1. Austrian Government to Notarize $1.3 Billion Bond Auction Using Ethereum

The Austrian government is to use the ethereum blockchain to notarize the auction of a government bond worth €1.15 billion, or around $1.3 billion. The Federal Government’s Finance Agency (OeBFA) has assigned banking giant Oesterreichische Kontrollbank (OeKB) to carry out the auction on its behalf. The bank’s responsibilities will include deploying the notarization service to authenticate auction transaction data and subsequently store it on the blockchain, the agency explained. A news report indicated that OeKB has confirmed that it will use internal IT resources to oversee the deployment, which will utilize the ethereum blockchain to store the data as hash values on the public network. This is the Austrian government’s first move to adopt blockchain for domestic financial transactions, the OeBFA said, adding that it views the emerging technology as an “economic policy focus.”

2. US Judge Sides With CFTC in Fraud Case, Ruling Cryptos Are Commodities

A U.S. judge has sided with the Commodity and Futures Trading Commission (CFTC) in a lawsuit involving an allegedly fraudulent crypto investment scheme, ruling that the cryptocurrencies involved are commodities for the purpose of the case. The CFTC charged two individuals and a Las Vegas-based business called My Big Coin Pay over the alleged cryptocurrency-related scam back in January. Subsequently, the defendants filed a motion to dismiss the case on the grounds that the cryptos involved are not commodities and, as such, the CFTC has no jurisdiction over the case.

3. Chinese Banking Giant Issues $1.3 Billion in Securities on a Blockchain

Bank of Communications, one of the four state-owned commercial banks in China, has completed a major issuance of residential mortgage-backed securities (RMBSs) using a blockchain network. China Securities Times, the mouthpiece of Chinese financial regulators, reported on Thursday that the banking giant issued a total of 9.3 billion yuan (or around $1.3 billion) worth of RMBSs via its proprietary blockchain network, Jucai Chain. According to a document dated Sept. 27 that outlines details of the issuance, the Bank of Communications was the main issuer with China International Capital Corporation as lead underwriter and book runner for the offering. Other co-underwriters included the Industrial and Commercial Bank of China and China Merchants Bank. Other commercial banks in China have also recently announced various asset-backed security issuances via distributed networks.

1. SBI Ripple Asia Wins Payments License for Blockchain Money App

A joint venture between SBI Holdings and Ripple has moved a step closer to launching its blockchain-based payments app for consumers. SBI Ripple Asia announced Wednesday it has completed registration with the Kantou bureau of Japan’s Ministry of Finance as a licensed agent for handling electronic payments. The move clears the regulatory path for SBI Ripple Asia to roll out its MoneyTap payments app – one aimed to facilitate peer-to-peer money transfer for retail users over a DLT network. SBI Ripple Asia explained that, as MoneyTap uses blockchain as the underlying technology and connects with open APIs among participating domestic financial institutions, it falls under this regulatory category as a third-party transaction agent.

2. US SEC Seeks Sanctions Against Individuals Behind Alleged Crypto Scam

The U.S. Securities and Exchange Commission (SEC) is seeking sanctions against the individuals behind the reportedly fraudulent Initial Coin Offering (ICO) known as PlexCoin. Securities and Exchange Commission had been participating in court proceedings against Dominic Lacroix and Sabrina Paradis-Royer, the owners of PlexCorps since December 2017. The PlexCoin allegedly had raised $15 million from thousands of investors, with a previous promise of 1,354 percent return in just 29 days. Yesterday, SEC decided to file a motion to compel and a motion for discovery sanctions against the duo. They have ignored a court order from August which demanded further accounting documents regarding to investor funds as well as the defendants’ assets. It seems that defendents demonstrate no intention to participate in the outgoing case, and could potentially use a defferal strategy.

3. UK – Based Crypto Platform Launches $1.45 Million Crowdfund Campaign to Bank the Unbanked

The London – based crypto platform, Nebeus, has launched a 1.1 million pound ($1.45 million) crowdfunding campaign in order to bring financial services to people around the world. Nebeus is a new crypto bank which facilitates crypto-collateral Bitcoin loans globally. The Nebeus’ campaign went live on Sept. 24, 2018 and it will last until October 23, 2018. So far, Nebeus has already attracted more than 400,000 pounds ($527,490). According to data from the World Bank, there are 1.7 billion adults globally who remain unbanked, and two-thirds of them own a mobile phone that they could use for online banking. The company wants to make banking simple, offering user-friendly Bitcoin wallets and its recently launched Exo card, that will allow users to convert crypto into fiat, making transactions convenient online, offline and at ATM – s. According to the company, 30,000 users of the Nebeus platform have already created active blockchain-based wallets.

