Australian government seeks Assistance and Access, only Petro for passports in Venezuela, ICO regulation in the UAE by 2019, ESMA assigns 1M for crypto regulation, crypto expert assigned as Minister of science, technology and IT in Japan, Israel to secure its messaging system with blockchain, Argentina’s economic crisis calls for Bitcoin ATMs
- Australian government seeks to pass a bill, Assistance and Access, that will allow the government the power to ask for assistance from companies to retrieve information, demand information from the company, and build features that allow it to access information with consent. This is seen as a threat to the decentralized use-cases of the blockchain that work on principals of privacy and protection. Similar attempts are being made by governments all across the globe.
- The Venezuelan government, from the coming week, will make it a mandate for citizens to pay for passports services in Petro, the oil-backed cryptocurrency of Venezuela. Report from Bloomberg suggests the registration price is kept four times the monthly minimum wage in the country which will indeed make it more difficult for an average Venezuelan to fly across the border.
- The Blockchain enthusiasm soars to yet another level in the UAE with the news of allowing and regulating ICO in the first half 2019. Also, on 8th October, Live Bitcoin News reported the soon-to-happen partnership of Dubai with two crypto company in an attempt to give way to retail purchases, bills and school fees.
- European Securities and Market Authority has set aside a million euros to regulate the activities related to fintech and digital currencies. The annual work program of ESMA includes following the trends in both these industries to identify the risks involved in them.
- Takuya Hirai, a pro-blockchain enthusiast, has been appointed as the Minister of Science, Technology and IT in Japan. This is yet another measure of Japan towards making itself a more crypto-friendly country. Hirai was actively involved in the creation of regulations to legalize crypto exchanges in 2017, and now he will be acting as the leader of the government’s policy in regard to blockchain and other nascent technologies.
- Israel Securities Authority seeks the cover of blockchain to secure the internal messaging and information system. The Times of Israel reported that ISA describes its move as the addition of ‘another layer to ensuring credibility’ of information relayed to bodies under its jurisdiction. IT company Taldor has been assigned the task for this integration. They also have plans to integrate blockchain to their voting system, Etsba-on, and to Magna, a system used for recording reports received by bodies under the ISA.
- The economic crisis of Argentina has given way for the installation of Bitcoin ATMs in the country. Almost 30 ATMs are expected to be installed by the end of this year. As of now, the country has 2 Bitcoin ATMs, both of which are located in Buenos Aires.