Swiss Confederation’s parliament approved | weekly policy about encryption currency regulation bill; Beijing gold association risk prompt “IEO and other illegal financial activities

This week, the block chain and digital currency related positive and regulatory policies coexist.

In our country, strengthen the supervision of the overall trend, less favorable policies, Beijing Gold Association issued a risk warning, at IEO and other illegal public financing, to remind investors to guard against criminals, IEO IFO issued tokens to retrofit project, the state information center Zhu Youping also said that the IEO essentially still belongs to the illegal fund-raising behavior and communication activity”. Block chain technology in local area is slowly advancing, enabling the real economy, the agriculture committee will use block chain platform to solve the problem of rural supply side; Shandong province will promote the big data and cloud computing, the depth of integration block chain and virtual reality technology.

Internationally, favorable policies continue, the government of Commonwealth of Australia announced the national blockchain roadmap, and an additional $100 thousand subsidy; New York encryption currency operating license number is expected to increase in the next 12-24 months; the Singapore government will launch a professional jobs plan to promote the understanding of the block chain and other emerging industries; the United States Department of health and human services investment 7 million dollars, using the block chain technology procurement platform; the SEC ask for feedback on the encryption of assets and hosting rules; Swiss Confederation’s parliament approved on the encryption currency regulation proposal; U.S. lawmakers in Colorado bill 1247, suggested the formation of block chain advisory group.

Currency market

Bitcoin BTC at $3985.7, within 7 days of decline up to +2.48%;

The etheric Fang ETH at $136.13, within 7 days of decline up to +1.70%;

Reboxetine currency XRP reported $0.3103, within 7 days of decline up to -0.25%;

The above currency market data acquisition time for 3 2019 22 at 18 on 49.

Source: Invsting.com website Chinese station

This week the focus

Domestic plate

First, promote

To solve the problem of rural supply side West Agriculture Committee will use the blockchain platform

In March 15th, the Committee on rural development work with the Xi’an Agel Ecommerce Ltd in the city of Xi’an caotan Jean Conference Center signed a strategic cooperation agreement, the Committee on rural development work will rely on the Xi’an Jean block chain platform an important measure to comprehensively promote information villages and households, effectively solve the problems of Western Rural supply side. According to the national agricultural information technology research center director Zhao Chunjiang, block chain, big data, artificial intelligence technology to build a green supply chain of agricultural products, can open up the supply side and the consumer side circulation channels, optimize the supply chain.

Shandong province will promote the big data and cloud computing, the depth of integration block chain and virtual reality technology

In March 20th, the Shandong Provincial People’s Government Office issued a notice on the issuance of digital Shandong 2019 action plan. The circular pointed out, to accelerate the development of large data industry innovation, to promote the depth of integration of big data and cloud computing, artificial intelligence, networking, block chain, virtual reality technology.

Two, regulatory upgrades

Beijing Gold Association issued a risk warning, directed IEO illegal public financing behavior

In March 21st, Beijing Gold Association released on the prevention of “virtual currency” “ICO” “STO” “stable currency” and other variants of the name of illegal financial activities, risk warning, alert criminals to IFO, IEO and other items issued or retrofit tokens, under the banner of “sharing economy”, “economic card”, “raise” and “consensus economy” banner, in the way of IMO virtual currency speculation.

The state information center Zhu Youping: IEO essentially still belongs to the illegal fund-raising behavior and communication activities”

The state information center in the network management center, deputy director of the blockchain economist Zhu Youping “Beijing Gold Association released risk IEO illegal public financing behavior tips said: go outside heat, hot IEO, in our country is strictly prohibited. IEO essentially still belongs to the illegal fund-raising behavior and communication activities “, this policy is clear. Block chain is the value of the efficiency technology revolution. In the past, ICO STO, and has just launched IEO, the technology can not do business logic loop, prone to fraud, only through the policy to make up for the defects of the ban logic.

International plate

A good news

The government of Commonwealth of Australia announced the national blockchain roadmap, and an additional $100 thousand funding

In March 18th, the Commonwealth of Australia government announced a national chain block strategy and roadmap, and increase of 100 thousand Australian dollars ($71 thousand) funding, to boost the blockchain industry in australia. Minister of industry and the Ministry of science and technology, Australia Karen Andrews said the roadmap will focus on a series of development in the field of blockchain policy, including regulatory and technological progress and innovation, infrastructure, investment, international competitiveness and cooperation etc..

The encryption currency operating license number is expected to increase in the next 12-24 months

According to a report recently released by the Abacus Journal, the number of encryption currency operating license issued in New York is expected to increase in the next 12-24 months. At present, the New York legislature has introduced several encryption currency bill. The bill includes a crypto currency working group, the group will provide the extensive use of digital currency have potential impact on the country’s financial market information, will also provide local currency exchange in the State Encryption and other information exchange operations.

The Singapore government will launch a professional jobs plan, promote their understanding of the block chain and other emerging industries

The government appropriations bill Singapore President Halima before the date of approval, marking the Singapore 2019 budget came into effect. In terms of the development of its own staff, the Singapore government attaches great importance to the national quality education, create a good environment for the growth of talent, launched a professional conversion plan, so that they understand the block chain and other emerging industries, become talents.