1. BIS Report Finds Strong Link Between Crypto Prices and Regulators’ Actions

According to the report published September 23 by BIS – an organization based in Switzerland made up of 60 of the world’s central banks – cryptocurrencies retain close links to news of regulatory actions across different national jurisdictions. This is despite crypto’s design to function in a borderless and frictionless manner based on foundational IoT trusted transactions in a peer-to-peer and decentralized manner. The markets responded most markedly to news events regarding the legal status of crypto. Adverse market responses were found to news that pertains to bans, the possible applicability of securities market law to crypto assets, or to announcements that crypto will not be recognized as a currency. Conversely, solid market gains were sealed in response to governments’ unveiling of new legal frameworks tailored to the crypto space. BIS noted that non-specific – or general – warnings against the risks of crypto, as well as announcements pertaining to the possible, but indeterminate, issuance of central bank digital currencies (CBDCs), had a negligible effect on crypto price action.

2. Over 75 New Banks: JPMorgan Expands Blockchain Payments Trial

A major blockchain payments trial launched by JPMorgan, Australia’s ANZ and the Royal Bank of Canada has just gained over 75 new banks as participants. The three banks set up the project in October 2017, aiming to slash both the time and costs required for interbank payments using traditional methods. Called the the Interbank Information Network (IIN), the platform is built on Quorum – the ethereum-based blockchain network developed by JPMorgan and possibly to be spun off into its own enterprise. In particular, the trial is aimed to address payments that contain errors or get held up for compliance reasons – problems that can takes weeks to solve with multiple banks being involved across the payments chain.

3. Ice’s Bakkt Reveals First Crypto Product as Physical Bitcoin Futures

Intercontinental Exchange (ICE) confirmed that its Bakkt cryptocurrency platform’s first offering will take the form of physical Bitcoin futures. According to Intercontinental Exchange, Bakkt will be a regulated ecosystem for institutional investors and it will offer futures against fiat currencies, such as: the U.S. dollar, British pound sterling and euro. Buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account. The much-anticipated Bitcoin exchange-traded funds (ETFs), currently awaiting approval from U.S. regulators, are differentiate from Bakkt’s offering in the way that traders of the ETF-s would not take the delivery of any actual bitcoins.

1. French MPs Propose Legal Framework for “All Digital Assets” Providers

The French Government plans to provide a legal framework for all “digital assets” providers. An amendment related to regulation of all service providers in the crypto industry was proposed by three members of President Emmanuel Macron’s party – Valeria Faure-Muntian, Christine Hennion, and Eric Bothorel, and it will be discussed by the end of the September. The amendment aims to expand the existing legal framework in order to allow all crypto market participants to obtain consent from the main stock market regulator in France, Autorité des Marchés Financiers (AMF). Back in July, a government official and academic Jean-Pierre Landau released a report stated not to over-regulate cryptocurrencies.

2. US Tech Firm Eyes Blockchain Supply Chain Solution for Major Chinese Ports

U.S.-based technology company Ideanomics has partnered with the Asia-Pacific Model Electronic Port Network (APMEN) Trade Tech Co. to streamline supply chains with blockchain tech. Together with APMEN Trade Tech Co., Ideanomics aims to leverage blockchain and what it calls “super artificial intelligence” to cut out “layers of middlemen” in port clearance and shipping handling for the Asia-Pacific Economic Cooperation’s (APEC) online port clearance system. The first instigation of the tools will take place in two major Chinese ports, Shanghai and Guangzhou, the former holding the title of the world’s busiest port in 2017. Ideanomics will have a 60 percent stake in the new venture, promising it will list on an unspecified Chinese stock exchange before the end of the year.

3. IBM Awarded Patent for Autonomous Self-Servicing Devices Within Blockchain-Based IoT System

IBM has won a patent for the autonomous self-servicing of networked devices that form part of its Autonomous Decentralized Peer-to-Peer Telemetry (ADEPT) environment. IBM first unveiled a proof-of-concept (PoC) for ADEPT in partnership with Samsung back in March 2016. The system uses a blockchain protocol as a basis for a distributed network of devices. According to IBM, self-servicing devices can further boost the improved efficiency of a decentralized system, as they can diagnose and automate the solution for a range of situations such as self-diagnosis, predicting equipment failure and anticipating service needs. The patent continues to outline further functionalities as part of the decentralized IoT system, in which the devices would engage in controlled self-servicing based on foundational IoT trusted transactions in a peer-to-peer and decentralized manner.

