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Digital Currency and Blockchain Weekly Round-up – March 2nd, 2018

16 Japanese crypto exchanges to establish self-regulatory body – Report

Japanese government-registered cryptocurrency exchanges are coming together to set up a self-regulatory body, according to Reuters. The move comes following the major hack on Coincheck in January in which the exchange lost nearly $530 million. Sixteen domestic cryptocurrency exchanges now seek to restore the trust of users in this industry.

Central Bank of Nigeria says cryptocurrencies not legal tender

The Central Bank of Nigeria (CBN) has issued a circular stating that cryptocurrencies are not legal tender in the country. The circular dated February 28 states: “Further to the circular issued by the Central Bank of Nigeria (CBN) on January 12, 2017, to Banks and other financial institutions on virtual currency operations in Nigeria, the Bank wishes to reiterate that cryptocurrencies…are not licensed or regulated by the CBN.”

FATF seeks to improve understanding of cryptocurrency risks

The Financial Action Task Force (FATF), an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, is going to bolster its efforts to understand anti-money laundering and countering the financing of terrorism (AML/CFT) risks associated with cryptocurrencies.

European Commission considers existing cryptocurrency regulation review

The European Commission (EC) would assess the existing regulatory framework for cryptocurrencies and accordingly decide whether regulatory action at the EU level is required, a senior EC official said recently. The remarks were made by Vice-President Valdis Dombrovskis at the roundtable on cryptocurrencies.

Bank Negara Malaysia issues AML/CFT Policy for cryptocurrencies

The Bank Negara Malaysia (BNM) has published the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Policy for Digital Currencies, which aims to ensure that effective measures are in place to address these risks as well as enhance transparency of cryptocurrency activities in the country.

Indian state of Maharashtra, MAS sign MoU to cooperate on blockchain and fintech

The government of Indian state of Maharashtra has signed a Memorandum of Understanding (MoU) with the Monetary Authority of Singapore (MAS) to strengthen fintech cooperation. The MoU will provide opportunities for fintech startups in Singapore to set-up and build business relationships with fintech companies at the Mumbai FinTech hub, exchange information relating to fintech trends, and discuss regulatory approaches to encourage innovation in the financial sector.

Investments/Acquisitions/ Fund-raising:

Blockchain investment firm Pantera Capital invests $5M in Codex

India’s Tech Mahindra to invest CAD 100M in Canada to set up blockchain focused Center of Excellence

Blockchain payments startup Circle acquires Poloniex

Blockchain Investment Platform BnkToTheFuture attracts $33M in token sale

Partnerships/Consortiums:

India-based IndusInd Bank teams up with blockchain startup Ripple

Eleven new organisations join Hyperledger blockchain project

India’s NASSCOM inks MoU with Canada-based Blockchain Research Institute

Nasdaq inks blockchain and market technology agreement with Extraordinary Re

Blockchain and Digital Currency Initiatives

FLEETCOR to test Ripple’s XRP cryptocurrency in international payments

Dubai's RTA to develop blockchain-based vehicle lifecycle management system

Genesis Global Trading launches cryptocurrency lending business

Credit Suisse, ING execute €25M securities transaction using blockchain technology

Global banks, TradeIX, R3 pilot blockchain-based trade finance solution

Rakuten Coin: Rakuten to launch blockchain-based cryptocurrency for loyalty program

JD.com announces new initiative to bolster blockchain and AI development

Porsche tests blockchain applications in vehicles

CULedger, Evernym partner to develop blockchain-based digital ID solution for credit unions

S&P Global Platts launches blockchain platform for oil inventory data

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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