US President Trump signs defense bill with blockchain research mandate

U.S. President Donald Trump has signed a defense bill that includes a mandate for a research study on cyber applications of blockchain technology, CoinDesk reported. The $700 billion defense bill passed the US Senate in September. It calls for a blockchain study by the Secretary of Defense and submission of a report that will look into the cyber applications of technology.

Australia brings digital currency exchanges under regulatory scope

The Australian Senate last week passed a bill that amends the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to expand its scope to include digital currency exchanges. With the passing of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017, digital currency exchanges would be required to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The bill also requires the AUSTRAC to maintain a Digital Currency Exchange Register.

Industry-led digital currency measures to roll out in January in South Korea

The Korea Blockchain Industry Association has announced measures aimed at making cryptocurrency trading more transparent in the country, according to Reuters. Under the new measures, users would be allowed to trade in digital currencies through one account after the verification of their identities through traditional financial institutions like banks, the association said in a statement. For digital currency exchanges, the measures would allow only those exchanges to operate which have over 2 billion won ($1.83 million) worth in assets.

Mexican authorities issue warning on cryptocurrency and ICOs

In a joint statement, Banco de Mexico, the Ministry of Finance and Mexico’s Banking and Securities Commission (CNBV) have warned against cryptocurrencies and initial coin offerings (ICOs). The authorities emphasize that virtual currencies are not backed by any monetary authority and do not constitute legal tender in Mexico.

RBA Governor ponders over issuing Australian dollars on blockchain

The Reserve Bank of Australia (RBA) has no immediate plans to issue an electronic form of the Australian dollar (AUD), RBA Governor Philip Lowe said recently. Speaking at the 2017 Australian Payment Summit, Lowe said that the RBA is currently looking at the pros and cons of the digital dollar and also exploring how settlement arrangements with central bank money might evolve as new technologies emerge.

Indian Income Tax department surveys nine bitcoin exchanges, considers tax possibility

Bitcoin’s explosive growth in the past couple of days has grabbed the attention of Indian Income Tax Department, which carried out “surveys” at nine major bitcoin exchanges across the country on Wednesday in a major crackdown. The Times of India reported that a senior official has clarified that these were not raids, but surveys under section 133(A) of the I-T Act.

Gibraltar passes bill supporting regulatory framework for DLT businesses

The Gibraltar Parliament has unanimously passed a bill that advances the government’s effort to introduce a distributed ledger technology (DLT) framework. On December 6, 2017, the lawmakers passed the bill which will create a legal basis for the introduction of the new DLT framework, which will come into effect on the 1st January 2018.

Hong Kong SFC outlines legal and regulatory requirements for bitcoin futures contracts

With the launch of bitcoin futures trading by CBOE and the upcoming launch by CME Group, the Hong Kong securities regulator has outlined legal and regulatory requirements for bitcoin futures contracts. The Hong Kong Securities and Futures Commission (SFC) has issued a circular on Bitcoin futures contracts and other cryptocurrency-related investment products.

Venezuelan President announces Superintendence of El Petro Cryptocurrency

Following the recent announcement on plans to launch an oil-backed ‘Petro’ cryptocurrency, Venezuelan President Nicolas Maduro has announced the setting up of a body that will govern the transactions with the cryptocurrency. On December 8, 2017, Maduro signed decree for the creation of the Superintendence of El Petro Cryptocurrency.

French government to allow blockchain trading of unlisted securities

The French government last week announced its plans to make way for using blockchain technology for trading unlisted securities, Reuters reported. The announcement comes as the government is adopting new rules to position Paris as the hub for financial innovation. With the new rules, banks and fintech companies would be able to establish blockchain-based platforms which would facilitate the instant trading of unlisted securities, without the need for middlemen.

Research Studies:

Deutsche Bank calls for greater regulation on cryptocurrencies

Investments/Acquisitions/ Fund-raising:

Blockchain healthcare startup Curisium attracts $3.5M in seed funding

Bitwise secures $4M in seed round, launches cryptocurrency index fund

Bitcoin startupBitGo secures $42.5M in Series B funding

Blockchain adtech startupStormX raises $32M in token sale

Blockchain startup Circle’sCENTRE attracts $20M in initial funding

Partnerships/Consortiums:

Six blockchain projects team up with Aion for blockchain interoperability

IBM launches Blockchain Food Safety Alliance in China with Walmart, JD and Tsinghua University

R3, KPMG, New Alchemy and HCM Capital join Chamber of Digital Commerce

South Korea’s NH Nonghyup Bank joins R3-led blockchain consortium

Digital Currency and Blockchain Initiatives:

Overstock CEO unveils new venture on blockchain-based global property registry system

Vanguard leads blockchain index data distribution pilot

Unilever, Provenance, Barclays, others launch blockchain project on sustainable supply chains

Japanese financial and tech titans to trial blockchain for cross-border trade operations

L&T Infotech to offer blockchain trade finance solution on Microsoft Azure

Banking giants UBS, Barclays, others collaborate on Ethereum-based MiFID II data reconciliation solution

Ripple locks up 55 Billion XRP in Escrow to eliminate supply uncertainty

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