The ECCB is the monetary authority for a group of eight island economies in the Caribbean,
Christine Lagarde, the head of the International Monetary Fund (IMF), said the technology behind cryptocurrencies could also be used to regulate them.
In an IMF blog post on Tuesday, Lagarde said that she believes regulators can use blockchain technology to regulate bitcoin and other cryptocurrencies and prevent them from being used in connection with money laundering and other financial crimes.
Financial messaging provider SWIFT has successfully conducted a distributed ledger technology (DLT) proof of concept (PoC) for Nostro accounts reconciliation with 34 banks. A Nostro account is a bank’s account in a foreign currency in another bank.
The proof of concept,
The government of Malta has unveiled a consultation document on the establishment of the Malta Digital Innovation Authority (MDIA), a regulatory authority which will “certify” blockchain platforms and “verify” crypto transactions.
Speaking at the launch of the public consultation, Digital Economy Parliamentary Secretary Silvio Schembri said the new authority would not only act as a regulator and watchdog for the crypto sector,
The South African Reserve Bank (SARB) is launching a Financial Technology Program to assess the emergence of FinTech in a structured and organized manner, and to consider its regulatory implications.
The main objective of the program is to trial distributed ledger technology (DLT).
The government of Gibraltar and the Gibraltar Financial Services Commission (GFSC) have announced that they will be developing a draft law that will regulate initial coin offerings (ICO) in the British overseas territory.
According to reports, Gibraltar has decided to roll out ICO regulations primarily because the world has grown increasingly concerned over the rapid growth of the cryptocurrency sector as of late.
Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), hopes that blockchain technology will not be affected if there is an eventual crash in the price of cryptocurrencies.
Singapore’s central bank is among many global regulators voicing concern about the risks in investing in cryptocurrencies such as bitcoin.
The Gibraltar Blockchain Exchange (GBX) will hold a public initial coin offering (ICO) on February 7, which will run until February 14. The public ICO follows a successful pre-sale last month in which GBX raised over $21 million USD.
GBX is a subsidiary of the Gibraltar Stock Exchange (GSX),
The Royal Bank of Scotland (RBS) has reportedly refused to process orders from blockchain firms based in Gibraltar. The news came a few days after the country started licensing distributed ledger technology (DLT) companies.
A regulatory framework for companies using DLT went into effect in Gibraltar on January 1.
A regulatory framework for companies using distributed ledger technology (DLT) for the transmission or storage of value went into effect in Gibraltar on January 1. DLT firms will now have to apply for a license from the Gibraltar Financial Services Commission (GFSC).
The regulatory framework was introduced by Minister of Commerce Albert Isola in October.