Chinese authorities to stop trading of cryptocurrencies with RMB - Report

Following the recent ICO ban imposed in China, reports suggest that authorities are now moving to stop the exchange of digital currencies for fiat currency in the country. On September 8, 2017, local news source Caixin last week stated (Google translated): “The supervisory authority has decided to close the exchange of virtual currency in China...” The authorities believe that digital currencies could facilitate illegal fundraising and other types of illegal financial activities.

BTCChina to stop all trading by month end, bitcoin price plummets to near $3,200

Leading Chinese bitcoin exchange BTCChina has announced that it will stop all trading on BTCChina Exchange, effective September 30, 2017. BTCChina’s announcement drove the bitcoin price to below the $3,500 mark.

City of Boise inks deal with ULedger to explore blockchain potential

The City of Boise has entered into an agreement with blockchain company ULedger to explore blockchain potential for the city’s technological infrastructure, Blockchain News reported. Under the terms of the agreement, the City of Boise seeks to explore and implement ULedger’s proprietary Blockchain (ULedger Data Assurance) and related technologies.

RBI explores fiat cryptocurrency – an alternative to Indian rupee

The Reserve Bank of India is currently exploring the possibility of issuing fiat cryptocurrency, executive director Sudarshan Sen said recently while addressing the India Fintech Day conference. The Economic Times quoted Sen saying: "Right now, we have a group of people who are looking at fiat cryptocurrencies. Something that is an alternative to the Indian rupee, so to speak. We are looking at that closely.”

Canadian regulator BCSC approves first bitcoin fund manager

In a landmark move, the British Columbia Securities Commission (BCSC) has granted the first registration of an investment fund manager in Canada solely dedicated to cryptocurrency investments. The BCSC has granted crypto investment firm First Block Capital registration as an investment fund manager and an exempt market dealer in order to operate a bitcoin investment fund.

ICO Warnings and Efforts

Securities Commission Malaysia warns against ICO investments

Swiss Crypto Valley Association to draft code of conduct for ICOs

Dubai financial regulator latest to issue warning on ICOs

UK FCA joins global counterparts to warn against ICOs

SEC Thailand calls for regulatory compliance for ICO tokens falling under definition of securities

Events/Conferences:

Philadelphia Fed’s conference to focus on bitcoin and blockchain

Crypto industry leaders to come together for The ICO Summit in Zurich

Research Studies and Reports:

Japan Exchange Group releases paper on DLT trends in capital market

Bitcoin’s design as an economic system is revolutionary: Bank of Finland

US Fed’s efforts for payment system improvements highlights focus on DLT and digital currencies

Investments/Acquisitions:

Blockchain supply chain platform Ambrosus welcomes Oliver Bussmann as Strategic Advisor, raises $35M in ICO pre-sale

Blockchain professional social network Indorse raises $9M in token sale

Blockchain certification solution LuxTag raises $650k from NEM Startup Funding Programme

Consortium News, Partnerships and More:

Indian tech giant Wipro joins Hyperledger to develop enterprise-grade blockchain solutions

UK FCA, R3, and major banks develop blockchain prototype for regulatory reporting of mortgage transactions

NEM teams up with Malaysia Digital Economy Corporation, gears up for Blockchain Center launch

Intel, Tencent join forces on blockchain technology

Digital Currency and Blockchain Initiatives:

JBA to adopt Fujitsu cloud service for blockchain-based financial service testbed

B3i to launch market beta testing program for reinsurance blockchain prototype in October

IBM, Microsoft to implement GS1 standards in enterprise blockchain applications

Japanese e-commerce company DMM enters bitcoin mining business

IBM, ZF, UBS team up to develop blockchain wallet for automotive industry

SBI Ripple Asia to test blockchain-based cross-border funds transfer system

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