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Presidential Hopeful Andrew Yang Plans to Regulate Crypto Industry

Democratic 2020 presidential candidate Andrew Yang has outlined how he plans to regulate the cryptocurrency industry. Promise to promote legislation on cryptocurrencies On Nov. 14, Yang, an entrepreneur, lawyer, philanthropist and a Democratic candidate in the 2020 United States presidential election, wrote in a Nov. 14 blog post on the tech industry that cryptocurrencies experience the levels of fraud that they do because of lack of adequate regulations. He said: “Other countries, which are ahead …

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Chinese Blockchain Spending to Exceed $2B by 2023

China’s spending on blockchain technology will exceed $2 billion in 2023, official state-run publication Xinhua reported on Nov. 10. The report claims that blockchain development in China will see a compound annual growth rate of 65.7% from 2018 to 2023. China’s banking sector responsible for the bulk of blockchain spending in 2019 Citing a study by American market intelligence firm IDC published on Nov. 7, the report says that the bulk of China’s blockchain spending …

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Shanghai Gov’t Partners With 6 Banks on Blockchain Alliance for Trade

The municipal Shanghai government has joined forces with financial institutions to create an alliance to foster the use of blockchain for global trade.  The Global Times reported on Nov. 7 that during the China International Import Expo earlier today, the Shanghai Municipal Commission of Commerce, Shanghai Customs and representatives from six bank branches — including the People’s Bank of China and Bank of Communications — signed a Blockchain Alliance proposal for the city’s e-port area. …

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Crypto News From the German-Speaking World: Nov. 3-10

The past week has marked a number of crypto- and blockchain-related developments in the German-speaking world. Malta Enterprise partnered with Deutsche Telekom’s IT service subsidiary to offer its blockchain-as-a-service (BaaS) marketplace, French IT company Atos and Austrian startup Smart Digital proposed industrial plant inspections using blockchain, and the German Federal Financial Supervisory Authority (BaFin) launched a market survey on crypto assets derivatives. Below is the past week of crypto and blockchain news in review, as …

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Turkey to Finish Testing Digital Lira in 2020

Turkey’s President Recep Tayyip Erdogan directed that the government should finish testing the national central bank digital currency (CBDC) in 2020. The country’s national blockchain-based digital lira is planned to be issued by the Central Bank in accordance with the 2020 Annual Presidential Program, Cointelegraph Turkey reported on Nov. 5. Digital lira ‘instant payment’ pilots should be finalized by the end of 2020 Published on Nov. 3, the Presidential Program specifies that the first trials …

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New Official Register in San Marino Recognizes and Regulates Blockchain Firms

The Republic of San Marino has officially adopted the Register of Blockchain Entities, inviting companies in the industry to apply for certification. Companies can apply for blockchain certification online The project was initiated by San Marino’s fully state-owned tech innovation company, the Institute for Innovation of the Republic of San Marino, Cointelegraph Italia reports Oct. 22. According to local public service broadcaster San Marino RTV, companies in the microstate of San Marino can now apply …

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Bahrain to Provide Fast-Track Setup Program for Fintech Startups

The Bahrain Economic Development Board (EDB) has introduced a new program to attract more startups to the country. According to a press release on Oct. 29, the investment promotion agency for the Kingdom of Bahrain has introduced a fast-track setup program for startups looking to do business there. The new initiative will provide an expedited entry process covering visa requirements, residency and business registration processes. It also offers guidance from the country’s incubators and accelerators, …

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Binance Rumored to Be Planning New Office in Beijing in First Presence in China Since 2017

Major crypto exchange Binance may be returning to China, with a planned office to open in Beijing, sources say. Binance in exile Binance, which left China in September 2017 in response to the country’s ban on crypto trading, is looking to open a new office in Beijing to accompany one operating in Shanghai, two unnamed sources told Coindesk, Oct. 31.  As of press time, sources at Binance had not confirmed to Cointelegraph plans to establish …

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Canada Pushes to Regulate Crypto Adoption, Forgoing Volatile BTC Past

Recently, Canada’s central bank has been leading working groups with global partners exploring a blockchain future. Their crypto presence has soared with Ernst & Young’s announcement that it is using Toronto to test its public government expenditure blockchain. But what is the cryptocurrency landscape currently like in Canada?  The history of crypto in Canada may seem as volatile as a token with a small market cap, yet mainstream use and adoption have been on a …

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Association of Prive German Banks Argues for Digital Euro

German banks have presented a position paper in which they make several arguments for the digital euro. On Oct. 30, in a paper released by the Association of German Banks (Bankenverband), which represents more than 200 private commercial banks and eleven member associations, banks stated that the “economy needs a programmable digital euro.” Monetary policy is the state’s responsibility, says Bankenverband The paper states that the responsibility for the monetary system lies with sovereign nation-states …

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