MAS proposes single license framework for payment service providers

The Monetary Authority of Singapore (MAS) has released a consultation paper on proposed changes to the payments regulatory framework and establishment of a National Payments Council, taking into account the ongoing innovation in the fintech space. It has proposed a single framework that will provide for the licensing, regulation and supervision of all payments services, including stored value facility holders, remittance companies, and virtual currency intermediaries.

Government of Moscow to explore various blockchain use-cases

According to latest reports, government officials in Moscow have expressed their willingness to explore the applications of blockchain technology that underpins digital currency bitcoin. Gazeta.ru reported that Deputy Head of the Department of Information Technologies (DIT) of Moscow Andrey Belozerov has said that the agency is ready to test the technology for various use cases.

R3 files patent for its distributed ledger technology; releases non-technical whitepaper on Corda

Financial innovation firm R3 CEV that is leading a blockchain consortium of over 60 banks has filed for a patent on Tuesday covering software behind the new project ‘Concord’, The Wall Street Journal reported. R3 on Wednesday released its first whitepaper on Corda: an introductory, non-technical overview that explains its vision, some design choices and outlines the key concepts underpinning the platform.

Federally funded research lab seeks to end bitcoin anonymity

Sandia National Laboratories, a federally funded research centre run by Lockheed Martin, has revealed that it has created a set of requirements for an analysis tool that can be used to overcome the challenges brought by bitcoin and to assist law enforcement.

South Africa Reserve Bank open to cryptocurrencies and blockchain technology

Speaking at the Cybersecurity Conference, Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), said that as new financial products and services emerge from fintech innovation, the central bank will have to consider their implications for the way in which it conducts its oversight functions as well as monetary and macroprudential policy.

Assemblymember Matt Dababneh withdraws California bitcoin bill

Assemblymember Matt Dababneh has decided to withdraw California bitcoin bill AB 1326 from consideration for vote this year. Dababneh issued a statement on the matter and said, “After several vigorous and valuable conversations and meetings with virtual currency experts, consumer organizations and others, I have decided to remove AB 1326 from consideration for a vote this year”.

UK-based blockchain companies to get FCA approval soon

The Financial Conduct Authority (FCA), a financial regulatory body in the UK, is considering approving firms using bitcoin’s underlying blockchain technology. Speaking with Financial Times, the financial watchdog said that a number of groups in its preapproval stage are engaged in the development of blockchain-based consumer-facing and compliance products.

ASX completes first blockchain prototype for settlement system

In the recently published “Full-Year 2016 Results Presentation”, the Australian Securities Exchange (ASX) has stated that it has completed the initial phase of a distributed ledger-based prototype for replacement for CHESS, its clearing and settlement system.

Digital Currency/Blockchain research studies:

• Collaborative blockchain approach likely to persist: WFE survey

Important deals, partnerships, and more:

• Factom, Intrinio partner to bring US stock market data to blockchain
   
• TAO Network and Boogie Shack Music Group partner to offer blockchain solution for music industry
   
• Bitfinex signs letter of intent with BnkToTheFuture to compensate customer losses with equity
   
• Russian blockchain consortium to get a new member
   
• Hitachi and BTMU begin PoC testing using blockchain to digitize checks in Singapore
   
• Lisk development roadmap unveiled, details upcoming funding vehicle for new blockchain applications
   
• Blockchain Foundry established in Canada, initial commercial product to be available on Azure Marketplace before year end