1. Russian Banks Would Be Willing To Work With Cryptocurrencies

A group of representatives from major banks in the country met with several prominent personalities involved in the world of crypto-business to formulate in a roundtable a series of proposals and strategies to promote crypto-based financial instruments and their legal adoption. The discussion revolved around the regulatory issue as the main problem and was moderated by Luc Frieden, ex-Minister of Justice and Minister of Finance of Luxembourg. Representatives of leading international financial sites such as BitFlyer, the largest exchange in Japan, NEM blockchain platform and Litecoin cryptocurrency, took part in the meeting. Together with VNX Exchange, they discussed the regulation of the world’s crypto-currency market. The board members worked extensively on various proposals to solve the problem, clearly demonstrating that there is a willingness on the part of banks and other fintechs to open up to the crypto-currency markets.

2. UNICEF France Accepts Donations in 9 Cryptocurrencies

UNICEF France has announced it’s now accepting donations in 9 cryptocurrencies, according to a press release published by French media. The local office of the organization collects contributions in some of the most widely known digital coins, including bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), eos (EOS), monero (XMR), dash (DASH), and stellar (XLM). Donations in all supported cryptos are currently accepted directly through the website of the French branch. The UNICEF official pointed out that cryptocurrencies and crypto technologies represent an innovation in fundraising for solidarity but are still employed by few organizations in the field. At the same time, he noted the positive trend in regards to the spread of cryptocurrency donations.

3. Collaboration With PNC Leads to XRP Surge

United States bank PNC will begin using RippleNet to process international payments for its clients according to a report made on September 19th. PNC’s Treasury Management unit will be using it’s xCurrent software solution to expedite cross – border transactions for the bank’s U.S. commercial clients. PNC clients wil be allowed to recieve payments instantly which will change the way companies approach cash flow and account management. Ripple raised over the next few days with a 15 percent gains in overall market capitalization. Today, Ripple became second biggest cryptocurrency by market cap, at around $23 billion, but, Ethereum is now back to the second spot by market capitalization. October is the month in which Ripple is hoping to launch a commercial version of xRapid. The company previously partnered with Bittrex, Mexican Bitso and Philippine Coins.Ph in order to facilitate xRapid to move between XRP, U.S. dollars, Mexican and Philippine Pesos.

1. Japan: Crypto Thefts Have Tripled This Year, Totalling $540 Million So Far1. Japan: Crypto Thefts Have Tripled This Year, Totalling $540 Million So Far

Japan’s National Police Agency has revealed that 60.503 billion yen ($540 million) worth of crypto was stolen in the first six months of 2018. In 2017. around 662.4 million yen ($5.91 million) worth of crypto was reportedly stolen online, in 149 incidents. The largest single incident was the industry-record-breaking hack of crypto exchange Coincheck, in which the equivalent of 58 billion yen ($520 million) worth of NEM was stolen this January. The remaining 2.5 billion yen ($22 million) stolen in crypto this year involved the hacking of individual accounts, and 60% of those cases involved individuals who use the same password across their email, e-commerce and online crypto dealings.

2. Australian Financial Regulator Issues Warning on Misleading ICOs

The Australian Securities and Investments Commission (ASIC), has issued a warning on “misleading” Initial Coin Offerings (ICOs) and crypto-asset funds targeted at retail investors, in today’s report published on ASIC’s official website. ASIC has stopped five different ICOs from raising capital since April 2018. The main problems are misleading or deceptive statements in sales and marketing materials, and unregistered investment schemes that do not hold Australian financial services licence. ASIC has earlier revealed its plans approach cryptocurrency exchanges and ICOs with increased scrutiny, designating the industry as a high-priority one for the agency until 2022.

3. New York University Offers Major in Blockchain Technology

New York University (NYU) has become the first University in the U.S. to offer students a major in blockchain technology. The program will be provided by the NYU Stern School of Business, which was also a pioneer in offering undergraduate courses in cryptocurrencies and blockchain. They hope to establish a groundwork so the students can understand both the legal and the business implications and take into the new market. According to a Coinbase study, 42 percent of the world’s top 50 universities have at least one class on cryptocurrencies and blockchain. The study found that blockchain and crypto-related courses are most popular in the U.S. among other countries. Another study shows that 21.2 percent of college students used loan money to fund a crypto investment, hoping that the upward price volatility in crypto would help pay their debts faster.

1. Major Bank, Industry Players to Launch Blockchain – Based Commodities PlatformMajor Bank, Industry Players to Launch Blockchain – Based Commodities Platform

The Swiss-based venture, has been established by a group of major global banks, trading firms and leading energy company that include ABN AMRO, BNP Paribas, Citi, Credit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS, and Societe Generale. The venture has been developed in partnership with the Ethereum-focused blockchain infrastructure and solutions group ConsenSys. It will digitalize trade and commodities finance processes trough a blockchain- based open platform. The first komgo product will standardize and facilitate the know-your-customer (KYC) process. The second will be a digital letter of credit, allowing commodity houses or other platforms to submit digital trade data and documents to the komgo customer banks of their choice. From the next year, the platform aims to widen to agriculture and metals.

