 |
BEYOND KYC: The Financial Action Task Force (FATF) is set to finalize new international standards for regulating cryptocurrency firms next month that are widely expected to subject crypto exchanges, wallet providers and others to the “travel rule” long followed by correspondent banks. That means they would have to send customer information along with each transaction. Industry representatives say this requirement would be onerous if not unworkable for crypto businesses, and bad for user privacy. Full story
NO THREAT: The European Central Bank (ECB) has said that cryptocurrencies are currently not a threat to financial stability in the eurozone. In its latest paper on the subject, the ECB said the combined value of crypto-assets is small relative to the financial system, and “linkages” to the financial sector are still limited. Further, banks in the EU do not appear to have “systemically relevant” holdings of crypto-assets. The central bank also said cryptocurrencies do not perform the functions of money and that there is no “tangible impact on the real economy” or on monetary policy. Full story
YES AND NO: As ABN AMRO drops its exploration of a cryptocurrency wallet product over regulatory risks, the Dutch bank says it’s seeking to launch a blockchain platform for trade inventory. The bank is currently “exploring options” for bringing the platform, called Forcefield, to market, and is in discussions with firms in the commodities industry and financial institutions. Built using blockchain tech, Forcefield is designed to provide a real-time view into trade inventories and has been spun off as an independent entity. Full story
BUILT WITH ETH: SprinkleXchange, a stock exchange built on ethereum, is listing its first company next month, Sprinkle Group CEO Alexander Wallin told Bloomberg. The Bahrain-based platform, operating within a regulatory sandbox created by the country’s central bank, offers a decentralized clearing and settlement system that uses automation to reduce time and cost. As well as listed stocks, the firm will offer trading in cryptocurrencies and also plans to add exchange-traded funds in the future. Full story |
|
|
|
|
SPONSOR SECTION  The blockchain story in 2019 is beginning a new chapter, one in which the questions executives are asking are tougher, more granular, more grounded, and more pragmatic. Is blockchain ready for prime time? 1,400 executives say yes. Learn the answers in Deloitte's 2019 Global Blockchain Survey. |
TRIPLE WHAMMY: Bitcoin is looking strong, having registered double-digit gains for three consecutive weeks. Notably, the quick recovery from Friday’s low below $6,100 to $8,000 indicates a strong “buy the dip” mentality. That, coupled with the bullish daily and weekly chart technical setup, indicates scope for a rally to $8,500. A minor pullback to $7,500 may be seen first, however, as the hourly chart is looking increasingly bearish. Full story
|
|
|
|
|
|  |
BEST OF THE BEST
FINAL FRONTIER: Blockchain tech could be a boon in the era of spaceflight, Arie Trouw, founder of XYO, told the Humans to Mars summit last week. As reported by Space.com, Trouw said that spacecraft sharing data over blockchains – in a similar way to self-driving cars – could improve navigation in locations that are remote and lack satellite coverage.
THE REST
POWER UP: Swiss engineering firm ABB has partnered with Italian utility company Evolvere for a blockchain pilot that will explore a role for the tech in secure and transparent peer-to-peer solar energy transactions, according to RTT News. ABB’s Ability platform will enable the integration of smart contracts with the firm’s inverters to bring new efficiencies to managing energy exchange in smart grids.
SMART THINKING: Seoul mayor Park Won-soon is planning to bring in blockchain-based citizen ID cards as part of his plans to turn the South Korean capital into a smart city, Queen.co.kr reports. Through a partnership with ZeroPay, the move is intended to bring new levels of convenience for the city’s inhabitants and boost levels of people using government services, the mayor said. |
WHO WON #CRYPTOTWITTER  |
|
| | | | | | |
