BoE explores privacy in DLT with regulatory oversight

The Bank of England (BoE) has revealed the details of a proof-of-concept (PoC) which explores how distributed ledgers could be configured to ensure privacy while maintaining a regulatory view of all transactions. The central bank has released a paper on the PoC, conducted in collaboration with blockchain startup Chain.

UK FCA issues statement on regulatory requirements for firms offering cryptocurrency derivatives

The UK Financial Conduct Authority (FCA) has issued an official statement on the requirement for firms offering cryptocurrency derivatives to be authorised. The regulator said that while it does not regulate cryptocurrencies (provided they are not part of other regulated products or services), cryptocurrency derivatives are capable of being “financial instruments” under the Markets in Financial Instruments Directive II (MIFID II).

22 EU member states ink blockchain partnership

The European Commission (EC) has announced that 22 member countries have signed a declaration on the establishment of a European Blockchain Partnership. Signatories include Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, UK.

Australian Taxation Office launches community consultation on cryptocurrencies

The Australian Taxation Office (ATO) has launched a community consultation in order to better understand practical issues faces while ensuring compliance with cryptocurrency tax obligations. “The purpose of this consultation is to seek feedback on practical compliance issues arising from complying with taxation obligations in relation to cryptocurrency transactions,” it said.

Government-backed $1.6B blockchain fund launches in China

The opening ceremony of the Hangzhou Blockchain Industrial Park in China was held on Monday, April 09, which also saw an announcement on the launch of the Xiong’An Global Blockchain Innovation Fund, Bitcoin Magazine reported referring to a report in Sohu. The fund has been jointly funded by the Yuhang District Government, the Future Science and Technology City Administrative Committee, and the Hangzhou Yanqi Investment Management Co.

EEU financial regulators agree to continue cooperation on DLT use

The financial regulators of the member states of the Eurasian Economic Union (EEU) held a Joint Payment Area Working Group meeting to discuss fintech-focused key trends and initiatives in order to develop and promote the services across the region. The participants expressed their willingness to continue cooperation on distributed ledger technology (DLT).

UAE launches Emirates Blockchain Strategy 2021

Vice President and Prime Minister of UAE and Ruler of Dubai Sheikh Mohammad Bin Rashid Al Maktoum today launched the Emirates Blockchain Strategy 2021, Gulf News reported. As part of this initiative, 50 percent of government transactions will adopt blockchain technology over the next three years. This is expected to save Dh11 billion in transactions and documents processed routinely, and 398 million printed documents and 77 million work hours annually.

South African Revenue Service clarifies tax treatment of cryptocurrencies

The South African Revenue Service (SARS) has issued an official statement on the tax treatment of cryptocurrencies in the country. The SARS said that it does not regard cryptocurrencies as a currency for income tax purposes or Capital Gains Tax (CGT), but as “assets of an intangible nature.” In its official release, the agency said that it “will continue to apply normal income tax rules to cryptocurrencies…”

Cloud mining contract falls within purview of ‘securities’: Philippines SEC

Philippines’ Securities and Exchange Commission (SEC) has announced that cloud mining contracts fall under the definition of “securities.” “Applying the Howey Test as discussed by the Honorable Supreme Court…a cloud mining contract is an investment contract falling within the purview of the term “securities” as defined by law,” the SEC clarified.

An inside job? Indian bitcoin exchange Coinsecure announces $3.3M theft

Indian bitcoin exchange startup Coinsecure has announced that 438.318 bitcoins (approximately $3.3 million) have been stolen from its bitcoin wallet. The company said that the said funds have been siphoned off to an address beyond its control. The incident came to light on April 09.

Research Studies:

Japan’s FSA releases cryptocurrency trading status report

Investments/Acquisitions/ Fund-raising:

Crypto portfolio and tax manager CoinTracker secures $1.5M in new funding

Monex Group to acquire crypto exchange Coincheck for 3.6B yen

Partnerships/Consortiums:

Tech Mahindra partners with ChromaWay to bring blockchain technology to India

Five new members join Chamber of Digital Commerce

South Korea’s ShinhanCard inks deal with OmiseGo to explore blockchain possibilities

Blockchain and Digital Currency Initiatives

Banco Santander rolls out blockchain-based international payments service

German consulting firm Camelot develops blockchain solution for medical data management

Australian blockchain startup DigitalX opens crypto fund

Ranieri Solutions, Symbiont partner to explore blockchain opportunities in mortgage industry

IBM and others team up to digitize company registration process using blockchain

Crypto exchange Gemini to launch block trading facility

Crypto startup Coinbase announces venture arm