Chinese regulators call for immediate cease of ICO activities

Major regulatory authorities in China have jointly issued a statement calling for immediate cease of initial coin offering (ICO) activities in the country. The departments not only call for immediate halt of such activities, but also state that those who have completed ICO should make arrangements to refund the same.

China to establish blockchain research institute

The Ministry of Industry, under the China Electronic Information Industry Development Research Institute, in collaboration with Beijing Tiande Technology, has initiated the process to establish a blockchain research institute in Qingdao. According to an online post on the Chinese government website, the research institute is being established to accelerate the pace of technological research.

Congressional Blockchain Caucus co-chairs seek tax exemption for cryptocurrency transactions under $600

A bill has been introduced in the US Congress that seeks to create a tax exemption for cryptocurrency transactions under $600. Rep. Jared Polis and Rep. David Schweikert, co-chairs of the Blockchain Caucus, are seeking to create a de minimis exemption for cryptocurrency transactions for goods or services with the Cryptocurrency Tax Fairness Act.

US government funds blockchain research project on public library systems

The U.S. government has announced a $100,000 grant to a project that involves exploring blockchain application in the public library systems, CoinDesk reported. The project will be undertaken at the San Jose State University Research Foundation. The Institute of Museum and Library Services (IMLS) is funding the initiative under the National Leadership Grants for Libraries.

Certain ICO tokens may be securities: Hong Kong’s SFC

Hong Kong’s securities regulator has joined global counterparts to issue guidance on how digital tokens, issued via ICO, may fall under the definition of securities. The Securities and Futures Commission (SFC) on Tuesday issued a statement explaining that digital tokens may be subject to securities laws of Hong Kong depending on the facts and circumstances of the ICO.

Ukraine's Justice Ministry carries out blockchain-based trial auctions

The Ministry of Justice of Ukraine conducted blockchain-based trial auctions for the first time on Wednesday, Reuters reported. Deputy minister Serhiy Petukhov said that the justice ministry has started using blockchain technology for auctioning seized assets. He said that the ministry also plans to transfer state property and land registries to the platform by the end of 2017.

Indian state government collaborates with WISeKey to implement blockchain pilot projects

The Government of Andhra Pradesh, the seventh largest state in India, has entered into an agreement with WISeKey, a leading Swiss cybersecurity and IoT company, to explore the implementation of blockchain technology proof-of-concepts (POCs) as pilot projects in various departments. Noting the surge in cybercrime attacks all across the world, the government aims to simplify processes and to further enhance cybersecurity.

Banco Central do Brasil explores blockchain potential for settlement system

The central bank of Brazil has released a new technical research paper that explores blockchain use cases and examines some of the available platforms to develop working prototypes of a minimal Real Time Gross Settlement System (RTGS), CoinDesk reported. It clarified that unlike blockchain efforts by other central banks, its research aimed to create a minimal funds transfer system to the financial sector in case of a complete main RTGS meltdown.

Events/Conferences:

South Korea to host first ICO Roadshow on September 6th, 2017

Research Studies and Reports:

DLT not matured enough to replace RTGS system: ECB-BOJ research

Bitcoin and digital assets outperform traditional assets by nearly 20 times: CoinDesk

Cryptocurrency transactions likely to surpass $1 trillion mark in 2017: Juniper Research

Investments/Acquisitions:

Filecoin raises record-setting $257M in ICO

Blockchain firm Everex raises $26M in ICO

Japanese VC firm JAFCO invests $15M in blockchain company Tech Bureau

Bitcoin miner Bitmain seeks to raise $50 million from venture firms – Report


Consortium News, Partnerships and More:

Vnesheconombank to boost blockchain educational programmes in Russia

Global telecom carriers launch blockchain consortium

Blockchain partners with Indian bitcoin exchange Unocoin

VEB clears misunderstanding, says deal struck with ‘Ethereum Russia’ not ‘Ethereum Foundation’

Microsoft joins Initiative for Cryptocurrencies and Contracts

Digital Currency and Blockchain Initiatives:

Cambridge Blockchain establishes new subsidiary in Paris, joins government-backed Infrachain initiative

South Korean consortium tests blockchain application in shipping and logistics

Blockchain startup ConsenSys launches $50m VC fund

Israel’s Bank Hapoalim taps blockchain for bank guarantees, collaborates with Microsoft

Royal Melbourne Institute of Technology establishes blockchain innovation hub

E&Y, Microsoft, Guardtime and industry participants launch blockchain platform for marine insurance

RBI’s R&D institute to launch blockchain platform for banking applications

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