BTC/USD plummets as OKCoin, Huobi suspend bitcoin withdrawals

Following the People’s Bank of China’s recent warning to domestic bitcoin exchanges, OKCoin and Huobi have announced that they will suspend withdrawals of bitcoin and litecoin for a month, effective immediately, CoinDesk reported. They explained that the decision was taken in order to boost their anti-money laundering (AML) capabilities and prevent illegal transactions.

US state representatives launch Congressional Blockchain Caucus

Two lawmakers and US state representatives Jared Polis and David Schweikert of Colorado and Arizona respectively, have announced that launch of Congressional Blockchain Caucus. The Caucus will focus on the advancement of sound public policy towards blockchain-based technologies as well as digital currencies.

Banque de France testing blockchain, to open lab to work with start-ups – Governor Villeroy de Galhau

France’s central bank is testing blockchain technology and opening a lab to work with startups, François Villeroy de Galhau, Governor of the Banque de France, said. He emphasized on the need to increase innovation and its diffusion for driving growth and competitiveness of an economy. de Galhau believes that the digitalisation of the financial sector can accelerate this process.

Central bank of Philippines issues regulatory framework for digital currency exchanges

Bangko Sentral ng Pilipinas (BSP), the central bank of Philippines, has issued pioneer regulatory framework for digital currency exchanges and similar entities that are operating in the country. The approval of regulatory framework by the Monetary Board (MB) comes as a move to provide an environment that fosters financial innovation as well as making sure that the Philippines shall not be used for money laundering or terrorist financing activities.

Hawaiian legislators propose establishing digital currency and blockchain working group

Two Hawaiian politicians have submitted a bill that proposes setting up of a working group dedicated to digital currency and blockchain technology. According to CoinDesk, Democratic Reps Chris Lee and Mark Nakashima have submitted House Bill 1481 which says that the working group would study the uses of blockchain technology; develop methods of providing education on blockchain technology; and determine and promote best practices for enabling blockchain technology to benefit of the State of Hawaii, local businesses, and residents.

Polish Central Statistical Office officially recognizes bitcoin activities

Poland’s Central Statistical Office has recognized the trading and mining of digital currencies as an official activity, CoinDesk reported. According to the recently published document, companies engaging in digital currency trade and production can apply to obtain an official PKD 64.19.Z registration when filing their entities with the official court register.

Digital Currency/Blockchain research studies:

Entities likely to begin exploring blockchain use for digital reputation in next 18 to 24 months: Deloitte

Blockchain regulations premature at this stage: ESMA

Senior executives see blockchain in everyday use in financial services industry by 2026: Survey

Conferences/ Events:

Russian education center Digital October to conduct ‘Blockchain Weekend’ course on 18-19 Feb

CoinsBank announces second annual Blockchain Cruise 2017

Bitcoin expert Andreas Antonopoulos to keynote at Blockchain Africa Conference 2017

Fintech experts to focus on ICO craze at The Blockchain Event

Important deals, partnerships, and more:

Blockchain firm Coinfirm secures $700k from Luma Ventures in seed funding round

Accenture collaborates with Thales to simplify large-scale commercial blockchain use

Bitfury Group, Government of Georgia partner to expand blockchain land-titling project

Indian bitcoin startups form blockchain and digital currency association

Medici Ventures invests in blockchain firm Factom

Healthcare blockchain firm Hashed Health raises $1.85M in initial funding round

Reinsurance company SCOR tests blockchain PoC, joins B3i consortium

Digital Garage, Blockstream partner to develop blockchain platform for Japanese financial market