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Digital Currency and Blockchain Weekly Round-up – April 6th, 2018

Friday, April 6, 2018 11:42 AM UTC.

BoE announces PoC on ensuring renewed RTGS service’s compatibility with DLT
The Bank of England (BoE) has announced that it is commencing a proof-of-concept (PoC) to look into the way in which its renewed Real Time Gross Settlement (RTGS) service could be compatible with innovative payment technologies, including built on distributed ledger technology (DLT).

Australia rolls out new AML/CTF laws for digital currency exchange providers
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced that digital currency exchange (DCE) providers would be required to meet Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) obligations, effective 3 April 2018.

RBI bans banks from engaging with crypto companies, explores central bank digital currency
In its latest statement on developmental and regulatory policies, the Reserve Bank of India (RBI) has banned the entities regulated by it from engaging with any individual or businesses involved with digital currencies. Furthermore, the RBI also revealed that it has been looking into the possibility of fiat digital currency and has set up an inter-departmental group to study and submit its findings.

S-Coin: Seoul plans its own cryptocurrency
Seoul, the capital city of South Korea, is planning its own cryptocurrency, Mayor Park Won-soon told CoinDesk Korea. Dubbed “S-Coin,” the cryptocurrency is intended to be used in city-funded social benefit programs for public employees, job seekers and citizens helping the environment by saving electricity, water and gas.

South Korea to announce cryptocurrency taxation framework by June 2018: Report
The South Korean Ministry of Strategy and Finance (MOSF) is planning to announce a framework on cryptocurrency taxation by June’s end, CCN reported referring to a local media outlet Financial News. South Korea is reportedly planning to announce its cryptocurrency taxation plan alongside G20’s recommendations. The MOSF is considering levying capital gains tax and other income taxes on cryptocurrency users.

South Korea’s FTC orders crypto exchanges to revise user agreements
South Korea’s Fair Trade Commission (FTC) has issued a mandate to a number of domestic cryptocurrency exchanges to revise their user agreements, CoinDesk reported. The order is directed towards 12 of the country’s crypto exchanges including Bithumb, BTC Korea, Korbit and Coinone, among others.

Thai cabinet approves draft decree on cryptocurrency taxation
The Cabinet of Thailand has approved a decree draft to regulate cryptocurrencies and digital tokens, Nikkei Asian Review reported. Under the new laws, investors will have to pay 7 percent value added tax (VAT) on all cryptocurrency trades, and a 15 percent capital gains tax on returns.

Chilean Energy Minister launches blockchain technology in energy sector data
Chile’s Minister of Energy Susana Jiménez has announced on Thursday that the National Energy Commission (CNE) will start using blockchain technology in order to boost the levels of security, integrity, traceability and confidence of the public information available. This initiative positions the Ministry of Energy and the CNE as the first Chilean public institutions to use blockchain technology.

Tunisian government taps blockchain for school meals programme
The Tunisian Ministry of Education has signed an agreement with blockchain supply chain startup in order to implement a blockchain-based tracking system for its school meals programme. The Tunisian government operates a school meal programme which offers one fresh meal a day to underprivileged students in its primary and secondary educational system. The programme is currently managed by the United Nation's World Food Programme.

First ever Litecoin Summit to hold in September 2018

Investments/Acquisitions/ Fund-raising:
Blockchain startup Chainalysis raises $16M in Series A round
Token sale platform CoinList secures $9.2M in Series A funding
Crypto exchange Coincheck to accept acquisition offer from Monex: Report
Cryptocurrency data startup BitKan secures $10M in Series B funding
Bitcoin startup BitPay attracts $40M in Series B round

Foxconn subsidiary to manufacture Sirin Labs’ blockchain smartphone
Kerala Blockchain Academy becomes first Indian institution to join Hyperledger
Russia’s Alfa-Bank joins R3 blockchain consortium
B3i transitions from blockchain consortium to independent legal entity
Ripple and CULedger join Hyperledger blockchain project

Blockchain and Digital Currency Initiatives:
Swiss startup Procivis to give digital IDs to Rohingya via blockchain
Five healthcare organisations to test blockchain for provider data
Chat giant LINE launches blockchain subsidiary ‘Unblock’
China’s Sinochem trials blockchain for gasoline shipment
Polish bank partners with Coinfirm for blockchain-based document verification
Unity Technologies, Kin to revolutionise gaming with cryptocurrency

Source: EconoTimes

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