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Digital Currency and Blockchain Weekly Round-up – November 24th, 2017

Ethereum-based digital ID registration platform opens to Zug citizens

Self-sovereign identity platform uPort has announced the opening of an Ethereum-based digital identity registration system to the citizens of Zug, Switzerland. The platform was officially opened on November 15, 2017. Earlier in July, uPort, in partnership with the city of Zug, launched a pilot program to register residents’ IDs on the blockchain to unlock access to government eServices.

Japan’s FSA issues policy guidance on cryptocurrencies and ICOs

In a recently published document, the Japanese Financial Services Agency (JSA) has clarified its financial administrative policies, which includes its policy on fintech and virtual currencies, Bitcoin.com reported. The agency underscored the need to protect digital currency exchange users. It said that digital currencies use blockchain technology “which was not seen before,” adding that daily business management and system management are required to protect users.

Australian government announces AU$8M grant to blockchain project in City Of Fremantle

The project is aimed at exploring how cities can use blockchain technology and data analytics to integrate distributed energy and water systems. The trial will involve using blockchain technology to install and connect highly resilient, low-carbon and low-cost systems. The key objective is to show how blockchain technology and data analytics can facilitate the interconnected infrastructure of future smart cities.

South Korea’s Financial Regulator: No plans to regulate bitcoin trading

Financial Supervisory Service (FSS), South Korea’s financial regulator, is not planning to regulate digital currencies such as bitcoin, FSS Governor said recently, as reported by The Korea Times. According to the government, digital currencies do not function as a payment tool and are rather speculative objects, FSS Governor Choe Heung-sik told reporters. In line with this viewpoint, the regulator does not consider cryptocurrencies and related activities as falling under the scope of financial products or services.

Bermuda government launches task force to foster digital currency business

The Bermuda government has launched an initiative to attract and accelerate the growth of digital currency business on the island. The government has announced the formation of a task force in order to advance Bermuda’s regulatory environment as a destination for utility tokens, tokenised securities, cryptocurrencies, and coin offerings. The task force will comprise of two teams.

Reserve Bank Zimbabwe says bitcoin is illegal

The Reserve Bank Zimbabwe (RBZ) has said that bitcoin is illegal in the country and has warned people against using the digital currency, according to Techzim. Norman Mataruka, RBZ director and registrar of banking institutions, recently said: “In terms of the Bitcoin, as far as we are concerned, it not actually legal. In Southern Africa, what we have done as regulators, we have said that we will not allow this in our markets.”

MAS proposes regulation of digital currency services under Payment Services Bill, launches consultation

The Monetary Authority of Singapore (MAS) has launched a second consultation on its proposed payments regulatory framework, known as the Payment Services Bill, which aims to bring the regulation of payment services under a single legislation. Among other things, the bill will expand the scope of regulated payment activities to include services relating to virtual currency, such as bitcoin and Ethereum, and other innovations.

Tether says hacker stole $30M in US Dollar Token

Tether, the company behind a digital token (USDT) backed by the US dollar, has announced that funds worth over $30 million were “improperly removed” from its wallet by an external attacker. Underscoring the growing controversy around Tether, CoinDesk brought to the forefront the unclear relationship between Tether and Bitfinex bitcoin exchange. It noted that the two companies share common ownership reportedly, adding that Bitfinex has been accused of using the asset for fraud and market manipulation.

Bitcoin Gold issues official statement on recent wallet scam, says some theft claims are reliable

The team behind Bitcoin Gold (BTG) have issued an official statement on the recent wallet scam that resulted in over $3.3 million in cryptocurrency being stolen reportedly. In its official statement, Bitcoin Gold team confirmed the wallet scam, but did not reveal the total amount stolen. “Preliminary investigations indicated that at least some of the claims of theft by the mybtgwallet site are reliable,” it said.

Investments/Acquisitions/ Fund-raising:

Bitfury leads $5M investment in blockchain-powered IoT platform Moeco

Consortium News, Partnerships and More:

R3 welcomes first Austrian bank to blockchain consortium

Axoni-led working group completes blockchain trial for equity swaps

R3 expands partnership with Micorosft Azure to boost adoption of Corda DLT platform

Digital Currency and Blockchain Initiatives:

dnata, flydubai Cargo and IBM trial blockchain technology for freight transport

French asset manager TOBAM launches bitcoin mutual fund

South Africa’s CSD Strate joins forces with Nasdaq on blockchain e-voting solution

Air New Zealand partners with Winding Tree to explore blockchain potential

RSK, Coinfirm partner to bring AML/CTF compliance to cryptocurrency marketplace

UAE-based RAKBANK powers instant payments to India using Ripple’s blockchain network

Israeli container shipping firm ZIM trials blockchain-based Bill of Lading

ING solves data privacy issue of public blockchains with new solution

AIA Hong Kong announces blockchain solution for bancassurance operations

State Bank of India to roll out blockchain-based KYC solution by next month – Report

Central New Mexico Community College to issue student-owned digital diplomas using blockchain

Visa announces pilot phase of blockchain-powered B2B payments platform

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