsenSys back blockchain game developer [Sky Mavis’ $1.5M funding round]() - Data storage blockchain protocol [Arweave]() raises $5M in token-based funding - [Nervos Network]() to launch mainnet ‘Lina’; secures $72M via token sale - [Kadena’s]() public blockchain goes live; Third token sale to begin today - [eToro]() announces second deal of 2019 with acquisition of crypto portfolio tracking app Delta - SEC greenlights [Silvergate Bank’s IPO](); Shares valued at $12 - [Tassat]() moves forward with crypto derivatives launch plan, acquires SEF registration with CFTC - [Harbor]() becomes first blockchain company to secure broker-dealer and transfer agent licenses - [Ripple]() hits 300 customer milestone amid ongoing XRP securities lawsuit - [Bittrex]() gets hit by a lawsuit by angel investor following the hacking of 100 bitcoins in April - BitMEX users’ [emails leaked]() following exchange’s blunder - Crypto exchange [DX.Exchange]() suspends operations citing high costs Partnerships/Consortiums - [Enterprise Ethereum Alliance]() welcomes Standard Chartered as new member - [Shanghai forms blockchain alliance]() to streamline customs agency’s operation - MUFG-led consortium to focus on [security token research]() Digital Currency Initiatives - Crypto exchange [AAX]() launches service offering trading on spot, future, OTC P2P contract amidst SFC’s new regulation - [Telegram’s]() test wallet released on macOS, Windows, Linux 64; Meeting with SEC on Feb. 18, 19 - MAS-approved fintech firm [Xfers]() to launch SGD stablecoin initiative powered by Zilliqa blockchain - [Turkey]() to finish developing digital lira by end of 2020, says President Erdogan - [PBoC’s Digital Currency Research Institute]() signs fintech research cooperation agreement with Huawei - [Microsoft]() unveils token-minting platform for enterprises Blockchain Initiatives - [Bithumb]() seeks Indian partners for recently launched blockchain platform ‘Bithumb Chain’ - [Microsoft Innovation Center, æternity]() team up to foster Malta’s blockchain ecosystem - [Webjet]() launches travel booking verification blockchain ‘Rezchain’ - [DBS, Trafigura]() team up to build open-sourced blockchain trade platform - IBM-led blockchain project for [ethically sourced minerals]() eyes spring 2020 for launch - Coca Cola’s bottlers tap [SAP blockchain]() for supply chain management - MAS approves [BondEvalue]() to test blockchain-based bond exchange in fintech sandbox - [Maltese government agency]() signs up as the first partner for T-Systems Blockchain Ecosystem - [U.S. Customs and Border Protection]() looks to blockchain to track oil imports - [Azerbaijan]() to complete blockchain-based ID system by 2019’s end - [China]() rolls out blockchain-based identification system for smart cities Detect languageAfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu AfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu Text-to-speech function is limited to 200 characters Options : History : Feedback : [Donate]() Close [TokenPost]() | info@tokenpost.com ## Links in this article - [European Union to create encompassing law for Libra, other stablecoins](https://tokenpost.com/European-Union-to-create-encompassing-law-for-Libra-other-stablecoins-4062) - [U.K. releases extensive crypto tax guidelines; Rules subject to changes depending on market evolution](https://tokenpost.com/UK-released-extensive-crypto-tax-guidelines-Rules-subject-to-changes-depending-on-market-evolution-4013) - [FCA issues key instructions for crypto businesses ahead of EU’s 5AMLD deadline](https://tokenpost.com/FCA-issues-key-instructions-for-cryptoasset-businesses-ahead-of-EUs-5AMLD-deadline-4000) - [People’s Bank of China, Shanghai regulators highlight blockchain’s importance in shipping, financial industry](https://tokenpost.com/Peoples-Bank-of-China-Shanghai-regulators-highlights-blockchains-importance-on-shipping-financial-industry-4073) - [Hong Kong partners with China, Thailand to explore AI, DLT, CBDC initiatives](https://tokenpost.com/Hong-Kong-partners-with-China-Thailand-to-explore-AI-DLT-CBDC-initiatives-4054) - [Hong Kong-based crypto exchanges offering security token trading now required to acquire SFC license](https://tokenpost.com/Hong-Kong-based-crypto-exchanges-dealing-with-future-products-now-required-to-acquire-SFC-license-4053) - [Russia seeks to create legislation that would force cybercriminals to give up stolen crypto assets](https://tokenpost.com/Russia-seeks-to-create-legislation-that-would-force-cybercriminals-to-give-up-stolen-crypto-assets-4085) - [CoinDesk](http://www.coindesk.com/russia-wants-to-be-able-to-seize-cybercriminals-bitcoin) - [Ukraine government signs MOU with Binance for cryptocurrency