Bithumb claims recovery of $14M in hacked cryptocurrencies

South Korea’s cryptocurrency exchange Bithumb has claimed that it was able to significantly reduce the damages resulting from the recent hack on its platform, CoinDesk reported. In the latest update on the matter, Bithumb said that the losses have been reduced to 19 billion won (from 35 million won) after it collaborated with its global counterparts to retrieve some of the lost funds.

UN agency partners with blockchain-based image verification platform Truepic

The United Nations Capital Development Fund (UNCDF) is teaming up with Truepic, a California-based image authentication platform. With this partnership, the UN agency seeks to use a new photo verification technology to support its development projects in some of the world’s poorest and most remote regions. The objective is to streamline and lower the monitoring, verification, and auditing costs of its projects.

Canada’s IIROC establishes working group to draft regulatory proposals on blockchain and cryptocurrencies

The Investment Industry Regulatory Organization of Canada (IIROC) has set up a working group to develop a potential regulatory response to blockchain technology and digital assets. The IIROC is a national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. It set out its priorities for 2019 in a new notice dated June 25.

Newly formed working group to assist Swiss blockchain firms open bank accounts

A working group has been set up in Switzerland in order to help blockchain companies open bank accounts, CoinTelegraph reported referring to a report from local news source cash.ch. The Financial Director of Zug, Heinz Tännler, noted that blockchain companies could consider shifting their base abroad due to the difficulties they face to open bank accounts in the region. On these lines, a working group led by the Swiss Bankers Association (SBA) has been set up on behalf of Federal Council Ueli Maurer.

Abu Dhabi Global Market launches crypto asset regulatory framework

Abu Dhabi Global Market (ADGM) has released its regulatory framework for spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM. The framework will address the full range of risks associated with crypto asset activities, including risks relating to money laundering and financial crime, consumer protection, technology governance, custody and exchange operations.

Crypto industry welcomes Facebook’s crypto ad ban reversal, hopes other platforms to follow suit

Social networking giant Facebook is reversing its blanket ban on advertisements relating to cryptocurrencies. Earlier this year, Facebook announced a new policy to prohibit promotional activities on initial coin offerings (ICOs) and cryptocurrency. According to latest reports, the company has revised the policy – allowing cryptocurrency ads on its platform, which the ban on ICO ads still stands.

Events/Conferences:

Blockchain Open Forum 2018: An effort to look at blockchain’s journey towards decentralized and tokenized future

Research Studies:

PwC Strategy&, Crypto Valley Association release second quarterly global ICO report

Central bank digital currencies could pave the way for more stable financial system: EU report

ING Survey: Cryptocurrency investment riskier than stock market, real estate, government bonds, cash

70 pct of capital markets IT providers working on blockchain pilots: Nasdaq-Celent Report

High net worth individuals cautiously interested in holding cryptocurrencies: Report

Investments/Acquisitions/ Fund-raising:

Michael Novogratz’s Galaxy Digital leads $35M series D round of blockchain VR platform High Fidelity

Crypto startup Uphold to acquire JNK Securities, seeks to launch securities division

Blockchain startup Conio secures $3M in latest funding

Partnerships/Consortiums:

39 firms complete KYC trial on R3’s Corda blockchain platform

JD.com, Lenovo and others join Hyperledger blockchain project

India’s Kotak Mahindra Bank joins Ripple’s blockchain network

Digital Currency and Blockchain Initiatives

Messaging giant LINE to launch cryptocurrency exchange “BITBOX” in July

F1 racing driver Fernando Alonso taps blockchain platform KODAKOne for image protection

Bitcoin wallet startup Blockchain rolls out institutional platform

Indian government-backed NPTEL teams up with IBM to offer blockchain course

Food Trust: A new Walmart-led blockchain initiative for food supply chain

Luxoft integrates identity management applications on R3’s Corda blockchain platform

Sri Lanka’s Sampath Bank rolls out blockchain-based gifting mobile app

Spanish National Securities Market Commission completes blockchain trial to register warrant issuance

Andreessen Horowitz launches $300M crypto fund

AlipayHK, GCash roll out blockchain-powered cross-border remittance service