BTC/USD hits all-time high of 1220 on upcoming bitcoin ETF decision

BTC/USD hit an all-time high of 1220 level on Friday. The recent upswing is possibly being driven by the upcoming decision on bitcoin ETF by the US Securities and Exchange Commission (SEC). Traders seem to be largely bullish on the bitcoin ETF getting the approval, CoinDesk reported. The SEC has until March 11 to approve or disapprove the ETF. According to Bloomberg, President Trump’s policy uncertainties might be the reason behind the recent rally. It explains that investors are looking to hedge against potential global uncertainty in the wake of President Trump’s policies and are speculating relaxation of digital currency regulations under his leadership.

West Virginia legislators seek to criminalize bitcoin money laundering

Legislators in West Virginia have introduced a new bill aiming to create criminal offenses relating to money laundering. West Virginia House Bill 2585 has included ‘cryptocurrency’ in its definition of monetary instruments and seeks to make it a felony to launder money using cryptocurrencies such as bitcoin.

Chinese authorities and bitcoin industry call for regulatory alliance

According to latest reports, officials from the People’s Republic of China (PBoC) and other financial authorities last week met with the representatives from leading Chinese bitcoin exchanges to discuss compliance and explore ways in which the latter can comply with the country’s regulations and form a regulatory partnership, Bitcoin.com reported.

Blockchain tech could lower costs, says San Francisco Fed President

Blockchain or distributed ledger technology [DLT] could help lower costs while making record keeping easier and more efficient, San Francisco Federal Reserve President John Williams said recently. Speaking at Boise State University, Williams noted that people are increasingly understanding that digital currencies such as bitcoin would not replace government-issued currencies such as the US dollar, FxStreet reported.

EU lawmakers seek to ban geo-blocking of cryptocurrency users

A European Parliament committee has put forth a new proposal aiming to prevent location-based discrimination against consumers in the common currency area, including users of digital currencies, CoinDesk reported. Penned by the European Union Committee on Internal Market and Consumer Protection, the proposal addresses geo-blocking and other forms of discrimination based on customers’ nationality, place of residence or place of establishment within the internal market.

Ticino plans to launch local cryptocurrency ‘Ticinocoin’

Ticino, a region in southern Switzerland, has revealed its plans to issue its own local digital currency for everyday use. Called “Ticinocoin” (TIC), the future cryptocurrency is a brainchild of computer scientists Claudio Rossini and Michele Fiscalini. The developers have already tested the currency: the pilot phase of the project was completed last week, Tribune de Geneve reported.

Bank of Korea, R3 consortium to carry out blockchain project

The Bank of Korea said it will carry out the Proof-of-Concept project with R3 consortium by using blockchain technology. Kim Jung-hyuk, head of the e-finance planning team at the Bank of Korea's Financial Supervisory Service, said in Digital Money 2017 conference held on the February 20th by EconoTimes and THEblockchain, "As a central bank, we were looking at different ways to utilize the blockchain technology."

Digital Currency/Blockchain research studies:

Necessary to prepare for challenges and opportunities presented by blockchain technology – EU Parliament report

Digital currencies could circulate widely but only with appropriate government regulation: Bank of Canada

Conferences/ Events:

Moscow to host international blockchain conference on February 28

Keynote 2017 World Blockchain Forum to take place in Dubai on March 6

Blockchain for Finance Conference to be held on 20-21 June in Singapore

Important deals, partnerships, and more:

Blockchain startup Storj Labs secures $3M in seed funding

Dash teams up with BlockPay to enable point of sale purchases in over 36 countries

Bitcoin lending platform Bitbond closes equity funding round of $1.2M

Cryptocurrency advocacy group Coin Center secures $1M from new and existing supporters

Wall Street Blockchain Alliance welcomes Blockchain Intelligence Group

Northern Trust, IBM team up to launch blockchain solution for private equity market

German automobile giant Daimler AG joins Hyperledger blockchain project as premier member

Purse.io partners with Swiss bitcoin exchange Bity.com

Mizuho, Cognizant complete blockchain trials in document sharing and digital currency

ING and Société Générale successfully use blockchain prototype for live oil trade