Headlines for the world of Cryptocurrencies - December 04, 2018

Sirin Lab’s Launches Its First Blockchain-Powered Smartphone

Sirin Labs was one of the hottest ICOs of 2017 being able to raise more than $157.8 million on token sales.

It also acquired football legend Lionel Messi as one of its product endorsers.

The fact remains that it has to compete with industry giants Apple and Samsung and has stepped into an uncharted territory.

Furthermore there is another veteran smartphone manufacturer stepping into the blockchain/smartphone territory, HTC, with its release of Exodus 1.

However, the company seems to be unperturbed by these facts as they are preparing the release of its Blockchain Smartphone which is described as the company’s co-founder and CEO as a one-stop shop smartphone.

Moshe Hogeg reveals prior to their smartphones release users will have to acquire several devices, applications and services to be able to do cryptocurrency related activities which he proudly claims can all be done in their flagship phone.

Hogeg affirmed that Finney will take a huge step forward in bridging the gap between the blockchain economy and the consumer market, making the crypto more accessible to an audience that does not necessary have the time or inclination to sign up for an exchange account or buy an hardware wallet.

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G20 Makes Commitment To Regulate Cryptocurrencies

The leaders who participated in the G20 summit in Buenos Aires, Argentina have jointly declared for the fair and sustainable development of the world’s financial system which includes the importance of having an open financial system as well has international standard to regulate emerging technologies such as cryptocurrencies.

According to the group, it will continue to monitor and tackle any issue that may arise from the emerging industry especially those that concerns risk and vulnerabilities.

It will try to do this via a continued regulatory and supervisory cooperation.

Moreover, the G20 leaders are enthusiastic of the emergence of a non-bank financial inter mediation and will try to regulate the nascent industry for anti-money laundering and countering the financing of terrorism.

It has been stated that G20 is an international forum for governments officials and central bankers from the 20 biggest economies of the world.

Its members accounts for more than 85% of the global economic output, 66% of the total population as well as 75% of all trades.

Group has concluded that cryptocurrencies do not pose a risk to financial stability but admits that there is a need for more regulatory clarity in the space.

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Singapore Releases New ICO Guideline

The acting Central Bank of Singapore, The Monetory Authority of Singapore (MAS) has recently release an updated version of their guidelines on how to raise capital via initial coin offerings (ICOs).

MAS elaborates on a New Payments Framework and details how ICO participants should conduct themselves according to Anti-Money laundering (AML) and Counter Financing of Terrorism (CFT) policies.

The guidelines detail the requirements of all ICO participants.

ICO issuers are required to obtain capital market services license, financial advisers must get a financial advisory license from the FAA and digital asset exchange must be approved and acknowledged by the MAS.

The New Payments Framework that was introduced last November and updated recently clarifies the liabilities of participants in the new capital funding activity, ICO.

It requires all that is involved in the activity to take appropriate steps to identify the risk associated with the said activity especially against money laundering activities and terrorism financing.

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Blockchain Bank Bill Passes In Wyoming

Amidst stiff opposition from the Banking sector legislators in Wyoming has passed a blockchain bank bill that further cements the its position as one of the most welcoming state to blockchain integration in the United States.

Voting 13-1 in favor of the bill the legislative committee enables blockchain related projects to gain financial services from traditional banking sector.

This news was welcomed by Caitlin Long, a legal expert who used to serve on Morgan Stanley’s internal blockchain working group who is also a resident of the state.

According to the new bill, there will be a new type of financial institution dubbed as the Special Purpose Depository Bank which is designed to provide valuable services to blockchain innovators.

The passing of the bill is just one among the many bills Wyoming legislators inacted in 2018.

There were already 5 blockchain-friendly bills in 2018 and 6 more bills have a greater chance of becoming law.

Notable among these bills is the Utility Token Bill which was passed on March 7th this year which classifies utility tokens as a new asset class.

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Calastone Moving Into Blockchain Space

A London-based transaction network for investment funds has reportedly moving their entire settlement system to blockchain by May of 2019.

Calastone provides services to over 1,700 firms including JP Morgan Asset Management.

It has been estimated that the move will save the industry up to 3.4 billion GBP or around 4.3 billion USD in fund distribution costs, excluding the U.S. market.

According to the firm, the move to blockchain is part of their effort to automate its processes in order to make them cheaper and more efficient doing away with redundant activities.

Currently, Calastone’s processes for settling funds are still manual which includes 9 milllion messages and transactions worth about $217 billion a month between buyers, sellers and distributors.

The initiative has been on the works for a little over a year now with testing phase concluding in June 2017.

The completion of its testing of a distributed market infrastructure signals the start of migration process to a permissioned blockchain network which is targeted to be finished sometime in 2019.

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Headlines for the world of Cryptocurrencies - December 03, 2018

Crypto Regulations Coming To Belarus / The U.S. Food and Drug Authority Hires Blockchain Specialist / Asus and Quantum Cloud Partners To Bring Passive GPU Mining / Media Coverage Spiked After Market Slump / New Bitcoin Mining Patent Won By Intel

Headlines for the world of Cryptocurrencies - December 02, 2018

Binance Creating A Combined Stablecoin Market / Crypto Valley Of Asia Plans To Attract Japan, Korea and Australia / Blockchain-Powered Voting In South Korea Soon / Malaysia Will Get Their Crypto Regulations In The First Quarter 2019 / Starting 2019 No More Crypto Mining Subsidies In Mining In Norway

Headlines for the world of Cryptocurrencies - December 01, 2018

Crypto The Next Internet Revolution According To Coinbase’s Executive / The Gibraltar Blockchain Exchange (GBX) / Cryptocurrencies Will Gain Wider Acceptance According To Economic Chief Advisor Of Allianz / Huobi Launching Futures Trading Platform / Blockchain Initiatives Presented In Annual UAE Government Meeting

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