|   Digital Currency


  |   Digital Currency


Digital Currency and Blockchain Weekly Round-up – July 6th, 2018

US IRS launches joint initiative with other countries to combat cryptocurrency tax fraud

The U.S. Internal Revenue Service (IRS) has launched a joint initiative with its global counterparts to combat transnational tax crime and money laundering. The Joint Chiefs of Global Tax Enforcement, or J5, has brought together the leaders of tax enforcement authorities from Australia, Canada, the Netherlands, the U.K. and the U.S.

South Korea to introduce classification system for domestic blockchain industry

The South Korean government is going to announce this month a classification system for the domestic blockchain industry. The National Statistical Office, the Ministry of Science and Technology, and the Ministry of Information and Communication started working on the classification standards last month. In April, the government had launched a preliminary investigation and in consultation with relevant ministries, it decided to introduce a classification system.

Thailand’s SEC releases regulatory framework for ICO portals and tokens

The Securities and Exchange Commission (SEC) of Thailand has released a regulatory framework on the issuance and sale of digital tokens via Initial Coin Offerings (ICOs) in the country, Bangkok Post reported. In addition, the regulator has also announced the ICO portal process, which will be effective from July 16.

Thai securities companies consider setting up cryptocurrency exchange

Thailand’s Association of Securities Companies (Asco) is looking into the possibility of setting up a cryptocurrency exchange, according to Bangkok Post. The security companies are planning to establish the joint exchange platform with appropriate license from the Thai Securities and Exchange Commission (SEC).

Japan’s FSA refutes reports on changing crypto regulation

Japan’s Financial Services Agency (FSA) has refuted the recent reports from local news outlets on plans to change the legal basis of existing crypto regulations, reported. Impress Corporation has quoted the agency saying that “there was no such fact.”

Over 10 blockchain and crypto asset firms make it to UK FCA’s fourth cohort of regulatory sandbox

The UK Financial Conduct Authority (FCA) has announced the names of the 29 firms that have been selected for the latest cohort of the regulatory sandbox. The objective of the regulatory sandbox is to allow firms to test innovative products, services or business models in a live market environment, while ensuring that appropriate protections are in place.

Zug successfully completes blockchain voting trial

Zug, the “Crypto Valley” of Switzerland, has successfully completed the first blockchain-based voting, according to The blockchain-based municipal voting was conducted from June 25 to July 01. It used the city’s eID system that was introduced in Zug last November.

SITA launches Aviation Blockchain Sandbox, invites industry stakeholders

SITA, the technology provider for the air transport industry, has announced the launch of the Aviation Blockchain Sandbox. The sandbox will be led and managed by SITA Lab, SITA’s technology research team, and will develop in three stages.

Malta approves laws to set up blockchain regulatory framework

The Parliament of Malta has passed three bills that will establish a regulatory framework for distributed ledger technology, commonly known as blockchain, Malta Today reported. The three bills – the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act – have been signed into law.

Research Studies:

Coin miner malware skyrocketed by 629 pct in Q1 2018: McAfee

H1 2018 witnesses three-fold increase in cryptocurrency thefts over whole of 2017: CipherTrace

Over 1,000 dead coins and counting: A number of crypto projects go kaput

Investments/Acquisitions/ Fund-raising:

Republic seeks to tokenize startup investing, raises $12M in latest funding led by Binance Labs and NGC ECO Fund


Telecom blockchain consortium CBSG adds six new members

DAV Foundation joins automotive blockchain consortium ‘MOBI’

Reinsurance giants launch blockchain initiative in China

Microsoft Taiwan partners to launch enterprise blockchain development platform

Indian IT giant Wipro seeks to boost blockchain adoption in energy sector

Digital Currency and Blockchain Initiatives

Swiss stock exchange SIX announces digital asset trading, settlement and custody service

Australia attracts IBM and Huobi for blockchain and cryptocurrency exchange setup

Bittrex, partner to launch new cryptocurrency trading platform

Search giant Baidu to announce “Totem Rewards” and blockchain layout this month

NEM opens blockchain centre in Malaysia

Tech Mahindra to establish blockchain centre within R&D hub ‘Makers Lab’

South Korean telecom giant KT launches blockchain-based web novel platform ‘Blice’

Rakuten considers launching messenger-based cryptocurrency in Russia in 2019 – Report

Netherlands’ Koopman Logistics implements IBM blockchain technology

AI company ObEN donates $1M to Tsinghua University Blockchain Research Center

European banks execute first live trade transactions on blockchain platform

Crypto startup Coinbase’s custodian service for institutional investors goes live

UK’s FSA trials blockchain technology in food sector

BTCC re-launches crypto exchange platform, announces “BTCC token

Russian payments provider Qiwi launches crypto investment bank: Report

Indian think-tank NITI Aayog to trial blockchain for fertilizer subsidy management

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