Coinbase, Coin Center, USV and Consensys prepare Blockchain Token Securities Law Framework

Leading cryptocurrency firm Coinbase has announced the release of a Blockchain Token Securities Law Framework, prepared in collaboration with Coin Center, Union Square Ventures (USV) and Consensys. It said that the framework will act as a starting point for developers entering this space, who can use it to analyze the likelihood that a particular blockchain token would be subject to US federal securities law. 

Illinois DFPR seeks comment on Digital Currency Regulatory Guidance

The Illinois Department of Financial and Professional Regulation (IDFPR) has recently released its Digital Currency Regulatory Guidance proposal for public comment. According to DCE Brief, the guidance provides an overview of the IDFPR policy on cryptocurrencies such as bitcoin, and its interpretation of the application of the state’s Transmitters of Money Act to various activities involving digital currency.

'Bitcoin is legal', says Russian Federal Tax Service

The Federal Tax Service of the Russian Federation released a document last week describing the status of digital currency such as bitcoin in the country. According to the document, it is legal to own and use digital currencies in the Russian Federation, DCE Brief reported. It said that virtual currencies are viewed as ‘foreign’ currencies, adding that transactions involving such currencies are considered as monetary transactions. Also, under Russia’s current monetary control system, such transactions are not subject to financial reporting in any form.

Saxo Bank sees huge gains for cryptocurrencies in 2017, expects bitcoin to test $2,100

Saxo Bank, the online multi-asset trading and investment specialist, has released its annual set of 'Outrageous Predictions' for the forthcoming year. Among other predictions, the bank sees huge gains for bitcoin under President Trump’s regime and expects it to test $2,000. The US fiscal spending under President Trump would increase budget deficit to $1.2-1.8 trillion (from $600 billion), causing a tremendous surge in the US growth and inflation. This would force the Federal Reserve to accelerate the hike and the US dollar would reach new highs – essentially leading to a “domino effect” in emerging markets that will start looking for fiat alternatives.

IBM unveils Blockchain Ecosystem, to enable organizations collaborate using Hyperledger fabric

Technology giant IBM has announced that it is building a “blockchain ecosystem” to boost the growth of networks on the Hyperledger Fabric and IBM Blockchain, CIO reported. According to the website, IBM Blockchain Ecosystem will enable companies to participate in an open source, openly governed, cross-industry effort to advance blockchain technology, the Hyperledger Project.

Digital Currency/Blockchain research studies:

Federal Reserve explores blockchain application in payments, clearing, and settlement

Regulators should not fear use of smart contracts and blockchain – Euroclear

Blockchain firm Digital Asset releases non-technical whitepaper

Chamber of Digital Commerce releases smart contracts white paper featuring 12 use cases

Conferences/ Events:

US Commerce Department to hold public meeting on blockchain copyright

Applications open for South East Asia's first blockchain incubator ‘Satoshi Studios’

NAV Coin to organize conference in Auckland

Blockchain event for payments and financial services innovators ‘Distributed: Markets’ to be held in February 2017

Important deals, partnerships, and more:

Mizuho and IBM Japan test digital currency to reduce cost of money transfers

Microsoft’s Bletchley blockchain project gets two new partners on Azure Marketplace

Blockchain platform Stellar goes global, partners with Coins.ph, Flutterwave, ICICI Bank and Tempo

European Central Bank and Bank of Japan partner to conduct blockchain research

Deloitte invests in blockchain startup SETL

KPMG, Microsoft India partner to foster blockchain and other innovative technologies

Blockchain IoT startup Sensify Security joins Industrial Internet Consortium