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Digital Currency and Blockchain Weekly Round-up – December 29th, 2017

South Korea moves to curb speculation in cryptocurrency trading

The South Korean government on Thursday announced its plans to impose more regulations to curb speculation in cryptocurrency trading in the country, Reuters reported. The measures to be undertaken by the government include a ban on opening anonymous digital currency accounts and legislation that will enable regulators to close cryptocurrency exchanges if required.

South Korea's FTC investigates 13 cryptocurrency Exchanges

Following the recent bankruptcy announcement by Youbit after a major hack, the South Korean Fair Trade Commission (FTC) said that it is investigating domestic cryptocurrency exchanges for violations of consumer laws. According to a joint press release by a number of South Korean government agencies, the FTC conducted on-site investigation of 13 of the leading cryptocurrency exchanges in the country, ETHNews reported.

Israel Securities Authority to propose ban on bitcoin firms from trading on Tel Aviv Stock Exchange

The Israel Securities Authority (ISA) is going to propose a ban on digital currency-related companies from trading on the Tel Aviv Stock Exchange, according to Reuters. Speaking at the Calcalist business conference, ISA Chairman Shmuel Hauser said that he will bring the proposal to the ISA board next week.

Russia’s Finance Ministry readies draft law on bitcoin regulation

The Russian Ministry of Finance has prepared a draft law on regulation of cryptocurrencies such as bitcoin, TASS reported. "The Ministry of Finance has prepared a draft law, currently under consideration, which will determine the procedure for issuing, taxing, buying and circulation of cryptocurrency,” Finance Minister Anton Siluanov said.

Bank of Israel mulls digital currency issuance

The Bank of Israel is considering issuing a digital currency as it seeks to create a faster payments system and a cashless economy, Reuters reported. A central bank source told the media giant that the government was ready to include the digital currency issuance in the 2019 budget and economic package if the Bank of Israel gave its consent.

Belarus not to tax cryptocurrency-related businesses until January 2023

Belarus has passed new laws in order to encourage the development of cryptocurrency and blockchain-related companies in the country, CoinDesk reported. According to BelTA, Belarus President Alexander Lukashenko last week signed a digital economy development decree that not only legalizes the use of emerging technologies such as blockchain, but also makes provisions for tax incentives to attract more activity in this sector.

Venezuela to launch Petro cryptocurrency very soon

Venezuela will launch its “Petro” cryptocurrency, backed by 5.3 billion barrels of oil, within days, President Nicolas Maduro said recently, according to Reuters.

Indian Finance Ministry cautions against digital currencies

Following the South Korean government’s recent efforts to curb speculation in cryptocurrency trading, the Indian government has also issued a warning on digital currencies. The Ministry of Finance today issued a statement urging people to become aware of the risks involved when engaging in the digital currency space.

Events/Conferences:

LAToken Presents Second Blockchain Economic Forum in Singapore

Investments/Acquisitions/ Fund-raising:

Sirin Labs attracts $157M in ICO for blockchain smartphone and PC

Partnerships/Consortiums:

Blockchain of Things joins Industrial Internet Consortium

Rivetz to work on blockchain-based IoT solutions with IoT Alliance membership

Enterprise Ethereum Alliance launches three working groups

Gibraltar Blockchain Exchange partners with QUOINE cryptocurrency exchange

SBI Ripple Asia announces Credit Card Industry Consortium

Digital Currency and Blockchain Initiatives:

Russia’s NSD details first blockchain-based transaction between MegaFon and Raiffeisenbank

SoftBank builds blockchain solution for personal financial information management

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