Belfrics starts to work in India, Vitalik Buterin criticizes nChain, Switzerland helps blockchain companies, Hong Kong partners Abu Dhabi, the US Congress warns of crypto terrorism, the Philippines changes fiat to crypto
- Cryptocurrency exchange Belfrics has resumed trading operations in India after halting earlier this year due to banks refusing to provide payments solutions to the exchange and RBI ban.
- Vitalik Buterin has openly criticized blockchain research company nChain’s latest patent award for ‘digital security invention’, calling for opponents to challenge it in court.
- The Financial Director of Zug, Switzerland, Heinz Tännler called on the Swiss Bankers Association (SBA) to create a working group to help blockchain companies open bank accounts since he is concerned about the risk of losing business to countries with more friendly banking environments.
- The Hong Kong Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) signed a cooperation agreement to enhance fintech collaboration by building a cross-border trade finance network using a distributed ledger technology.
- Speakers at the congressional hearing of the Subcommittee on Crime and Terrorism voiced their concerns about the potential for using cryptocurrencies to make illegal campaign donations.
- The Central Bank of the Philippines (BSP) revealed that conversions from peso to cryptocurrency averaged $36.74 million per month in the first quarter 2018. The BSP recognizes the benefits of using digital currencies in terms of faster, cheaper transactions, but is worried about potential use for crime and other cybersecurity risks.