|   Digital Currency


  |   Digital Currency


Digital Currency and Blockchain Weekly Round-up – February 3rd, 2017

European Commission mulls introducing transaction limits on cryptocurrencies

The European Commission has published an impact assessment that proposes an introduction of a restriction of cash payments to reinforce the EU framework on the prevention of terrorism financing. It further said that such an initiative would be complementary to the specific actions addressed by the review of the AML Directive targeting risks posed, among other things, by virtual currencies and prepaid instruments when they are used anonymously.

Reserve Bank of India cautions users against bitcoin

The Reserve Bank of India (RBI) has issued a fresh notice to the users of virtual currencies in the country, urging them to exercise high caution when engaging in digital currency-related activities. It said, ““The Reserve Bank of India advises that it has not given any licence/authorisation to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with Virtual Currencies will be doing so at their own risk”.

UAE central bank says new regulations do not apply to bitcoin or other cryptocurrencies

Last month, the central bank published “Regulatory Framework For Stored Values and Electronic Payment Systems”, effective 01 January 2017, which said, “All Virtual Currencies (and any transactions thereof) are prohibited”. However, in a recent statement sent to Gulf News, central bank governor Mubarak Al Mansouri said that the regulations do not apply to virtual currencies such as bitcoin.

National Bank of Abu Dhabi uses Ripple’s blockchain for real-time cross border payments

The National Bank of Abu Dhabi (NBAD) has announced that it has become the first bank in the Middle East and North Africa (MENA) region to introduce real-time cross border payments on blockchain technology. Powered by Ripple’s blockchain technology, NBAD said that the new channel aims to facilitate regional customers with simple, real time and secure way to process their cross border payments within its network.

Liverpool digital currency grows to over 3,000 users within few days of launch

Colu, a Tel Aviv-based technology company, has launched a localized digital currency in the United Kingdom – the Liverpool Pound (LLP), The Telegraph reported. Colu decided to expand to Liverpool after Independent Liverpool, an organisation that champions small businesses, contacted it for the project. Launched just a month ago, the Liverpool Local Pound already has over 3,000 users.

Deutsche Bundesbank reveals details of preliminary prototype for blockchain-based settlement

The German central Bank has revealed the details of a preliminary prototype for blockchain-based settlement, which it developed in collaboration with Deutsche Börse. Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank, said that using blockchain technology the prototype can settle payments, transfer securities, process basic delivery-versus-payment transactions where securities purchases are settled and paid for simultaneously, and process basic corporate actions, such as coupon payments on bonds and redemptions of maturing securities.

Digital Currency/Blockchain research studies:

Digital currencies could change payments landscape if adopted by central banks: U.S. Fed report

Conferences/ Events:

Executives from Hyperledger, Overstock, DTCC to keynote at ‘Distributed: Markets Blockchain Conference

Blockchain Intelligence Group joins Offset Symposium’s list of sponsors

Accenture signs up as title sponsor for DC Blockchain Summit 2017

Important deals, partnerships, and more:

Cambridge Blockchain raises $2m for digital identity enterprise software

Irish Funds, Deloitte partner to build blockchain PoC for regulatory reporting

Chamber of Digital Commerce welcomes Accenture, CME Group and TMX Group as members

Daimler Financial Services acquires bitcoin solutions provider PayCash Europe

Tech giant Microsoft, Tierion collaborate on blockchain-based attestations and proofs

CoinDesk acquires blockchain data and research platform Lawnmower

Bitcoin startup BitPesa raises $2.5m in Series A round

Blockchain Alliance welcomes Blockchain Intelligence Group

American Express joins Hyperledger blockchain project as premier member

BNY Mellon, Cisco and others team up with startups for blockchain consortium

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