Russian State Duma Defers Consideration of Bill On Digital Financial Assets

The State Duma of the Russian Federation has deferred consideration of the bill “On Digital Financial Assets” to April 2019,  local media outlet TASS reported on March 20. The second reading of the draft federal law “On Digital Financial Assets” has reportedly been rescheduled for April, following a decision made at the morning voting on the agenda of the plenary session. The initiative was taken by the Chairman of the State Duma Committee on Financial Market, Anatoly Aksakov, although he did not explain his motives. The bill “On Digital Financial…

Why Some Banks Issue Their Own Digital Tokens, While Others Don’t

This week, a number of banks shed light on their respective crypto-related projects, following the recent expansion of JPMorgan Chase into the field. IBM was the big mover. A joint announcement by IBM and Stellar (XMR) said that as many as six global banks might issue their own stablecoins on IBM’s blockchain-powered payments network, dubbed “Blockchain World Wire” (BWW). The question now is whether this marks a turning point for cryptocurrency’s use, or if it merely continues the experiments that have marked the early stages of digital money. While quite…

Digital Asset Holdings Gets Permanent CEO 3 Months After Blythe Masters Leaves

United States distributed ledger technology (DLT) provider Digital Asset Holdings has appointed a new permanent CEO after Blythe Masters quit the post last year, the company confirmed in a press release on March 19. Digital Asset, which Masters began running in 2015, specializes in building DLT-based solutions for various financial entities. Founded in 2014, the company remained with a temporary CEO — chairman of the firm’s board, AG Gangadhar — for three months after Masters confirmed her departure in December. Now, the slot will be filled by Yuval Rooz, Digital…

Blockchain Startup Bison Trails Receives $5.25 Mln Investment Backed by Galaxy Digital

New blockchain startup Bison Trails has received an investment of $5.25 million in a seed round backed by Mike Novogratz’s crypto merchant bank Galaxy Digital. The firm announced the fundraising in a Medium post on March 15. Led by two early stage venture capital firms Initialized Capital and Accomplice, the series seed round was also backed by both Galaxy Digital and blockchain-focused asset management firm Distributed Global. Other investors included Notation Capital, Homebrew and Charge Ventures. Bison Trails’ blockchain infrastructure is designed to offer a way to launch secure, available…

SEC’s Senior Advisor for Digital Assets Valerie Szczepanik: Stablecoins May Be Securities

Senior advisor for digital assets at the United States Securities and Exchanges Commission (SEC) Valerie Szczepanik reportedly noted that stablecoins could experience issues under current securities laws. Blockchain-related news website Decrypt reported her comments on March 16. Szczepanik, also known as the Crypto Czar, was appointed to the new position of associate director of the Division of Corporation Finance and senior advisor for Digital Assets and Innovation for Division Director Bill Hinman in June of 2018. When Szczepanik reportedly made the statement concerning securities at Austin’s SXSW conference on March…

SEC’s Finhub to Host Public Forum on Blockchain, Digital Assets in May

United States regulator the Securities and Exchange Commission (SEC) has announced that it is hosting a public forum on distributed ledger technology (DLT) and digital assets this May. The news was revealed in an SEC press release today, March 15. The commission’s Strategic Hub for Innovation and Financial Technology (Finhub) has organized the event — dubbed the Fintech Forum — which will take place on May 31, 2019. The press release reports that the forum will include industry experts as panelists and is “designed to foster greater communication and understanding…

Thailand’s Stock Exchange Plans to Roll Out Digital Asset Platform in 2020

The Stock Exchange of Thailand (SET) plans to roll out its digital asset platform in 2020, according to an official statement released on March 13. Following recent reports purportedly revealing the plans, the SET has confirmed that it will build a digital asset platform as a part of its three-year strategic plan from 2019 to 2021. In the announcement, the Thai exchange claimed that the local capital market will experience a transformation into the digital age in two areas. The first field will be a complete digitization of the capital…

Nasdaq-Powered EU Digital Exchange DX Launches Security Token Trading

Estonia-based Nasdaq–powered digital trading platform DX.Exchange is claiming an industry first with its launch of security token trading and security token offering (STO) listings. The development was shared with Cointelegraph in a press release on March 14. As previously reported, DX.Exchange went live in January, with support for various fiat and cryptocurrency trading pairs and tokenized stocks. In March, the platform added tokenized exchange-traded funds (ETFs) to its supported products. According to the press release, the platform now allows investors to purchase security tokens using both fiat and major cryptocurrencies…

Digital Currency Group, Polychain Back UK Crypto Futures Exchange Coinflex

Physically delivered crypto futures exchange Coinflex has attracted two more high-profile crypto investors, Digital Currency Group and Polychain Capital, the exchange tweeted on March 12. The new investors have joined Coinflex’s investor consortium, which includes major market making and venture capital names such as Dragonfly Capital Partners, Trading Technologies and Roger Ver. In the same announcement, Coinflex introduced its FLEX Coin, which is designed to encourage liquidity and reward early traders on the platform. Traders will be paid a certain amount of FLEX based on the proportion of the volume…

Russia Adopts Digital Rights Law That ‘Forms the Basis’ of Digital Economy Development

Russia’s parliament, the State Duma, has voted to enact new digital rights legislation in October this year, according to a press release on the Duma’s official website on March 12. The changes to Russia’s civil codex passed their third and final Duma reading on Tuesday. The law reportedly establishes the concept of “digital rights” in Russian legislation with the addition of a new article, 141.1, of the Civil Code of the Russian Federation. The law determines how digital rights can be exercised and transferred, as well establishes rules for digital…