Russian political party calls for bitcoin and blockchain adoption

The leader of Russian Party of Growth has urged for legalization of digital currencies such as bitcoin and become a leader in the development of blockchain technologies, Russian news agency Tass reported. The Presidential Commissioner for Entrepreneurs Rights Boris Titov said that Russia should become a leader in blockchain development. He said that that the technology will provide full transparency in both financial relations and those between the state and the society.

US Congress calls upon government to support blockchain and fintech

A new bipartisan bill by the House of Representatives has called upon the US Government to adopt a national policy for technology to promote consumers' access to financial tools and online commerce to promote economic growth and consumer empowerment. In this context, the resolution mentions financial innovation tools such as financial technology or fintech, blockchain technology and digital currencies. While it doesn’t use the term “digital currency” explicitly, it talks about “alternative non-fiat currencies”.

Central bank digital currencies are long way off, says BoE Deputy Governor

The Economic Affairs Committee of the House of Lords (Parliament's upper house) recently held a meet to discuss blockchain and distributed ledger technology. Broadbent started off saying that blockchain and distributed ledger technologies are currently in infancy. When asked about the possibility of central bank digital currency (CBDC), he said that it is “a long way off” due to technological barriers along with the fact that it would require major restructuring of the entire financial system.

Chelan County Utility hikes electricity tariffs for bitcoin mining companies

A new electric rate has been approved by Chelan County Public Utility District commissioners on Monday for customers with energy intense loads such as server farms and similar technology operations including bitcoin mining.

Indian anti-narcotics agency detects bitcoin and darknet use for drug trafficking

Indian anti-narcotics agencies have found that drug trafficking in the country is being increasingly carried out through the dark Web or ‘darknet’ and the unregulated cryptocurrency bitcoin. The Narcotics Control Bureau (NCB), the chief law enforcement and intelligence agency of India responsible for fighting drug trafficking and the abuse of illegal substances, has interdicted two such syndicates operating in the country.

Ethereum hard fork completed, half of all DAO funds withdrawn

Ethereum community completed hard fork on Wednesday, July 20. Vitalik Buterin, Ethereum co-founder, said that the fork took place smoothly, adding that he looks forward to working together with developers and the community to continue making the Ethereum ecosystem and protocol a success.

Blockchain research studies:

• Central bank digital currencies could raise GDP, says Bank of England
   
• Asset managers should understand and embrace blockchain technology: Report
   
• EUIPO finds IPR-infringing business models relying on TOR and bitcoin
   
• Banks unprepared to face challenges posed by digital currencies, Bain's research reveals

Important deals, partnerships, and more:

• Cryptocurrency exchange Gemini partners with Echo Fox
   
• SETL closes first round of funding; appoints new board members
   
• Leading bitcoin miner Bitmain acquires Blocktrail
   
• Digital currency exchange Bittrex adds 12 new coins in Q2 2016, including Waves, Lisk, Steem
   
• Indian IT firm Mphasis announces Centre of Excellence for blockchain-based solutions
   
• Mizuho to pilot Ripple's blockchain technology for cross-border settlements
   
• Fintech startup BnL Growth Partners joins Banking on Blockchain Fund
• Bitcoin startup Bitnet to sell assets to Japan’s Rakuten