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Digital Currency and Blockchain Weekly Round-up – September 21st, 2018

UK lawmakers call for regulation of 'Wild West' crypto market The UK Treasury Committee today published a report in which it has called upon the regulation of the “Wild West” crypto-asset market. The release of the re…

By Shampa Mani
Published

UK lawmakers call for regulation of 'Wild West' crypto market

The UK Treasury Committee today published a report in which it has called upon the regulation of the “Wild West” crypto-asset market. The release of the report follows the launch of an inquiry into digital currencies and distributed ledger technology (DLT) by the Treasury in February this year.

New York Attorney General highlights vulnerabilities of crypto platforms in new report

The New York Office of the Attorney General (OAG) this week published a report on the results of the Virtual Markets Integrity Initiative launched in April 2018. In its report, the OAG said that it has found many platforms vulnerable to abusive trading, conflicts of interest, and other consumer risks.

No plan to issue central bank digital currency, says ECB President Mario Draghi

The European Central Bank (ECB) does not intend to issue central bank-backed digital currency (CBDC), the ECB president Mario Draghi said last week. Draghi attributed the reasons behind this decision to the underlying blockchain technology being still fragile and high use of physical cash in the common currency area, Reuters reported.

CVA welcomes Swiss Bankers Association’s (SBA) new guidelines to encourage blockchain companies

The SBA on Friday published guidelines that are intended to help banks take a differentiated approach to account opening, depending on the nature of the connections that the company has with blockchain technology. It will help provide increased clarity and assurance and remove barriers to the growth of the Swiss blockchain ecosystem.

PBoC urges investors to increase risk awareness on cryptocurrencies and ICOs

The People’s Bank of China (PBoC) has issued fresh notice cautioning people against the risks associated with cryptocurrency trading and initial coin offerings (ICOs), CCN reported. The central bank’s Shanghai branch has now issued a public notice reminding people to enhance their awareness of risk prevention in this area.

South Korean government vows to support domestic blockchain companies

The government of South Korea has pledged its support for domestic blockchain companies to further encourage the booming blockchain industry in the country, Business Korea reported. On Thursday, September 20, Second Vice Minister of Science and ICT Min Won-ki held a meeting with blockchain startups at blockchain startup Blocko’s office in Bundang, Gyeonggi Province.

Abu Dhabi Global Market to launch fintech digital sandbox

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has announced its plans to launch a fintech digital sandbox in a bid to encourage financial innovation in the region. The digital sandbox will help facilitate collaborations between financial institutions (FIs), FinTech innovators, and regulators to develop and test products and solutions in a digital platform environment, supported by regulatory standards developed by the Financial Services Regulatory Authority (FSRA) of ADGM.

Research Studies

  • Cryptomining malware expected to become regular, low-risk revenue stream for cybercriminals: Europol

Conferences/Events

Partnerships/Consortiums

Blockchain and Digital Currency Initiatives

  • Switzerland-based Crypto Valley Venture Capital launches blockchain incubator

  • Upbit operator Dunamu to launch crypto exchange in Singapore, announces new blockchain app developer tool ‘Luniverse’

  • Fidelity likely to make crypto and blockchain-related announcements by the end of 2018, says CEO Abigail Johnson

  • Dutch supermarket chain Albert Heijn brings blockchain to orange juice supply chain management

  • South Korean telecom giant SK Planet seeks to integrate blockchain, signs MOU with ICON Foundation

  • Poland’s largest bank set to roll out blockchain-based system

  • UK port operator ABP seeks to tap blockchain technology to improve port connectivity

  • komgo SA: Banking and trading giants team up to digitize commodities trade finance using blockchain

  • India-based NIIT Technologies announces blockchain solution for airlines

  • Gemalto taps R3’s Corda for blockchain-based digital ID solution

  • Deloitte partners with Singaporean startup to bring blockchain-based data exchange platform to Southeast Asia market

  • BMW partners with Bloom to develop blockchain-based customer lending solution

  • SoftBank, LG U+, TBCASoft and Far EasTone to trial cross-carrier blockchain-based payment platform

  • Indian insurance firm ICICI Prudential Life explores blockchain technology for claim settlement

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