The United States Department of health and human services, investment of $7 million, using the transformation of its procurement platform block chain technology

The United States Department of health and human services (HHS) are continuing to explore the blockchain technology, and to the BUYSMARTER / AI block chain plans to invest $7 million. The plan is to use block chain technology to transform HHS procurement platform. BUYSMARTER predicted that if the full implementation of the new system, which can save $720 million a year.

The South Korean government agency issued a 2018 South Korean financial enterprises of science and technology manual, block chain and virtual currency enterprises accounted for 9%

The Internet in Korea Development Institute (KISA) and the Ministry of information and communication technology (MSIT) released the 2018 Korean financial enterprises of science and technology handbook. The manual records of the 302 South Korean financial technology companies, funds in 100 million won the following accounts for 20.2%, 100 million won -10 billion won accounted for 45.1%, more than 1 billion accounted for 34.7%, 100 million -10 billion won among the most enterprises. From the field division, convenient remittance and payment and settlement of 55 enterprises, block chain and virtual currency enterprises 27.

Two, advance

CFTC is trying to audit the Bakkt proposal

The Commodity Futures Trading Commission (CFTC) chairman Dan Berkovitz said the agency is stepping up efforts to audit the Bakkt proposal. Although he refused to provide the deadline for approval, but he said the agency is not anti encryption or anti block chain, the agency is committed to the encryption market from fraud and manipulation in the rescue, not to fight the new technology.

The United States SEC to solicit feedback on encryption rules and managed assets

The United States Securities and Exchange Commission (SEC) is to solicit the views of the industry, because it might reconsider hosting rules existing in digital asset trading and settlement in particular. In March 12th, the United States SEC in an open letter to the chairman of the American Association of investment adviser and chief executive Karen Barr launched this information collection plan.

Japanese commercial law amendment to the “quasi Gold Exchange” licence to set a time limit

In March 15th, the Japanese cabinet approved the relevant strengthening of virtual currency trading restrictions “financial commodity trading act” and “settlement law” amendment. The new “financial commodity trading law” for encryption currency exchange for a licence to set a time limit: since April 2020 (the effective date of the amendment is expected), 18 months did not complete the license registration quasi exchange will not be allowed to operate. That is, if it fails to complete the registration before October 2021, will be forced to stop the service of the exchange.

FSA officials: the regulatory authorities should focus on the definition of encryption currency

March 11th, University of Tokyo Financial Education Research Center (CARF) held the “2018 annual forum on science and Technology Forum – no public financial cash under a future”. At the meeting, the meeting is the basic argument: encryption currency is speculative, as the settlement is useful, small influence on the financial system. Japan’s financial services agency market planning bureau staff officer Matsuo Motoshinobu said, in the discussion of the application of encryption currency, should pay attention to what is real encryption currency; only to see it (encrypted currency) by what the policy, this is the system of financial law issues. At present, compared to the application as the settlement means, more important is the encryption of money is a means of speculation, the regulatory authorities should focus on what it is, not that it had much effect.

Swiss Confederation’s parliament has approved a bill on encryption currency regulation

The legislature of the Swiss government, the Federal Parliament has approved a motion to amend the relevant provisions of the existing federal committee of judicial and administrative authorities, so that these Provisions also apply to the encryption of money. The bill aims to determine how to contain encrypted currency related risk, and whether the entity operating encryption trading platform should be equal to the financial intermediaries, and accept the supervision of financial markets.

Japanese finance minister Taro Aso: virtual currency name change does not mean that the definition and related to the change of tax system

In March 20th, Japan’s deputy prime minister and finance minister Taro Aso said that although the cabinet passed the virtual currency name to encrypt asset resolution, but earlier in the definition of “settlement law” has not changed, so in the tax system, the virtual currency tax belong to the “miscellaneous income” point of view has not changed.

The United States SEC received 84% applications on bitcoin ETF negative feedback

The United States SEC released in February 2019 on the application of bitcoin ETF consultation, recently, SEC received seven responses, six of them want the Commission to cancel the application bitcoin ETF, the negative rate was 84%, negative rate fluctuations around problems and market manipulation. The discussion about whether bitcoin ETF may have been delayed until the fourth quarter of 2019.

The United States lawmakers in Colorado bill 1247, suggested the formation of block chain Advisory Group

The United States of Colorado, four representatives and senators on Fridays (3 Sept. 18) jointly submitted a bipartisan House bill 1247, the recommendation of the Commissioner of the Ministry of agriculture set up an advisory group, the potential application of block chain technology in agricultural management in. Lawmakers have proposed several blockchain use cases, including the improvement of product “from the farm to the shelf” traceability, control inventory and monitoring site conditions.

Third, regulatory upgrades

Montana. Sura county plans to regulate the encryption.

Montana. Sura county (Missoula) meeting will be held in 4 at the beginning of the month, to discuss the draft regulations recently issued the mining encryption, and plans to regulate the mining measures including encryption, encryption mining device must bring their own renewable energy, such as solar energy, wind power or geothermal etc.. The draft pointed out that encryption mining consumes a lot of energy, will affect the environment.

Japan will limit the leverage of virtual currency trading

Japan’s cabinet has approved a draft amendment to the Japanese financial instruments and payment service law, restrictions will leverage the virtual currency trading is the initial deposit of 2 to 4 times. The new rules will come into effect on April 2020.

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