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BitDigest July 22 · Issue #705

Jul 22, 2020
Author
Gregory Landegger
Gregory Landegger
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  • Crypto prices continuing to trade sideways
  • Numerous governmental announcements supports that ‘China Knows Blockchain’
  • Singapore’s Monetary Authority wants to increase its jurisdictional scope over crypto services provided by Singaporeans outside its country
BitDigest July 22 · Issue #705

The Headlines

BitDigest July 22 · Issue #705

MAS Proposes Expanding Crypto Oversight Outside Singapore

www.mas.gov.sg
The Monetary Authority of Singapore (MAS) is proposing a new ACT to expand the scope of its oversight over digital token activities by persons in Singapore providing services outside of the country.
BitDigest July 22 · Issue #705

Philippines to Issue Bonds on Blockchain

www.business.inquirer.net
The Philippine Bureau of the Treasury is launching a blockchain-based mobile app to allow its citizens to purchase government bonds to support the economic recovery and COVID-19 response.”
BitDigest July 22 · Issue #705

China's Supreme Court Wants to Improve Digital Asset Ownership Rights

www.coindesk.com
China’s Supreme Court has issued new guidelines specifying that the legal system should enhance protections over new types of ownership rights such as digital currencies, online virtual assets and data.
BitDigest July 22 · Issue #705

China's BSN Integrating with Decentralized Blockchains to Extend Global Reach

www.coindesk.com
China’s Blockchain Service Network is planning to open its services to developers of decentralized applications on August 10th and announced it has integrated its three datacenters in Paris, San Francisco and Hong Kong with six decentralized blockchains: Tezos, NEO, Nervos, Cosmos’ IRISnet, Ethereum and EOS.
BitDigest July 22 · Issue #705

China Looking to Bring Blockchain to Equity Markets

www.cointelegraph.com
China’s Securities Regulatory Commission has approved five regional equity markets (Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen) to begin experimenting with blockchain technology to facilitate equity registration, custody, and transaction transfers.
BitDigest July 22 · Issue #705

South Korea Finalizes Plan to Charge 20% Crypto Tax

www.theblockcrypto.com
South Korea has finalized its plan and is submitting an amendment of tax code to charge a 20% tax on annual income above 2.5 million won (~$2,000) generated from cryptocurrency transactions.
BitDigest July 22 · Issue #705

Kazakhstan Looking at Crypto to Fight Corruption

www.cointelegraph.com
Kazakhstan’s anti-corruption service has called on its government to develop a national digital currency to help fight corruption in the country by providing a more transparent financial system and allowing to significantly reduce transaction costs.
BitDigest July 22 · Issue #705

CipherTrace Introduces Risk Scoring for Crypto Transaction

www.finance.yahoo.com
Blockchain analytics firm CipherTrace has released a predictive, real-time crypto transaction risk scoring system to help traders, custodians and payment processors comply with Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and sanction requirements.
BitDigest July 22 · Issue #705

Dr. Seuss NFTs Coming to Blockchains

www.prnewswire.com
Dapper Labs has partnered with Dr. Seuss Enterprises to create a series of digital collectibles from iconic characters in the Cat in the Hat, The Lorax, Horton, Thing One and Thing Two, and other Dr. Seuss stories.

Market Data

BitDigest July 22 · Issue #705

Tether About to Pass Bitcoin in Daily Transaction Value

www.bloomberg.com
The aggregate daily dollar value of Tether (USDT) transactions is about to surpass the value of daily bitcoin transactions – and this does not include transactions that occur within crypto exchanges, where Tether often serves as a conduit to conduct trading between different coins.
BitDigest July 22 · Issue #705

Q2 BTC State of the Network Report

www.studio.glassnode.com
👍Glassnodes has released its latest quarterly update of on-chain analysis on the bitcoin (BTC) network and its surrounding ecosystem through a non-exhaustive use of both established and more exotic metrics.

Thoughts on the Ecosystem

BitDigest July 22 · Issue #705

Pierce Explains Her Objection to Telegram Case

www.sec.gov
👍Securities and Exchange Commissioner Hester Pierce disagrees with the SEC’s enforcement actions against Telegram and does “not support the message that distributing tokens inherently involves a securities transaction.”
BitDigest July 22 · Issue #705

Fed Has No Immediate Plans to Launch Digital Dollar

www.theblockcrypto.com
The Federal Reserve Bank of Boston Robert Bench says that the Fed has no immediate plans to launch a digital currency but admitted that work is being done that could help prepare the Fed to release a digital dollar in the future.

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