regulation](https://tokenpost.com/Binance-CEO-says-Ukraine-creating-a-sound-crypto-regulatory-framework-can-accelerate-the-countrys-economic-growth-4065) - [IOSCO](https://tokenpost.com/Stablecoins-such-as-Facebooks-Libra-could-be-subject-to-securities-rules-IOSCO-4017) - [UN](https://tokenpost.com/North-Korea-laundered-money-through-a-Hong-Kong-based-blockchain-firm-UN-4052) - [Sky Mavis’ $1.5M funding round](https://tokenpost.com/Animoca-Brands-ConsenSys-back-blockchain-game-developer-Sky-Mavis-15M-funding-round-4075) - [Arweave](https://tokenpost.com/Data-storage-blockchain-protocol-Arweave-raises-5M-in-token-based-funding-4040) - [Nervos Network](https://tokenpost.com/Nervos-Network-to-launch-mainnet-Lina-secures-72M-via-token-sale-4066) - [Kadena’s](https://tokenpost.com/Kadenas-public-blockchain-goes-live-Third-token-sale-to-begin-today-4020) - [eToro](https://tokenpost.com/eToro-announces-second-deal-of-2019-with-acquisition-of-crypto-portfolio-tracking-app-Delta-4058) - [Silvergate Bank’s IPO](https://tokenpost.com/SEC-greenlights-Silvergate-Banks-IPO-Shares-valued-at-12-4084) - [Tassat](https://tokenpost.com/Tassat-moves-forward-with-crypto-derivatives-launch-plan-acquires-SEF-registration-with-CFTC-4077) - [Harbor](https://tokenpost.com/Harbor-becomes-first-blockchain-company-to-secure-broker-dealer-and-transfer-agent-licenses-4007) - [Ripple](https://tokenpost.com/Ripple-hits-300-customer-milestone-amid-ongoing-XRP-securities-lawsuit-4070) - [Bittrex](https://tokenpost.com/Bittrex-gets-hit-by-a-lawsuit-by-angel-investor-following-the-hacking-of-100-bitcoins-back-in-April-4015) - [emails leaked](https://tokenpost.com/BitMEX-users-emails-leaked-following-exchanges-blunder-Incorrect-usage-of-email-tool-apparently-the-culprit-4004) - [DX.Exchange](https://tokenpost.com/Crypto-exchange-DXExchange-suspends-operations-citing-high-costs-4014) - [Enterprise Ethereum Alliance](https://tokenpost.com/Enterprise-Ethereum-Alliance-welcomes-Standard-Chartered-as-new-member-4089) - [Shanghai forms blockchain alliance](https://tokenpost.com/Shanghai-government-to-streamline-customs-agencys-operation-through-blockchain-technology-4082) - [security token research](https://tokenpost.com/MUFG-led-consortium-to-focus-on-security-token-research-4063) - [AAX](https://tokenpost.com/AAX-launches-service-offering-trading-on-spot-future-OTC-P2P-contract-amidst-SFCs-release-of-new-regulation-4079) - [Telegram’s](https://tokenpost.com/Telegrams-test-wallet-released-on-macOS-Windows-Linux-64-To-meet-with-the-SEC-on-Feb-18-19-3997) - [Xfers](https://tokenpost.com/MAS-approved-fintech-firm-Xfers-to-launch-SGD-stablecoin-initiative-powered-by-Zilliqa-blockchain-4057) - [Turkey](https://tokenpost.com/Turkey-to-finish-developing-digital-lira-by-end-of-2020-in-an-attempt-to-bolster-economic-foundations-4033) - [PBoC’s Digital Currency Research Institute](https://tokenpost.com/PBoCs-Digital-Currency-Research-Institute-signs-fintech-research-cooperation-agreement-with-Huawei-4029) - [Microsoft](https://tokenpost.com/Microsoft-developing-token-minting-platform-that-aims-to-bring-big-players-under-one-umbrella-4021) - [Bithumb](https://tokenpost.com/Bithumb-seeks-Indian-partners-for-recently-launched-blockchain-platform-Bithumb-Chain-4083) - [Microsoft Innovation Center, æternity](https://tokenpost.com/Microsoft-Innovation-Center-ternity-team-up-to-foster-Maltas-blockchain-ecosystem-4003) - [Webjet](https://tokenpost.com/Webjet-launches-travel-booking-verification-blockchain-Rezchain-4080) - [DBS, Trafigura](https://tokenpost.com/DBS-Trafigura-team-up-to-build-open-sourced-blockchain-trade-platform-4068) - [ethically sourced minerals](https://tokenpost.com/IBM-led-blockchain-project-for-ethically-sourced-minerals-eyes-spring-2020-for-launch-4051) - [SAP blockchain](https://tokenpost.com/Coca-Colas-bottlers-tap-SAP-blockchain-for-supply-chain-management-4027) - [BondEvalue](https://tokenpost.com/MAS-approves-BondEvalue-to-test-blockchain-based-bond-exchange-in-fintech-sandbox-4011) - [Maltese government agency](https://tokenpost.com/Maltese-government-agency-signs-up-as-the-first-partner-for-T-Systems-Blockchain-Ecosystem-4008) - [U.S. Customs and Border Protection](https://tokenpost.com/US-Customs-and-Border-Protection-looks-to-blockchain-to-track-oil-imports-4087) - [Azerbaijan](https://tokenpost.com/Azerbaijan-to-complete-blockchain-based-ID-system-by-2019s-end-To-accelerate-transfer-of-personal-data-to-credit-firms-4055) - [China](https://tokenpost.com/China-rolls-out-blockchain-based-identification-system-for-smart-cities-4006) - [Donate](https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=GD9D8CPW8HFA2) - [TokenPost](https://www.tokenpost.com)