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Weekly round-up for digital currency and blockchain – 21 December 2018
US lawmakers try to exclude cryptocurrencies from federal securities laws
Two US lawmakers, Rep. Warren Davidson and Darren Soto, have introduced a new law that seeks to exclude cryptocurrencies and some other digital assets from the definition of security, reported CoinDesk. The bill, "Token Taxonomy Act", was introduced Thursday. Davidson and Soto believe that securities laws do not apply to companies that use blockchain once they have achieved the goal of becoming a functional network.
The European Parliament seeks to promote the adoption of blockchains in commerce
The European Parliament is trying to promote the adoption of blockchains in trade and activities in the area of the common currency and adopted a resolution last week on these lines, said CoinDesk. The resolution, called "Blockchain: a far-sighted commercial policy", noted the potential of blockchain technology to improve EU trade policies.
The UK tax authority issues a tax guide for crypto users
Her Majesty & # 39; s Revenue and Customs, the government department of the United Kingdom responsible for tax collection, on Wednesday published the tax guide for people who hold cryptographic activities. The document, "Cryptoassets for individuals", outlines the point of view of the agency on the appropriate tax treatment of the cryptoassets and outlines the taxes that the encrypted users may have to pay and which registers they must keep.
Government of the United Kingdom, FCA responds to the crypto-heritage report of the Treasury Committee
The UK Treasury Committee has published responses from the government and the Financial Conduct Authority (FCA) to its report on crypto-activities. In September, the Treasury Committee published a report in which it made a number of recommendations, including the regulation of the crypto-active "Wild West" market, among other things.
The Australian tax office asks the crypto users to declare profits in terms of annual returns
The Australian Tax Office has issued notices to the public to disclose profits from the cryptocurrency negotiation in their annual returns, reports the Australian Financial Review. For tax purposes, cryptocurrencies are considered "property" in the country, which means that users must pay capital gains tax when they sell their cryptographic holdings for a profit after the month of July 2017.
Bitcoin and other cryptocurrencies are called "crypto-assets" in Japan: Report
The Japanese financial services agency (FSA) is about to place the names of bitcoins and other cryptocurrencies in a single "crypto-assets" category, reports The Japan News referring to a report by The Yomiuri Shimbun. An FSA advisory panel drafted a report last week pointing out that the term "virtual currency" could be misleading and called for a change in the term.
The Swiss Federal Council intends to improve the legal framework for blockchain through selective adjustments
The Federal Council, a government composed of seven members of the Swiss government, believes that the country's legal framework needs some "selective adjustments" to better address emerging technologies, including blockchain. During the meeting on 7 December, the Federal Council adopted a report on the legal framework for blockchain and distributed accounting technology (DLT) in the financial sector.
The Canadian government launches the funding competition, looks for blockchain and AI applications in agriculture
The Government of Canada has launched a new funding competition for initiatives on a national scale in automation and digital technology applications in the agricultural and agri-food sectors. He is particularly interested in proposals that try to solve problems through the use of data and technologies in the agricultural and agro-food sector, including artificial intelligence, machine learning and blockchain.
The South Korean government launches the pilot blockchain for the container transport industry
The Ministry of Science, ICT and Planning for the Future of South Korea has launched a pilot blockchain in collaboration with the Ministry of Oceans and Fisheries to explore the potential of technology in the container shipping sector, CoinDesk said. Starting today, the one-year pilot will be conducted at the main southern port of Busan.
The Federation of United Arab Emirates Banks discusses the adoption of the blockchain for KYC processes
The Advisory Council of the Federation of United Arab Emirates Banks (UBF) discussed the adoption of blockchain technology to learn about your clients' processes (KYC) at its fourth meeting of this year. The proposed adoption of blockchain technology to improve KYC processes at banks exceeded the agenda of the meeting held on December 17, 2018, as disclosed.
Research studies
Loans / Investments / Acquisitions
- Waves Platform provides 120 million dollars to launch the universal "Vostok" blockchain solution
- The launch of journalism Blockchain Civil announces the sale of new tokens without hard caps, soft caps or time limits
- Change Healthcare to expand blockchain capabilities with the acquisition of PokitDok
- Peter Thiel, Digital Currency Group back Layer1 encrypted investment platform
Partnerships / Consortia
Digital currency and blockchain initiatives
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