Category: Government

Blockchain Adoption Tracker

The Central Bank of Korea Reveals Possible Plans for Central Bank Digital Currency (CBDC)

In its 2022 Payment and Settlement Systems Report, The central Bank of Korea (BOK) revealed that it has been experimenting with the idea of implementing a Central Bank Digital Currency (CBDC).

Central Bank

Government

By Elizabeth Morrison

Published:July 20, 2023

1 min read

Blockchain Adoption Tracker

King Charles Provides Royal Assent to UK Crypto Bill

The Financial Services and Markets Bill, introduced in the United Kingdom and that classifies crypto as a regulated financial activity, has been given Royal Assent by King Charles. This step makes the Bill an Act, thus making it law.

Government

By Elizabeth Morrison

Published:June 29, 2023

1 min read

Blockchain Adoption Tracker

Japan’s Financial Services Authority Joins “Project Guardian” Initiative by Monetary Authority of Singapore

The Financial Services Authority (FSA) of Japan has revealed its involvement in the "Project Guardian" initiative, led by the Monetary Authority of Singapore (MAS).Launched in May 2022, this collaboration will investigate the potential of implementing digital technologies across different asset classes while upholding financial stability and integrity as top priorities.

Digital Asset Custody

Government

Tokenization

Traditional Finance (TradFi)

Wealth Management

By Elizabeth Morrison

Published:June 27, 2023

1 min read

Blockchain Adoption Tracker

The Monetary Authority of Singapore Reports Outcomes from Project Guardian

After three trials of analyzing infrastructure frameworks for facilitating the trading of tokenized assets, the Monetary Authority of Singapore (MAS) has shared observations in its Project Guardian report.Project Guardian analyzed various platform types, asset types, and network access options with a focus on best practices. Although observations are shared from three test cases, Project Guardian does not endorse any specific option.

Digital Asset Custody

Government

Tokenization

Traditional Finance (TradFi)

Wealth Management

By Elizabeth Morrison

Published:June 26, 2023

1 min read

Blockchain Adoption Tracker

Kenya Proposes 3% Tax on Digital Assets

Kenya's Finance Ministry is proposing a 3% tax on cryptocurrency transfers and digital assets as part of its 2023-2024 budget plan, as other sources of funding are proving to be expensive or not accessible. This move is an attempt to increase revenue collection by the East African nation, which will see a 14% increase in revenue in the coming fiscal year if this proposal is accepted in June.

Regulation

Government

Taxation

By Elizabeth Morrison

Published:May 4, 2023

1 min read

Blockchain Adoption Tracker

Bank of Japan to Pilot Test the “Digital Yen”

The Bank of Japan shared that it will launch a pilot program to test its central bank digital currency (CBDC), the “Digital Yen,” in April 2023. The institution kicked off a proof-of-concept in April 2021 in which it built an experimental environment centered around a CBDC ledger, which is the foundation of a CBDC system.

Central Bank

Government

By Elizabeth Morrison

Published:April 19, 2023

1 min read

Interview

Use Non-Blockchain Precedents as a Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

Many companies are in a catch-22 when it comes to working with blockchain. On the one hand, organizations are fearful of doing nothing with blockchain because they know how, in the hands of a clever competitor, distributed ledger technology could be used to disrupt their businesses or industries. On the other hand, those same organizations also know blockchain laws are coming but not when or in what form. Meanwhile, regulators at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have embarked on a startling wave of enforcement activities against blockchain-related projects.

NFT.NYC

Compliance

Government

Legal

By David Berlind

Published:April 18, 2023

Blockchain Adoption Tracker

The Central Bank of the UAE (CBUAE) selects R3, G42 Cloud and Clifford Chance to assist CBUAE in implementing its CBDC Strategy

The Central Bank of the UAE (CBUAE) is investing in a digital transformation initiative and has launched its CBDC investment strategy. This CBDC strategy is aimed at relieving the challenges of cross-border payments, and furthering financial inclusion and payment infrastructure in the UAE.

Central Bank

Government

By Elizabeth Morrison

Published:April 4, 2023

1 min read

Interview

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out of distributed ledger technologies (DLT) including blockchain. Among her many very well-informed opinions about blockchain adoption is her advice to enterprises to not sit idly by while other entities—existing competitors, disruptive startups, regulators, and lawmakers—sort out their positions on blockchain.

