China’s Hainan Province announced a new series of economic measures that include investing 1 billion yuan to promote blockchain industry development, according to a report from state-run media outlet Xinhua. The announcement was made in a press conference in the Hainan capital, Haikou on Wednesday.
Coinbase announced this week that Coinbase Card now supports the DAI stablecoin, providing card users with “a cryptocurrency with stable purchasing power.” In a blog post announcing the move, Coinbase asserted that the addition of DAI support provides consumers with even more opportunity and choice.
Juniper Research has released new research data revealing that the food industry could save as much as $31 billion in food fraud costs by 2024, thanks to blockchain technology and the Internet of Things (IoT). In a press release announcing the findings, Juniper noted that emerging technologies will offer these savings through more efficient tracking of supply chains and simplification of regulatory compliance.
While China has recently expressed increasing support for blockchain technology, the government continues to be resistant to cryptocurrency. However, if new reports from the Beijing Blockchain Technology Application Association (BBAA) are correct, The bulk of China’s blockchain companies have been focused on issuing digital currencies rather than developing blockchain applications.
Singapore technology firm BCB Blockchain is reportedly partnering with the government of the Philippines in an effort to support new startups and smart city development in the country. In a press release dated November 23, the company confirmed that it signed a memorandum of agreement with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD) at the 3rd National Technology Business Incubator Summit.
Galaxy Digital Holding Ltd reportedly plans to launch two new Bitcoin funds that will target older investors, Bloomberg reports. In a phone interview, the cryptocurrency firm’s CEO, Michael Novogratz, told Bloomberg that the plan is to attract accredited and institutional investors aged 50 to 80 to cryptocurrency investing.
LocalBitcoins has announced that it has been registered as an approved virtual currency provider by Finland’s Financial Services Authority (FIN-FSA). That registration is now required for all digital currency providers if they intend to provide services in Finland.
Worldline Partners with Bitcoin Suisse to Provide Merchant Cryptocurrency Payments Services in Switzerland
European payments service firm Worldline is partnering with Swiss cryptocurrency company Bitcoin Suisse to provide digital currency payment services to consumers and merchants in Switzerland. Bitcoin Suisse recently announced that the two companies have signed a letter of intent, which is designed to increase acceptance and adoption of digital currency across the country.
Innovative technology company Horizon State recently announced its return to the marketplace, with new ownership and management. According to an October 31 press release, Timothy Goggin is the firm’s new Chief Executive Officer.
Swiss-based digital asset bank Sygnum announced in a press release Thursday that it has been granted a capital markets services (CMS) license by the Monetary Authority of Singapore (MAS). That approval will enable the company to begin providing digital asset investment strategies and product offerings to qualified investors in Singapore.
The Inter-American Development Bank (IDB) has reportedly partnered with startup company ChromaWay for a two-year initiative dubbed “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry. That’s according to ChromoWay, which announced the venture on the company’s blog.
Digital asset futures trading platform Bakkt has plans to release a new consumer app in the near future, according to a blog post published on October 28. In the post, Chief Product Officer Mike Blandina suggested that the app is part of the company’s effort to deliver digital asset payment opportunities for both consumers and merchants:
On Friday, Bitfinex published a statement in response to Crypto Capital principal Manuel Molina Lee’s extradition to Poland this week. Bitfinex categorically rejected any suggestion that it had any involvement in Crypto Capital’s alleged laundering of drug proceeds or other illicit activities.
According to Forbes Russia, Telegram Open Network investors have reportedly agreed to Telegram’s proposed delay in the launch of the platform, voting against a proposed refund option. The voting investors included participants in both TON funding rounds, with a majority agreeing to the April 30 launch delay.
In a post published on its website today, Binance US announced that customer USD deposits are now eligible for Federal Deposit Insurance Corporation (FDIC) coverage. According to the announcement, all customer dollar deposits are kept in “pooled custodial accounts” maintained at a number of FDIC-insured banks:
On Wednesday, Telegram responded to the Securities and Exchange Commission’s October 11 emergency action seeking a preliminary injunction against the company and its Gram digital token. In an October 16 court filing, the company asked the federal court to reject the SEC’s preliminary injunction request, arguing that the action could be “misconstrued” by the public, Telegram’s customers, and investors:
The Libra Association has confirmed its initial membership, as the 21 remaining members gathered in Geneva to formally sign on to the organization’s charter, CNBC reports. The signing came after a tumultuous two weeks that saw one quarter of the original 28 founders withdraw from the project.
A group of major automobile manufacturers are planning to begin field testing of a new blockchain-based vehicle ID system in the United States next month, Nikkei Asian Review reports. The system reportedly uses blockchain technology to enable drivers to pay highway tolls and parking costs automatically.
The United States Securities and Exchange Commission announced Friday that it has obtained a temporary restraining order against Telegram Group and its subsidiary TON Issuer. In a press release, the SEC said that the complaint alleges that Telegram and TON Issuer have been conducting an ongoing, unregistered digital token offering in violation of Securities Act registration provisions.
Facebook’s Libra project suffered yet another public setback on Friday, as four of the Libra Association’s founding members announced their exit from the project, CNBC reports. The four early project backers – Visa, eBay, Stripe, and Mastercard – all indicated that they continue to support efforts like Libra but have decided to focus their attention on their own business goals.