2. Startup Launches Blockchain Powered Electric Vehicles That Mine Cryptocurrency, Leading UK Port Operator Seeks to Improve Logistics via Blockchain

A Singapore blockchain startup launches blockchain electric vehicles that mine crypto as users travel. The intention is to reduce carbon emissions, since road vehicles are the largest contributors of CO2 emissions in the transport sector. CyClean aims to combine blockchain and cryptocurrency software with electric-powered vehicles as well as other products, such as solar panels and bicycles. The company will allow its users to rent these energy-efficient products and be rewarded with cryptocurrency. The amount of CyClean coins awarded to users will be proportionate to the distance travelled or watts produced. The CyClean Coin (CCL), a CCL/USDT trading pair is now listed on HitBTC, a global cryptocurrency exchange. At the time of writing, CCL is the highest trading ICO token on HitBTC, following only the established cryptocurrencies and altcoins. UK’s leading port operator, Associated British Ports (ABP), has signed an agreement with digital logistics enabler Marine Transport International to develop blockchain use for port logistics. Blockchain solutions for port logistics could reduce time spent on the manual review of scattered data. With Blockchain, all those systems can be connected to ensure data is accurately and quickly shared, helping speed up and simplify the flow of trade in and out of the UK.

3. U.S. Regulators Acts Against Crypto Firm Falsely Claiming to Represent Coinbase, Cointelegraph

The Texas Securities Commission (TSC) has issued an emergency cease and desist order against a Russian crypto firm. The company allegedly misappropriated both Coinbase and Cointelegraph materials to attract investors. The cease-and-desist order states that Coins Miner falsely claimed to be registered at a U.K. address, but the firm was in fact operating from Volgograd in Russia. It is charged with sending unsolicited emails to many recipients including Texas residents, luring them to purchase investments in crypto mining programs issued by Coins Miner. Coins Miner is further charged with publishing a “phony” video that “falsely” depicts its facilities, engineers, and financial professionals, and with using “fake” photos that purport to show the interior of its office suite, but are in fact stock Internet photographs available for purchase online, and also with misappropriating a video of a Fortune journalist discussing crypto next to a superimposed Coins Miner logo.

1. Ripple Could Launch xRapid Solution In The Next Month

The xRapid product is a real-time settlement platform, built for commercial use, backed by XRP tokens and designed to speed up international payments. The xRapid addresses the issue of minimizing liquidity costs and making cross-border payment transactions faster. The new partnership made in August between Ripple, U.S.-based Bittrex, Mexican Bitso, and Philippin This spring, various financial institutions participated in a pilot of the xRapid platform, which tested payments between the U.S. and Mexico. The participants reported transaction savings of 40–70 percent. e Coins.Ph will enable xRapid to move between XRP, U.S. dollars, Mexican pesos, and Philippine pesos.

2. Ukrainian Parliament Proposes Tax Bill for Digital Currencies

The Ukrainian Parliament, Verkhovna Rada, proposes bill that would tax operations with crypto assets. It suggests a five percent tax on individuals and legal entities operating with virtual currency assets, such as cryptocurrencies and tokens. The main goal is to increase state budget revenues by adding a brand new type of revenue, as well as to encourage the development of crypto-related activity in Ukraine. Starting Jan. 1, 2024 crypto-related profits by businesses would be taxed at 18 percent, which is a basic rate for corporate and personal income tax in Ukraine. In June, the State Service for Special Communication and Information Protection of Ukraine revealed that the authority is not planning to regulate cryptocurrency mining, although there is a possibility that the Ukraine’s National Securities and Stock Market Commission (SSMCS) will consider recognizing cryptocurrencies as a financial instrument.

3. Robinhood Accused of Taking from Younger Investors to Benefit Wall Street Traders

Robinhood has taken both the legacy retail stock exchange market and the cryptocurrency exchange market by storm, offering commission-free trades. In a short time, the startup has earned a multi-billion dollar valuation, which have brought the firm a lot of very positive media coverage. Financial journalist Logan Kane is accusing Robinhood of being less than transparent – Robinhood not only engages in selling customer orders but seems to be making far more than their competitors from it. Among brokers that receive payment for order flow, it’s typically a small percentage of their revenue but a big chunk of change nonetheless. Robinhood appears to be operating differently. He thinks that the only reason high-frequency traders would pay Robinhood tens to hundreds of millions of dollars, is that they can exploit the retail customers for far more than they pay Robinhood.