DC Blockchain Summit

Government

Regulation

By David Berlind

Published:April 1, 2023

Interview

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers, employees, stockholders, etc.). The problem, according to Bondar, exists across the board and impacted businesses of all sizes in all industries. During this interview with Blockchain Journal editor-in-chief David Berlind, Bondar said that in healthcare, only 23 percent of clinicians trust their leadership and it's even worse for nurses (15 percent). In the technology space, only 40 percent of consumers trust tech companies to maintain and safeguard their data.

DC Blockchain Summit

Regulation

Government

By David Berlind

Published:April 1, 2023

Primer

Despite an Ever-Shifting Regulatory Minefield, Enterprise Blockchain Projects Find a Way to Tip Toe Forward

Despite significant regulatory uncertainty when it comes to cryptocurrency and blockchain laws in the US, enterprises have little choice but to lean into the technology’s disruptive potential. Either that, or risk disruption.

DLT Strategy

Regulation

Government

By William Van Winkle

Published:March 31, 2023

12 min read

Interview

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organization's role in the battle for human rights and democracy in the 21st century. Kozlovska is a native of Ukraine and has been instrumental in the flow of cryptocurrency donations to fund the acquisition and supply of everything from humanitarian aid to weapons to the front lines of the many battles taking place between freedom and oppression. In fact, to the extent that a violent war undermines the store and transfer of fiat currencies, cryptocurrency has played a surprising and unique role in bankrolling Ukraine's fight against Russia.

DC Blockchain Summit

Regulation

Government

By David Berlind

Published:March 30, 2023

Blockchain Adoption Tracker

International Monetary Fund Advises Central Bank of Jordan on CBDC Implementation

The International Monetary Fund (IMF) has provided recommendations to the Central Bank of Jordan regarding the implementation of a retail Central Bank Digital Currency (rCBDC). The bank is closer to finalizing its rCBDC with the completion of the technical report provided by the IMF after a 3-month analysis.

Central Bank

Government

By Elizabeth Morrison

Published:February 23, 2023

1 min read

Blockchain Adoption Tracker

California DMV is Testing Car Titles as NFTs

California Department of Motor Vehicles (DMV) has teamed up with Tezos and Oxhead Alpha to test using the Tezos public distributed ledger to distribute digitized car titles as non-fungible tokens (NFTs). Once titles-as-NFTs are on-chain, the collaboration should also transform the process of downstream title transfers as well (similar to how other NFTs are transferred on the secondary market).

NFT

Government

Multi-Party Transparency

By Elizabeth Morrison

Published:January 27, 2023

1 min read

Primer

Business Professional’s Introduction To Understanding the Blockchain Regulatory Landscape

For enterprises and other businesses looking to leverage distributed ledger technology for competitive advantage, the regulatory uncertainty surrounding blockchain and cryptocurrency has turned hope of compliance into a moving target. By the time you’re done reading our multi-part series, you’ll be smarter than the average lobbyist.

Regulation

Government

Legal

By William Van Winkle

Published:January 4, 2023

19 min read

Primer

Why Blockchain Regulation is More Like an SEC vs. CFTC Cage Match

While the SEC and CFTC attempt to map the subtle legal distinctions between securities and commodities to the nuanced properties of the many different cryptocurrencies, enterprises must seek safe passage from a compliance point of view until the regulatory dust settles. But the jockeying for jurisdiction is far from over.

Regulation

Government

Legal

By William Van Winkle

Published:January 4, 2023

19 min read

Blockchain Adoption Tracker

JPMorgan Successfully Executes Its First DeFi Transaction on a Public Blockchain

The first public blockchain transaction by JPMorgan was executed as a part of The Monetary Authority of Singapore (MAS)’s Project Guardian’s digital asset and bond tokenization pilot (one of eight different pilots under the Project Guardian umbrella).

Digital Asset Custody

Government

Tokenization

Traditional Finance (TradFi)

Wealth Management

By Elizabeth Morrison

Published:November 3, 2022

1 min read

Blockchain Adoption Tracker

Japan’s SBI Digital Asset Holdings Joins Project MAS’ Guardian

Launched in May, the Monetary Authority of Singapore (MAS)’s Project Guardian includes a variety of pilots, one of which is a program that focuses on digital assets using tokenization on public blockchains. Today, Japan’s SBI Digital Asset Holdings joined that pilot alongside JPMorgan and DBS Bank.

Digital Asset Custody

Government

Tokenization

Traditional Finance (TradFi)

Wealth Management

By Elizabeth Morrison

Published:September 22, 2022

1 min read

Blockchain Adoption Tracker

The Monetary Authority of Singapore (MAS) Announces Project Guardian

The Monetary Authority of Singapore (MAS) has introduced Project Guardian, a pilot initiative focused on digital assets using tokenization on public blockchains. The project includes established financial institutions operating as “trust anchors.” One of the project’s initial pilots will involve tokenized foreign exchange and government bond transactions and includes participation from JP Morgan, DBS Bank, and Marketnode, a joint venture between the SGX Group and Temasek. SGX is Singapore’s stock exchange.

