Crypto Weekly – March 15
A summary of select stories from the cryptocurrency and blockchain world during this week.
CBOE Not Adding Bitcoin Futures Contract For Trading In March
The Chicago Board Options Exchange or CBOE said it is not adding a Cboe Bitcoin or XBT futures contract for trading in March. As per the statement, Cboe Futures Exchange, LLC or CFE, which adds the contracts, is re-evaluating how to approach trading of digital assets. However, the exchange said the currently listed bitcoin futures contracts remain available for trading. XBTM19, the currently listed bitcoin futures, will expire in June.
French Commercial Court Clerks to Use IBM Blockchain for Corporate Registry
France’s National Council of Clerks or NCC, the representative entity of commercial courts’ clerks, has successfully deployed an IBM blockchain network, to streamline the management of commercial and corporate registry. Clerks can now use the blockchain network to record and share information related to two things – the exchanges of regulatory information related to companies’ difficulties, and the changes of status of the company registered on the French territory.
Marshall Islands Passes Bill To Adopt SOV As State Digital Currency
The Marshall Islands passed a bill to adopt the Sovereign (SOV) as the island nation’s national digital currency. Only two countries in the world have adopted cryptocurrency officially. The first one is Venezuela, which last year launched its own cryptocurrency – Petro – backed by crude oil reserves. IMF warned that US banks will refuse to work with Marshall Islands businesses if the national crypto is adopted, thus cutting off banking services to the islands’ residents.
Basel Committee Guidelines for Banks on Entering Cryptocurrency Market
The Basel Committee, a group of regulators under the Bank for International Settlements (BIS), stated that crypto-currencies do not reliably provide the standard functions of money and are unsafe to rely on as a medium of exchange or store of value. The Committee also warned that if a bank decides to acquire crypto-assets or provide related services, they should adopt due diligence, governance and risk management, disclosure and supervisory dialogue.
US imposes sanctions on Russian financier of Venezuela’s Petro
The U.S. Department of the Treasury designated Evrofinance Mosnarbank, a Moscow-based bank that is jointly owned by Russian and Venezuelan state-owned companies, for supporting Venezuelan state-owned oil company Petroleos de Venezuela S.A. (PdVSA), which has already been targeted by Washington for corruption, embezzlement, and money laundering by the Maduro regime.
Trailer for crypto-centric crime thriller released
The trailer of the first crypto currency-centric movie from Hollywood has been released. The John Stalberg Jr.-directed movie, titled “Crypto – Fear is the ultimate currency” will be screened in select theaters on April 12. The initial response to the film was encouraging, as the trailer was viewed more than 312,000 times in 24 hours.
Bumble Bee Foods To Use Blockchain To Track Tuna From Ocean To Table
Shelf-stable seafood company Bumble Bee Foods LLC is teaming with German software giant SAP SE to create blockchain-based system to track fresh fish as more and more consumers demand to know their food is safe and sustainably sourced. In a statement, SAP said San Diego-based Bumble Bee Foods is using the SAP Cloud Platform Blockchain service to trace the journey of yellowfin tuna from the Indonesian ocean to the dinner table. SAP noted that Bumble Bee is the first food company to incorporate SAP block-chain technology into its production.
Multibillion-Dollar fake Cryptocurrency project leader arrested in US
US Federal agents arrested Konstantin Ignatov, the top leader of an international pyramid scheme that stole billions from investors through the marketing of a fraudulent cryptocurrency called OneCoin. Ignatov and his sister Ruja Ignatova – the founder and original leader of OneCoin – were indicted with charges of wire fraud, securities fraud, and money laundering offenses. Ruja Ignatova remains at large.
Bitmain co-founders in Forbes’ Billionaires List
Chinese Cryptocurrency mining chip firm Bitmain’s co-founders Jihan Wu and Micree Zhan are included in this year’s Forbes’ Billionaires List. While both are placed lower in ranking, Wu has the distinction of being among the world’s youngest billionaires. The 33-year-old cryptocurrency big shot is one among 71 billionaires under the age of 40.
Millennial women believe crypto can close financial gender gap
On International Women’s Day, leading cryptocurrency exchange Coinbase teamed up with research firm Qriously to ask more than 6,000 women in the US and the UK about their thoughts on money, the role of technology in the world, and the current financial system. There is a predominant sense among college educated women that technology will have a positive impact on the financial system in the next 10 years.
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