Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.
Cryptocurrency exchange news
- Major U.S.-based crypto exchange and wallet company Coinbase said they have been granted an e-money licence by the Central Bank of Ireland. It “will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the [European Union] and [European Economic Area],” Zeeshan Feroz, CEO of Coinbase UK, said in a blog post, stressing that “Europe represents a huge opportunity for Coinbase.”
- Two American financial regulators and a government-run anti-financial crime agency have warned United States residents that cryptocurrency transactions are covered by money laundering and disclosure laws – and say non-compliance will be punished. In a press release, the Commodity Futures Trading Commission , the Financial Crimes Enforcement Network and the Securities and Exchange Commission stated that any individual or company involved in “digital asset activities” should comply with anti-money laundering and counter-terrorism financing laws applicable under the Bank Secrecy Act. The agencies stated that they viewed “digital assets” as instruments that may qualify […] as securities, commodities and security-or commodity-based instruments such as futures or swaps.”
- A G7 task force, which comprises representatives from central banks, the International Monetary Fund and the Financial Stability Board, has told the operators of “global stablecoins” with the potential to “scale rapidly” that they pose a range of potential problems to the world of finance. The report, which the BBC says will likely impact Facebook’s Libra plans, states, “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed.”
- Ukraine’s Ministry of Digital Transformation will consider proposals put forward by industry group Blockchain Ukraine. The latter has suggested issuing a system whereby a financial regulator issues licenses for domestic cryptocurrency exchanges. The group also wants the government to impose a flat tax rate of 5% on cryptocurrency transactions, per Fixygen.
- Students at a leading Japanese high school say they want to receive education in subjects including how cryptocurrencies are created. Per Nikkyo Web, Japan’s Ministry of Education has consulted schools about what students would like to learn about when curriculums are amended. Pupils at Konan High School in Ashiya stated that cryptocurrency creation was of interest to them. Konan has been earmarked by the government as a Super Global High School, a seat of learning where “future globalized leaders” can be fostered.
- Payments firms Mastercard, Visa and Stripe have all quit Facebook’s Libra project, after a slew of regulatory pressure, with eBay also following suit. The first official meeting of the Libra Council takes place today in Geneva, Switzerland, and Facebook’s blockchain lead David Marcus tweeted that “in a way” the news of the departures was “liberating.”
- AhnLabs, one of South Korea’s biggest software companies, has joined the Klaytn Governance Council, reports media outlet Herald. Klaytn is the blockchain brainchild of the Kakao Group’s Ground X subsidiary, and its council already comprises some of South Korea’s largest tech firms. AhnLabs is founded by Ahn Cheul-soo, a highly influential politician and entrepreneur. He is a former presidential candidate and the former leader of the third largest party in parliament, the Bareumirae Party. AhnLabs is most famous for its antivirus software.
- -…and also in South Korea, blockchain companies are targeting dog owners with a new blockchain and cryptocurrency-powered pet care project. The platform, reports Sky eDaily, will allow pet owners to commission special dog taxis for their pets and pay for vetianary surgeon visits using “blockchain pet tokens.”