Digital Asset Custody

Government

Tokenization

Traditional Finance (TradFi)

Wealth Management

By Elizabeth Morrison

Published:May 31, 2022

1 min read

Blockchain Adoption Tracker

Liechtenstein Plans to Add Bitcoin as Payment Option for Government Services

Liechtenstein, a small European country known for its favorable regulatory environment for fintech and blockchain startups, is considering allowing its citizens to pay for government services with Bitcoin, according to a recent announcement by the country's Prime Minister, Daniel Risch. The Bitcoin would be instantly exchanged for Swiss francs, the country’s national currency.

Payments

Government

By Elizabeth Morrison

Published:May 23, 2022

1 min read

Blockchain Adoption Tracker

Switzerland City of Lugano Announces Bitcoin, Tether, and LVGA as Legal Tender

The southern Swiss city of Lugano has partnered with iFinex, Inc. to allow local businesses to accept Bitcoin, Tether, and LVGA for payments. Additionally, its residents will be able to pay taxes, parking tickets, public services, and tuition fees using the supported cryptos.

Payments

Government

By Elizabeth Morrison

Published:March 3, 2022

1 min read

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Interview

Use Non-Blockchain Precedents as a Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

Many companies are in a catch-22 when it comes to working with blockchain. On the one hand, organizations are fearful of doing nothing with blockchain because they know how, in the hands of a clever c...

NFT.NYC Compliance Government Legal

By David BerlindPublished:April 18, 2023

Interview

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out o...

DC Blockchain Summit Government Regulation

By David BerlindPublished:April 1, 2023

Interview

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers,...

DC Blockchain Summit Regulation Government

By David BerlindPublished:April 1, 2023

Interview

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organ...

DC Blockchain Summit Regulation Government

By David BerlindPublished:March 30, 2023

Category: Government

articles

All Articles

The Central Bank of Korea Reveals Possible Plans for Central Bank Digital Currency (CBDC)

King Charles Provides Royal Assent to UK Crypto Bill

Japan’s Financial Services Authority Joins “Project Guardian” Initiative by Monetary Authority of Singapore

The Monetary Authority of Singapore Reports Outcomes from Project Guardian

Kenya Proposes 3% Tax on Digital Assets

Bank of Japan to Pilot Test the “Digital Yen”

Use Non-Blockchain Precedents as a Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

The Central Bank of the UAE (CBUAE) selects R3, G42 Cloud and Clifford Chance to assist CBUAE in implementing its CBDC Strategy

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

Despite an Ever-Shifting Regulatory Minefield, Enterprise Blockchain Projects Find a Way to Tip Toe Forward

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

International Monetary Fund Advises Central Bank of Jordan on CBDC Implementation

California DMV is Testing Car Titles as NFTs

Business Professional’s Introduction To Understanding the Blockchain Regulatory Landscape

Why Blockchain Regulation is More Like an SEC vs. CFTC Cage Match

JPMorgan Successfully Executes Its First DeFi Transaction on a Public Blockchain

Japan’s SBI Digital Asset Holdings Joins Project MAS’ Guardian

The Monetary Authority of Singapore (MAS) Announces Project Guardian

Liechtenstein Plans to Add Bitcoin as Payment Option for Government Services

Switzerland City of Lugano Announces Bitcoin, Tether, and LVGA as Legal Tender

No glossary terms for category Government. Please try again.

Use Non-Blockchain Precedents as a Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

Many companies are in a catch-22 when it comes to working with blockchain. On the one hand, organizations are fearful of doing nothing with blockchain because they know how, in the hands of a clever c...

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out o...

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers,...

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organ...

Category: Government

articles

All Articles

.css-1ylevsm{color:#FFFFFF;margin-bottom:16px;}The Central Bank of Korea Reveals Possible Plans for Central Bank Digital Currency (CBDC)

No glossary terms for category Government. Please try again.

Use Non-Blockchain Precedents as a Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

Many companies are in a catch-22 when it comes to working with blockchain. On the one hand, organizations are fearful of doing nothing with blockchain because they know how, in the hands of a clever c...

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out o...

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers,...

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organ...

The Central Bank of Korea Reveals Possible Plans for Central Bank Digital Currency (CBDC)